Section 46 in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
46. Restrictions in relation to acquisition and disposal of immovable property outside India and transactions with foreigners, etc .-Notwithstanding anything contained in sub-regulation (3) of regulation 45, no officer and other employee, except with the previous sanction of the authority,-
(a)acquire, by purchase, mortgage, lease, gift or otherwise, either in his own name or in the name of any member of his family, any immovable property situated outside India;(b)dispose of, by sale, mortgage, gift or otherwise or grant any lease in respect of any immovable property situated outside India which was acquired or is held by him either in his own name or in the name of any member of his family;(c)enter into any transaction with any foreigner, foreign Government, foreign organisation or concern-(i)for the acquisition, by purchase, mortgage, lease, gift or otherwise, either in his own name or in the name of any member of his family, or any immovable property;(ii)for the disposal of, by sale, mortgage, gift or otherwise, or the grant of any lease in respect of any immovable property which was acquired or is held by him either in his own name or in the name of any member of his family.
