The Centre has requested IAS, IPS and IFS officers to intimate it in case the overall transactions in stock, share or different investments exceed their six months’ fundamental pay throughout a calendar 12 months, in accordance to a modern order by the personnel ministry. This intimation is as well as to comparable info that wants to be shared by them below Rule 16 (4) of AIS or All India Services (Conduct) Rules, 1968. These guidelines are relevant to the members of three All India Services — Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS).
“…With a view to enable the administrative authorities to keep a watch over the transactions in any stock, share or other investments etc. in respect of members of All India Services (AIS), it has been decided that an intimation may be sent in the enclosed proforma to the prescribed authority every year, if the total transactions in stock, share or other investments etc. exceed six months’ basic pay of government servant during a calendar year,” stated the order issued to secretaries of all central authorities ministries.
It referred to Rule 14 (1) of the conduct guidelines that claims “no member of the service shall speculate in any stock, share or other investments but this provision will not apply to occasional investment made through stock-brokers or other persons duly authorised on licence under the relevant law”.
The rule additional explains that frequent buy or sale or each of shares, securities or different investments is deemed to be hypothesis below the sub-rule. The ministry, in its order dated March 20, additional stated that since share, securities, debentures, and so on are handled as moveable property as per explanation-I below Rule 16 of AIS (Conduct) Rules, 1968, if a person transaction exceeds two months’ fundamental pay of the member of service as prescribed in Rule 16(4) of ibid guidelines, “intimation to the prescribed authority would still be necessary”.
“Every member of the service shall intimate the government in respect of each transaction, whose value exceeds two months’ basic pay of the member of service within a month of the completion of such transaction”, reads Rule 16 (4).
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