TaxTMI 
TaxTMI 
International Financial Services Centres Authority (Employees' Service) Regulations, 2020.
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.... otherwise provided in these regulations or to such extent as may be specifically or generally decided by the Authority, to persons employed temporarily or on contracts. Definitions 3. (1) In these regulations, unless there is anything repugnant in the subject or context- (a) "Act" means the International Financial Services Centres Authority (IFSCA) Act, 2019. (b) "Authority" means the International Financial Services Centres Authority constituted under Section 4 of the Act. (c) "Chairperson" means the Chairperson of the Authority and, in relation to the powers exercisable by him, includes whole-time member of the Authority or a Committee of Executive Directors or Executive Director or any other officer to whom the power under these regulations may be delegated by the Chairperson. (d) "Compensatory allowance" means an allowance granted to meet expenditure necessitated by the special circumstances in which the duty is performed. (e) "Competent Authority" means, (i) The Chairperson in the case of officers, which expression shall also include whole-time member of the Authority or Executive Director, in regard to any matter or....
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....ch had been sanctioned for a post held by him substantively or in an officiating capacity, or to which he is entitled by reason of his position in a cadre: (ii) Special pay and personal pay: (iii) Any other amount which may be specially classified as pay by the Authority; (m) "Personal pay" means an additional pay granted to an employee- (i) To save him for a loss of substantive pay in respect of a permanent post due to a revision of pay or to any reduction of such substantive pay otherwise than as a disciplinary measure; or (ii) In exceptional circumstances, on other personal considerations; (n) "Special allowance" means an addition, in the nature of an allowance, to the pay attached to a post or of an employee, granted at the discretion of the Authority or its Competent Authority in consideration of the specially arduous nature of the duties attached to the post or required to be performed by the employee; (o) "Special pay" means an addition to the pay of a post of an employee granted at the discretion of the Authority or its Competent Authority in consideration of a specific addition to the work or responsibility; ....
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.... (a) Officers (Grade A, B, C, D, E, F and Executive Director); (b) Executive Assistant, Senior Executive Assistant, Executive Superintendent (c) Multi-Tasking Staff, Multi-Tasking Staff Grade A, Multi-Tasking Staff Grade B (2) The Authority shall specify from time to time the pay of each post or group of posts and shall grant approval for sanction of posts at the level of Executive Director while the Chairperson shall be the Competent Authority for sanction of posts up to Grade F. (3) All appointments in any grade or post shall be made by the competent authority at its discretion and no person shall have a right to be appointed to any particular post or grade. Provided, there shall be a provision for appointment of a full-time CVO or assigning additional charge of CVO to an ED or CGM level officer Recruitment (4) (a) Recruitment shall be made at the entry level in Grade A or in Grade B or in Grade C or in any other Grade as per the Recruitment Rules as may be specified by such method including by Campus Selection from professional institutions: (b) Mode of recruitment, Educational and other qualifications, age limit, experience and other inciden....
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.... or on contract, the appointment shall be approved by the Authority before an offer of appointment is issued to the person to be appointed on deputation or on contract. Appointment to be made on minimum pay 8. All initial appointments shall be made on the minimum pay of the grade to which the appointment is made provided the Competent Authority may keeping in view the higher academic qualifications, special experience of value to the Authority and salary in the previous job, grant additional increments, not exceeding four in the scale of pay fixed for the grade in which the appointment is made. Re-employment in Authority 9. (1) No person who has ceased to be in the service of the Authority may be re-employed without the specific sanction of, and on such terms and conditions as may be specified by the Authority. Person who has ceased to be in service of the Authority by way of removal or dismissal or compulsory retirement shall not be eligible for re-employment. (2) Except as otherwise provided by the Authority at the time of his re-employment, these Regulations shall apply to a person who is re-employed in the Authority, as if he had entered the service for the first....
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....airperson may waive the period of notice required under this sub-regulation for the reasons to be recorded in writing. Provided further that the employee shall not be entitled to set off any leave earned and not availed of by him against the period of such notice. (3) In the case of breach by an employee of the provisions of the sub-regulation (2), he shall be liable to pay to the Authority as compensation a sum equal to this substantive pay for the period of notice required of him. Provided that the payment of such compensation may be waived by the Chairperson, at his discretion. (4) Notwithstanding anything contained in sub-regulation (1), the resignation of an employee shall not be effective unless it is accepted by the competent authority. The competent authority may refuse to accept a resignation: (a) If disciplinary proceedings have been instituted against or are proposed to be instituted against the employee; (b) If the employee is under an obligation to serve the Authority for a specified period which has not yet expired; (c) The employee owes the Authority any sums of money; or (d) For any other sufficient ground if the employee....
