Section 45(3) in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
(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.
