Section 50(3) in The Life Insurance Corporation of India (Employees) Pension Rules, 1995
(3)In granting or refusing permission under sub-rule (2) to a pensioner for taking up any commercial employment, the Corporation shall have regard to the following factors, namely:(a)the nature of the employment proposed to be taken up and the antecedents of the employer;(b)whether his duties in the employment which he proposes to take up might be such as to bring him into conflict with the Corporation;(c)whether the pensioner while in service had any such dealing with the employer under whom he proposes to seek employment as it might afford a reasonable basis for the suspicion that such pensioner had shown favours to such employer;(d)whether the duties of the commercial employment proposed involve liaison or contact work with Corporation;(e)whether his commercial duties will be such that his previous official position or knowledge or experience under Corporation could be used to give the proposed employer an unfair advantage;(f)the emoluments offered by the proposed employer; and(g)any other relevant factor.
