Section 7A in Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016
7A. [ Authorisation for assignment. [Inserted by Notification F. No. IBBI/2019-20/GN/REG045, dated 23.7.2019 (w.e.f. 23.11.2016).]
- An insolvency professional shall not accept or undertake an assignment after 31st December, 2019 unless he holds a valid authorisation for assignment on the date of such acceptance or commencement of such assignment, as the case may be:Provided that provisions of this regulation shall not apply to an assignment which an insolvency professional is undertaking as on -(a)31st December, 2019; or(b)the date of expiry of his authorisation for assignment.]
