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TMI BlogInsolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 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 the Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018. (2) Save as oth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NS 3. Making regulations. The Board may make regulations to carry out the provisions of the Code in compliance with regulations 4 and 5. 4. Public Consultation. (1) For the purpose of making regulations, the Board shall upload the following, with the approval of the Governing Board, on its website seeking comments from the public- (a) draft of proposed regulations; (b) the specific provision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tification of regulations. (4) If the Governing Board decides to approve regulations in a form substantially different from the proposed regulations, it shall repeat the process under this regulation. (5) The regulations shall be notified promptly after it is approved by the Governing Board and the date of their enforcement shall ordinarily be after thirty days from the date of notification unle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the provisions of regulations 4 and 5. 7. Review of Regulations. The Board shall review each regulation every three years unless a review is warranted earlier and amend or repeal any regulation, keeping in view- (a) its objectives; (b) its outcome; (c) experience of its implementation; (d) experience of its enforcement and the related litigation; (e) global best practices, if any; (f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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