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5387 · GI/2016

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7 · _

2 · The Chairperson of each of these Committees shall be an independent director of the Agency:

10 · (1) An individual may apply for enrolment as a professional member by submitting an application in such form; in such manner and with such fees as may be specified by the Agency:

11 · The Agency may require the professional members to pay a fixed sum of money as its annual membership fee.

12 · (1) The Agency shall maintain a register of its professional members, containing their-

13 · (1) In the performance of his functions_ professional member shall-

14 · The Agency shall have a Code of Conduct that shall be consistent with, and that shall provide for all matters in the Code of Conduct as specified in the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.

15 · The Agency shall have Monitoring Policy to monitor the professional activities and conduct of professional members for their adherence to the provisions of the Code, rules, regulations and guidelines issued thereunder; these bye-laws, the Code of Conduct and directions given by the Governing Board

16 · professional member shall submit information, including records of ongoing and concluded engagements as an insolvency professional, in the manner and format specified by the Agency, at least twice a year 17. The Monitoring Committee shall review the information and records submitted by the professional members in accordance with the Monitoring Policy.

18 · The Monitoring Policy shall provide for the following

19 · The Monitoring Policy shall

20 · The Agency shall submit report to the Board in the manner specified by the Board with information collected during monitoring, including information pertaining to a) the details of the appointments made under the Code,

21 · The Agency shall have Grievance Redressal Policy providing the procedure for receiving, processing; redressing and disclosing grievances against the Agency or any professional member of the Agency by-

23 · The Agency may initiate disciplinary proceedings by issuing a show-cause notice against professional members-

24 ·

2 · The orders that may be passed by the Disciplinary Committee shall include -

25 · The Governing Board shall constitute an Appellate Panel consisting of one independent director of the Agency, one member from amongst the persons of eminence having experience in the field of law, and one member nominated by the Board.

26 · (1) A professional member shall make an application for temporary surrender of his membership of the Agency at least thirty days before he-

27 · (1) A professional member who wishes to surrender his membership of the Agency may do so by submitting an application for surrender of his membership.

28 · Any fee that is due to the Agency from a professional member surrendering his membership shall be cleared prior to his name being struck from the registers of the Agency:

29 · The Agency may refuse to accept the surrender of membership by any professional member if -

30 · A professional member shall be expelled by the Agency