Section 14 of Gujarat Panchayat Services Rules, 1964

(1)No panchayat servant s-hall speculate in any investment.

Explanation -The habitual purchase or sale of securities, a

notoriously, fluctuating value shall be deemed to be speculation in

investment within the meaning of this sub-rule.
(2) No panchayat servant shall make or permit his wife or any
member of his family to make any investment likely to embarass or
influence him in the discharge of his official duties,
(3) If any question arises whether a security or investment is of the
nature referred to in sub-rule (1) or sub-rule (2), the decision of
the relevant district panchayat thereon shall be final.
(4) No panchayat servant shall, except with the previous sanction
of the relevant district panchayat, lend money to any person
possessing land or valuable property within the local limits of his
authority or at interest to any person :
Provided that a pancliayat servant may make an advance of pay to
a private servant or give a loan of small amount free of interest to
a personal friend or relative even if such person possesses land
within the local limits of his authority.
(5) No panchayat servant shall, save in the ordinary course of
business with a bank or a firm of standing borrow money from, or
otherwise place himself under pecuniary obligation to, any person
within the local limits of his authority or any other person with
whom he is likely to have official dealings, nor shall he permit any
member of his family, except with the previous sanction of the
relevent district panchayat, to en;er into any such transaction:
Provided that a panchayat servant may accept a purely temporary
loan of a small amount, free of interest, from a personal friend or
relative or operate a credit account with a bonafide tradesman.
(6) When a panchayat servant is appointed or transferred to a post
of such a nature as to involve him, in the breach of any of the
provisions of sub-rule (5), he shall forthwith report the
circumstances to the relevant district panchayat and shall
thereafie{ act in accordance with such orders as may be passed by
such district panchayat :
Provided that this rule, in so far as it relates to the lending to or
borrowing by a panchayat servant from a Co-operative Society
registered under the Gujarat Co-operative Societies Act, 1961 (Guj.
X of 1962) shall be subject to any general or special restriction or
relaxation made or permitted by the District Panchayat