REGD. NO. D. L.-3 3004/99

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 60]

NEW DELHI, THURSDAY, MARCH 1,2001/PHALGUNA 10,1922

642

1/2001

(1)

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THE GAZETTE OF INDIA : EXTRAORDINARY

fPART I—Sec, 11

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 1st March, 2001

F.No. 18-3/2000-NS.IL- The Government of India hereby makes trie

following amendment in the Deposit Scheme for

Retiring Government

Employees, 1989 as notified in the Ministry of Finance (Department of Economic

Affairs) notification number 2/14/89-NS.II, dated the 7^th June, 1989, namely: -

1.

In the said Scheme, In paragraph 6, relating to Interest on Deposits, -

(a)

in sub-paragraph (a), after the second proviso, the followinq

proviso shall be inserted, namely :-

"Provided also that the deposits made in accordance with this

Scheme on or after the 1^st day of March, 2001 shall carry interest at the

rate of 8,5 per cent, per annum.";

(b)

in sub-paragraph (b), after the second proviso, the following

proviso shall be inserted, namely :-

"Provided also that where the account is continued on expiry of

three years, whether prior to the 1^st day of March, 2001 or at any time

thereafter, the balance amount in such account shall earn interest at the

rate of 8.5 per cent, per annum on and from the 1^st day of March, 2001 or

the date of expiry of three years, whichever is later.";

(c)

in sub-paragraph (d), after the second proviso, the following

proviso shall be inserted, namely :-

"Provided also that where the deposits in an account earn interest

at the rate of 8.5 per cent, per annum in terms of the third proviso to sub-

paragraph (a) or third proviso to sub-paragraph (b), the interest on the

undrawn interest shall be at the rate of 8.5 per cent, per annum on and

from the 1^st day of March, 2001 or the date of expiry of three years,

whichever is later."

2. This amendment shall take effect on and from the 1^st day of March, 2001.

SURYA MAITI, Under Secy.

Note: Prior to this amendment, the Deposit Scheme notified on the 7^th June,

1989 was amended vide notifications No. 2/14/89-NS.II, dated the 10^th August,

1989, No. 2/14/89-NS.II, dated the 12^th October, 1989, No. 2/14/89-NS.II, dated

the 9^l March, 1990, No, 15/1/93-NS.II, dated the 15^th March, 1993 and No

2/31/98-NS.II, dated the 1^st January, 1999.

3

NOTIFICATION

New Delhi, the 1st March, 2001

F.No. 18-3/2000-NS.IL- The Government of India hereby makes the

following amendment in the Deposit Scheme for Retiring Employees of Public

Sector Companies, 1991 as notified in the Ministry of Finance (Department of

Economic Affairs) notification number 2/19/89-NS.II, dated the 12^th December,

1990, namely:-

1.

In the said Scheme, in paragraph 6, relating to Interest on Deposits, -

(a)

in sub-paragraph (a), after the second proviso, the following

proviso shall be inserted, namely :-

"Provided also that the deposits made in accordance with t h i s -

Scheme on or after the 1^st day of March, 2001 shall carry interest at the

rate of 8.5 per cent, per annum.";

(b)

in sub-paragraph (b), after the second proviso, the following

proviso shall be inserted, namely :-

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THE GAZETTE OF INDIA : EXTRAORDINARY

[PART I—SEC. 11

"Provided also that where the account is continued on expiry of

three years, whether prior to the 1^st day of March, 2001 or at any time

thereafter, the balance amount in such account shall earn interest at the

rate of 8.5 per cent, per annum on and from the date of expiry of three

years.";

(c)

In sub-paragraph (d), after the second proviso, the following

proviso shall be inserted, namely :-

"Provided also that where the deposits in 3n account earn interest

at the rate of 8.5 per cent, per annum in terms of the third proviso to sub-

paragraph (a) or third proviso to sub-paragraph (b), the interest on the

undrawn interest shall be at the rate of 8.5 per cent, per annum on and

from the 1^st day of March, 2001 or the date of expiry of three years,

whichever is later."

2.

This amendment shall take effect on and from the 1^st day of March, 2001.

SURYA MATTI, Under Secy.

Note: Prior to this amendment, the Deposit Scheme notified on the 12*

December, 1990 was amended vide notification No. 15/10/91-NS.II, dated the

22^nd April, 1991, No. 2/19/89-NS.II, dated the 23^rd April, 1991, No. 15/1/93-

NS.II, dated the 15^th March, 1993 and No. 2/31/98-NS.II, dated the 1^st January,

1999.