Remuneration of part-time member of IBBI increased to Rs. 6000 for each meeting attended

Remuneration of part-time member of IBBI increased to Rs. 6000 from Rs. 1000/- for each meeting of the Board attended by the member. Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Services of Chairperson and Members) Second Amendment Rules, 2018

MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION

New Delhi, the 2nd November, 2018

G.S.R.1083 (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 Services of Chairperson and Members) Second Amendment Rules, 2018.

(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, in sub-rule (1) of rule 20, for the words “one thousand”, the words “six thousand” shall be substituted.

[F. No. 30/63/2018-Insolvency]
GYANESHWAR KUMAR SINGH, Jt. Secy.

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