IBBI Information Utilities (Amendment) Regulations, 2020
Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2020.
No. IBBI/2020-21/GN/REG065. —In exercise of the powers conferred by section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017, namely:-
- (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette. - In the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017, (hereinafter referred to as the principal regulations), in regulation 2, in sub-regulation (1), after clause (d), the following clause shall be inserted, namely:-„
(da) “financial information” means any public announcement made under the Code, for the purposes of sub-clause (f) of clause (13) of section 3;‟. - In the principal regulations, after regulation 21, the following regulation shall be inserted, namely: –
“21A. Dissemination of public announcement.
An information utility shall disseminate every public announcement it receives or has access to, on the date of its receipt or access, as the case may be, to its registered users, who are creditors of the corporate
debtor undergoing insolvency proceeding under the Code.”.
Note: The Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 were published vide notification No. IBBI/2016-17/GN/REG009 dated 31st March, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 129 on 31st March, 2017 and were last amended by the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2019 published vide notification No. IBBI/2019-20/GN/REG046, dated the 25th July, 2019 in the Gazette
of India, Extraordinary, Part III, Section 4, No.266 on 25th July, 2019.
