Hkkx II — [k.M 1

b97aec9943998ff4f66c9bdc38ab021ffbe73cbb · 2016 · State unknown

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Parent: THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021 (db08e302dbdafa64a086f6402e52a1b3b84827d6)

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vlk/kkj.k EXTRAORDINARY Hkkx II — [k.M 1 PART II — Section 1 izkf/kdkj ls izdkf'kr PUBLISHED BY AUTHORITY lañ 40] ubZ fnYyh] 'kqØokj] vxLr 17] 2018@Jko.k 26] 1940 ¼'kd½ No. 40] NEW DELHI, FRIDAY, AUGUST 17, 2018/SHRAVANA 26, 1940 (SAKA) bl Hkkx esa fHkUu i`"B la[;k nh tkrh gS ftlls fd ;g vyx ladyu ds :i esa j[kk tk ldsA Separate paging is given to this Part in order that it may be filed as a separate compilation. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 17th August, 2018/Shravana 26 , 1940 (Saka) The following Act of Parliament received the assent of the President on the 17th August, 2018, and is hereby published for general information:— THE INSOLVENCY AND BANKRUPTCY CODE (SECOND AMENDMENT) ACT, 2018 NO. 26 OF 2018 [17th August, 2018.] An Act further to amend the Insolvency and Bankruptcy Code, 2016. BE it enacted by Parliament in the Sixty-ninth Year of the Republic of India as follows:— (1) This Act may be called the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018. Short title and commencement. It shall be deemed to have come into force on the 6th day of June, 2018. 2. In the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the principal Act), in section 3, in clause (12), for the word "repaid", the word "paid" shall be substituted. Amendment principal Act), in section 3, in clause (12), for the word "repaid", the word "paid" shall of section 3. 31 of 2016. Amendment of section 5. In section 5 of the principal Act,— (i) after clause (5), the following clause shall be inserted, namely:— '(5A) "corporate guarantor" means a corporate person who is the surety in a contract of guarantee to a corporate debtor;'; (ii) in clause (8), in sub-clause (f), the following Explanation shall be inserted, namely:— ' Explanation.—

Rule TOC

2 · In the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the principal Act), in section 3, in clause (12), for the word "repaid", the word "paid" shall be substituted. Amendment principal Act), in section 3, in clause (12), for the word "repaid", the word "paid" shall

16 · of 2016.

7 · In section 10 of the principal Act,—

8 · In section 12 of the principal Act, in sub-section (2), for the word "seventy-five", the word "sixty-six" shall be substituted. Amendment of section 12.

9 · After section 12 of the principal Act, the following section shall be inserted, namely:— Insertion of new section 12A.

16 · In section 22 of the principal Act,—

17 · In section 23 of the principal Act, in sub-section (1), the following proviso shall be inserted, namely:— Amendment of section 23.

18 · In section 24 of the principal Act,—

22 · In section 29A of the principal Act,—

10 · of 1949.

42 · of 1999.

54 · of 2002.

23 · In section 30 of the principal Act,—

25 · In section 33 of the principal Act, in sub-section (2), after the words "decision of the committee of creditors", the words "approved by not less than sixty-six per cent. of the voting share" shall be inserted. Amendment of section 33.

18 · of 2013.

12 · of 2003.

26 · In section 34 of the principal Act,—

27 · In section 42 of the principal Act, after the words "of the liquidator", the words "accepting or" shall be inserted.

28 · In section 45 of the principal Act, in sub-section (1), the words and figures "of section 43" shall be omitted.

29 · In section 60 of the principal Act,—

30 · In section 69 of the principal Act, for the words "On or after the insolvency commencement date, if", the word "If" shall be substituted.

31 · In section 76 of the principal Act,—

32 · In section 196 of the principal Act, in sub-section (1),—

33 · In section 231 of the principal Act, for the words "Adjudicating Authority" at both the places where they occur, the words "Adjudicating Authority or the Board" shall be substituted.

34 · After section 238 of the principal Act, the following section shall be inserted, namely:—

35 · In section 239 of the principal Act, in sub-section (2), after clause (e), the following clause shall be inserted, namely:—

37 · After section 240 of the principal Act, the following section shall be inserted, namely:—

36 · of 1963.

27 · of 2006.

31 · of 2016.