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....ined in these Regulations, where an employee has ordinary leave earned but not availed of as on the date of retirement, he may, at his option. (a) be permitted to avail of leave subject to a maximum of ten months in respect of leave earned under these Regulations and in that case the employee will be deemed to have retired from service on the expiry of the leave; b) be paid a lumpsum amount which would be equivalent to pay as defined in Regulation 3 (1) of these Regulations as on the date of his retirement, for the unavailed ordinary leave earned subject to maximum of ten months plus all allowances normally admissible to the employee concerned during ordinary leave, after which he shall retire. Explanation :- "Date of Retirement" means the date on which the employee attains the age of superannuation in accordance with the provisions of the Regulation or the date on which he is retired by the Authority under sub- regulation (1) of the Regulation or the date on which the employee voluntarily retires in terms of sub-regulation (3) or sub-regulations (3A) of the Regulation as the case may be. Execution of Bond, etc. (6) Notwithstanding anything contained in t....
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....d notwithstanding his seniority in a grade no employee shall have a right to be promoted to any particular post or grade. Provided that an employee, who has put in a minimum of 3 years of service in any post or grade, when promotion opportunities arise, shall be eligible for consideration of promotion to a higher post. Provided further that an employee in any grade in the cadre of secretarial staff and MTS who possess requisite qualifications may be considered for switch over to the corresponding grade in the Officer cadre against such vacancies, which shall be 10% of total vacancies arising in a calendar year, as may be notified by the Competent Authority, subject to such employees qualifying in a departmental test conducted by the Competent Authority or by an outside agency engaged by the Authority and interview to be conducted by the Competent Authority for this purpose. (2) All promotions shall be against vacancies in sanctioned posts and shall be based on- (a) Seniority, merit and suitability in the cases of officers and Executive Assistants; (b) Seniority cum fitness in the cases of Multi-Tasking Staff. Provided that in assessing the suitability ....
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....r or from open market in the ordinary course as per the approved recruitment rules. (5) The Authority has the flexibility to offer better pay package if required, in order to attract the best talent in the industry. When accrue and payable 19. Subject to the provisions of these Regulations, pay and allowances shall accrue from the commencement of the service of an employee, and shall become payable on the afternoon of the last working day of each month in respect of the service performed during the said month. Provided that employee proceeding on ordinary leave other than extraordinary leave for a period not less than one month may be paid in advance one month's pay and allowance if he applies thereof. When not payable for part of a month 20. Pay and allowances shall not be payable for part of a month to an employee who leaves or discontinues his service without due notice during a month, unless such notice has been waived by the competent authority. When allowance to cease 21. Pay and allowances shall cease to accrue from the date as an employee ceases to be in service. In the case of an employee dismissed, removed or compulsorily retired from the Autho....
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....ch order withholding an increment shall state the period for which it is withheld and whether the postponement shall have the effect of postponing further increments: Provided that if in an increment scale there is an efficiency bar, an employee shall not draw increments above that bar until he has been certified fit to do so by the Competent Authority. On each occasion on which an employee is allowed to pass an efficiency bar which has previously been enforced against him, he shall be placed in the incremental scale at such stage as the authority competent to remove the bar may fix provided that such stage shall not be higher than that at which he would draw his pay if the bar had not been enforced against him and further that no increments granted on the removal of a bar shall have a retrospective effect. (5) The Chairperson may, grant stagnation increments to an employee who has reached the last stage in the concerned scale. Re-fixation of pay on promotion 25. (1) The pay of an employee promoted from one grade to another shall be initially fixed at the minimum in the scale of higher grade, the difference between the pay so fixed and the substantive pay of the employe....
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....) Study Leave (h) Other Special leave as may be specified by the Authority (2) Pay during leave shall be drawn at full or half rate of leave pay, according to the kind of leave availed of by the employee provided that no pay shall be admissible during the extraordinary leave. Authorities empowered to grant leave 28. The power to grant leave shall vest in the competent authority. All applications for leave shall be addressed by the employee to the authority empowered to grant leave. Power to refuse leave or recall an employee on leave 29. (1) Leave cannot be claimed as a matter of right. When the exigencies of the service so require, discretion to refuse or revoke leave of any description is reserved to the authority empowered to grant it, and an employee already on leave may be recalled by that authority when it considers necessary in the interest of the service of the Authority. Lapse of leave on cessation of service (2) Save as otherwise specifically provided in these Regulations, leave earned by an employee lapses on the date on which he ceases to be in service. Earlier return from leave (3) Unless he is permitted to do so by the authority whi....
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....employee was not in a position to intimate his absence for reasons beyond his control. (3) When an employee joins the service of the Authority at any time during the year, his entitlement to casual leave shall be at the rate of one day per month during that calendar year. (4) The casual leave, which has not been availed of at the end of the calendar year shall be credited to the extent of 50 % of such leave not availed of, to the ordinary leave account of the concerned employee. Fraction, if any, in such cases shall be ignored. Special Casual Leave 36. Notwithstanding anything contained in Regulation 35, the Chairperson may permit the grant of special casual leave. (1) When the absence from duty is necessitated by orders from the authorities empowered to issue quarantine orders not to attend office in consequence of any infectious disease in the family or household of any employee; (2) When the absence of an employee who is due to his having sustained a bodily injury while on duty and the absence is supported by certificate from the Medical Officer of the Authority or registered medial practitioner; (3) When the absence is necessitated by reas....
