Regulation 2 - Definitions - Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017

Definitions 2. (1) In these Regulations, unless the context otherwise requires- (a) Application Programming Interface means a mechanism that allows a system or service to access data or functionality provided by another system or service; 1 [ (aa) Board means the Insolvency and Bankruptcy Board of India established under section 188 of the Code; ] (b) certificate of registration means a certificate of registration granted or renewed by the Board under section 210 read with these Regulations and the terms registration and renewal shall be construed accordingly; (c) Code means the Insolvency and Bankruptcy Code, 2016 (31 of 2016) and includes the rules, regulations, guidelines and directions issued thereunder; (d) control shall have the meaning assigned to it under section 2(27) of the Companies Act, 2013 (18 of 2013); 2 [ (da) financial information means any public announcement made under the Code, for the purposes of sub-clause (f) of clause (13) of section 3; ] (e) Governing Board means the Board of Directors, as defined under section 2(10) of the Companies Act, 2013 (18 of 2013), of the company registered as an information utility; (f) host bank means the financial institution hosting the repayment account; (g) independent director shall have the meaning assigned to it under section 149(6) of the Companies Act, 2013 (18 of 2013); (h) information means financial information as defined in section 3(13); (i) key managerial personnel shall have the meaning assigned to it under section 2(51) of the Companies Act, 2013 (18 of 2013); (j) net worth shall have the meaning assigned to it under section 2(57) of the Companies Act, 2013 (18 of 2013); (k) outsourcing means contracting out services to a third party; (l) public company shall have the meaning assigned to it under section 2(71) of the Companies Act, 2013 (18 of 2013); 3 [ (la) record of default means the status of authentication of default issued in Form D of the Schedule. ] (m) repayment account means the bank account to which a debtor is obliged to repay its debt, as recorded in an information utility; (n) section means a section of the Code; (o) secure systems shall have the meaning assigned to it in section 2(1)(ze) of the Information Technology Act, 2000 (21 of 2000); (p) Schedule means schedule attached to these Regulations; (q) submission of information includes updating of information, as the context may require; (r) Technical Standards means the standards laid down by the Board through guidelines issued under Regulation 13, from time to time; and (s) user means a person who avails of the services of an information utility. (2) Unless the context otherwise requires, words and expressions used and not defined in these Regulations, shall have the meanings assigned to them in the Code. ********* Notes 1. Inserted vide Notification No. IBBI/2018-19/GN/REG34 dated 11-10-2018 2. Inserted vide Notification No. IBBI/2020-21/GN/REG065 dated 13-11-2020 3. Inserted vide Notification No. IBBI/2022-23/GN/REG085 dated 14-06-2022