IREC Rule No.930: Reduction In Subscription To The Fund

930.  Reduction In Subscription To The Fund:-

(1)   A subscriber who desired to substitute payment under sub-rule (a) of Rule 927 may reduce his subscription to the fund accordingly;

Provided that the subscriber shall;

(a)  Intimate, if he is a gazetted railway servant, to the Accounts Officer; otherwise to his bill preparing authority; by letter, the fact of, and reason for, the reduction;

(b)  Send to the Accounts Officer, within such period as the Accounts Officer may require, receipts or certified copies of receipts in order to satisfy the Accounts Officer that the amount by which the subscription has been reduced was duly applied for the purposes specified in sub-rule (a) of Rule 927.

(2)  A subscriber who desire to withdraw any amount under sub-rule (b) of Rule 927 shall, through his bill preparing officer

(a)  Intimate the reason for the withdrawal to the Accounts Officer;-

(b)  Make arrangements with the Accounts Officer for the withdrawal; and

(c)  Send to the Accounts Officer, within such period as the Accounts Officer may require receipts or certified copies of receipts in order to satisfy the Accounts Officer that the amount withdrawn was duly applied for the purposes specified in sub-rule (b) of Rule 927.

(3)  The Accounts Officer shall order the recovery of any amount by which subscriptions have been reduced, or of any amount withdrawn, in respect of which he has not been satisfied in the manner required by proviso (b) of sub-rule (1) and clause (c) of sub-rule (2), with interest thereon at the rate laid down in Rule 920 from the emoluments of the subscriber and place it to the credit of the subscriber in the fund.