LIC of India (Employees) Pension (Amendment) Rules, 2023
LIC of India (Employees) Pension (Amendment) Rules, 2023
G.S.R. 554(E).— In exercise of the powers conferred by section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance Corporation of India (Employees) Pension Rules, 1995, namely:-
(1) Short title and commencement.—
(1) These rules may be called the Life Insurance Corporation of India (Employees) Pension (Amendment) Rules, 2023.
(2) They shall come into force from the date of their publication in the Official Gazette.
(2) In the Life Insurance Corporation of India (Employees) Pension Rules, 1995, in rule 50, –
(i) In sub-rules (1) to (7), for the word ‘Board’ wherever they occur, the words ‘Competent Authority’ shall be substituted;
(ii) In sub-rule (1) and sub-rule (6), for the words ‘two years’, the words ‘one year’ shall be substituted.
Note: The Principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub section (i) vide G.S.R. No 525(E) dated 28th June, 1995 and lastly amended vide G.S.R.No.482(E) dated 7th July, 2021.
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