1506

THK GAZETTE OF INDIA, APRIL 6, 2002 (CHAITRA 16, 1924)

[PART III—SEC. 4

SYNDICATE BANK

HEAD OFFICE: MANIPAL 576 119

Date: £?-:0^:2002

No 3 099/0012/HO/PD/SWD dated. -V.rP.frQtL In exercise of the powers conferred by

Section 19, read with sub-section (2) of section 12 of the Banking

Companies

(Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), the Board of

Directors of Syndicate Bank in consultation with the Reserve Bank of India and with

the previous sanction of the Central Government, hereby makes the following

regulations further to amend the Syndicate Bank (Employees') Pension Regulations,

1995, namely:-

(1)

These regulations may be called Syndicate Bank (Employees') Pension

(Amendment) Regulations, 2002.

(2)

They shall come into force on the date of their publication in the

Official Gazette.

In the Syndicate Bank (Employees') Pension Regulations 1995, for regulation

28, the following regulation shall be substituted, namely:

"28. Superannuation Pension:

Superannuation Pension shall be granted to an employee who has retired on

his attaining the age of superannuation specified in the Service Regulations or

settlements:

Provided that, with effect from 1^st day of September, 2000 pension shall also

be granted to an employee who opts to retire before attaining the age of

superannuation, but after rendering service for a minimum period of 15 years

in terms of any Scheme that may be framed for such purpose by the Board

with the approval of the Government.

PART III—SEC. 41

THE GAZETTE OF INDIA, APRIL 6, 2002 (CHAITRA 16, 1924)

1507

Explanatory Memorandum

Indian Banks' Association, after taking a no-objection from the

Government of India, circulated a model Voluntary Retirement

Scheme (VRS) to all the Public Sector Banks on 31.8.2000. The

Scheme, inter alia, provided that employees who have rendered 15

years of service are eligible for the scheme. According to the existing

provisions in the pension regulations, it is only employees who opt for

voluntary retirement after completing 20 years' of qualifying service

and after giving notice of not less than 3 months in writing to the

appointing authority, are eligible for pensionary benefits, The

eligibility criteria and the benefits flowing out of the above provisions

in the Pension Regulations are distinct and separate from that

envisaged under VRS circulated on 31,8.2000.

There are no

provisions available in the Pension Regulations for extending

pensionary

benefits to a member employee who retires before

attaining the age of superannuation under such specific schemes, It has

been, therefore, decided to provide the benefit of pro-rata pensionary

benefits to members of Pension Fund who opt for voluntary retirement

under specified scheme(s).

It is, therefore, necessary that the amendment may be made effective

from 1^st September, 2000 so that all employees who are members of

the Pension Fund and have taken voluntary retirement, under the

scheme after completion of 15 years of service can draw the benefit of

pension.

It is certified that no employee/officer of the Syndicate Bank is likely

to be affected adversely by the Notification being given retrospective

effect.

[YMPAIJ

GENERAL MANAGER

Foot note: The Principal Regulations were notified in the Gazette of India

(Extraordinary) on 29.9.1995 and subsequent amendment(s) to the above

Syndicate Bank (Employees') Pension Regulations, 1995, were published in

the Gazette as per details given below:

Sr Mo.

Notification No.

Date

6173/0012/PD/SWD

28.8.1999

1508

THE GAZETTE OF INDIA, APRIL 6, 2002 (CHAITRA 16, 1924)

[PART III—SEC:. 4

EMPLOYEES' STATE INSURANCE CORPORATION

NEW DELHI dated t h e

No.

N-15/13/16/1/2001 -P&D

j m pursuance

of powers conferred by Section 46(2) of the Employees' State

insurance Act, 1948 (34 of 1948), read with Regulation 95-A

of the Employees' State Insurance(General)Regulations, 1950,

the Director General has fixed the

1st March, 2002

a^m

the date from which the medical benefits as laid down in the

said Regulation 95-A and the

Haryana

Employees' State Insurance(Medical Benefit) Rules, 19 55

shall be extended to the families of insured persons in the

following area in the State of

Haryana

namely

S r .

1 .

