Section 214 - Obligations of information utility. - Insolvency and Bankruptcy Code, 2016

Obligations of information utility. 214. For the purposes of providing core services to any person, every information utility shall- (a) create and store financial information in a universally accessible format; (b) accept electronic submissions of financial information from persons who are under obligations to submit financial information under sub-section (1) of section 215, in such form and manner as may be specified by regulations; (c) accept, in specified form and manner, electronic submissions of financial information from persons who intend to submit such information; (d) meet such minimum service quality standards as may be specified by regulations; (e) get the information received from various persons authenticated by all concerned parties before storing such information; (f) provide access to the financial information stored by it to any person who intends to access such information in such manner as may be specified by regulations; (g) publish such statistical information as may be specified by regulations; (h) have inter-operatability with other information utilities. *********** Notes:- 1. Come into the force w.e.f. 01-04-2017 [F. N. 30/7/2016-Insolvency Section] S.O. 1005(E) dated 30-03-2017