Amendment status not verified — confirm the current text below against the official source.
(1) If a Councillor has any pecuniary interest, direct indirect, in any contract or proposed contract with or without employment under, or other matter, concerning the Municipality and is present at a such contract or of a committee thereof at where consideration, he shall, as soon as practicable at the contract or employment or other matter, a, shall not take part in the consideration or discuss. of, or vote on, any question with respect to such contract or employment or other matter: Provided that the provisions of this section shall not apply to a Councillor has interest as tax-payer or inhabitant of the municipal area or consumer of water or having an interest any matter relating to any civic service to the public. (2) For the purposes of this section, a Councillor shall be deemed to have an indirect pecuniary interesting a contract or employment or other matter if he or his nominee is a member of any company or other body with which the contract is made or is proposed to be made or which has a direct pecuniary interest in the employment or other matter under consideration, or if he is a partner in a firm with which , or is in employment under a person with whom, the contract is made or is proposed to be made, or if such firm or person has a direct pecuniary interest in the employment or other matter under consideration: Provided that: i. the provisions of this sub-section shall not apply to a councillor who is a member of or is in employment under, any public institution or organization under any law for the time being in force, and ii. a Councillor shall not, by reason of his membership of a company or other body' be treated as having any pecuniary interest in such company or other body if he has no beneficial interest in any share or stock of such Presiding Officer of a meeting of Municipality. Maintenance of order at a meeting of Municipality and withdrawal and suspension of Councillors. Councillor having Pecuniary Interest in any contract etc. with Municipality. company or other body. (3) In the case of a Councillor who is married and lives with his spouse, the interest of one shall be deemed, for the purposes of this section' to be the interest of the other. Explanation -For the purposes of this section and section -56, “company" sha1l mean anybody corporate, and shall include a firm or other association of individuals.