Section 20 in The Punjab School Education Board Employees (Conduct) Regulations, 1978
20. Investment lending and Borrowing.
(1)No employee shall speculate in any stock, share or other investment.Explanation. - Frequent purchase or sale or both of share, securities or other investments shall be deemed to be speculation within the meaning of this sub- regulation.(2)No employee shall make, or permit any member of his family or any person acting on his behalf to make any investment which is likely to embarrass or influence him in the discharge of his official duties.(3)If any question arises whether any transaction is of the nature referred to in sub-regulation (1) or (2) the decision of the Chairman thereon shall be final.(4)(i)No employee shall, save in the ordinary course of business with a bank or a public limited company either himself or through any member of his family or any other person acting on his behalf -(a)lend or borrow or deposit money, as a principal or an agent to, or from, or with, any person of firm or private limited company within the local limits of his authority or with whom he is likely to have official dealings, or otherwise place himself under any pecuniary obligation to such person or firm or private limited company; or(b)lend money to any person at interest or in a manner whereby return in money or in kind is charged or paid : Provided that an employee may give to, or accept from a relative or a personal friend, a purely temporary loan of a small amount free of interest, or operate a credit account with a bona fide tradesman or make an advance of pay to his private employee :Provided further that nothing in this sub-regulation shall apply in respect of any transaction entered into by a Board employee with the previous sanction of the Board.(ii)When a Board employee is appointed or transferred to a post of such nature as would involve him in the breach of any of the provisions of sub- regulation (2) or sub-regulation (4), he shall forthwith report the circumstances to the prescribed authority and shall thereafter act in accordance with such order as may be made by such authority.
