Section 7(2) in The Chennai Corporation Servants Conduct Rules, 1968
(2)A Corporation servant who enters into transaction concerning any movable property exceeding five hundred rupees in value, whether by way of purchase, sale or otherwise, shall forthwith report such transaction to the prescribed authority:Provided that no Corporation servant shall enter into any such transaction except with or through a regular or reputed dealer or agent or with the previous sanction of the said prescribed authority :Provided further that a Corporation servant, who is about to quit the local limits of his official authority may, without reference to the prescribed authority, dispose of any of his movable property by circulating lists of it among the public generally or by causing it to be sold by public auction.Explanation. - For the purposes of this sub-rule, the expression "movable property" includes the following property, namely:-(a)Jewellery, insurance policies, shares, securities and debentures;(b)loans, advances by such Corporation servant, whether secured or not; or(c)motor cars, motor cycles, horses or any other means of conveyance; and(d)refrigerators, radios and radiograms.For the purpose of sub-rules (1) and (2), the Tamil Nadu State Housing Board constituted under the [Tamil Nadu] [This Act was repealed and re-enacted as the Tamil Nadu Co-operative Societies Act, 1983 (Tamil Nadu Act 30 of 1983).] State Housing Board Act, 1961 [Tamil Nadu] [This Act was repealed and re-enacted as the Tamil Nadu Co-operative Societies Act, 1983 (Tamil Nadu Act 30 of 1983).] Act 17 of 1961) or any Housing Unit established by the said Board or a society registered or deemed to be registered as a co-operative society under the [Tamil Nadu] [This Act was repealed and re-enacted as the Tamil Nadu Co-operative Societies Act, 1983 (Tamil Nadu Act 30 of 1983).] Co-operative Societies Act, 1961 ([Tamil Nadu] [This Act was repealed and re-enacted as the Tamil Nadu Co-operative Societies Act, 1983 (Tamil Nadu Act 30 of 1983).] Act 53 of 1961), shall be deemed to be a regular or reputed dealer.
