Date: 2020-09-16Category: Not ApplicableState: Tamil NaduCountry: India
TAMIL NADU MARITIME BOARD, CHENNAINIT TRUST - NOTIFICATION UNDER TAMIL NADU MARITIME BOARD - Direction Regarding Scale of Rates Levied by Tamil Nadu Maritime Board
**Executive Summary**
This document is a republication of Notification GSR No. 536 (E) from the Government of India, Ministry of Shipping, regarding amendments to the Chennai Port Trust Employees' (Conduct) Regulations, 1987. The amendments, which are approved by the Central Government, concern reporting requirements for employee transactions involving movable property. The amendment Regulations shall come into force on the date of publication of this notification in the Official Gazette.
**Key Points / Main Content**
* **General:**
* The document republishes Notification GSR No. 536 (E) regarding amendments to the Chennai Port Trust Employees' (Conduct) Regulations, 1987.
* The amendments are called the Chennai Port Trust Employees' (Conduct) (Amendment) Regulations, 2013.
* The effective date is the date of publication in the Official Gazette.
* **Regulation 15 Amendments:**
* Sub-regulation (3) is substituted: Employees must report movable property transactions (in their name or a family member's name) to the Chairman within one month if the value exceeds two months' basic pay.
* Previous sanction from the Chairman is required if the transaction is with someone the employee has official dealings with.
* In sub-regulation (3) in clause (a) under Explanation-l, "Rs. 10,000 or one sixth of the total annual emoluments received from the Board whichever less" is substituted by "two months' basic pay of an employee".
**Impact Analysis**
**Chennai Port Trust Employees**
* **Impact:** Affected by changes to the reporting requirements for transactions involving movable property. Stricter adherence to the new thresholds and reporting timelines will be required.
* **Action Required:** Employees must familiarize themselves with the new thresholds for reporting movable property transactions and ensure compliance with the updated regulations, including the requirement for prior sanction in dealings with related parties.
Key Entities Referenced
Major Port Trusts Act, 1963: Governs major ports in India; sections 124 and 132 are referenced.
Chennai Port Trust Employees' (Conduct) Regulations, 1987: Regulations governing the conduct of employees of the Chennai Port Trust.
Chennai Port Trust Employees' (Conduct) (Amendment) Regulations, 2013: Amendments to the Chennai Port Trust Employees’ Conduct Regulations.
Chennai Port Trust: The Chennai Port Trust, a major port trust organization, is subject to these regulations.