Section 19(3) in The Punjab School Education Board Employees (Conduct) Regulations, 1978
(3)No employee shall, without the previous sanction of the Chairman except in the discharge of his official duties, take part in the registration, promotion or management of any bank or other company which is required to be registered under the Companies Act, 1955 (1 of 1955) or any other law for the time being in force or any co-operative society for commercial purposes :Provided that an employee may take part in the registration, promotion or management of a co-operative society substantially for the benefit of employees of the Board registered under the Co-operative Societies Act, 1961, or any other law for the time being in force, or of a literary, scientific or charitable society, registered under the Societies Registration Act, 1860 (21 of 1860) or any corresponding law in force.
