Section 33 in Life Insurance Corporation of India (Staff) Rules, 1960
33. Speculation in Stocks, Shares, etc.
(1)No employee shall speculate in any investment.Explanation: Habitual purchase or sale of securities of notoriously fluctuating values shall be deemed to be speculation in investment within the meanings of this [sub-rule] [Substituted 'sub-regulation' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).].(2)No employee shall make or permit his wife or any member of his family to make an investment likely to embarrass or influence him in the discharge of his duties.(3)If any question arises whether a security or investment is of the nature referred to in [sub-rule] [Substituted 'sub-regulation' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).] (1) or [sub-rule] [Substituted 'sub-regulation' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).] (2), the decision of the [Board] [Substituted 'Corporation' by Notification No. G.S.R. 481(E), dated 7.7.2021 (w.e.f. 23.7.1960).] shall be final [under these [rules] [Notified in Gazette of India, Extraordinary, Part-II Section 3 Sub-Section (i) dated 13.12.1993 (G.S.R. No. 745(E))]].
