Insurance Regulatory and Development Authority (Salary and Allowances Payable to, and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2000
In exercise of the powers conferred by section 24 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Central Government hereby makes the following rules regulating the salary and allowances payable to, and other terms and conditions of service of Chairperson and members, namely--
1. Short title and commencement
(1) These rules may be called the Insurance Regulatory and Development Authority (Salary and Allowances Payable to, and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2000.
(2) They shall come into force on the date of their publication in the Official Gazette.
In these rules, unless the context otherwise requires,--
(a) "Act" means the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);
(b) Words and expressions used herein but not defined but defined in the Act, shall have the meanings respectively assigned to them in the Act.
(1) The pay of a Chairperson shall be Rupees twenty-six thousand per month (fixed) as admissible to a Secretary to the Government of India.
(2) The pay of the whole-time member shall be in the scale of pay of Rs. 22400-525-24500.
(3) The pay of the Chairperson and whole-time member shall be fixed in accordance with the orders of the Central Government:
PROVIDED that in case a person appointed as the Chairperson or a whole-time member is in receipt of any pension, the pay of such person shall be reduced by the gross amount of pension drawn by him.
4. Provident Fund, Pension and Gratuity
(1) The Chairperson and whole-time members shall be governed by the provisions of the Contributory Provident Fund Rules, 1962 and no option to subscribe under General Provident Fund (Central Services) Rules, 1960 shall be available.
(2) The additional pension and gratuity shall not be admissible for service rendered in the Authority.
5. Dearness Allowances and City Compensatory Allowance
The Chairperson and whole-time members shall receive dearness allowance and city compensatory allowance and other allowances at the rate admissible to a Group `A' Officer of the Central Government drawing an equivalent pay.
6. Travel Allowance
(1) The Chairperson and whole-time members while on tour within India or on transfer (including the journey undertaken by self and family) to join the Authority or on the expiry of term with the Authority to proceed to his home town with family, shall be entitled to the journey allowance, daily allowance and transportation of personal effects at the same scales and rates as are applicable to a Group `A' Officer of the Central Government drawing an equivalent pay.
(2) The foreign tours to be undertaken by the Chaperson or whole-time members shall be undertaken only in accordance with orders issued by the Central Government as are applicable to Group `A' Officer of the Central Government drawing an equivalent pay:
PROVIDED that the foreign tours of the Chairperson or whole-time members for official purpose shall be approved by the Authority.
(1) The Chairperson or any whole-time member shall not be eligible to allotment of any house for their residence from the general pool of accommodaton or any other accommodation admissible to officers of Central Government.
(2) The Chairperson and the whole-time members shall have the option of claiming of house rent allowance for the residence located in Delhi or in one of the satellite towns surrounding the National Capital Territory of Delhi as admissible to a Central Government Officer of equivalent rank.
(3) In case, the Chairperson or whole-time members opt for leased accommodation in one of the satellite towns surrounding the National Capital Territory of Delhi, the Chairperson and whole-time members shall be entitled to rented unfurnished accommodation with built-up area measuring around 300 sqm. for members and 350 sqm. for the Chairperson with suitable open land area appurtenant as permissible under the regulations of the concerned municipal bodies.
8. Sumptuary Allowance
The Chairperson and whole-time members shall not be entitled to Sumptuary Allowance.
9. Medical Facilities
The Chairperson and whole-time members shall be entitled to medical treatment and facility as provided in the Central Government Health Service Scheme for retired Government servants:
PROVIDED that at places where the Central Government Health Services Scheme is not applicable, the Chairperson and whole-time members, who are not Government servants shall be entitled to the facilities as provided in the Central Service (Medical Attendance) Rules, 1944.
The Authority shall not purchase any passenger vehicle for the use of the Chairperson and members:
PROVIDED that the Chairperson and whole-time members shall be eligible for fixed reimbursement of an amount not less than Rupees three thousand and an amount not exceeding Rupees five thousand per month including salary of a driver, if any, employed by such Chairperson or whole-time members for the usage and maintenance of his personal car for transportation between residence and office.
(1) A Chairperson or whole-time member shall be entitled to thirty days of earned leave for every year of service.
(2) The payment of leave salary during the leave shall be governed under the provisions of rule 40 of the Central Civil Services (Leave) Rules, 1972.
(3) The Chairperson or whole-time member shall be entitled to encashment of fifty per cent of earned leave to his credit at any time.
12. Leave sanctioning Authority
(1) The Chairperson shall be the authority competent to sanction leave to a whole-time member.
(2) The President of India shall be the authority competent to sanction leave to the Chairperson.
13. Terms and conditions of service of part-time members
(1) A part-time member shall hold office for a period, not exceeding five years from the date on which he enters upon his office and shall be eligible for reappointment.
(2) Notwithstanding anything contained in sub-rule (1), a part-time member may:--
(a) elinquish his office by giving in writing to the Central Government notice of not less than three months; or
(b) be removed from his office in accordance with the provisions of section 6 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999).
(3) No part-time members shall be removed under clause (d) or clause (e) of sub-rule (1) of section 6 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) unless he has been given a reasonable opportunity of being heard in the matter.
(4) A part-time member appointed to fill up a casual vacancy, shall hold office for the remainder period of the term of the part-time member in whose place he is appointed.
(5) A part-time member shall be entitled to receive such allowance by way of a fee of Rupees one thousand only for each meeting of the Authority attended by him.
(6) A part-time member, whole on tour (including the journey undertaken to attend a meeting of the Authority) shall also be entitled to travelling allowance and daily allowance at the same rates and are applicable to him if he is in Government Service or to an Additional Secretary to the Government of India if he is not in Government Service.
14. Other conditions of service
Other conditions of service of a Chairperson and a member with respect to which no express provision has been made in these rules shall be such as are admissible to a Group `A' Officer of the Central Government drawing an equivalent pay including Central Government Civil Services (Conduct) Rules, 1964.
If any question arises relating to the interpretation of these rules, it shall be referred to the Central Government.
Related Insurance Acts
- Insurance Act, 1938
- Life Insurance Corporation Act, 1956
- Insurance Regulatory and Development Authority Act, 1999
- Marine Insurance Act, 1963
- General Insurance Act, 1972
- Motor Vehicles Act, 1988