Section 242 of Insolvency and Bankruptcy Code, 2016 (IBC): Power to remove difficulties

The Insolvency and Bankruptcy Code, 2016

Part-V Miscellaneous

Section 242: Power to remove difficulties.

*242. (1) If any difficulty arises in giving effect to the provisions of this Code, the Central Government may, by order, published in the Official Gazette, make such provisions not inconsistent with the provisions of this Code as may appear to be necessary for removing the difficulty:

Provided that no order shall be made under this section after the expiry of five years from the commencement of this Code.

(2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.


Reference

*Effective from 19.08.2016.

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