IRDA Regulation for
Salary and Allowances Payable to,
and other Terms and Conditions of
Service of
Chairperson and other Members
1.
Short title and
commencement
2.
Definitions
3.
Pay
4.
Provident
Fund, Pension and Gratuity
5.
Dearness Allowances and City Compensatory Allowance
6.
Travel Allowance
7.
Accommodation
8.
Sumptuary Allowance
9.
Medical Facilities
10.
Transport
11.
Leave
12.
Leave sanctioning
Authority
13.
Terms and conditions of service of part-time members
14.
Other conditions
of service
15.
Interpretation
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.
2.
Definitions
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.
3.
Pay
(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.
7.
Accommodation
(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.
10.
Transport
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.
11.
Leave
(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.
15.
Interpretation
If
any question arises relating to the interpretation of these rules,
it shall be referred to the Central Government.
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