Regulation 6

¹¹[An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, in Part – II of Form A of the Second Schedule to these Regulations, along with a non- refundable application fee of twenty thousand rupees to the Board.]

¹²[An insolvency professional entity eligible for registration as an insolvency professional under sub-regulation (2) of regulation 4 may make an application to the Board through the insolvency professional agency of which it is a member, in Part – II of Form AA of Second Schedule to these Regulations, along with a non-refundable application fee of two lakh rupees to the Board.]

The ¹³[insolvency professional agency] shall acknowledge an application made under this Regulation within seven days of its receipt. ¹⁴[

The insolvency professional agency shall verify and forward the application to the Board within thirty days from the date of payment of fee under sub-regulations

or

, as the case may be, excluding the time given by the insolvency professional agency to the professional member for submitting additional documents, information, or clarification, as the case may be.] The words before substitution, stood as under: “An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board in Form A of the Second Schedule to these Regulations, along with a non-refundable application fee of 10 twenty thousand rupees to the Board.” The words before substitution, stood as under: “An insolvency professional entity eligible for registration as an insolvency professional under sub-regulation (2) of regulation 4 may make an application to the Board in Form AA of Second Schedule along with a non-refundable application fee of two lakh rupees.” The words before substitution, stood as “Board”.

The Board may require the applicant to submit, within reasonable time, additional documents, information or clarification that it deems fit.

The Board may require the applicant to appear, within reasonable time, before the Board in person, or through ¹⁵[its] authorised representative for clarifications required for processing the application.