Section 15(1) in National Housing Bank Employees (Conduct) Regulations, 1994
(1)No employee of the National Housing Bank, who has retired from service shall, within a period of two years from the date when he finally ceases to be in the National Housing Bank's Service, accept or undertake a commercial employment except with the previous sanction in writing of the competent authority :Provided that an employee who was permitted by the National Housing Bank to take up a particular form of commercial employment during his leave preparatory to retirement or during refused leave shall not be required to obtain subsequent permission for his continuance in such employment after retirement.
