valid as on 22/10/2020

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

19. Terms and Conditions of Services of Part-time Members.–

(1) A part-time member shall be a person who shall not have any such financial or other interest as is likely to affect prejudicially his functions as a part-time member.

The term of office of part-time members shall be five years or till they attain the age of 65 years, whichever is earlier, and they shall be eligible for reappointment.

(2) Every part -time member shall hold office for such period, not exceeding three years, as may be specified in the order of his appointment, but shall be eligible for reappointment.

A part-time member appointed to fill up a casual vacancy, shall hold office for the reminder period of the term of whole-time or part-time member in whose place he is appointed.

substituted vide IBBI (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Amendment Rules, 2020 dated 09.01.2020. To view the notification Click Here
omitted vide IBBI (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Amendment Rules, 2020 dated 09.01.2020. To view the notification Click Here

IBBI (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Amendment Rules, 2020 dated 09.01.2020


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