No Sansthan employee Shall, except with the previous sanction of the Committee, engage directly or indirectly in any trade or business or undertake any other employment:
Provided that, a Sansthan employee may, without such sanction, undertake honorary work of a social or charitable nature or occasional work of a literary, artistic or scientific character, subject to the condition that his official duties do not thereby suffer; but he shall not undertake, or shall discontinue, such work if so directed by the Executive Officer.
Explanation._ (1) Canvassing by a Sansthan Employee in support of the business of insurance agency, Commission agency, etc. owned or managed by his spouse or any other member of his family shall be deemed to be a breach of this on regulation.
(2) Every Sansthan Employees shall report to the Executive Officer, if any member of his family is engaged in a trade or business or owns or manages an insurance agency or commission agency.
(3) No Sansthan employee shall, without previous sanction of the Executive Officer, except in the discharge of his official duties, take part in the registration, promotion or management of any bank or other company which is required to be registered under the Companies Act, 1956 (1 of 1956), or 274 any other law for the time being in force or any co-operative society for commercial purposes:
Provided that, a Sansthan employee may take part in the registration, promotion or management of a _ co-operative society substantially for the benefit of Sansthan employees, registered under the Maharashtra Co-operative Societies Act, 1960 (Mah. XXIV of 1961), or any other law for the time being in force, or of a literary, scientific or charitable society registered under the Societies Registration Act, 1860 (21 of 1860) or any corresponding law in force.
(4) No Sansthan employees may accept any fee for any work done by him for any public body or any private person without the sanction of the Executive Officer.
(9) No Sansthan employees shall without obtaining prior written permission from the Executive Officer accept commercial employment immediately within a period of two years of his retirement.