Section 28
Restriction On Director, Administrator And Other Employee Of The fund
No director, administrator and other employee of the Fund shall not be allowed to take any contract from or to be a partner in any contract with the
Fund.
Explanation: The said officer and employee shall be deemed to be a partner in any contract:
(A) If his or her name is included as a partner in any contract with the Fund, on behalf of him or her or of a company in which he or she is a managing director or agent, or
(B) If he or she is a shareholder of any firm or private limited company which is a partner in any contract to be made with the Fund.
Fund.
Explanation: The said officer and employee shall be deemed to be a partner in any contract:
(A) If his or her name is included as a partner in any contract with the Fund, on behalf of him or her or of a company in which he or she is a managing director or agent, or
(B) If he or she is a shareholder of any firm or private limited company which is a partner in any contract to be made with the Fund.