TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Professionals) (Fourth Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... amend the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 , namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Fourth Amendment) Regulations, 2022. (2) They shall come into force on the date of publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as the principal regulations ), in regulation 2 , in sub-regulation (1), in clause (g), for the words an individual , the words an individual or an insolvency professional entity recognised by the Board under regulation 13 shall be substituted. 3. In the principal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it shall allow only a partner or director, as the case may be, who is an insolvency professional and holds a valid authorisation for assignment to sign and act on behalf of it; (ii) after clause (i), the following Proviso shall be inserted, namely:- Provided that clause (ba) and clause (d) shall not be applicable to an insolvency professional which is insolvency professional entity. 7. In the principal regulations , in clause (ca) and clause (g) in sub-regulation (2) of regulation 7 and in clause 8B, clause 8C, clause 8D, clause 21, clause 25A, clause 25B, clause 25C of the First Schedule , for the word him , the word it shall be substituted. 8. In the principal regulations, in regulation 7A , for the word, he , th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rincipal regulations, in Second Schedule , after Form A , the following form shall be inserted, namely:- FORM AA [Under Regulation 6 (1A) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016] To The Executive Director (IP Division) Insolvency and Bankruptcy Board of India Sub.: Application for registration as an insolvency professional. Sir/Madam, 1. I, being duly authorised for the purpose, hereby apply on behalf of [name of the applicant entity], recognised by the Board as an insolvency professional entity with recognition number [recognition number], having registered address at [registered address of the applicant entity] for registration as an insolvency professi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of this application has been suppressed, and iii. registration granted in pursuance of this application may be cancelled summarily if any information submitted herein is found to be false or misleading in material respects at any stage. iv. the applicant entity may be derecognised if any information submitted herein is found to be false or misleading in material respects at any stage. 8. I, hereby confirm that the applicable fee has been paid to the Board vide [please enter the payment details along with date of making the payment] and enclose proof thereof. 9. If granted registration, I, on behalf of [name of the applicant entity], undertake to comply with the requirements of the Code, the rules, regulations or circulars or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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