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....ay be decided by the competent authority from time to time. Special hardship leave for female employees. 36A. (1) Eligibility (a) A female employee confirmed in the services of the Authority and having completed five years of service in the Authority, is eligible to apply for special hardship leave. Provided that special hardship leave before completion of five years of service may be sanctioned in exceptional circumstances for the purpose provided in sub-regulation (2), on an application by such female employees and upon recommendation of the approving authority in accordance with sub-regulation (4); (b) A female employee may avail special hardship leave as extension of maternity leave irrespective of completion of service of five years in the Authority. (c) Approval of the special hardship leave shall be the sole discretion of the Authority, depending upon the grounds including the administrative exigencies of the Authority, reason for which the leave is sought for and merits of individual cases; (d) A female employee shall not proceed on special hardship leave without the approval of approving authority in accordance with sub-regulation ....
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....eckoned: (e) Special hardship leave once approved, shall be irrevocable; (f) Before expiry of the approved special hardship leave, a female employee shall not resume for duty without prior permission from the approving authority; (g) Special hardship leave may be availed irrespective of balance of leave of any other category, and may be combined with any categories of leave except casual leave, special casual leave, Special casual leave in lieu of joining time, and special leave; (h) Special hardship leave shall not be granted for avoiding transfer or posting or placement, etc.; (i) A female employee, who leaves the services of the Authority by resignation or voluntary retirement during the special hardship leave shall be liable to pay compensation to the Authority, which shall be a sum equal to her substantive pay for the period of notice as required of her in terms of these regulations; (j) A female employee, who leaves the services of the Authority by way of resignation or voluntary retirement during the special hardship leave or within five years after resuming office after availing such leave, shall be liable to pay to the ....
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....ry leave availed during the six month period thereafter ending on 30th September or 31st March shall be deducted from such account; Provided that if ordinary leaves sanctioned is for less than 15 days, the balance shall be credited to the ordinary leave account subject to the ceiling of 300 days at the close of that half year. Provided further that an employee shall have his ordinary leave sanctioned and availed before 30th September or 31st March as leaves beyond 300 days will lapse on 30th September or 31st March, as the case may be. (iv) No employee shall earn ordinary leave when he is on leave other than casual leave for a continuous period of more than 6 months. If an employee renders less than 6 months of service in any half year, he shall be credited with one day for every 11 days of duty. (v) Fractions of a day of ordinary leave shall be taken as full day if amounting to half a day or more, and shall be ignored if amounting to less than half a day. (2) The period of ordinary leave, which can be taken at one time by an employee shall not be less than five days. Provided that the employee may take less than 5 days when he does not have casual leave to his cr....
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....tion of the Competent Authority. Maternity leave 40. (1) Maternity leave, which shall be on leave pay, may be granted to a female employee up to a period of 180 days on full pay at a time and not more than 360 days during the entire period of service. (2) Female employees undergoing hysterectomy operation may also claim maternity leave for a period not exceeding 20 days (including stay in hospital) within the overall ceiling of 360 days. (3) Leave not exceeding 45 days may be granted to a female employee during the entire service of the female employee in case of miscarriage including abortion on production of medical certificate within the overall ceiling of 360 days. (4) A competent authority may grant leave of any other kind admissible to the female employee in combination with, or in continuation of maternity leave if the request for its grant is supported by requisite medical certificate. Paternity Leave 40A.(1) Paternity leave may be granted to a male staff member (natural father), with less than two surviving children, during the confinement of his wife for child birth, for a period of fifteen days per child, during the period between fifteen days prior ....
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....f extraordinary leave and the period spent on such leave shall not count for increments; Provided that, in cases where the sanctioning authority is satisfied that the leave was taken on account of illness or for any other cause beyond the employee's control, it may direct that the period of extraordinary leave may count for increments. Special leave 43. (1) During the full period of his service an employee may be granted special leave on private affairs for a period not exceeding 360 days. Special leave may not be availed of if ordinary leave is admissible; Provided that an employee may be granted special leave if he is suffering from a disease requiring prolonged treatment and he has no ordinary leave and sick leave at his credit and is also not eligible. (2) In case an employee is absent from duty on account of quarantine, the Authority may at the request of the employee, treat such absence up to a maximum of 90 days as ordinary, sick or special leave if such leave is otherwise permissible. Special leave under the sub-regulation may be availed of even if ordinary leave is admissible. (3) Study Leave: The Chairperson may sanction the study leave for the purpo....
