INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, 23rd July, 2019
Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) (Amendment) Regulations, 2019
F. No. IBBI/2019-20/GN/REG042- In exercise of the powers conferred by sub-section (1) of section 192 read with section 240 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 (Procedure for Governing Board Meetings) Regulations, 2017, namely:І
1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) (Amendment) Regulations, 2019.
(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 (Procedure for Governing Board Meetings) Regulations, 2017, in regulation 5, for sub-regulation (1), the following sub-regulation shall be substituted namely:-
“(1) Not less than ten days’ notice shall ordinarily be given for each meeting of the Governing Board and such notice along with agenda shall be sent to every Member at his usual address in India or by e-mail, as furnished by him to the Board:
Provided that if an urgent meeting of the Governing Board is required to be convened, ten days’ notice may be dispensed with by the Chairperson.”
Dr. M. S. Sahoo Chairperson
[ADVT.-III/4/Exty./144/19]
Note: The Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations, 2017 were published vide notification No. IBBI/2016-17/GN/REG007 dated 30th January, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 35 on 31st January, 2017 and these have not been amended so far.
