Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018

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..... wers conferred by clause (s) of sub-section (1) of 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, namely:- CHAPTER I PRELIMINARY 1. Short title and commencement. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Mech .....

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..... l have the meanings respectively assigned to them in the Code. CHAPTER II MAKING OF REGULATIONS 3. Making regulations. The Board may make regulations to carry out the provisions of the Code in compliance with regulations 4 and 5. 4. Public Consultation. (1) For the purpose of making regulations, the Board shall upload the following, with the approval of the Governing Board, .....

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..... ed and upload the same on its website along with a general statement of its response on the comments, not later than the date of notification of regulations. (4) If the Governing Board decides to approve regulations in a form substantially different from the proposed regulations, it shall repeat the process under this regulation. (5) The regulations shall be notified promptly after it is app .....

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..... he Code. CHAPTER III AMENDMENT AND REVIEW OF REGULATIONS 6. Amendment of Regulations. An amendment to any regulations shall be made in compliance with the provisions of regulations 4 and 5. 7. Review of Regulations. The Board shall review each regulation every three years unless a review is warranted earlier and amend or repeal any regulation, keeping in view- (a) its ob .....

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..... regulations made by it either on a request by a person or on its own, subject to the condition that such clarification or guidance shall not be construed as determination of any question of fact or law. (Dr. M. S. Sahoo) Chairperson Insolvency and Bankruptcy Board of India - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - .....

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