Insolvency Professional Agency: Meaning, Registration & Functions
- Blog|Insolvency and Bankruptcy Code|
- 1194 Views
- 2 Min Read
- By Taxmann
- Last Updated on 14 July, 2021
1. Insolvency Professional Agency Meaning:
Insolvency professional agency means any person registered with the Board (IBBI) under section 201 of Insolvency Code, 2016 as an insolvency professional agency – section 3(20) of Insolvency Code, 2016. The Insolvency Professional Agencies will develop professional standards, code of ethics and be first level regulator for Insolvency professionals members. This will lead to development of a competitive industry for such professionals. ICAI, ICSI and ICMA have already formed section 8 companies and have applied for registration with IBBI as Insolvency Professional Agency.
2. Registration of Insolvency Professional Agency:
3. Functions of Insolvency Professional Agency:
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4. Model Bye laws of Insolvency Professional Agency:
5. Control over Insolvency Professional Agency by Board ( IBBI ):
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