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Prasar Bharati (Broadcasting Corporation of India) Investment of Money Rules, 2007

Central Rules · 19909,576 characters of text

The enactment

TypeRules
Year1990
JurisdictionCentral
MinistryMinistry of Information and Broadcasting
StatusIn force as published by the source
TextPublished as one document, as the source published it
Subjectstechnology

Full text

The source publishes this enactment as a single document rather than provision by provision, so the whole text is below and there are no per-section pages for it. Nothing has been shortened.

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"JtcIT, 37^ ■??f^ ftnjur : ^ T IW U m ^.1^ . 28, 4 " V ^ , 2006 ^ T H=filfVM W[ I MINISTRY OFHEALTH AND FAMILY WELFARE New Delhi the 12th December, 2007 G.S.R 283.—In exercise of the powers conferred by the proviso to article 309 of the Consititution, the President hereby makes flie following rules to amend the Ministry of Health and Family Welfare, Regional Leprosy Training and Research Infititute, Raipur (Laboratory At­ tendant) Recruitment Rules, 2006, namely ;—

1. (1) These rules may be called the Ministry of Health and Family Welfaie, Regional Leprosy Training and Research Institute, Raipur (Laboratory Attendant) Recruitment (Amendment) Rules, 2007.

(2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Schedule to the Ministry of Healdii and Family Welfare, Regional Leprosy Training and Research Institute, Raipur (Laboratory Attendant) liiecruitment Rules, 2(X)6,—

(a) In the entries under column 7, for Note 1, the following Note shall be substitute, namely ;— “Note 1.—^The crucial date for determining the age limit shall be Ihe closing date for receipt of applications from candidates in Infia (and not the closing date prescribed for those in Assam, M eghalaya, Arunachal Pradesh, Mizoram, Manipui, Nagaland, Tripura, SikJdm, L -a d ^ Divi­ sion of Jammu and Kashmir State, L^ml and Spiti District and Pangi Sub-Diyision of Chamba Dis­ trict oJ' Himachal Prad^h, the Union Territory of Andaman and Nicobar Island or die Union Ter­ ritory of Lakshadeejp.)”

(b) in the entries und<;r column 8 after the words “Medical Laboratoiy” the words “associated with leprosy treatment” shall be inserted.

(c) in the footnote, the word and figure “Rule 5” the word and figure “Rule 2” shall be substituted.

[F. No. A-12018/45/2000-Lep/CCD] K. K. GUPTA, Under Secy.

Note : The principal rules were published in the Gazette of India vide number G.S.R. 28, dated 4th Febiiiary, 2006, 6 2007

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MEVSmVOF BRO New Delhi, the 6 ►RMATIONAND TING December, 2007 G.I^.R 284—In exercise of the powers conferred by Section 19 reiad with clause (i) of sub section (ii) of Section 32 of the Prasa Corporation of India) Act, 1 Government hereby make investment of moneys by

1. Short tide and CO] may be called tHe Prasar Bh, Bharati (Broadcasting ' (25 of 1990), the Central the following rules for Corporation, namely :— icement—(1) T h ^ rules i (Broadcasting Corporation of India) Investment of Moieys Rules, 2007.

(2) They shall come intj) force on the date of their publication in the Ofpcial Gazette.

2. DeHnttions—(1) in these rules, unless the context otherwisie requires,-|-

(a) “Act” mpans the Prasar Bharati (Broadcasting Act, 1990;

the Investment Committee, Corporation of India

(b) “committee” meiuis referred to in rule 5

(c) “credit rating agfcncy” means an agency recognised by Securities and Exchange Board of India and Reserve Bank of India for the purpose of rating.complies leased on tiieir debt servicing capacity;

(d) “debt investment” nkans any instrument through which loan is advaijced to third jDarty like loan, debentures, etc.;

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(e) “short-term” means a period not exceeding one year;

(2) Woi’ds and expression used in these rules and not defined but defined in the Act shall have the meanings assigned to th<jm in the Act.

3. Investment of moneys in securities, etc.— T̂he Corporation may invest its moneys in one or more of the following instruments subject, however, to iJie principles laid dowTi in rule 4, namely :— CO term deposits with; any nationalised banks, having a net-worth of at l<?ast rupees 100 crores, fulfilling the capital adequacy norms, as specified by the Reserve Bank of India, and as reflected in the last published balana^ sheet;

(ii) investments which have been rated by an established credit rating agency ar>d have been accorded the highest safety such as, certificate of deposits issued by nationalised banks;

(iii) any debt instrument which has obtained highest rating from an established credit rating agency;

(iv) public accounts with the Government of India with the facility for withdrawal at any time;

(v) securities of the Central Government or any State Government.

4. Principles Governing Investment—(1) The principles governing the investment shall be safety, returns, transparency and accountability.

(2) Term deposits for the chosen period shall be made from amongst the njitionalised banks fDr the highest rate of interest and return.

(3) Debt instruments carrying the maximum return amongst the eligible instruments of highest safety rating by the established credit rjating agencies shall be selected.

(4) InN'estments in Government securities through primary dealers charging the lowest commiiision shall be preferred.

(5) For obtaining imaximum returns and achieving transparency and accountability, three competitive quotations from the eligible nationalised banks shall be chosen.

(6) All investmeni: decisions shall be taken in accordance with the rules, .regulations and directions issued by the Central Government, as applicable.

(7) The Corporation shall, in making investments of short-terms surplus funds, be guided by lhe following principles, namely :— Cl) investment shall he made only in instruments with maximum safety;

(ii) diere shall be no element of speculation on the yield obtaining from the investment;

(iii) the surplus availa1>ility may be worked out for a minimum one year at any point of time, in consultation with the Ministry of Information and Broadcasting;

(iv) there shall be a proper commercial appreciation before any investment decision on surplus funds is taken;

(v) funds shall not be invested at a particular rate of interest for a particular period of time, if the Corporation is resorting to borrowing at an equal or higher rate of interest for its requirements for the same period of time;

(vi) investment decisions shall be based on commercial judgement;

(vii) the availability should be worked out based on cash-flow estimates taking into account working capital requirements, replacement of assets and other demands;

(viii) the investment shall be only of temporary nature using temporary idle cash including refundable deposits and it shall not be used for investing from the funds kept outside the internal extra budgetary resources calculation;

Ox) the final maturity of investment shall not exceed one year from the date of investment.

5. Investment Committee—(1) Decisions on investment of surplus funds shall be taken by an Investment Committee, consisting of the Executive Member, Member (Finance) and Member (Personnel).

(2) The decision on investments shall be taken by the committee comprising a minimum of two Members.

(3) Decision made under sub-rule (I) shall be placed before the Prasar Bharati Board for approval, in its next meeting.

6. Internal audit—(1) Proper internal audit of the funds and investments shall be developed and the reports of the internal audit shall be reviewed by the Executive Member of the Corporation, from time to time.

(2) Important observations shall be placed before the Prasar Bharati Board for approval, [F. No. 1/2/2005-B (Fin.)] ZOHRA CHATTERJI, Jt. Secy.

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