Insolvency Professional Agencies (Amendment) Regulations

Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) (Amendment) Regulations, 2022

No. IBBI/2022-23/GN/REG089.- In exercise of the powers conferred by sections 196, 201, 202, 219, and 220 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Board hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016, namely: –

1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) (Amendment) Regulations, 2022.
   (2) They shall come into force on the date of their publication in the Official Gazette.
   
2. In the Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2017, for regulation 8, the following regulation shall be substituted, namely: –
   
   “Disciplinary proceedings.
   8. The disciplinary proceedings shall be conducted in accordance with the provisions of the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017.”

Note: The Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016 were published vide notification No. IBBI/2016-17/GN/REG002 on 22nd November, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, No. 420 dated 21st November, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) (Amendment) Regulations, 2019 vide notification No. IBBI/2019-20/GN/REG044 dated 23rd July 2019 in the Gazette of India, Extraordinary, Part III, Section 4, No. 259 dated 23rd July 2019.

Notification

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