Lawgist227Power of Central Government to notify financial service providers, etc
Notwithstanding anything to the contrary 1[contained in this Code] or any other law for the time being in force, the Central Government may, if it considers necessary, in consultation with the appropriate financial sector regulators, notify financial service providers or categories of financial service providers for the purpose of their insolvency and liquidation proceedings, which may be conducted under this Code, in such manner as may be prescribed.
2[Explanation.--For the removal of doubts, it is hereby clarified that the insolvency and liquidation proceedings for financial service providers or categories of financial service providers may be conducted with such modifications and in such manner as may be prescribed.]
Download our fully-offline, High speed android app.- Click here
1. Subs. by Act 1 of 2020, s. 11, for “examined in this Code” (w.e.f. 28-12-2019).
2. Ins. by Act 1 of 2020, s. 11 (w.e.f.28-12-2019).
- 224 Insolvency and Bankruptcy Fund
- 225 Power of Central Government to issue directions
- 226 Power of Central Government to supersede Board
- 227 Power of Central Government to notify financial service providers, etc
- 228 Budget
- 229 Annual report
- 230 Delegation
- 231 Bar of jurisdiction
- 232 Members, officers and employees of Board to the public servants
- 233 Protection of action taken in good faith
- 234 Agreements with foreign countries
- 235 Letter of request to a country outside India in certain cases
- 235A Punishment where no specific penalty or punishment is provided
- 236 Trial of offences by Special Court
- 237 Appeal and revision
- 238 Provisions of this Code to override other laws
- 238A Limitation
- 239 Power to make rules
- 240 Power to make regulations
- 240A Application of this Code to micro, small and medium enterprises
- 241 Rules and regulations to be laid before Parliament
- 242 Power to remove difficulties
- 243 Repeal of certain enactments and savings
- 244 Transitional provisions
- 245 Amendments of Act 9 of 1932
- 246 Amendments of Act 1 of 1944
- 247 Amendments of Act 43 of 1961
- 248 Amendments of Act 52 of 1962
- 249 Amendments of Act 51 of 1993
- 250 Amendments of Act 32 of 1994
- 251 Amendments of Act 54 of 2002
- 252 Amendments of Act 1 of 2004
- 253 Amendments of Act 51 of 2007
- 254 Amendments of Act 6 of 2009
- 255 Amendments of Act 18 of 2013
