RULE 27: CEASURE OF INTEREST IN THE FAMILY PENSION FUNDS AND LAPSE OF POLICY OR ITS ASSIGNMENT TO SOMEONE OTHER THAN THE GOVERNOR


(1) If the interest of the subscriber in the family pension fund ceases in whole or part from any cause whatsoever, the Contributory Provident Fund Account of the subscriber shall forthwith be reimbursed by the amount of the refund if any, secured by the subscriber from the family pension fund which amount shall in default of reimbursement, be deducted from the subscriber’s emoluments by instalments or otherwise as may be directed by the Authority specified in the Fifth Schedule as competent to grant advances to such subscriber under Rule 5.

(2) If the policy lapses or is assigned otherwise than to the Governor of Maharashtra under Rule 23 charged or encumbered, the provisions of sub-rule (4) of Rule 23 applicable to a failure to assign or deliver a policy shall apply.

(3) If the Accounts Officer receives notice of—

(a) an assignment (other than an assignment to the Governor of Maharashtra under Rule 23); or

(b) a charge of encumbrance on; or

(c) an order of a Court restraining dealing with the policy or any amount realised thereon, the Accounts Officer shall not,—

(i) re-assign or make over the policy as provided in Rule 25; or

(ii) realise the amount assured by the policy, or re-assign or make over the policy, as provided in Rule 26 but shall forthwith refer the matter to Government through the Authority.



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