Section 26 - Amendment of section 34 - Insolvency and Bankruptcy Code (Second Amendment) Act, 2018

Amendment of section 34 26 . In section 34 of the principal Act, - (a) in sub-section (1), for the words and figures Chapter II shall , the words and figures Chapter II shall, subject to submission of a written consent by the resolution professional to the Adjudicatory Authority in specified form, shall be substituted; (b) in sub-section (4),- (i) in clause (b), for the words in writing , the words in writing; or shall be substituted; (ii) after clause (b), the following clause shall be inserted, namely:- (c) the resolution professional fails to submit written consent under sub-section (1). ; (c) in sub-section (5), for the word, brackets and letter clause (a) , the words, brackets and letters clauses (a) and (c) shall be substituted; (d) in sub-section (6), after the words another insolvency professional , the words along with written consent from the insolvency professional in the specified form, shall be inserted.