Section 23(5) in Khadi And Village Industries Commission Employees (Conduct) Regulations, 2003
(5)The Chief Executive Officer may exempt any category of employees belonging to Group 'C' or Group D' from any of the provisions of this regulation except sub-regulation (4).Explanation. I. - For the purposes of this regulation the expression movable property includes-(a)jewellery, insurance policies, the annual premia of which exceeds [two months] [Substituted 'rupees ten thousand or one-sixth of the total annual emoluments received from Commission, whichever is less' by Notification No. G.S.R. 707(E), dated 19.7.2016.], shares, securities and debentures ;(b)all loans, whether secured or not, advanced or taken by the employee ;(c)motor cars, motor cycles, horses or any other means of conveyance; and(d)refrigerators, radios, electric and electronic items.Explanation. II. - For the purposes of this regulation ' lease' means, except where it is obtained from, or granted to, a person having official dealings with the employee, a lease of immovable property from year to year or for any term exceeding one year or reserving a yearly rent.
