Regulation 67 - Lending and Borrowings - Securities And Exchange Board Of India (Employees' Service) Regulations, 2001

Lending and Borrowings 67. No employee shall in his individual capacity - (i) borrow or permit any member of his dependent family members to borrow or otherwise place himself or a member of his dependent family members under a pecuniary obligation to a broker or a money lender or a subordinate employee of the Board or any person, association of persons, firm, company or institution, whether incorporated or not, having dealings with the Board; (ii) incur debts at a race meeting; (iii) lend money in private capacity to a constituent of the Board or have personal dealings with such constituent in the purchase or sale of bills of exchange, Government paper or any other securities; and (iv) guarantee in his private capacity the pecuniary obligations of another person or agree to indemnify in such capacity another person from loss except with the previous permission of the competent authority; Provided further that an employee may obtain a loan from a cooperative credit society of which he is a member or stand as surety in respect of a loan taken by another member from a cooperative credit society of which he is a member.