(1) Subject to the provisions of any law or rule made by the Central Government in force, every employee, shall, on his first appointment, and thereafter every year on 31stDecember, irrespective of whether or not there has been any change in the holding, furnish to the Authority within one month a return of his immovable property, in such form as may be specified by the Authority, giving full particulars regarding the property inherited by him, or owned or acquired or held by him on lease or mortgage, either in his name or in the name of any member of his family.
(2) No employee shall, except with the previous knowledge of the Competent Authority, acquire or dispose of any immovable property by lease, mortgage, purchase, sale, gift or otherwise either in his own name or in the name of any member of his family.
Provided that the prior sanction of the Competent Authority shall be obtained by the employee if any such transaction is with a person having official dealings with the employee.
(3) Where an employee enters into a transaction in respect of movable property either in his own name or in the name of the member of his family, he shall, within 30 days from the date of such transaction, report the same to the Competent Authority, if the value of such property exceeds his basic pay for two months.
Provided that the prior sanction of the Competent Authority shall be obtained by the employee if any such transaction is with a person having official dealings with the employee.
(4) The Competent Authority may, at any time, by general or special order require an employee to furnish within a period specified in the order, a full and complete statement of such movable or immovable property held or acquired by him or on his behalf or by any member of his family as may be specified in the order. Such statement shall, if so required by the Competent Authority, include the details of the means by which, or the source from which, such property was acquired.