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....nths or such other extended period as may be agreed to by the Authority for submitting supplementary travelling allowance bill in respect of his family and personal effects provided he has requested the office to this effect before proceeding on transfer. Saturdays/Sundays/holidays prefixed to Special Casual Leave in lieu of joining time shall be excluded but Saturdays/Sundays/holidays intervening such Special Casual Leave shall be reckoned as Special Casual Leave. (7) Where an employee on transfer from one station to another does not avail the entire joining time including special casual leave referred to in sub-regulation (6) or the same has been curtailed due to exigencies of Authority's service, the unavailed joining time will be added to the Ordinary Leave account of the employee. Overstayed after joining time 46. An employee who does not join his post within the joining time allowed to him shall be deemed to have committed a breach of Regulation 60. CHAPTER VI CONDUCT, DISCIPLINE AND APPEALS Scope of an employee's service 47. Unless it be otherwise distinctly provided, the whole time of an employee shall be at the disposal of the Authority and he/....
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....ce of his official duties or in the exercise of powers conferred on him, act otherwise than in his best judgment except when he is acting under the direction of his superior. (5) Every employee shall take all possible steps to ensure the integrity and devotion to duty of all persons for the time being under his control and authority. Prohibition against participation in politics and standing for election 51. No employee shall take active part in politics or in any political demonstration, or stand for election as member, of a Municipal Council, District Authority or any other Local Body or any Legislative Body. Prohibition against joining certain associations and strikes, etc. 52. No employee shall- (a) Become or continue to be a member or office bearer of, or be otherwise directly or indirectly associated with, any trade union of employees of the Authority or a federation of such trade unions or (b) Resort to, or in any way abet, any form of strike or participate in any violent, unseemly or indecent demonstration in connection with any matter pertaining to his conditions of service or the conditions of service of any other employee of the Authority....
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....atters in respect of which such practice is to be set up are such as are likely to give his clients an unfair advantage by reason of his previous official position or (c ) Undertaking work involving liaison or contact with the offices or officers of the Authority. Explanation: For the purposes of this clause, "employment under a cooperative society" includes the holdings of any office, whether elective or otherwise such as that of President, Chairman, Manager, Secretary, Treasurer and the like, by whatever name called in such society. (3) Notwithstanding anything contained in sub-regulation (1), no employee of the Authority, including employees on contract shall within a period of one year from the date that he finally ceases to be in Authority's service, accept or undertake an employment or be in any manner associated with an intermediary registered with the Authority, except with the prior written approval of the Competent Authority: Provided that the employee would be required to seek fresh approval from the Authority in the event of seeking employment with another intermediary registered with the Authority or associating in any other mann....
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....te Legislature; or (b) in any judicial enquiry; or (c ) at any departmental enquiry ordered by the competent authority. Seeking to influence 58. No employee shall bring or attempt to bring any political or other outside influence to bear upon any superior authority to further his interests in respect of matters pertaining to his services in the Authority. Part-time work 59. No employee shall undertake part-time work for a private or public body or a private person, or accept any fee thereof, without the sanction of the competent authority which shall grant the sanction only in exceptional cases when it is satisfied that the work can be undertaken without detriment to his official duties and responsibilities. The competent authority may, in cases in which it thinks fit to grant such sanction, stipulate that any fees received by the employee for undertaking the work shall be paid, in whole or in part, to the Authority. Employee not to be absent from duty without permission or be late in attendance 60.(1) An employee shall not absent himself from his duties without having first obtained the permission of the competent authority, nor shall absent himself in case of si....
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....mployee or with the Authority. (2) An employee of the Authority may accept gifts from his near relatives or from his personal friends having no official dealings with them, on occasions such as wedding, anniversaries, funerals and religious functions when the making of gifts is in conformity with the prevailing religious and social practice, but he shall make a report to the Competent Authority if the value of such gifts exceeds Rs 25,000/ -. (3) No employee of the Authority shall accept any gift without the sanction of the Authority if the value of gift exceeds Rs 5,000/- except as in regulation 62(2). (4) An employee shall not- (a) Give or take or abet the giving or taking of dowry or (b) Demand directly or indirectly from the parents or guardians of a bride or bridegroom, as the case may be, any 'dowry'. Explanation: - In this Regulation, the term 'dowry' shall have the same meaning as in the Dowry Prohibition Act, 1961. Private trading 63. No employee shall engage in any commercial business or pursue it either on his own account or as agent for others, nor act as an agent for an insurance company nor shall he be connected with....
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....assets and liabilities as per sub-section (4) of Section 44 of the Lokpal and Lokayuktas Act, 2013. (2) No employee shall, except with the previous knowledge of the competent authority, acquire or dispose of any immovable property by lease, mortgage, purchase, sale, gift or otherwise either in his own name or in the name of any member of his family. (3) Provided that the previous sanction of the competent authority shall be obtained by the employee if any such transaction is with a person having official dealings with the employee. Where an employee enters into a transaction in respect of movable property either in his own name or in the name of the member of his family, he shall within 30 days from the date of such transaction, report the same to the competent authority, if the value of such property exceeds such amount as may be specified by the Competent Authority from time to time. (4) Provided that the previous sanction of the competent authority shall be obtained by the employee if any such transaction is with a person having official dealings with the employee. The competent authority may, at any time, by general or special order require an employee to furnish....
