The Insolvency and Bankruptcy Board of India vide notification dated 31st October, 2022 has issued the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2022, The amendment prescribes following compliances for insolvency professional agencies:
- The compliance officer shall submit to the Board, a compliance certificate annually in the format issued by the Board.
- Facilitate receipt of relationship disclosures from its professional members in accordance with the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016
- Disseminate the disclosures on its website in the following format, within three working days of the receipt of the disclosures from its professional member
