Prescribed conditions for the purposes of sub-clause (iii) of clause (B) of sub-section (2) of section 115WB.

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.... 115WB, the non-transferable pre-paid electronic meal card (hereinafter called the "card") shall fulfill the following conditions, namely:- (i) The card shall be granted by the employer to its employees under a scheme framed by the employer specifying therein the circumstances under which the meal card can be used by the employee. (ii) The card under clause (i) shall be issued by....

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....t in such manner and for such period as is required under the Act for any other similar transaction. Explanation.- for the purposes of this rule,- (i) "banking company" shall have the same meaning as assigned to in clause (viii) of sub-section (1) of section 36 of the Act; (ii) "issuing bank" means a banking company- (a) which issues the card to the employees of an em....