2.3.10:Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.

Temporary surrender.

10.   An insolvency professional agency shall inform the Board when it-

(a) issues or renews an authorisation for assignment;

(b) suspends or cancels an authorisation for assignment;

(c) revokes the suspension of an authorisation for assignment; or

(d) accepts the surrender of an authorisation for assignment,

within one working day of taking such action.

(1) An insolvency professional agency shall inform the Board if any of its professional members has temporarily surrendered his certificate of membership or revived his certificate of membership after temporary surrender, not later than seven days from approval of the application for , as the case may be.

(2) The Board shall take note of the information received under sub-regulation (1).