LIC/GIC Draft Notification For Class II - ALLCGNEWS

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13 October 2010

Home LIC OFFICERS PAY HIKE LIC/GIC Draft Notification For Class II

LIC/GIC Draft Notification For Class II

[TO BE PUBLISHED IN THE GAZETTE OF INDIA
EXTRAORDINARY PART II – SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF FINANCIAL SERVICES)
NOTIFICATION
New Delhi, the October,2010

S.O. ………..(E).- In exercise of the powers conferred by section 17 A of the General Insurance Business
(Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby makes the following Scheme
further to amend the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of
Development Staff) Scheme, 1976, namely :-

1. (1) This Scheme may be called the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Development Staff) Amendment Scheme, 2010.

(2) Save as otherwise provided in this Scheme, this Scheme shall be deemed to have come into force on the 1st day of August, 2007.

(3) Save as otherwise provided in this Scheme, this Scheme shall be applicable to all employees who were whole time employees in Development Officer cadre of the Company as on or after the 1st day of August, 2007: Provided that the Development Officer, whose resignation had been accepted or whose service had been terminated during the period from the 1st day of August, 2007 till the date of publication of this Scheme in the Official Gazette, shall not be eligible for the arrears on account of the revision under this Scheme.

2. In the General Insurance (Rationalisation of Pay Scales and Other Conditions of Service of Development Staff) Scheme, 1976 (hereinafter referred to as “the said Scheme”), in paragraph 3, in clause (2), for the word and letter “Schedule G”, the word and letter “Schedule H” shall be substituted.

3. In the said Scheme, in paragraph 3,- (A) in clause (16), sub-clauses (d) and (e) shall be omitted with effect from the date of publication of this Notification;B) in clause (17), in sub-clause (c), in item (iv), after the words, figures and letters “performance year commencing on the 1st day of April, 2003”, the words, figures and letters “and ending on the 31st day of March, 2010” shall be deemed to have been inserted with effect from the 1st day of April, 2010; (C) in clause (17), in sub-clause (c), after item (iv), the following shall be deemed to have been inserted, with effect from the 1st day of April, 2010, namely:-

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