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.... associate himself with the raising of any funds or other collections in cash or in kind in pursuance of any objective whatsoever. Not to misuse official position 71.(1) No employee shall; (a) Ever encourage outside agencies to call on him at his residence/temporary headquarters while on tour or discussion on official matters. (b) In dealing with the market intermediaries and public for seeking any clarification on matters relating to them, resort to oral clarifications and personal discussions as far as possible and written communication shall be the normal practice. (c) Use office facilities like letter heads for writing to the companies asking them to consider allotment of shares/securities to their family members, friends or associates on expiry of the relevant dates or otherwise. (d) Ever involve in any type of activities/favors and physical facilities so as to place himself in an embarrassing position in the discharge of his duties with integrity and fairness. (2) An employee is strictly prohibited from using his official position for any personal favour for himself or his family members or his relatives or friends. Prohibition ....
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....asonable time if it appears having regard to his personal resources and unavoidable current expenses that he will not cease to be in debt within a period of two years. Employees arrested on criminal charges 74. (1) An employee who is arrested for non-repayment of debt or on a criminal charge or is detained in pursuance of any process of law, shall be considered to be under deemed suspension from the date of his arrest or, as the case may be, of his detention, up to such date or during such other period as the competent authority may direct. In respect of the period in regard to which he is so treated, he shall be allowed the payment admissible to an employee under suspension under sub-regulation (6) of Regulation 86. (2) Any payment made to an employee under sub-regulation (1) shall be subject to adjustment of his pay and allowance which shall be made according to the circumstances of the case and in the light of the decision as to whether such period is to be accounted for as a period of duty or leave; (a) is treated as on duty during such period if he/she is acquitted of all blame or satisfies the competent authority that he had not been guilty of improper condu....
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....n respect of a matter pertaining to the employees' service in the Authority. Addressing such appeals, representations or petitions shall be deemed a breach of discipline. Criticism of Authority or Government 77. No employee shall, in any radio broadcast, telecast through any electronic media or any document published in his own name or anonymously, pseudonymously or in the name of any other person or in any communication to the press or in any public utterance, make any statement of fact or opinion which has the effect of an adverse criticism of any current or recent policy or action of the Authority or Government. Provided that nothing in this regulation shall apply to any statements made or views expressed by an employee in his official capacity or in the due performance of the duties assigned to him. Not to misuse residential accommodation or other facilities 78. (1) An employee shall not misuse the residential accommodation or any other facility or concession granted by the Authority. (2) Save as otherwise expressly permitted by the Authority, no employee shall, sub-let, lease or otherwise allow occupation by any other person of Authority's residential....
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.... The steps for conducting inquiry in the case of allegations of Sexual Harassment shall be as stipulated in the DoPT OM dated 16.07.2015 issued vide F.No. 11013/2/2014-Estt(A-III) amended from time to time. (iii) the findings of the Complains Committee shall be in the form of a report, which complies with the requirements of sub-regulation (21) of regulation 80 and such report shall be deemed to be an inquiry report for the purposes of these regulations. (8) Nothing contained in this regulation shall be construed to prejudice the powers of the Complaints Committee to provide counseling or other support service. (9) The Competent Authority shall be the Disciplinary Authority with regard to initiation of disciplinary proceedings and imposing of penalties for proven violation of conduct rules. Penalties 79. Without prejudice to the other provisions of these Regulations, an employee who commits a breach of any regulation of the Authority or who displays negligence, inefficiency or indolence, or who knowingly does anything detrimental to the interests of the Authority in conflict with its instructions, or who commits a breach of discipline or is guilty of any other ....
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.... such higher grade or post, or on administrative grounds unconnected with his conduct; (v) Reversion to his previous grade or post, of an employee appointed on probation to another grade or post, during or at the end of the period of probation, in accordance with the terms of his appointment or regulations or orders governing such probation: (vi) Termination of the service: - (a) of an employee appointed on probation, during or at the end of the period of probation, in accordance with the terms of his appointment, or the regulations or orders governing such probation; (b) of an employee appointed in a temporary capacity otherwise than under a contract or agreement, on the expiration of the period for which he was appointed, or earlier in accordance with the terms of his appointment; (c) of an employee appointed under a contract or agreement, in accordance with the terms of such contract or agreement; and (d) of an employee on abolition of post. (vii) Termination of employment of an employee on medical grounds, if he is declared unfit to continue in the Authority's service by the Authority's Medical Officer; ....
