Securities And Exchange Board Of India - Subsection
Section 62(1) in Securities and Exchange Board of India (Employees' Service) Regulations, 2001
(1)An employee shall not solicit or accept any gift or permit any member of his family or any person acting in his behalf to accept any gift from any person with whom the employee is likely to have official dealings either directly or indirectly or from any subordinate employee. Trivial gifts like small packets of sweets, diaries, calendars on the occasion of Diwali and New Year may, however, be exempted.Explanation. - The expression "gift" shall include free transport, boarding, lodging or other service or any other pecuniary advantage when provided by any person other than a near relative or a personal friend having no official dealings with the employee or with the Board.Note 1: A casual meal, lift or other social hospitality shall not be deemed to be a gift.Note 2: An employee shall avoid acceptance of lavish or frequent hospitality from any individual or concern having official dealings with the employee or with the Board.
