Section 239. Power to make rules. –

(1) The Central Government may, by notification, make rules for carrying out the provisions of this Code.

(2) Without prejudice to the generality of the provisions of sub-section (1), the Central Government may make rules for any of the following matters, namely: —

• (a) any other instrument which shall be a financial product under clause (15) of section 3;
• (b) other accounting standards which shall be a financial debt under clause (d) of sub-section (8) of section 5;
• (c) the form, the manner and the fee for making application before the Adjudicating Authority for initiating corporate insolvency resolution process by financial creditor under sub-section (2) of section 7;
• (d) the form and manner in which demand notice may be made and the manner of delivery thereof to the corporate debtor under sub-section (1) of section 8;
• (e) the form, the manner and the fee for making application before the Adjudicating Authority for initiating corporate insolvency resolution process by operational creditor under sub-section (2) of section 9;
• ¹[(ea) other proof confirming that there is no payment of an unpaid operational debt by the corporate debtor or such other information under clause (e) of sub-section (3) of section 9;]
• (f) the form, the manner and the fee for making application before the Adjudicating Authority for initiating corporate insolvency resolution process by corporate applicant under sub-section (2) of section 10;
• ²[(fa) the transactions under the second proviso to sub-section (2) of section 21;
• (fb) the transactions under the Explanation I to clause (c) of section 29A;
• (fc) the transactions under the second proviso to clause (j) of section 29A.]
• ³[(fd) the form, particulars, manner and fee for making application before the Adjudicating Authority under sub-section (2) of section 54C;
• (g) the persons who shall be relative under clause (ii) of the Explanation to sub-section (1) of section 79;
• (h) the value of unencumbered single dwelling unit owned by the debtor under clause (e) of sub-section (13) of section 79;
• (i) the value under clause (c), and any other debt under clause (f), of sub-section (14) of section 79;
• (j) the form, the manner and the fee for making application for fresh start order under sub-section (3) of section 81;
• (k) the particulars of the debtor’s personal details under clause (e) of sub-section (3) of section 81;
• (l) the information and documents to support application under sub-section (3) of section 86;
• (m) the form, the manner and the fee for making application for initiating the insolvency resolution process by the debtor under sub-section (6) of section 94;
• (n) the form, the manner and the fee for making application for initiating the insolvency resolution process by the creditor under sub-section (6) of section 95;
• (o) the particulars to be provided by the creditor to the resolution professional under sub-section (2) ofsection 103;
• (p) the form and the manner for making application for bankruptcy by the debtor under clause (b) of sub-section (1) of section 122;
• (q) the form and the manner of the statement of affairs of the debtor under sub-section (3) of section 122;
• (r) the other information under clause (d) of sub-section (1) of section 123;
• (s) the form, the manner and the fee for making application for bankruptcy under sub-section (6) of section 123;
• (t) the form and the manner in which statement of financial position shall be submitted under sub-section (2) of section 129;
• (u) the matters and the details which shall be included in the public notice under sub-section (2) of section 130;
• (v) the matters and the details which shall be included in the notice to the creditors under sub-section (3) of section 130;
• (w) the manner of sending details of the claims to the bankruptcy trustee and other information under sub-sections (1) and (2) of section 131;
• (x) the value of financial or commercial transaction under clause (d) of sub-section (1) of section 141;
• (y) the other things to be done by a bankrupt to assist bankruptcy trustee in carrying out his functions under clause (d) of sub-section (1) of section 150;
• (z) the manner of dealing with the surplus under sub-section (4) of section 170;
• (za) the form and the manner of proof of debt under clause (c) of sub-section (2) of section 171;
• (zb) the manner of receiving dividends under sub-section (7) of section 171;
• (zc) the particulars which the notice shall contain under sub-section (2) of section 176;
• (zd) the salaries and allowances payable to, and other terms and conditions of service of, the Chairperson and members of the Board under sub-section (5) of section 189;
• (ze) the other functions of the Board under clause (u) of sub-section (1) of section 196;
• (zf) the other funds under clause (c) of sub-section (1) of section 222;
• (zg) the other purposes for which the fund shall be applied under clause (d) of sub-section (2) of section 222;
• (zh) the form in which annual statement of accounts shall be prepared under sub-section (1) of section 223;
• (zi) the purpose for which application for withdrawal of funds may be made under sub-section (3) of section 224;
• (zj) the manner of administering the fund under sub-section (4) of section 224;
• (zk) the manner of conducting insolvency and liquidation proceedings under section 227;
• (zl) the form and the time for preparing budget by the Board under section 228;
• (zm) the form and the time for preparing annual report under sub-section (1) of section 229;
• (zn) the time up to which a person appointed to any office shall continue to hold such office under clause (vi) of sub-section (2) of section 243.

1. Ins. by Act No. 26 of 2018, sec 35 (w.e.f. 6-6-2018).
2. Ins. by Act No. 1 of 2020, sec. 12 (w.e.f. 28-12-2019).
3 Ins. by Act No. 26 of 2021, sec.15 (w.e.f. 04-04-2021).