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....may not be necessary to hold an inquiry in respect of the articles of charge admitted by the employee in his written statement but shall be necessary to record its findings on each such charge. (5) The Competent Authority shall, where it is not the Inquiry Officer, forward to the Inquiry Officer; (i) a copy of the articles of charges and statements of imputations of misconduct or misbehavior; (ii) a copy of the written statement of defense, if any submitted by the employee; (iii) a list of documents by which and list of witnesses by whom the articles of charge are proposed to be substantiated; (iv) a copy of statements of the witnesses, if any; (v) Evidence providing the delivery of articles of charge under sub-regulation (3) (vi) a copy of the order appointing the 'Presenting Officer' it terms of sub-regulation (6). (6) Where the Competent Authority itself inquires or appoints an inquiring authority for holding an inquiry, it may, by an order, appoint an officer to be known as the "Presenting Officer" to present on its behalf the case in support of the articles of charge. (7) The employee may take the assistanc....
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.... notice for the discovery or production of the documents, forward the same or copies thereof to the authority in whose custody or possession the documents are kept with a requisition for the production of the documents on such date as may be specified. (12) On the receipt of the requisition under sub regulation (11), the authority having the custody or possession of the requisitioned documents shall arrange to produce the same before the Inquiry Officer on the date, place and time specified in the requisition; Provided that the authority having the custody or possession of the requisitioned documents may claim privilege if the production of such documents will be against the public interest or the interest of the Authority. In that event, it shall inform the Inquiry Officer accordingly. (13) On the date fixed for the inquiry, the oral or documentary evidence by which the articles of charge are proposed to be proved shall be produced by or on behalf of the Competent Authority. The witnesses produced by the Presenting Officer shall be examined by the Presenting Officer and may be cross- examined by or on behalf of the employee. The Presenting Officer shall be entitled ....
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....n, or through the assisting officer or otherwise fails or refuses to comply with any of the provisions of these regulations, the Inquiry Officer may hold the inquiry exparte. (20) Whenever any Inquiry Officer, after having heard and recorded the whole or any part of the evidence in an inquiry ceases to exercise jurisdiction therein, and is succeeded by another Inquiry Officer which has, and which exercises, such jurisdiction, the Inquiry Officer so succeeding may act on the evidence so recorded by its predecessor, or partly recorded by its predecessor and partly recorded by itself: Provided that if the succeeding Inquiry Officer is of the opinion that further examination of any of the witnesses whose evidence has already been recorded is necessary in the interest of justice, it may recall, examine, cross-examine and re- examine any such witnesses as herein before provided. (21) (i) On the conclusion of the inquiry, the inquiry officer shall prepare a report which shall contain the following: (a) a gist of the articles of charge and the statement of the imputations of misconduct or misbehavior; (b) a gist of the defense of the employee in respect of each a....
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....ng minor penalties 82. (1) Where it is proposed to impose any of the minor penalties specified in clauses(a) to (e) of regulation 79(I), the employee concerned shall be informed in writing of the imputations of lapses against him and given an opportunity to submit his written statement of defense within a specified period not exceeding 15 days or such extended period as may be granted by the Competent Authority and the defense statement, if any, submitted by the employee shall be taken into consideration by the Competent Authority before passing orders. (2) Where however, the Competent Authority is satisfied that an inquiry is necessary, it shall follow the procedure for imposing a major penalty as laid down in regulation 80. (3) The record of the proceedings in such cases shall include: (a) A copy of the statement of imputations of lapses furnished to the employee; (b) The defense statement, if any, of the employee; and (c) The orders of the Competent Authority together with the reasons thereon. Communication of orders 83. Orders made by the Competent Authority under regulation 81 or regulation 82 shall be communicated to the employee conc....
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....is remitted for further enquiry or action or with any other directions, the order of his suspension shall be deemed to have been continued in force on and from the date of original order of dismissal, removal or compulsory retirement and shall remain in force until further orders. (4) Where a penalty of dismissal or removal or compulsory retirement from service imposed upon an employee is set aside or declared or rendered void in consequence of or by a decision of a Court of Law and the Competent Authority, on a consideration of a circumstances of the case, decides to hold further enquiry against him on the allegations on which a penalty of dismissal, removal or compulsory retirement was originally imposed, the employee shall be deemed to have been placed under suspension by the Competent Authority from the date of the original order of dismissal, removal or compulsory retirement and shall continue to remain under suspension until further orders. Provided that no such further enquiry shall be ordered unless it is intended to meet a situation where the Court has passed an order purely on technical grounds without going into the merits of the case. (5) An order of suspension....
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....Bureau of Investigation or the Central Vigilance Commission or any other such agency as may be approved by the Chairperson. (2) If after considering the report of the investigation, the competent authority is satisfied that there is a prima facie case for instituting disciplinary proceedings against the employee, it may send the investigation report to the Central Vigilance Commission or such other authority as may be decided by the Chairperson from time to time in this behalf, for its advice whether disciplinary proceedings should be taken against the employee concerned; (3) If after considering the advice of the Central Vigilance Commission or other authority, as the case may be, the competent authority is of the opinion that disciplinary proceedings should be instituted against the employee concerned, then notwithstanding the provisions of Regulation 80(2), the enquiry under this Regulation may be entrusted to a Commissioner for Departmental Enquiries or other person who may be nominated by the Central Vigilance Commission for this purpose. (4) The Inquiry Officer shall submit his report to the competent authority and the report shall be forwarded to t....
