Section 3 in Life Insurance Corporation of India (Staff) Rules, 1960
3. Definitions.
- In these [Rules] [Substituted 'Regulations' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).], unless there is anything repugnant in the subject or context:(a)"Act" means the Life Insurance Corporation Act, 1956.(b)"Compensatory allowance" means an allowance granted to meet personal expenditure necessitated by the special circumstances in which duty is performed (e.g. fixed travelling allowance, conveyance allowance, etc.) and is payable during the period such conditions exist.(c)"Competent authority" means the authority specified in Schedule-IV to discharge the functions laid down in these [Rules] [Substituted 'Regulations' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).].(d)"Corporation" means the Life Insurance Corporation of India.(da)[ "Executive Director" shall mean any officer of the Corporation appointed as an Executive Director and so designated.] [Inserted by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).](e)"Insurer" in respect of a "transferred employee" shall mean the insurer in whose service the employee was working immediately prior to the Appointed Day.(f)"Lien" means the title of an employee to hold substantively, either immediately or on the termination of a period or periods of absence, a permanent post to which he has been appointed substantively i.e., held in a permanent capacity.(g)"Officiate" An employee officiates in a post when he performs the duties of a post on which another person holds a lien. The appointing authority may, if it, thinks fit appoint an employee to officiate in a vacant post on which no other employee holds a lien.(h)"Personal pay" means an additional pay granted(i)to save an employee from the loss of salary due to any reduction of salary otherwise than as disciplinary measure; or(ii)in exceptional circumstances, on other personal considerations.(i)[ "Salary" means the basic pay, additions to basic pay after reaching maximum of the scale of pay, dearness allowance, additional dearness allowance, special allowance payable to Class-III and Class-IV employees, functional allowance, house rent allowance, city compensatory allowance, personal allowance, special area allowance, conveyance allowance, graduation allowance, fixed personal allowance, hill allowance, special allowance for passing examinations wherever payable to Class-III employees but excludes all other allowances and overtime payments.] [Notified in Gazette of India, Part-III Section 3 dated 22.6.2000.](j)[ "Service" means the period spent on duty and leave including extraordinary leave.] [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.](k)"Special pay" means an addition of the nature of pay to the emoluments of a post or of an employee in consideration of(i)the specially arduous nature of duties; or(ii)specific addition to the work or responsibility.(l)"Transferred employee" shall mean an employee of an insurer or of a Chief Agent who was deemed to have become an employee of the Corporation on the Appointed Day under Section 11 or Section 12 of the Life Insurance Corporation Act.All words and expressions used herein and not defined herein but defined in the Life Insurance Corporation Act, 1956 or the Insurance Act,1938 or the Rules made under the above Acts or the Life Insurance Corporation [Rules] [Substituted 'Regulations' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).] shall have respectively the meaning assigned to them in those Acts or Rules or [Rules] [Substituted 'Regulations' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).] unless otherwise provided in the contracts.
