The process of temporary surrender of Professional Membership ceases to exist, clarifies IBBI
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- By Chetan Kulasri
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- Last Updated on 13 April, 2022
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CLARIFICATION No. IBBI/IP/2022, Dated 11-04-2022
IBBI has clarified that the process of ‘Temporary Surrender of Professional Membership,’ ceases to exist with the issuance of Notification No. IBBI/2019-20/GN/REG043, dated 23.07.2019 and pursuant to the introduction of the provision of ‘Authorisation for Assignment’. The provisions relating to ‘temporary surrender of professional membership’ are contained in clause 26 of the Schedule to the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016.
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