3 .

4 .

6 .

7 .

8 ,

9 .

10.

1 1 .

No. N#ne of Revenue Village

Kachrauli

Simla Mulana

Azizula Pur

Chandauli

Kutani

Paridpur

Raja Kheri

Binjhol

Sewah

Barauli

Babarpur

Had Bast No.

District

Panlpat

Panipat

Fanipat

Fani pat

Panipat

Fanipat

Panipat

(N.R.DHINWAR)

DIRECTOR.(r^D)

PWRT III—SEC. 4]

THE GAZETTE OF INDIA, APRIL 6, 2002 (CHAITRA 16, 1924)

1509

UNIT TRUST OF INDIA

MUMBAI

2002

UT/DBDM/ R-1% /SPD- 60/2001-2002

The amendments to the provisions of the Senior Citizens' Unit Scheme formulated

under section 21 of the Unit Trust of India Act, 1963 (52 of 1963) and the Senior

Citizens' Unit Plan formulated in relation to the scheme under section 19 (1) (8) (c) of

the said Act. approved by the Executive Committee in the meeting held on 25"'

FerjptKiry 2002>t6 come into effect from 4"¹ March 2002 are published herebelow.

S CHKTTERJI

DEPUTYXENERAL MANAGER

fSUSJNESS DEVELOPMENT AND MARKETING

1. T^e third and fourth sentences of-clause VIII titled "Withdrawal from membership'

in ihe provisions of Senior Citizens' Unit Scheme are amended as:

....Alter coinffl'euon of three years, a member may withdraw anytime and he will be

paid an amount equal to the subscription amount compounded at the rate of appreciation

declared under the plan during the year immediately preceding the year of withdrawal

or 8% whichever is lower, after making adjustments for the insurance premia paid, if

any. Further this rate may be reset every year at the beginning when the annual

appreciation is declared depending on the prevailing market conditions......

2. The third and fourth sentences of clause 4 titled Withdrawal from membership' in

the provisions of Senior Citizens' Unit Plan are amended as:

....After completion of three years, a member may withdraw anytime and he will be

paid an amount equal to the subscription amount compounded at the rate of appreciation

declared under the plan during the year immediately preceding the year of withdrawal

or 8% whichever is lower, after making adjustments for the insurance premia paid, it

a^y. Further this rate may he reset every year at the beginning when the annual

aj\p*ftt.'iaiion is declared depending on the prevailing market conditions

1510

THE GAZETTE OF INDIA, APRIL 6, 2<K)2 (CHAITRA 16, 1924)

[PART III—SEC. 4

UNIT TRUST OF INDIA

MUMBAI

UT/DBDM/R- 1% /SPD-3/2001-2002

2002

The amendments to the provisions/offer documents of the unit schemes formulated

under section 21 of the Unit Trust of India Act, 1963(52 of 1963) and plans formulated

under section 19(1) (8) (c) of the said Act in relation to the unit schemes made under

section 21 of the said Act, approved by the Executive Committee in the meeting held on

25'" February 2002 to come into effect not later than 1^st May 2002 are published

herebelow.

S CHATTERJI

fftm JTY GENERAL MANAGER

BUSINESS DEVELOPMENT AND MARKETING

The following amendments have been made to the provisions/offer documents of unit

schemes/plans

I - Children's Gift Growth Fund 1986(CGGF)

1) (10) Repurchase of units

(iin)Repurchase in respect of applications received by 2 p.m. (1ST) or such other time as

may he prescribed on a working day will be based on NAV applicable for that day. For

all applications received after 2.p.m.(lST), on any working day, repurchase will be based

on ihe NAV of the next working day. Accordingly, the applications received after 2.00

p.m. or such other time as may be prescribed on any working Friday and the applications

received on Satuidays and Sundays will be at NAV applicable for the following Monday.

If the following Monday happens to be a non-working day in Mumbai, the NAV

applicable tor the next working day in Mumbai will be applicable.

II - Monthly i.icoine Plan 1995 |MIP 95)

1) VII. Limitations on expenses.

