Amendment to Provident Fund / Pension rule for IBBI Chairperson & WT members

Amendment to Provident Fund / Pension rule for IBBI Chairperson & whole-time members

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 18th January, 2019

G.S.R. 41(E).—In exercise of the powers conferred by clause (zd) of sub-section (2) of section 239, read with sub-section (5) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby makes the following rules further to amend the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016 namely:—

1. (1) These rules may be called the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Chairperson and members) third Amendment Rules, 2019.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Services of Chairperson and members) Rules, 2016, for rule 9, the following rule shall be substituted, namely:—

“9. Provident Fund and Pension—The Chairperson and whole-time members shall be governed by the provisions of the Contributory Provident Fund (India) Rules, 1962 and the Contribution Pension System”.

[F. No. 30/3/2016-Insolvency]

GYANESHWAR KUMAR SINGH, Jt. Secy.

Note : principal rules were published vide number G.S.R. 831(E), dated the 29th August, 2016 and subsequently amended vide number GSR 153(E) dated the 9th February, 2018 and number G.S.R. 1083(E), dated the 2nd November, 2018.