Amendment status not verified — confirm the current text below against the official source.
Punishment for acquiring share or interest in contract, etc. with the Corporation.— Any councillor who knowingly acquires, directly, or indirectly, any share or interest in any contract or employment with, by or on behalf of the Corporation not being a share or interest such as, under section 16 it is permissible for a councillor, to have, without being hereby disqualified for being a councillor and any Commissioner, 4[Director], Deputy Commissioner, municipal officer or servant who knowingly acquires directly or indirectly, any share or interest in any contract or employment with, by or on behalf of the Corporation, not being a share or interest such as, under clauses (h) and (k) of section 16, it is permissible for a councillor, to have without being to hereby disqualified for being a councillor, shall be deemed to have committed the offence made punishable by section 168 of the Indian Penal Code (XLV of 1860). 5[474A. Penalty for obstructing lawful exercise of powers under Chapter V-A.— Any person who obstructs the lawful exercise of any power conferred by or under Chapter V-A, shall on conviction, be punished with fine which may extend to 6[two thousand rupees, subject however, to a minimum fine which shall not be less than one thousand rupees.]]