Lending and Borrowing money from private individuals – Previous sanction of Government necessary

GOVERNMENT OF TAMIL NADU
ABSTRACT
Tamil Nadu Government Servants Conduct Rules, 1973 – Lending and Borrowing money from private individuals – Previous sanc;tion of Government necessary – Rule 6 and Rule 7 of the Tamil Nadu Government Servants Conduct Rules, 1973 – Amendments – Issued

PERSONNEL AND ADMINISTRATIVE REFORMS (PER.A) DEPARTMENT
G.O.Ms.No.434.                                                                                                                                            Dated : 12.10.90.
Pramodhutha, Purattasi 26
Thiruvalluvar Aandu 2021.
ORDER :
According to Explanation I(b) under sub-rule (2) of Rule 7 of the Tamil Nadu Government Servants Conduct Rules, 1973, if the loans advanced by or to any Government servant whether secured or not, exceeds Rs.5000/- then he should report the matter to the prescribed authority within one month from the date of such transaction.
2.  It is now considered that lending and borrowing money to from the private individuals would place the Government servant under pecuniary obligation to such persons and that this kind of transaction should, therefore, be discouraged.
3.  The Government, therefore, direct that the Government servant should obtain prior sanction of the Government in respect of transaction concerning lending or borrowing money with the private individuals if the amount exceeds Rs.5000/-
4.  The following Notification will be published in the Tamil Nadu Government Gazette :-
NOTIFICATION
In exercise of the powers conferred by the proviso to Article 309 of the Constitution of India, the Governor of Tamil Nadu hereby makes the following amendments to the Tamil Nadu Government Servants’ Conduct Rules, 1973.
AMENDMENTS
In the said Rules,--
(1)    in rule 6, in sub-rule (4), after clause (a), the following clause shall be inserted, namely :-
“(aa)  No Government servant shall, either himself or through any member of his family or any other person acting on his behalf, except with the previous sanction of the Government, lend or borrow money to or from any private individual any amount exceeding Rs.5000/- (Rupees five thousand only)”;
(2)    in rule 7, in sub-rule (2), in Explanation I clause (b) shall be omitted.
(BY ORDER OF THE GOVERNOR)
                                                                           R. SHANMUGAMANI,
SECRETARY TO GOVERNMENT.
To
All Secretaries to Government, Madras-9.
All Departments of Secretariat, Madras-9.
All Heads of Departments.
All Collectors including District Judges, District Magistrates (Judicial).
The Secretary, Tamil Nadu Public Service Commission, Madras-2.
The Registrar, High Court, Madras-104.
The Director of Stationery & Printing (for publication of the Notification in the Tamil Nadu
Government Gazette).
Copy to :
All Officers in P.&.A.R. Department.
/FORWARDED / BY ORDER/
                                                                             (Sd.)
SECTION OFFICER.

One Response to “Lending and Borrowing money from private individuals – Previous sanction of Government necessary”

  1. The Government, therefore, direct that the Government payday lender servant should obtain prior sanction of the Government in respect of transaction concerning lending or borrowing money with the private individuals if the amount exceeds Rs.5000/-

    ReplyDelete

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