{"id":251730,"date":"2021-07-26T15:30:13","date_gmt":"2021-07-26T10:00:13","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=251730"},"modified":"2021-07-26T15:35:32","modified_gmt":"2021-07-26T10:05:32","slug":"agency-to-deposit-penalty-to-the-fund-constituted-under-s-222-of-ibc-2016-notified","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/26\/agency-to-deposit-penalty-to-the-fund-constituted-under-s-222-of-ibc-2016-notified\/","title":{"rendered":"Agency to deposit penalty to the fund constituted under S. 222 of IBC, 2016, notified"},"content":{"rendered":"<p style=\"text-align: justify;\">The Insolvency and Bankruptcy Board of India has notified with effect from 22nd July 2021, the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021 to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/V8OGc770\">Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The Regulation amends clause 24(5) in the schedule in which the Agency shall promptly realize the monetary penalty imposed by the Disciplinary Committee and credit the same to the Fund constituted under section 222 of the Code.<\/p>\n<p style=\"text-align: justify;\">Under the regulation, a company shall submit to the Board its bye-laws along with the application for its registration as an insolvency professional agency.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #800000;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Insolvency and Bankruptcy Board of India has notified with effect from 22nd July 2021, the IBBI (Model Bye-Laws and Governing Board <\/p>\n","protected":false},"author":121,"featured_media":160494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-251730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Agency to deposit penalty to the fund constituted under S. 222 of IBC, 2016, notified | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/26\/agency-to-deposit-penalty-to-the-fund-constituted-under-s-222-of-ibc-2016-notified\/\" 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