Tamilnadu Government Servants’ Conduct Rules, 1973 – Transactions in sale and purchase of shares and debentures etc. Instructions – Issued.

GOVERNMENT OF TAMIL NADU
Letter No.38199/Per-A/92-7,
Personnel and Administrative
Reforms (Per-A) Department,
Secretariat, Chennai-600 009.
Dated : 07.06.1993.
From
THIRU.M. AHMED, I.A.S.,
Secretary to Government.
 To
All Secretaries to Government.
All Departments of Secretariat, Madras-9.
All Heads of Departments including District Collectors, District Judges and Chief Judicial Magistrates.
The Registrar, High Court, Madras.
The Registrar, Tamilnadu Administrative Tribunal, Madras.
 
Sir,
            Sub :Tamilnadu Government Servants’ Conduct Rules, 1973 –  Transactions in sale and purchase of shares and debentures etc.   Instructions – Issued.
***********
            As per sub-rule (4) of rule 7 of the Tamilnadu Government Servants’ Conduct Rule, 1973 the Government of any authority or Officer empowered by them in this behalf or the prescribed authority may, at any time, by general or special order, require a Government servant to submit within a period specified in the order a full and complete statement of such movable or immovable property held or acquired by him or by any member of his family as may be specified in the order.  Such statement shall, if so required by the Government or by the authority or Officer so empowered or the prescribed authority  include details of the means by which or the source from which such property was acquired.
            2.  Sub-rule (1) of rule 6 of the above rules also provides that no Government servant shall speculate in any stock, share or other investment.  It ha also been explained that habitual purchase or sale or both of shares, securities or other investments shall be deemed to be speculation within the meaning of this sub-rule.
            3.  With a view to enable the administrative authorities to keep a watch over the Central Government employees investing in shares, securities and debentures etc. frequently, the Government of India have since issued orders that the Central Government employees should send an intimation to the prescribed authority in the prescribed proforma in the following cases:
(i)                 Group “A” and “B” Officers – If the total transactions in shares, securities, debentures or mutual funds schemes etc. exceeds Rs.50,000/- during the calendar year.
(ii)               Group “C” and “D” Officers – If the total transactions in shares, securities debentures or mutual funds scheme etc exceeds Rs.25,000/- during the calendar year.
4.  The Government after careful examination, have decided to issue similar orders to the State Government employees.  The Government accordingly direct that intimation in the enclosed proforma to the prescribed authority be furnished by the Government servants in the following cases :           
(i)                 Group “A” and “B” Officers – If the total transactions in shares, Securities, debentures or mutual funds schemes etc. exceeds Rs.50,000/- during the calendar year.
(ii)               Group “C” and “D” Officers – If the total transactions in shares, securities, debentures or mutual funds scheme etc. exceeds Rs.25,000/- during the calendar year.
5.  It is clarified that since shares, debentures, etc. are treated as movable property for the purpose of rule 7(2) of the Tamilnadu Government Servants’ Conduct  Rules, 1973, if an individual transaction exceeds the amount prescribed in rule 7(2), the intimation to the prescribed authority would still be necessary.  The intimation prescribed in para 4 will be in addition to this, where cumulative transactions, i.e., sale, purchase or both in shares, securities, debentures or mutual funds etc. in a year exceed the limits indicated in para 4.
6.  All Departments of Secretariat/Heads of Departments are directed to circulate the above instructions to their subordinates under their control for information and adherence.
                                                                                    Yours faithfully,
                                                                                    (Sd.)
 A.SURIYAKUMARI,
           
                                         for Secretary to Government.
Copy to :
All Sections in Personnel and  Administrative Reforms Department.

Leave a Reply

Powered by Blogger.