TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... pal regulations), in regulation 3, for sub-regulation (3) , the following sub-regulation shall be substituted, namely: - (3) The syllabus, format, qualifying marks and frequency of the Limited Insolvency Examination shall be published on the website of the Board at least three months before the examination. . 3. In the principal regulations, for regulation 5 , the following regulation shall be substituted, namely: - 5 . Qualifications and experience.- Subject to the other provisions of these regulations, an individual shall be eligible for registration, if he - (a) has passed the Limited Insolvency Examination within twelve months before the date of his application for enrolment with the insolvency professional agency; (b) has completed a pre-registration educational course, as may be required by the Board, from an insolvency professional agency after his enrolment as a professional member; and (c) has- (i) successfully completed the National Insolvency Programme, as may be approved by the Board; (ii) successfully completed the Graduate Insolvency Programme, as may approved by the Board; (iii) fifteen years of experience in management, after r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regulation 7(2)(g)] the following shall be substituted, namely: - [Under regulation 7 (2) (h)] ; (ii) after item (8), the following item shall be inserted, namely: - 8A. An insolvency professional shall disclose as to whether he was an employee of or has been in the panel of any financial creditor of the corporate debtor, to the committee of creditors and to the insolvency professional agency of which he is a professional member and the agency shall publish such disclosure on its website. ; (iii) after item (25), the following item shall be inserted, namely: - 25A. An insolvency professional shall disclose the fee payable to him, the fee payable to the insolvency professional entity, and the fee payable to professionals engaged by him to the insolvency professional agency of which he is a professional member and the agency shall publish such disclosure on its website. . 7. In the principal regulations , in the Second Schedule, for FORM A, the following Form shall be substituted, namely: -- FORM A [ Under Regulation 6 of the Insolvency and Bankruptcy Board of India ( Insolvency Professionals ) Regulations, 2016 ] To The General Manager ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) 2. Number of years in practice (in years and months): 3. If in practice, address for professional correspondence: 4. Number of years in employment (in years and months): 5. Experience Details (from the date of enrolment as Advocate / Chartered Accountant / Company Secretary / Cost Accountant/ Bachelors Degree) Sl. No. From Date To Date Employment / Practice If employed, Name of Employer and Designation If in practice, practice as Advocate / Chartered Accountant / Company Secretary / Cost Accountant Area of work D. INSOLVENCY PROFESSIONAL AGENCY 1. Please give details of the insolvency professional agency with which you are enrolled as a professional member: 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ars issued thereunder, the bye-laws of the insolvency professional agency with which I am enrolled, and the resolutions passed and directions given by the Board and the Governing Board of such insolvency professional agency. 6. The applicable fee has been paid. Name and Signature of applicant Place: Date: VERIFICATION BY THE INSOLVENCY PROFESSIONAL AGENCY We have verified as under: Verification Finding Whether any disciplinary proceedings are pending or any disciplinary action has been taken at any time in the preceding three years against the professional member by the ICAI, ICSI, ICAI(Cost), or Bar Council, of which he is a Member. Yes / No. If Yes, give details. If required, attach additional papers Whether a regulator ICAI, ICAI (Cost), ICSI, or Bar Council has initiated any criminal proceeding against the professional member and is pending for disposal? Yes / No. If Yes, give details. If required, attach additional papers Whether the professional member had an unblemished service with the last employer if he ..... X X X X Extracts X X X X X X X X Extracts X X X X
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