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.... provided in regulation 80 has not already been held in the case, the Appellate Authority shall direct that such an inquiry be held in accordance with the provisions of regulation 80 and thereafter consider the record of the inquiry and pass such orders as it may deem proper. (ii) if the Appellate Authority decides to enhance the punishment but an inquiry has already been held as provided in regulation 80. The Appellate Authority shall give a show cause notice to the employee as to why the enhanced penalty should not be imposed upon him and shall pass final order after taking into account the representation, if any, submitted by the employee. CHAPTER VII MISCELLANEOUS Medical aid facilities 89. (1) Medical aid and facilities shall be provided by the Authority for its employees and such of their dependents in accordance with such guidelines as may be approved by the Authority from time to time. The said guidelines, may, 'inter alia', provide for illness, injuries arising out of accidents, hospitalization and domicile treatment. (2) Without prejudice to sub-regulation (1) the Authority may take a comprehensive health insurance policy covering all its e....
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....otherwise specified in these regulations, every employee shall become a member of the IFSCA New Pension Scheme and shall agree to be bound by the Rules of the Scheme. (2) Notwithstanding anything contained in sub-regulation (1), every whole-time employee joining the services of the Authority, on and from such date, as may be specified, shall only become a member of the IFSCA New Pension Scheme and shall agree to be bound by the Rules of the Scheme. (3) Every whole-time employee of the Authority who gets absorbed on deputation who is a member of the CPF/GPF scheme, prior to such date as may be specified, shall be given an option to continue with CPF/GPF scheme or to become a member of the IFSCA New Pension Scheme, in such manner as may be specified. Obligation to subscribe to the insurance scheme or fund instituted by the Authority 95. It is mandatory on every employee to bound by these Regulation to subscribe to any insurance scheme or fund that may be instituted by the Authority for the benefit of its employees and their families and to be bound by the rules of the said scheme or fund; Provided that nothing contained in this Regulation shall serve to curtail any sup....
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....ot less than 20 years of experience in dealing with subjects relating to securities market, Banking, Insurance, Pension, financial products, financial services or special knowledge /experience of law, investigation, Finance, Economics, Accountancy, Administration or any other discipline considered useful to the Authority. 6. Composition of the selection Committee Chairperson, two other Members of the Authority and two external experts to be nominated by the Chairperson shall constitute the Selection Committee. 7. Appointing Authority IFSC Authority 1. Name of the Post: Executive Director 2. Name of the Post: Officers of Grade F(Chief General Manager) S.No. Particulars Description 1. Sanctioned strength of CGM (Officer Grade F) 09 2. Mode of Recruitment & proportion of posts to be filled up through different modes (a) 75% of sanctioned posts to be filled on promotion failing which Deputation. (b) 25% of the sanctioned posts shall be filled on Direct Recruitment/Deputation. In case of non-availability either on both the categories or on Direct Recruitment/deputation, the post may be filled on contract basis for a maximum period....
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....nce review. 3. Age, Qualification & Experience for Direct recruits/Contract Recruits, wherever applicable Not more than 48 years of age as upper limit. Master's Degree with specialization in Statistics / Economics / Commerce / Business Administration (Finance) / Econometrics. Bachelor's Degree information technology/ computer science/ Masters in Computers Application/ information technology. Bachelor's Degree in Commerce with CA, CFA, CS and ICWA. Bachelor's Degree in Law or in any other discipline from a recognized University/Institute, which in the opinion of the Authority is useful. Must possess minimum of 14 years experience in the fields of financial products, financial services and financial institutions. 4. Length of service for Promotion Promotion of internal candidates from Grade D with minimum of 3 years service in the Grade. 5. Qualification & Experience for Deputation Candidate must possess not less than 14 years of experience for Grade-E in All-India Service/ Central Civil Service as Group A officer or equivalent experience in RBI, SEBI, IRDAI, PFRDA Banks, Financial Institutions, academic Institutions and other....
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....s, Central/State Statutory/Autonomous/ Subordinate Authorities or an Officer in RBI, SEBI, IRDAI, PFRDA Banks, Financial Institutions, academic Institutions and. The experience shall be in dealing with the activities relating to securities market, Insurance, Banking, Pension, financial products and financial services, special knowledge / experience of law, investigation, finance, Economics, Accountancy, Administration or any other discipline considered useful to the Authority. 6. Composition of the selection Committee Minimum three members (two Internal and one external) to be nominated by the Chairperson. 7. Appointing Authority Chairperson, IFSCA 5. Name of the Post: Assistant General Manager (Officer Grade C) S.No. Particulars Description 1. Sanctioned strength of AGM (Officer Grade C) 20 2. Mode of Recruitment & proportion of posts to be filled up through different modes (a) Direct Recruitment/Deputation: 25% of sanctioned posts to be filled in this category. (b) Promotion failing which Deputation (including absorption): 75% of sanctioned posts to be filled in this category. In case of non-availability of suitable candidates....
