Executive Summary:
This notification, dated July 1, 2015, approves the New Mangalore Port Trust Employees House Building Allowance Special Family Benefit Fund Amendment Regulations, 2015. These amendments, made by the Board of Trustees, modify the 1996 regulations concerning employee house building advances and special family benefits. The amendments came into force on the date of publication in the Official Gazette.
Key Points / Main Content:
Amendment Regulations:
* These regulations are called the New Mangalore Port Trust Employees House Building Advance Special Family Benefit Fund Amendment Regulations, 2015.
* They came into force on the date of their publication in the Official Gazette.
Regulation 6 Amendment:
* Subregulation (a) is substituted with revised non-refundable subscription amounts based on the House Building Advance (HBA) sanctioned:
* Employees sanctioned with HBA up to Rs. 2.5 lakhs: Subscription of Rs. 75.00 per month.
* Employees sanctioned with HBA above Rs. 2.5 lakhs and up to Rs. 4.00 lakhs: Subscription of Rs. 120.00 per month.
* Employees sanctioned with HBA above Rs. 4.00 lakhs and up to Rs. 6.00 lakhs: Subscription of Rs. 150.00 per month.
* Employees sanctioned with HBA above Rs. 6.00 lakhs: Subscription of Rs. 175.00 per month.
* In subregulation (b), "Rs.7.50" is replaced with "Rs 15.00".
Impact Analysis:
New Mangalore Port Trust Employees:
* Impact: Revised subscription rates for the House Building Advance Special Family Benefit Fund based on the amount of HBA sanctioned.
* Action Required: Ensure correct monthly subscription is paid based on their sanctioned HBA amount, effective from the date of publication in the Official Gazette.
New Mangalore Port Trust Board of Trustees:
* Impact: Responsible for implementing and administering the amended regulations.
* Action Required: Enforce the new subscription rates and update relevant documentation and processes.
Key Entities Referenced
Major Port Trusts Act, 1963: A law enacted by the Parliament of India, governing the major port trusts in India.
New Mangalore Port Trust: A port trust located in the city of Mangalore, Karnataka, India.
New Mangalore Port Trust Employees House Building Advance Special Family Benefit Fund Regulations, 1996: Regulations related to house building advance and special family benefits for the employees of the New Mangalore Port Trust.
New Mangalore Port Trust Employees House Building Allowance Special Family Benefit Fund Amendment Regulations, 2015: Amendment regulations to the existing house building allowance and special family benefit fund regulations for the employees of the New Mangalore Port Trust.
Ministry of Shipping: The Indian government ministry responsible for policies and regulations related to shipping and ports.
Section 124 of the Major Port Trusts Act, 1963: A specific section within the Major Port Trusts Act, 1963, that grants certain powers.
Section 132 of the Major Port Trusts Act, 1963: A specific section within the Major Port Trusts Act, 1963, that grants certain powers.
Barun Mitra: Joint Secretary in the Ministry of Shipping, as indicated by 'Jt. Secy.'
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MINISTRY OF SHIPPING
(Ports Wing)
NOTIFICATION
New Delhi, the 27th June 2015
G.S.R. 522(E).—In exercise of the powers conferred by sub-section (1) of Section 124 read with sub-section
(1) of Section 132 of the Major Port Trusts Act, 1963 (38 of 1963), the Central Government hereby approves the New
Mangalore Port Trust Employees (House Building Allowance) Special Family Benefit Fund Amendment Regulations,
2015 made by the Board of Trustees for the Port of New Mangalore and set out in the Schedule annexed to this
notification.
2. The said Amendment Regulations shall come into force on the date of publication of this notification in the
Official Gazette.
SCHEDULE
New Mangalore Port Trust Employees (House Building Advance) Special Family Benefit Fund Amendment
Regulations, 2015
In exercise of the powers conferred by Section 28 of Major Port Trusts Act, 1963 (38 of 1963), the Board of Trustees of
New Mangalore Port Trust, hereby makes the following Regulations further to amend the New Mangalore Port Trust
Employees (House Building Advance) Special Family Benefit Fund Regulations, 1996.
1. Short Title and commencement
(i) These Regulations may be called New Mangalore Port Trust Employees (House Building
Advance) Special Family Benefit Fund Amendment Regulations, 2015.
(ii) They shall come into force on the date of their publication in the Official Gazette.
2. In Regulation 6:-
(i) Sub-regulation (a) shall be substituted as under:-
(a) Every Employee to whom the Regulation applies shall make a non-refundable subscription as under and
such subscription should continue to be paid by him/her till the date of his/her retirement on superannuation
or otherwise or till repayment of the House Building Advance together with interest accrued thereon,
whichever is earlier:-
Employees sanctioned with HBA up to Rs. 75.00 per month
Rs.2.5 lakhs.
Employees sanctioned with HBA above Rs.120.00 per month
Rs.2.5 lakhs and up to Rs. 4.00 lakhs.
Employees sanctioned with HBA above Rs. 150.00 per month
Rs.4.00 lakhs and up to Rs. 6.00 lakhs.
Employees sanctioned with HBA above Rs.175.00 per month
Rs.6.00 lakhs.
(ii) In sub-regulation (b), the words and figures “Rs.7.50/- (Rupees Seven and Paise fifty only)” shall be
substituted by the words and figures, namely, “`Rs 15.00/- (Rupees fifteen only)”
[F. No. PR-12016/8/2012-PE-I]
BARUN MITRA, Jt. Secy.
Foot Note: Principal Regulations were published in the Gazette of India Under GSR No. 361(E) dated 13.08.1996
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.