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TMI BlogInsolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... In exercise of the powers conferred by section 197 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India hereby makes the following regulations, namely:- Chapter I Preliminary 1. Short title and commencement. (1) These regulations may be called Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in these regulations but defined in the Code shall have the meanings respectively assigned to them in the Code. Chapter II Constitution of Advisory Committee 3. Constitution of Advisory Committee. (1) The Board may, by an order, constitute an Advisory Committee to obtain expert advice on issues relevant for the efficient discharge of its functions. (2) The Board may con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt academicians or practitioners in the relevant area, and b) General Members, who are eminent citizens not having direct involvement or interest in the area: Provided that Professional Members and General Members shall roughly be in the ratio of 2:1. (2) No person shall be a Member of more than one Advisory Committee at any point of time. (3) The term of a Member shall not exceed thre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gs. (4) Chairperson of the Advisory Committee shall decide the agenda for the meetings and preside over the meetings of the Committee. 6. Fee. (1) A Member of the Committee shall be entitled to a sitting fee of ₹ 10,000 for a meeting of the Committee. (2) A Member of the Committee shall be entitled to reimbursement of expenses on his travel and accommodation for attending the m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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