(1) No employee shall, except with the previous knowledge of the competent authority, acquire or dispose of any immovable property by lease, mortgage, purchase, sale, gift or otherwise either in his own name or in the name of any member of his family.
(2) No employee shall, except with the previous sanction of the competent authority, enter into any transaction concerning any immovable or movable property with a person or a company having official dealings with the employee or his subordinate.
(3) Every employee shall report to the competent authority every transaction concerning movable property owned or held by him in his own name or in the name of a member of his family, if the value of such property exceeds fifteen thousand rupees.
(4) Sale and purchase of shares and debentures etc. - Intimation may be sent in the proforma enclosed in the following cases;
(a) Group A and B employees.– If the total transactions in shares, securities, debentures or mutual funds schemes etc. exceeds Rupees Fifty thousand during the calendar year.
(b) Group C and D employees.- if the total transactions in shares, securities, debentures or mutual funds scheme etc. exceeds Rupees Twenty Five Thousand only during the calendar year.
(5) Every employee shall, in the month of January each year submit a return of immovable or movable property inherited, owned or acquired by him the preceding year.
(6) The competent authority may, at any time by General or Special Orders, require an employee to submit, within a period specified in the order, a full and complete statement of such movable or immovable property held or acquired by him or on his behalf by any member of his family as may be specified in the order. Such statement shall, if so required by the competent authority, include details of the means by which or the source from which such property was acquired.
Explanation No. 1 - The expression “every transaction concerning movable property owned or held by him” includes all transactions of sale or purchase.
For the purpose of this sub-regulation, movable property includes:-
(a) jewellery, insurance policy the annual premium of which exceeds Rupees Ten Thousand or one-sixth of the total annual emoluments received from the Authority, whichever is less, shares, securities and debentures;
(b) loans advanced by such employee whether secured or not;
(c) motor cars, motor cycles, scooters, horses or any other means of conveyance;
and
(d) refrigerators, radios (radiograms, television sets, Video Cassette Player, music system, computer etc.).
Explanation No. 2 - Transaction entered into by the spouse or any other member of the family of an employee of the Authority out of his or her own funds (including stridhan, gifts, inheritance, etc) as distinct from the funds of the employee of the Authority himself/herself, in his or her own right, would not attract the provisions of the above sub-regulations.