~ w 'iF ~-33004/99 REGD. NO D L -31004/99 -«. 70] No. 70] EXTRAORDINARY \J11T m -"Wli 4
PART III-Section 4 ~ ~ Yr.tirrlH'I PUBLffiHEDBYAUTHORITV =-~~~=-~======~~= ~ ~. ~. lfl"":f 21, 2001~ 30, 1922 NEW DELHI, WEDNESDAY, MARCH 21, 2001/PHALGUNA 30,1922 - .
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HX8 GI/2001 (I) 2 'tHE GAZEITE OF INDIA: EXTRAORDINARY [PARTffi-SBC. 4]
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(n) ~ fu~ $- ~d" ?jq) ~ llfto ~ lflJ; ~ ~re-!IT em "fflif~ mftffi em ~ fulm 'JITq 111 I INDIAN BANK (Head Office) NOTIFICATION Chennai, the27thFebruai), 2001 ~ <fiHI"1El1, ~-.pn"5f0t~ (~) ['B. ~/IJI/IV/290/2 if;]
No. SRC/223/50.-ln exercise of powers conferred by Section 19 of the Banking Companies {Acquisition and Transfer of, Undertakings) Act, 1970 (5 of 1970) and in supercession of Indian Bank Officer Employees' (Acceptance of Jobs In Private Sector concerns after Retirement) Regulations, 1979 and as amended vide notification No.38 dt.23.09.1995, the Board of Directors of the Indian Bank in consultation with the Reserve Bank of India and with the previous approval of the Central Government hereby makes the following Regulations, namely:~ §HORT TIIL.E AND COMMENCEMENt:-
(1) These Regulations may be called Indian Benk Officer Employees (Acceptance of Jobs In Private Sector concerns after Retirement) Regulations, 2000.
(2) These Regulations shall come into force from the date of their publication in thea Official Gazette.
2. APPLICATION;~ These Regulations shall apply to all Officer Employees of the Bank except:- (I) Chairman of the Bank;
(ii) Managing D1rector of the Balik;
(iii) Whole time Director, if any;
(tv) otncer Employees covered under the Bank's (Employees) Pension Regulations, 1995;
(v) Those who are in casual employment or paid from contingency;
(vi) The Award Staff;
(viQ Officers on contract.
3. PEFtNITION;- In these Regulations unless the context otherwise requires:-
(a) 'Bank' means Indian Bank;
(b) 'Board' means the Board of Directors of the Indian Bank;
(c) 'Competent Authority' means the authority empowered by the Board for the purpose of these regulations:
(d) 'Employment in private concerns' means:-
(i) an ernploym•nt In any capacity including that of an agent, under a company Oncludlng a banking company), co-operative society, firm or indMdual engaged in trading, commercial, industrial, financial or professional business and Includes also a directorship of such company (Including a banking company) and partnershjp of such firm, but does not include employment under a body corporate, wholly or substantially owned or controlled by the Central Government or a State Government;
(il) seUing up practice, either independently or as a partner of a firm, • adviser or consultant In matters in respect of which the person:-
(a) has no professional quallftcations and the mattttr$ In respect of which the pracUce is to be set up or is carried on are relatable to his official knowledge or experi.nce, or
(b) has professional qualifications but the matters In respect of which such practice is to be sat up are such as are likely to give his cli.,ts an unfair advantage by reason of his previous official position, or
(c) has to undertake work Involving llaiaon or contact wtlh the omces or otncers of the Bank.
5 6 1HE GAZETIE OF INDIA: EX'I'liAORDINARY (PARTill---8Hc. 4) EXPLANATION:- For the purpose of this clause, the expression "ernployment under a co-operative 3ocfaty' includes the holding of any otftce, whether eJecttve or otherwise. such as that of President. Chairman, Man~r. Secretary, Treasurer and the like, by whatever name oalled in such society.
(e) ·omcer employee· means a person who has held a supervisory, administrative or managerial post tn thct Bank or any other person who was appointed and/or has functioned as an officer of the Bank at the time of his retirement by whatever designation called.
4. ACCEPTANCE OF EMPLOVMENT AFTER RETIREMENT;- ( 1) If a person who lmmedtately before his retirement was holding the post of an officer employee and wishes to accept any job in private concern before the expiry of two years from the date of his retirement, he shall obtain the previous sanction of the Bank to such acceptance.
(2) Subject to the provision of sub regulation (3), the Bank rnay by order in writing, on the application by a person. grant, subject to sueh conditions, if any, as it may deem necessary, permission, or refuse, for reasons to be recorded in the order, permission to such person to take up the job in private concern specified In the application.
(3) In granting or refusing permission under sub regulation (2) to a person for taking up any commercial employment. the Bank shalt have regard to the following factors, namety:-
(a) the nature of the employment proposed to be taken up and the antecedents of the employer;
(b) whether his duties in the employment which he propOses to take up might be $uch as to bring him into conflict with the Bank;
(c) whether the officer employee while fn service had any such dealing with the employer under whom he proposes to take employment as it might alford a reasonable basis for the suspicion that such person had shown favours to such employer;
(d) whether the duties of the commercial ·employment proposed Involve liaison or contact work with Bank;
(e) whether his commercial duties will be such that his previous official position or knowledge or experience under Bank could be used to give the proposed employer an unfair advantage;
(f) the emoluments offered by the proposed employer; and
(g) any other relevant factor.
(4) Where within a period of sixty days of the date of receipt of an application under sub--regulation (2), the Bank does not refuse to grant the permission applied for or does not communicate the refusal to the applicant, the Bank shall be deemed to have granted the permission applied for;
Provided that in any case where defective or insufficient Information is furnished by the applc•nt and it becomes necessary for the Bank fo seek further clarlflcatlons or Information from him, the period of sixty days shall be counted from the dste on which the defects have been removed or complete information has been furnished by the applicant.
(5) Where the Bank grants the permission applied for subject to any conditions or refuses such permission, the applicant may, within thirty days of the receipt of the order of the Bank to that effect, make a representation against any such condition or refusal and the Bank may make such orders thereon as It deems fit;
Provided that no order other than an ordt!Jr cancelling ~uch condition or granting such permission without any conditions shall be 1TNide under thi$ sub regulation without giving the person making the tepm&entation sn opportunity to show cause against the order proposed to be made.
(6) Every order passed by the Bank under this Regulation shall be communicated to the person concerned.
SELVAM VEERARAGHAVAN, Asst General Manager (PL) [No ADVT!Jll/IV/290/2k] -----~-- ---- ------------- Pnnted by the Manager, Govt of lndta Pre••. Ring Road, Mayapun, New 1J.,Im·ll0064 and Puhhshed by the Controller of Pubhcatwllll, Delht-110054.
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