Section 4 in The Rajasthan Financial Corporation (Staff) Regulations, 1958
4. [Circulation of Amendments] [Substituted by Amendment Notification dated 15-11-1961, Rajasthan Gazette, Part IV-C, dated 14-12-1961].
(a)Any new Regulation or alteration in an existing Regulation shall be issued in the form of a Circular for circulation among the staff :Provided that no new Regulation or an alteration in an existing Regulation shall operate to reduce the scale of pay of an employee on which he is entitled to draw pay in a Substantive capacity on the day the new Regulation or alteration comes into force.(b)Power to interpret and implement Regulations. - The power, to interpret the Regulations vests in the Managing Director who is also hereby empowered to issue such administrative instructions as may be necessary to give effect to and carry out the purpose of, the provisions of these Regulations provided that it as a result of any decision of the Managing Director as regard the construction of any Regulation or Regulations an employee feels aggrieved he shall have a right to appeal against such decision of the Managing Director to the Board whose decision shall be final and binding on all concerned.
