1.1.16:Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016

(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.

The Chairperson or a whole time member shall be entitled to the encashment of leave in accordance with the rules applicable to Group ‘A’ officers of the Central Government, subject to a maximum encashment of three hundred days, including the leave encashed before superannuation