MANU/NMIC/0160/2022

Department/Board : Insolvency and Bankruptcy Board of India

Notification No. : IBBI/2022-2023/GN/REG083

Date of Notification : 01.06.2022

Date of Publication : 01.06.2022

Notification/ Circulars Referred : Notification No. IBBI/2016-17/GN/REG006 dated 30th January, 2017 MANU/NMIC/0034/2017

Subject: Insolvency

Citing Reference:
Notification No. IBBI/2016-17/GN/REG006 dated 30th January, 2017 MANU/NMIC/0034/2017  Referred

Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) (Amendment) Regulations, 2022

No. IBBI/2022-2023/GN/REG083.--In exercise of the powers conferred by section 240 read with section 194 of the Insolvency and Bankruptcy Code, 2016 (No. 31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations to amend the Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017, namely:-

1.     (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) (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 (Engagement of Research Associates and Consultants) Regulations, 2017, (hereinafter referred to as 'the principal regulations') in regulation 5, after sub-regulation (3), the following proviso shall be inserted, namely:-

"Provided that the Chairperson may amend the consolidated remuneration given in Schedule II for reasons to be recorded in writing."

3. In the principal regulations, in regulation 8, for sub-regulation (1), the following sub-regulation shall be substituted, namely: