Section 45 in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
45. Submission of returns of movable, immovable and valuable properties .-(1) Every officer or other employee shall on his first appointment to any service or post in the Authority submit a return of his assets and liabilities in such form as may be specified by the Authority giving the full particulars regarding,-
(a)the immovable property inherited by him, or owned or acquired by him or held by him on lease or mortgage, either in his own name or in the name of any member of his family or in the name of any other person;(b)shares, debentures and cash including bank deposits inherited by him or similarly owned, acquired, or held by him;(c)other movable property inherited by him or similarly owned, acquired or held by him; and(d)debts and other liabilities incurred by him directly or indirectly.(2)Every officer or other employee belonging to any grade shall submit an annual return in such form as may be specified by the authority giving full details regarding the immovable property inherited by him or owned or acquired by him or held by him on lease or mortgage either in his own name or in the name of any member of his family.(3)No officer or other employee except with the previous knowledge of the Authority, acquired or dispose of any immovable property by lease, mortgage, purchase, sale, gift or otherwise either in his own name or in the name of any member of his family:Provided that the previous sanction of the Authority shall be obtained by the officer or other employee if any such transaction is with the person or an Indian insurance company having official dealings with him.(4)Where the officer or other employee enters into a transaction in respect of movable property either in his own name or in the name of the member of the family, he shall, within sixty days from the date of such transaction report the same to the Authority.
