Section 12A(2) in Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016
(2)A professional member shall be eligible to obtain an authorisation for assignment, if he -(a)is registered with the Board as an insolvency professional;(b)is a fit and proper person in terms of the Explanation to clause (g) of regulation 4 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016;(c)is not in employment;(d)is not debarred by any direction or order of the Agency or the Board;(e)has not attained the age of seventy years;(f)has no disciplinary proceeding pending against him before the Agency or the Board;(g)complies with requirements, as on the date of application, with respect to -(i)payment of fee to the Agency and the Board;(ii)filings and disclosures to the Agency and the Board;(iii)continuous professional education; and(iv)other requirements, as stipulated under the Code, regulations, circulars, directions or guidelines issued by the Agency and the Board, from time to time.
