Nothing in regulation & or regulation 9, shall prevent any Trust servant from sitting at the request of any public body for a portrait, bust or other statue not intended for presentation to him,
11. Purchase of resignation - A Trust servant shall not enter into any pr:(,uniary arrangement for the |'.:fiigna(ion h:,' one of the Trust servants of any office held by him under the Trust for the benefit of any other - person; and any pomination or appointment made consequent upon such resignation shall be cancelled and the parties to the arrangement as are still in service shall be suspended, pending the orders of the Committee, 1%, Private trade or employment - ( 1) No Trust servant shall, except with the previous sanction of the Committes, engage directly or indirectly in any trade or business or undertale any other emplayment
Provided that, a Trust servant may, without such sanction, undertale honorary work of a social or charitable nature or occasional work of a literary, artistic or scientific character, subjeet ko the condition that his official duties do not therehy suffer; but he shall not undertale, or shall discontinue such work i so directed by the Execntive Officer.
Explanations.- {iy Canvassing by a Trust servant in. support of the business of INSUTANCE Agencypeommission agency, erc. owned or managed by his wifi or any other member of his fimily shall be desmed to be a breach of this sub-regulation. = (it} Ewery Trust seyvant 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 COMMmIssion agency.
(i} No Trust servant shall, without previeus 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 1946), or any other law for the time being in force or any co-operative society for commercial purposes ;
Provided that, a Trust servant may take part in the registration, promotion or management of a co-operative society substantially for 14 the benefit of Trust servants, registered under the Maharashtra Cooperative Societies Act, 1060 (Maly XXIV of 1861}, or any other law for the time being in force, or ofa literary, scientific or charitable society vegistered under the Societies Registration Act, 1860 (21 of 1860], or any corresponding law in force ) {4) No Trust servant may accept any fee for any work done by him for any public body or any private person withaut the —sanction of the Executi vr.-()ffioer.
(5) No Trust servank i whose case permission to take up commercial ‘employment impm Eel)' aftex retivement is necessary should, while still in service negotiate for any commercial employment after retirement without obtaining -prior permission of the Executive Officer. ;
13. Investment, lending and borrowing - (1) No Trust servant shall speculate in any stock, share or other imvestment.
Explanations.-
(1) Frequent purchase or sale or both, of shares, securinies or other investment shall be deemed to be speculation within the meaning of this sub-regulation.
(2) Mo Trustservans shall make, or permit any member of his family or any person acting on his behalf to make, any investment which is likely to embarrass or anfluence him in the discharge of his official duties.
(8) If any question arises whether any transaction is of the nature referved to in subsregulation (1) or sub- regulation {2), the decision of the Committee therean shall be final.
(4) (i) No Trust servent shall, save in the ordinary course of business with a bank or a firm of standing duly authorised to conduct banking business, either bimself or through any member of his family or any other person acting on his behalf, - (#) lend or borraw money, as principal or agent, to or from any person within the Tocal limits or with whom he is likely to have official dealings, or otherwise place himsell under any pecuniary obligation to such person; or
(b) lend money to any person at interest or in a manner whereby n money or in kind is charged or paid :
13 Providad that, a Trust servant may give to or accept fram a relutive or a personal friend, & purely temporary loan of a small amount firee of interest, or operate a credit account with a bonafide tr'adesnnn or make an advanee of pay to his private employee:
Provided further that, nothing in this sub-regulation shall apply in respect of any transaction entered into by a T'rust servant with the previous sanction of the Executive Officer.
- (i1} When a Trust servant is appointed or transferred to a post of such nature as would involve him in the breach of any of the provisions of sub-regulation (2) or aub—resnlatmn (%), he shall forthwith report the circumstanees to the Executive Officer, and shall ‘thereafter act in accordance with such order as may be made by the Executive Officer.
|5} Notwithstanding anything contamed in sub- regulation (4) -
(a) the Commuttee may, regard being had to the circumstances of each case, relax any of the provisions of sub- regulation (4) in the case of Trust servants belonging to Group C or Group D service;
(b) the Committee may direct that in relation to loans to, or borrowing, by Trust servants from, any Co-operative saciety registered or deemed to be tegistered under the Maharashtra Co-operative Societies Act, 1960 [Mzh. XXIV of 1961), the provisions of subregulation (4] shall apply with such restrictions or relaxation as the Committee may specify, 14, INSOLVENCY AND HABITUAL INDEBTEDNESS - (1} When a Trust servant 18 adjudged-or declared an insolvent or when a meiety of his salary is constantly being attached, or has been continuously under attachment for a period exceeding two years, Of is attached for a sum, which in ordinary circumstances, cannot be repaid within a period of two years, he shall be liable to be dismissed; and in such cases, the Exeeutive Officer shall report the matter to the Committee.
2} Where a moiety of the salary of a Trust servant is attached, the veport shall show the propertion of his debts to the salary, bow far the debts detract from the debtor’s efficiency as a Trust servant, whether the debtor's position is irretrievable, and whether in the circumstances of the case, it is desirable o retain him in the post held by him at the time when the matter is hrought to the notice of the Committee.
(8) In every case under this regulation, the burden of proving that the insolvency or indebtedness is the result of circumstances which, with the 16 exercise of ordinary diligence, the Trust servant could not have foreseen or over which he had no control, and has not proceeded from extravagant or dissipated habits shall be upon the Trust servant.