(1) These regulations may be called Punjab and Sind Bank Officer Employees’ (Conduct) Regulations, 1981.
(2) They shall come into force on 1.4.1981.
(3) They shall apply to all officer employees of the bank, recruited in India whether working in India or outside India but shall not apply to-
(i) the Chairman of the bank;
(ii) the Managing Director of the bank;
(iii) whole time Director, if any;
(iv) those who are in casual employment or paid from contingencies;
(v) award staff.
2. In these regulations unless the context otherwise requires -
(a) “Act” means the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (Act No.40 of 1980);
(b) “Award Staff” means the person covered by the “award” as defined in the Industrial Disputes (banking Companies) Decision Act, 1955 (41 of 1955);
(c) “bank” means the Punjab & Sind Bank;
(d) “Board” means the Board of Directors of the bank;
(e) “Competent Authority” means the authority appointed by the Board for the purpose of these regulations;
Short Title/Commerce and application Definitions
(f) “Family” means.
(i) in the case of male officer employee his wife, whether residing with him or not, but does not include a legally separated wife and in the case of woman officer employee her husband, whether residing with her or not, but does not include a legally separated husband;
(ii) Children or step-children of the officer employee, whether residing with the officer employee or not, and wholly dependent on such officer employee but does not include children or step-children of whose custody the officer employee has been deprived of by or under any law; and
(iii) any other person related to, by blood or marriage, to the officer employee or to his spouse and wholly dependent upon such officer employee;
(g) “Government” means Central Government;
(h) “Managing Director” means the Managing Director of the bank;
(i) “Officer Employee” means a person who holds a supervisory, administrative or managerial post in the bank or any other person who has been appointed and is functioning as an officer of the bank, by whatever designation called and includes a person whose services are temporarily placed at the disposal of the Central Government or a State Government or any other Government Undertaking or any other public sector bank or the Reserve Bank of India or any other organization but shall not include casual, work charged or contingent staff or the award staff;
(j) “Public Sector Banks” means.
(i) a corresponding new bank specified in the First Schedule to the Act;
(ii) a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970;
(iii) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955);
(iv) a Subsidiary Bank constituted under the State Bank of India (Subsidiary Banks) act, 1959 (138 of 1959); and
(v) any other bank which the Central Government may determine to be a public sector bank for the purpose of these regulations, having regard to its manner of incorporation.