Buying and selling house and other valuable property

24. Buying and selling house and other valuable property.—Save in the case of a transaction conducted in good faith with a regular dealer or permitted under rule 26, a Government servant who intends to transact any purchase, sale or disposal by other means of movable or immovable property exceeding in value [Twenty five thousand rupees]' with any person residing, possessing immovable property or carrying on business, within the local limits of the official authority of such Government servant, shall declare his intention to Government. The declaration shall state fully the circumstances, the price offered or demanded and, in the case of disposal otherwise than by sale, the method of disposal, and the Government servant shall thereafter act in accordance with such orders as may be passed by Government: - Provided that a Government servant who is about to quit the station, district or local limits of his official authority may, without reference to any authority, dispose of any of his movable property by circulating lists thereof among the public generally or by causing it to be sold by public auction. Note—I. Sanction of competent authority will be necessary also in the case of officers who have no defined local area for the exercise of their powers or to whom there is no delegation of statutory powers. Note.-2. The declaration of the intention to transact any purchase, sale or disposal by other means of immovable property by a Government servant shall be in the Form prescribed in Appendix–B.