Regulation 2 - Definitions. - Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016

Definitions. 2. (1) In these Regulations, unless the context otherwise requires- 1 [ (a) assignment means any assignment of an insolvency professional as interim resolution professional, resolution professional, liquidator, bankruptcy trustee, authorised representative or in any other role under the Code; (aa) authorisation for assignment means an authorisation to undertake an assignment, issued by an insolvency professional agency to an insolvency professional, who is its professional member, in accordance with its bye-laws; (ab) Bar Council means a Bar Council constituted under the Advocates Act, 1961 (25 of 1961); ] (b) certificate of registration means a certificate of registration granted by the Board under section 207 of the Code read with these Regulations; (c) Code means the Insolvency and Bankruptcy Code, 2016 (31 of 2016); (d) Institute of Chartered Accountants of India means the Institute constituted under the Chartered Accountants Act, 1949 (38 of 1949); (e) Institute of Cost Accountants of India means the Institute constituted under the Cost and Works Accountants Act, 1959 (23 of 1959); (f) Institute of Company Secretaries of India means the Institute constituted under the Institute of the Company Secretaries Act, 1980 (56 of 1980); and (g) professional member means 2 [ an individual or an insolvency professional entity recognised by the Board under regulation 13 ] who has been enrolled as a member of an insolvency professional agency; (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. Substituted vide NOTIFICATION No. IBBI/2019-20/GN/REG045 dated 23-07-2019 before it was read as (a) Bar Council means a Bar Council constituted under the Advocates Act, 1961 (25 of 1961); 2. Substituted vide Notification No. IBBI/2022-23/GN/REG099 dated 28-09-2022 before it was read as, an individual