Section 39 in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
39. Investment .-(1) No officer and other employee shall, without previous approval of the Authority, make or permit any member of his family to make any investment in any Indian insurance company or its subsidiaries for a total amount exceeding twenty thousand rupees.
(2)Any officer and other employee who buy or sells property worth rupees one lakh or above shall make a declaration to that effect to the Authority.Explanation .-For the purpose of this regulation, the word "family" includes any relative ordinarily residing with or dependent on an officer and other employee.
