Amendment status not verified — confirm the current text below against the official source.
(1) If any member or employee of a committee or of a joint committee, without the previous permission in writing of the Deputy Commissioner voluntarily renders himself interested in any conmct made within that committee, or if within one month of his becoming interested in any such contract he neitherresigns nor obtains the permission in writing of the Deputy commissioner for his remaining a member or employee of the committee inspite of his-interest in such contract he shall be deemed to have committed an offence under section 168 of the Indiari Penal:Code, 1860 : , , Provided that for the purposes of rhis sub-section aperson who has been elected or nominated but whose election or nomination has not been notified shall be deemed lo be a member. - - (2) No member, or employee of a committee or a joint committee shall by reason only of his being a shareholder in,-or a member of, any corporated or registered company, be held to be interested in any contract entered into between the said company and the commirtee or joint committee; but,no such person as aforesaid shall take ,pa? in any proceedings of the conxiittee or joint cornhittee relating to any such conmcts. , , Privil ligus and Liabilities