Definitions

(1) In these Regulations, unless the context otherwise requires - 2[(a) “assignment” means any assignment of an insolvency professional as interim resolution professional, resolution professional, liquidator, bankruptcy trustee, authorised representative or in any other role under the Code; (aa) “authorisation for assignment” means an authorisation to undertake an assignment, issued by an insolvency professional agency to an insolvency professional, who is its professional member, in accordance with its bye-laws; (ab) “Bar Council” means a Bar Council constituted under the Advocates Act, 1961 (25 of 1961);] (b) “certificate of registration” means a certificate of registration granted by the Board under section 207 of the Code read with these Regulations; (c) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016); (d) “Institute of Chartered Accountants of India” means the Institute constituted under the Chartered Accountants Act, 1949 (38 of 1949); 1 Vide Notification No. IBBI/2016-17/GN/REG003, dated 23rd November, 2016 published in the Gazette of India, Extraordinary, Part III, Sec.4, vide No. 424, dated 23rd November, 2016 (w.e.f. 29.11.2016). 2 Substituted by Notification No. IBBI/2019-20/GN/REG045, dated 23rd July, 2019 (w.e.f. 23.07.2019). Clause (a), before substitution, stood as under: ‘(a) “Bar Council” means a Bar Council constituted under the Advocates Act, 1961 (25 of 1961);’

(e) “Institute of Cost Accountants of India” means the Institute constituted under the Cost and Works Accountants Act, 1959 (23 of 1959); (f) “Institute of Company Secretaries of India” means the Institute constituted under the Institute of the Company Secretaries Act, 1980 (56 of 1980); and (g) “professional member” means 3[an individual or an insolvency professional entity recognised by the Board under regulation 13] who has been enrolled as a member of an insolvency professional agency; (2) Unless the context otherwise requires, words and expressions used and not defined in these Regulations, shall have the meanings assigned to them in the Code.