Section 15 in National Housing Bank Employees (Conduct) Regulations, 1994
15. Employment after retirement.
(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.(2)For the purpose of this Regulation, "commercial employment" means,.-(i)an employment in any capacity including that of an agent, under a Company, Co-operative Society, firm or individual engaged in trade, commercial, industrial, financial or professional business and also includes a directorship of such a company and partnership of such firm but does not include employment under a body corporate wholly or substantially held or controlled by Government;(ii)setting up a practice, either independently or as a partner of a firm, as adviser or consultant in matters in respect of which the retired officer-(a)has no professional qualifications and the matters in respect of which the practice is to be set up or is carried on are relatable to his official knowledge or experience; or(b)has professional qualifications but the matters in respect of which such practice is to be set up are such as are likely to give his clients an unfair advantage by reason of his previous official position; or(iii)undertaking work involving liaison or contact with the offices or officers of the National Housing Bank and/or Government.Explanation. - For the purposes of this clause "employment under a co-operative society" includes the holding of any office, whether elective or otherwise such as that of President, Chairman, Manager, Secretary, Treasurer and the like, by whatever name called in such society.
