The Insolvency and Bankruptcy Board of India (Salary, Allowances andother Terms and Conditions of Service of Chairperson and members) Second Amendment Rules, 2019

MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 26th February, 2019

G.S.R. 168(E).— In exercise of the powers conferred by clause (zd) of sub-section (2) of section 239, read with
sub-section (5) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government
hereby makes the following rules further to amend the Insolvency and Bankruptcy Board of India (Salary, Allowances
and other Terms and Conditions of Service of Chairperson and members) Rules, 2016, namely:-
1. (1) These rules may be called the Insolvency and Bankruptcy Board of India (Salary, Allowances and
other Terms and Conditions of Service of Chairperson and members) Second Amendment Rules, 2019.
(2) They shall come into force on the date of their publication in the official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of
Service of Chairperson and members) Rules, 2016, for rule 16, the following rule shall be substituted, namely:-
“16. Encashment of Leave.- (1) The payment of leave salary during leave shall be governed by rule 40 of the
Central Civil Services (Leave) Rules, 1972.
(2) The Chairperson and a whole time member shall be entitled to encashment of fifty per cent of earned leave
standing to their credit at any time.”


[F. No. 30/33/2018-Insolvency]
GYANESHWAR KUMAR SINGH, Jt. Secy

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