Insertion of new sections 67B and 67C
Section 67AofThe Insolvency and Bankruptcy Code, 2016
(4) Notwithstanding anything contained in section 241, a draft of every rule proposed to be issued under this section, shall be laid before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if both Houses agree in disapproving the issue of rule or both Houses agree in making any modification in the rule, the rule shall not be notified or shall be notified only in such modified form, as may be agreed upon by both the Houses of Parliament. (5) The period of thirty days referred to in sub-section (4) shall not include any period during which the House referred to in sub-section (4) is prorogued or adjourned for more than four consecutive days. (6) Every rule notified under this section shall be laid, as soon as may be after it is made, before each House of Parliament.’.