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Charter of Conduct for Members of Board

SCHEDULE II - Regulation - Schedules - Insolvency and Bankruptcy Board of India (Procedure For Governing Boards Meetings) Regulations, 2017 - SCHEDULE II - SCHEDULE II [See regulation 12 (2)] This Charter aims to ensure that the Board conducts in a manner that does not compromise its ability to accomplish its mandate or undermine the public confidence in the ability of Member(s) to discharge his responsibilities. Definitions 1. In this Charter, unless the context otherwise requires,- (i) "f .....

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r of the Board and includes the Chairperson of the Board. 2. Words and expressions used and not defined in this Charter but defined in the Code shall have the meanings respectively assigned to them in the Code. Charter in addition to other provisions 3. This Charter is in addition to the provisions of section 193 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules .....

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r any employee of such entities. Outside or private activities 5. (1) A Whole Time Member shall not hold any other office of profit. (2) A Whole Time Member shall not engage in any other professional activity, which entails receipt of salary or professional fees. Conflict in respect of agenda 6. (1) A Member, who is directly or indirectly interested in any business coming up for consideration at a meeting of the Governing Board, shall disclose the nature of his interest at such meeting. (2) A Me .....

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of gifts 9. (1) A Whole Time Member shall not accept any gift by whatever name called, to the extent possible, from a regulated entity. (2) A Whole Time Member shall hand over the gift, if he receives any and the value exceeds ₹ 5000, to the IBBI. Other disclosures 10. A Member shall disclose the following: (a) any post, other employment or fiduciary position which a Member holds, or has held in the past 5 years in connection with any regulated entity; (b) any other significant relationshi .....

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or not. (4) If the Chairperson or the Governing Board, as the case may be, determines that there is a conflict of interests, the Member or the Chairperson shall refrain from dealing with the particular matter. (5) The Chairperson or the Governing Board, as the case may be, shall assign that matter to another Member or a Committee of Members. Procedure for public to raise conflict of interests 12. (1) Any person, who has reasonable ground to believe that a Member has an interest in a particular .....

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