(7)If any Central Government officer takes up any commercial employment at any time before the expiry of two years from the date of his retirement without the prior permission of the Central Government or commits a breach of any condition subject to which permission to take up any commercial employment has been granted to him under this section, it shall be competent for the Central Government to declare by order in writing and for reasons to be recorded therein that he shall not be entitled to such part of the Government contributions made in relation to such officer as may be specified in the order and if he has received payment thereof, to direct that he shall refund to the Central Government an amount equivalent to such part of the Government contributions:Provided that no such order shall be made without giving the officer concerned an opportunity of showing cause against such declaration or direction:Provided further that in making any order under this sub- section, the Central Government shall have regard to the following factors, namely:—(i)the financial circumstances of the officer concerned;(ii)the nature of, and the emoluments from, the commercial employment taken up by the officer concerned;(iii)such other relevant factors as may be prescribed.
