The Memorandum of Association and Rules & Regulations of IBC were originally printed in December 1993, which since then have undergone eight revisions. On the recommendations of the Constitutional Amendment Committee set up to review the Memorandum of Association & Rules and Regulations of IBC, the Governing Council in its 52nd meeting held on 26th September 2008, approved further revision to the Rules as given under the list of ‘Amendments’. The Rules and Regulations was last modified on 09 June 2023 and published in June 2024.