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....n Deputation, posts may be filled on Contract Basis for a maximum period of five years subject to annual performance review. 3. Age, Qualification & Experience for Direct recruits/Contract Recruits, wherever applicable Not more than 30 years of age as upper limit. Master's Degree with specialization in Statistics / Economics / Commerce / Business Administration (Finance) / Econometrics. Bachelor's Degree information technology/ computer science/ Masters in Computers Application/ information technology. Bachelor's Degree in Commerce with CA, CFA, CS, ICWA. Bachelor's Degree in Law or in any other discipline from a recognized University/Institute, which in the opinion of the Authority is useful. For contractual Recruitment: A candidate must possess minimum 3 years of post qualification experience in the fields of financial products, financial services and financial institutions. 4. Length of service for Promotion Promotion of internal candidates from Grade A with minimum of 3 years service. 5. Qualification & Experience for Deputation Candidate must possess not less than 3 years of experience for Grade-B as Group A Officer in ....
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....dealing with the activities relating to securities market, Insurance, Banking, Pension, financial products and financial services, special knowledge / experience of law, investigation, finance, Economics, Accountancy, Administration or any other discipline considered useful to the Authority. 5. Composition of the selection Committee Minimum three members (two Internal and one external) to be nominated by the Chairperson. 6. Appointing Authority Chairperson, IFSCA 8. Secretarial Staff S.No. Particulars Description 1. Name of the Posts Executive Assistant Sr. Executive Assistant Executive Superintendent 2. Number of sanctioned posts 20 3. Mode of Recruitment & proportion of posts to be filled up through different modes Direct Recruitment/Contract(Only through Written Examination) In case of non-availability of suitable candidates, posts may be filled on Contract Basis for a maximum period of five years subject to annual performance review. 4. Age, Qualification & Experience for Direct recruits/Contract Recruits, wherever applicable Not more than 30 years of age as upper limit. Mandatory Qualification: Ba....
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....irperson, IFSCA(To be delegated to ED in due course) 1. General / Relaxation: a) In the event of non-availability of adequate number of candidates for interview, the minimum eligible service of three years for promotion to the next higher grade or post may be relaxed by the competent authority upto a period not exceeding six months. b) The crucial date for determining the upper age limit specified in the Recruitment Rules shall be the date indicated in the advertisement. c) The upper age limit may be relaxed by the Competent Authority upto a maximum of three years for the reason to be recorded in writing, if in the opinion of the Competent Authority sufficient number of candidates with the prescribed age limit is not likely to be forthcoming and high academic and professional qualifications and experience of the candidates. d) The Authority may, after recording the reasons in writing, relax the minimum qualifications and experience required for various posts. 2. Reservations: a) Reservation, relaxation of age limit and other concessions required to be provided for candidates belonging to the Scheduled Caste, Scheduled T....
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....be to the NPS and shall be governed by the rules thereof. 3. The option to decide the Pension Fund Manager (PFM) and the investment choice to manage individual NPS fund rests with the employees. 4. Contribution to NPS: a) Employees shall compulsorily contribute 10% of his pay (Basic Pay + Dearness allowance + Grade Allowance + Special Allowance + Special Pay + Personal Allowance) to NPS or as decided by the Authority from time to time. The Authority shall make 14% contribution to the NPS. b) Employees will also have the option to contribute additional amount to NPS i.e., contribution over and above the minimum required contribution. In any case, the contribution of the Authority shall only be to the extent of the compulsory contribution. 5. The initial subscriber registration charge and the monthly contribution processing charge shall be borne by the Authority. Any other charges arising out of the investment are to be borne by the employee. 6. Any tax implications regarding the contributions to NPS shall be subject to the provisions of the Income Tax Act, 1961. Group Mediclaim Floater policy for International financial Services Centres Authority (IF....
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.... born babies above 3 months of age, mid- term inclusion is permissible, subject to submission of declaration. 4. Family for the purpose of medical facilities a) Spouse The medical facilities will be provided to the spouse irrespective of their monthly income, subject to the condition that no coverage under any medical scheme is available from his/her employer. b) Children Provided they normally reside with the employee and their monthly income does not exceed Rs.1500/- p.m. Married children are not eligible. The medical facilities will be restricted to two children only and as per the terms of the insurance policy. No coverage will be provided to children below the age of three months. c) Parents Provided they normally reside with the employee and subject to the condition that their combined monthly income from all sources is less than Rs.1,500/ -. However, a female employee can claim the concession for either dependent parents or parents-in-law (monthly income from all sources should be less than Rs.1,000/-), with prior declaration. This option can be changed only once during the service period. d) In case both Wife....