2.7.3:Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017

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3. Constitution of Advisory Committee.

(1) The Board may, by an order, constitute an Advisory Committee to obtain expert advice on issues relevant for the efficient discharge of its functions.

(2) The Board may constitute the following committees:-

a) Advisory Committee on Service Providers;

b) Advisory Committee on Corporate Insolvency and Liquidation;

c) Advisory Committee on Individual Insolvency and Bankruptcy, and

d) Any other subject specific Advisory Committee as the Board may consider expedient from time to time.

(3) Every order under sub-regulation (1) shall provide for composition of the Advisory Committee and the broad issues under its purview.

(4) An Advisory Committee may advise the Board on any issue under its purview on its own and shall advise and provide professional support on any issue under its purview on a request from the Board.