MANU/FNSV/0047/2016

Ministry : Ministry of Finance

Department/Board : Financial Services

Notification No. : SO233(E)

Date of Notification : 23.01.2016

Date of Publication : 23.01.2016

Notification/ Circulars Referred : S.O. 2470 (E), dated 08.10.2010 MANU/FNSV/0050/2010

Subject: Finance

Citing Reference:
S.O. 2470 (E), dated 08.10.2010 MANU/FNSV/0050/2010  Referred

General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2016

S.O.233(E).--In exercise of the powers conferred by section 17A of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby frames the following Scheme further to amend the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Scheme, 1975, namely:-

1.       (1) This Scheme may be called the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2016.

(2) This Scheme shall be deemed to have come into force on the 1st day of April, 2010.

(3) This Scheme shall be applicable to those officers, who joined the service of the Corporation or Company on or after the 1st day of April, 2010, but shall not apply to the officers whose resignations have been accepted or whose service have been terminated before the date of publication of this Scheme.

2. In the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Scheme, 1975 (hereinafter referred to as "the said Scheme"), in paragraph 9, in the third proviso, for the words, figures and letters "1st day of January, 2004", the words, figures and letters "1st day of April, 2010" shall be substituted.

3. In the said Scheme, in paragraph 9A, for the words, figures and letters "1st day of January, 2004", the words, figures and letters "1st day of April, 2010" shall be substituted.