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Penalty for acting as a member, Adhyaksha or Upadhyaksha when disqualified.- (1) Whoever acts as a member of a Grama Panchayat, Taluk Panchayat or Zilla Panchayat when he knows that under this Act or the rules made thereunder, he is not entitled to or has ceased to be entitled to hold office as such shall, on conviction , be punished with fine of one hundred rupees for every day on which he sits or votes as a member. (2) Whoever acts as the Adhyaksha or Upadhyaksha of a Grama Panchayat, Taluk Panchayat or Zilla Panchayat or exercises any of his functions when he knows that under this Act or the rules made thereunder, he is not entitled to or has ceased to be entitled to hold office as such, or to exercise such functions shall, on conviction, be punished with fine of two hundred rupees for every day on which he acts or functions as such. (3) Any person who having been the Adhyaksha or Upadhyaksha of a Grama Panchayat, Taluk Panchayat or Zilla Panchayat fails to hand over any document of, or any moneys or other properties vested in, or belonging to, the Grama Panchayat or Taluk Panchayat or Zilla Panchayat, as the case may be which are in or have come into his possession or control to his successor in office or other prescribed authority,- (a) in every case as soon as his term of office as such Adhyaksha or Upadhyaksha expires; and (b) in case of a person who was the Upadhyaksha on demand by the Adhyaksha, shall, on conviction, be punished with a fine which may extend to one thousand rupees.