2.3.2:Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.
2. (1) In these Regulations, unless the context otherwise requires –
“assignment” means any assignment of an insolvency professional as interim resolution professional, resolution professional, liquidator, bankruptcy trustee, authorised representative or in any other role under the Code;
“authorisation for assignment” means an authorisation to undertake an assignment, issued by an insolvency professional agency to an insolvency professional, who is its professional member, in accordance with its bye-laws;
(a) “Bar Council” means a Bar Council constituted under the Advocates Act, 1961 (25 of 1961);
(b) “certificate of registration” means a certificate of registration granted by the Board under section 207 of the Code read with these Regulations;
(c) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016);
(d) “Institute of Chartered Accountants of India” means the Institute constituted under the Chartered Accountants Act, 1949 (38 of 1949);
(e) “Institute of Cost Accountants of India” means the Institute constituted under the Cost and Works Accountants Act, 1959 (23 of 1959);
(f) “Institute of Company Secretaries of India” means the Institute constituted under the Institute of the Company Secretaries Act, 1980 (56 of 1980); and
(g) “professional member” means an individual who has been enrolled as a member of an insolvency professional agency;
(2) Unless the context otherwise requires, words and expressions used and not defined in these Regulations, shall have the meanings assigned to them in the Code.
The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2019 dated 23.07.2019