9911796707
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 ..... ferred 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, 2017. (2) These regulations shall come into fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nings 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 constitute the following committees:- a) Advisory Committee on Service Providers; b) Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot 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 three years: Provided that a person shall be eligible for reappointment as Member of the same or another Advisory Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. (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 meetings of the Committee at par with the entitlement of Secretary to Government of India. 7. Conduct. (1) No member of the Advisory Committee shall co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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