(1) An employee shall not solicit or accept any gift or permit any member of his family or any person acting in his behalf to accept any gift from any person with whom the employee is likely to have official dealings either directly or indirectly or from any subordinate employee. Trivial gifts like small packets of sweets, diaries, calendars on the occasion of Diwali and New Year may, however, be exempted.
Explanation.—The expression "gift" shall include free transport, boarding, lodging or other service or any other pecuniary advantage when provided by any person other than a near relative or a personal friend having no official dealings with the employee or with the Board.
Note 1: A casual meal, lift or other social hospitality shall not be deemed to be a gift.
Note 2: An employee shall avoid acceptance of lavish or frequent hospitality from any individual or concern having official dealings with the employee or with the Board.
(2) On occasions such as marriages, anniversaries, funerals or (2) religious functions when the making of gifts is in conformity with the prevailing religious or social practice, an employee may accept gifts from his personal friends having no official dealing with the employee or with the Board but he shall make a report to the competent authority if the value of such gifts exceeds Rs.10,000.
(3) An employee shall not—
(a) Give or take or abet the giving or taking of dowry; or
(b) Demand directly or indirectly from the parents or guardians of a bride or bridegroom, as the case may be, any 'dowry' .
Explanation.—In this Regulation, the term 'dowry' shall have the same meaning as in the Dowry Prohibition Act, 1961.
Private trading
63. No employee shall engage in any commercial business or pursue it either on his own account or as agent for others, nor act as an agent for an insurance company nor shall he be connected with the formation or management of a joint stock company.
Explanation.—Canvassing by an employee in support of the business of insurance agency or commission agency carried on or managed by a member of his family shall be deemed to be a breach of this Regulation.
Restrictions on investments
64. No employee shall make any direct or indirect investment in equity and equity related instruments including convertible debentures and warrants except units of Mutual Funds, non convertible bonds and non-convertible debentures, and in rights issues in respect of the shares already held by them. These restrictions would apply to :
(i) Investments of the employees ;
(ii) Investments of dependent children or other wards managed by the employee as a guardian
(iii) Investment made by spouse, dependent children, dependent parents and dependent parents-in-laws of the employee out of the moneys received from the employee.
Speculation in stocks, shares, investments, etc.