Monthh average Net Asset Value' will be replaced with 'Daily average Net Asset Value'

wherever applicable.

2) XI. Repurchase of units

{t] .. On completion of the lock-in-period i.e. 30-06-96, the NAV based repurchase

prVe• filial 1 be declared once even' month commencing from 01/07/96. The Trust may

PART HI—She. 4]

THE GAZETTE OF INDIA, APRIL 6, 2002 (CHAITRA 16, 1924)

1511

switch In declaration of repurchase price on daily basis or at such intervals as may be

decided from time to time.

(2) Monthly Income option: UTI will offer to repurchase the units from the second year

of the Plan. Repurchase will be based on NAV...

(6) Cumulative Option

....Repurchase will be bused on NAV....

((>A) Repurchase in respect of applications received by 2 p.m. (1ST) or such other time as

may be prescribed on a working day will be based on NAV applicable for that day. For

all applications received alter 2.p.m.(1ST), on any working day, repurchase will be i-jsed

on the NAV of the next working day. Accordingly, the applications received after 2.00

p.m. or such other lime as may be prescribed on any working Friday and the applications

received on Saturdays and Sundays will be at NAV applicable for the following Monday.

If the following Monday happens to be a non-working day in Mumbai, the NAV

applicable for the next working day in Mumbai will be applicable.

3) XTV. Determination of Net Asset Value (NAV)

...On completion of lock-in-period i.e. _i 0/06/96, the NAV shall be declared once even

month commencing from 01/07/96 or al such inteivals as may be appiovcd by SEBT. The

Trust may switch to calculation of NAV on daily basis or at such intervals as may be

decided from time to time.

Ill - Monthly Income Plan 1997 (MIP 97)

1) IX. Repurchase of units

(I)..,. The repurchase price will be bused on the NAV of units .... From 01-05-2000 the

repurchase price will be announced at intervals of not more lliau one month. The Trust

may switch to declaration of repurchase price on daily basis or at such intervals as may

he decided from time to lime...

(2) Monthly Income option: ... Repurchase price will be based on NAV.... From 01-

05-2000 the repurchase price will be announced at intervals of not more than one month.

The Trust may switch to declaration of repurchase price on daiiv basis or at such intervals

as may be decided from time to time....

(7) Capital Growth Option

.... Repurchase price will be based on NAV....

(7A)Repurchase in respect of applications received by 2 p.m. (1ST) or such other time as

may be prescribed on a working day will be based on NAV applicable for that day. For

all applications received after 2.p.m.(1ST), on any working day, repurchase will be based

on the NAV of the nexl working day. Accordingly, the applications received after 2.00

p.m. or such other lime as may be prescribed on any working Friday and the applications

received on Saturdays and Sundays will be at NAV applicable for the following Monday.

If the following Monday happens to be a non-working day in Mumbai, the NAV

applicable for the next working day in Mumbai will be applicable.

2) IV. Determination of Net Asset Value (NAV)

... The NAVs shall be issued to the press for publication after six months from the

commencement of the plan i.c on 01.11.97 and on a monthly basis thereafter. The Trust

may switch to calculation of NAV on daily basis or at such intervals as may be decided

from time to time

1512

THE GAZETTE OF INDIA, APRIL 6, 2002 (CHAITRA 16, 1924)

[PART III—SEC. 4

3) VI. I imitations on expenses, VIII Development Reserve Fund (DRF) contribution

and IX. Staff Welfare Fund Contribution.

Monthly average net asset value/net assets will be replaced with 'Daily average Net Asset

Value/net assets' wherever applicable.

IV - Monthly Income Plan 1997 (II) [MIP 97 (II)]

1) IX. Repurchase of units

(1).... The repurchase price will be based on the NAV of units .... From 01-07-2000 the

repurchase price will be announced at intervals of not more than one month. The Trust

may switch to declaration of repurchase price on daily basis or at such intervals as may

be decided from time to time...

(2) Monthly Income option: ... Repurchase price will be based on NAV.... From 01-

07-2000 the repurchase price will be announced at intervals of not more than one month.

The Trust may switch to declaration of repurchase price on daily basis or at such intervals