MANU/FNSV/0035/2019
Ministry : Ministry of Finance
Department/Board : Financial Services
Notification No. : GSR790(E)
Date of Notification : 16.10.2019
Date of Publication : 16.10.2019
Notification/ Circulars Referred : G.S.R.No. 1166(E) dated 09-12-1988 MANU/CNBN/1118/1988;G.S.R.No. 855(E) dated 25-09-1989 MANU/CNBN/0695/1989;G.S.R.No. 745(E) dated 13-12-1993 MANU/CNBN/0756/1993;G.S.R.No. 598(E) dated 30-06-1995 MANU/CNBN/0842/1995;G.S.R.No. 644(E) dated 19-09-1995 MANU/CNBN/0874/1995;G.S.R.No. 262 (E) dated 22-05-1998 MANU/CNBN/0621/1998;G.S.R.No. 281(E) dated 23-04-1999 MANU/CNBN/0437/1999;G.S.R.No. 444(E) dated 18-06-1999 MANU/CNBN/0713/1999;Corrigenda G.S.R.No. 584(E) dated 10-08-1999 MANU/CNBN/0102/1999;G.S.R.No. 668(E) dated 26-10-2006 MANU/EAFF/0113/2006;G.S.R.No. 401(E) dated 13-05-2010 MANU/FNSV/0024/2010;GSR No. 471(E) dated 10-07-2013 MANU/FNSV/0036/2013;GSR No. 1161(E) dated 21-12-2016 MANU/FNSV/0077/2016;GSR No. 282(E) dated 23-03-2017 MANU/FNSV/0088/2017;GSR No. 415 (E) dated 28.04.2017 MANU/FNSV/0024/2017
Subject: Finance
Citing Reference:
G.S.R.No. 1166(E) dated 09-12-1988 MANU/CNBN/1118/1988 Referred
G.S.R.No. 855(E) dated 25-09-1989 MANU/CNBN/0695/1989 Referred
G.S.R.No. 745(E) dated 13-12-1993 MANU/CNBN/0756/1993 Referred
G.S.R.No. 598(E) dated 30-06-1995 MANU/CNBN/0842/1995 Referred
G.S.R.No. 644(E) dated 19-09-1995 MANU/CNBN/0874/1995 Referred
G.S.R.No. 262 (E) dated 22-05-1998 MANU/CNBN/0621/1998 Referred
G.S.R.No. 281(E) dated 23-04-1999 MANU/CNBN/0437/1999 Referred
G.S.R.No. 444(E) dated 18-06-1999 MANU/CNBN/0713/1999 Referred
Corrigenda G.S.R.No. 584(E) dated 10-08-1999 MANU/CNBN/0102/1999 Referred
G.S.R.No. 668(E) dated 26-10-2006 MANU/EAFF/0113/2006 Referred
G.S.R.No. 401(E) dated 13-05-2010 MANU/FNSV/0024/2010 Referred
GSR No. 471(E) dated 10-07-2013 MANU/FNSV/0036/2013 Referred
GSR No. 1161(E) dated 21-12-2016 MANU/FNSV/0077/2016 Referred
GSR No. 282(E) dated 23-03-2017 MANU/FNSV/0088/2017 Referred
GSR No. 415 (E) dated 28.04.2017 MANU/FNSV/0024/2017 Referred
Life Insurance Corporation of India (Staff) Amendment Rules, 2019
G.S.R.790(E).--In exercise of the powers conferred by Clause (cc) of Sub-section (2) of Section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance Corporation of India (Staff) Rules, 1960, namely:-
1. (1) These rules may be called the Life Insurance Corporation of India (Staff) Amendment Rules, 2019.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Life Insurance Corporation of India (Staff) Rules, 1960 in rule 61, in clause (c) the following proviso shall be inserted, namely:-
"Provided that in the event of compulsory retirement as a measure of penalty under the provisions of clause (e) of sub-rule (1) of rule 39 a payment equal to the employee's last salary for the period of privilege leave to his credit as on the date of his compulsory retirement subject to maximum of 240 days, shall be allowed to the retiree employee."
[F. No. S-11012/03/2017-Ins.1]
LALIT KUMAR, Economic Advisor
Note : The principal Regulations was published in the Gazette of India vide notification dated 23rd July, 1960 and subsequently amended vide notifications dated 20-01-1962, 01-12-1962, 14-04-1962, 30-03-1963, 03-08-1963, 28-12-1963, 01-02-1964, 02-05-1964, 22-08-1964, 03-10-1964, 16-01-1965, 05-06-1965, 19-06-1965, 17-07-1965, 11-09-1965, 06-11-1965, 27-11-1965, 08-01-1966, 19-02-1966, 26-02-1966, 26-03-1966, 23-04-1966, 18-06-1966, 03-09-1966, 10-09-1966, 01-10-1966, 22-10-1966, 31-12-1966, 18-02-1967, 11-02-1967, 01-04-1967, 15-04-1967, 29-04-1967, 22-07-1967, 19-08-1967, 30-07-1967, 02-03-1968, 30-03-1968, 08-06-1968, 15-06-1968, 08-03-1969, 12-04-1969, 26-04-1969, 14-06-1969, 19-07-1969, 23-01-1971, 07-08-1971, 19-06-1971, 07-10-1972, 18-11-1972, 16-12-1972, 04-05-1974, 31-05-1975, 13-12-1975, 22-04-1976, 12-06-1976, 10-07-1976, 28-08-1976, 21-01-1977, 23-04-1977, 04-06-1977, 21-07-1977, 12-11-1977, 01-04-1978, 26-05-1978, 31-05-1978, 01-07-1978, 07-10-1978, 04-11-1978, 19-12-1978, 08-12-1979, 10-05-1980, 23-12-1983, 10-05-1988 and vide G.S.R.No. 1166(E) dated 09-12-1988, G.S.R.No. 855(E) dated 25-09-1989, G.S.R.No. 745(E) dated 13-12-1993, G.S.R.No. 598(E) dated 30-06-1995, G.S.R.No. 644(E) dated 19-09-1995, G.S.R. No. 93(E) dated 16.02.1996, G.S.R.No. 262 (E) dated 22-05-1998, G.S.R.No. 281(E) dated 23-04-1999, G.S.R.No. 444(E) dated 18-06-1999, Corrigenda G.S.R.No. 584(E) dated 10-08-1999, G.S.R.No. 554(E) dated 22-06-2000, G.S.R.No. 668(E) dated 26-10-2006, G.S.R.No. 160(E) dated 03-03-2008, G.S.R.No. 401(E) dated 13-05-2010, G.S.R.No. 829(E) dated 08-10-2010, GSR No. 471(E) dated 10-07-2013, and GSR No. 1161(E) dated 21-12-2016, GSR No. 282(E) dated 23-03-2017 and GSR No. 415 (E) dated 28.04.2017.