According to the latest order from the Ministry of Personnel, the Center has asked officers of the IAS, IPS and IFS to inform it if the total volume of transactions in stocks, shares or other investments exceeds their salary by six-month basis in a calendar year.
The directive includes them in addition to similar information they are required to share under AIS section 16(4) of the Indian Services (Conduct) Rules 1968.
These rules apply to three Indian services – members of the Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS).
To enable the administration to investigate transactions involving stocks, shares or other investments. It has been decided only if the total volume of transactions in stocks, shares or other investments. In compliance, instructions may be forwarded annually to the prescribed body on the attached form.
Referring to Article 14(1) of the Rules of Conduct, which states that “no member of the service shall speculate in stocks or other investments, except that this provision does not apply to occasional investments made by stockbrokers or other duly authorized persons.
Rule further explains that the regular buying or selling of stocks, securities, or other investments is considered speculative under this subrule.
The Department, in an order dated March 20, further stated that since stocks, securities, debentures etc are considered chattels under Interpretation I of Section 16 of the AIS Rules of Conduct 1968, if redeemed by individuals for more than two months.
Basic pay for service members is provided under Rule 16(4) of the ibid Rules” if the ‘intimidation of designated authorities remains necessary’.
“Each service member is required to notify the government about their each transaction whose value exceeds the service member’s payment of two months’ basic income within one month of the completion of such transaction. transaction”, says Rule 16(4).
