Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Second Amendment Rules, 2019 - F. No. 30/33/2018-Insolvency - G.S.R. 168(E) - Insolvency and Bankruptcy

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 26th February, 2019 G.S.R. 168(E).- In exercise of the powers conferred by clause (zd) of sub-section (2) of section 239 , read with sub-section (5) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) , the Central Government hereby makes the following rules further to amend the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016 , namely:- 1. (1) These rules may be called the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Second Amendment Rules, 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 (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016 , for rule 16 , the following rule shall be substituted, namely:- 16. Encashment of Leave.- (1) The payment of leave salary during leave shall be governed by rule 40 of the Central Civil Services (Leave) Rules, 1972. (2) The Chairperson and a whole time member shall be entitled to encashment of fifty per cent of earned leave standing to their credit at any time. [F. No. 30/33/2018-Insolvency] GYANESHWAR KUMAR SINGH, Jt. Secy. Note: The principal rules were published vide number G.S.R. 831(E), dated the 29th August, 2016 and subsequently amended vide number G.S.R. 153(E), dated the 9th February, 2018 , GSR 1083 (E), dated the 2nd November, 2018 and GSR 41(E) dated the 18th January, 2019 .