General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2017
S.O. 370(E).-- In exercise of the powers conferred by section 17 A of the General Insurance Business (Nationalization) Act, 1972 (57 of 1972), the Central Government hereby frames the following Scheme further to amend the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Scheme, 1975, namely:--
1. (1) This Scheme may be called the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2017.
(2) Save as otherwise provided hereinafter, the provisions of this Scheme shall be deemed to have come into force on the 1st day of January, 2016.
2. In the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Scheme, 1975,--
(i) in paragraph 3, in clauses (na) and (nb), for the words "Twelfth Schedule",at both the places wherever they occur, the words "Fifteenth Schedule" shall, respectively, be substituted;
(ii) in paragraph 6B, after the third proviso, the following proviso shall be inserted, namely,-
"Provided also that with effect from the 1st day of January, 2016, the pay of the Chairman-cum-Managing Director shall be fixed in the manner specified in the Fifteenth Schedule.";
(iii) in paragraph 9, in the Explanation, in clause (iii), after sub-clause (aa), the following sub-clause shall be inserted, namely:--
"(ab) in the case of Chairman-cum-Managing Director of the Corporation or the Chairman-cum-Managing Director of the Company, as the case may be, for the period commencing on the 1st day of January, 2016, as per the Fifteenth Schedule.";
(iv) after the Fourteenth Schedule, the following Schedule shall be inserted, namely:--
" FIFTEENTH SCHEDULE
(See paragraphs 3(na), (nb), 6B and 9)
Chairman-cum-Managing Director
I. Level in the pay matrix .--
Level 16 in pay matrix under the Central Civil Service (Revised Pay) Rules, 2016 (Rs. 2,05,400 - 2,11,600 -- 2,17,900 -- 2,24,400)
II. Increments in pay.-
The increments in pay shall be as per the pay index specified in the pay matrix.
III. Date of next increment. -
(1) The Chairman-cum-Managing Director shall be entitled to only one annual increment either on the 1st day of January or the 1st day of the July depending on the date of his appointment as specified under sub-paragraph (2).
(2) The increment in respect of the Chairman-cum-Managing Director appointed during the period between the 2nd day of January and...
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