Amendment status not verified — confirm the current text below against the official source.
A member or President of Municipality who, otherwise than with the permission in writing of the Prescribed Authority knowingly acquires, or continues to have directly or indirectly, by himself or his partner, any [Share or interest, whether pecuniary or of any other nature]1 in any contract or employment, with, by, or in behalf of the Municipality, shall be deemed to have committed an offence under Section 168 of the Indian Penal Code : Provided that a person shall not be deemed for the purposes of sub-section (1) to acquire, or continue to have, any [share or interest, whether pecuniary or of any other nature]1 in a contract or employment by reason only of his,- (a) having a share or interest, whether pecuniary or of any other nature in any lease, sale or purchase of land or buildings, or in any agreement for the same, provided that such share or interest, whether pecuniary or of any other nature was acquired before he became a member, or (b) having a share in a joint stock company which shall contract with, or be employed by, or on behalf of, the Municipality, or (c) having a share or interest, whether pecuniary or of any other nature in a newspaper in which an advertisement relating to the affairs of the Municipality is inserted, or (d) holding a debenture or otherwise being interested in a loan raised by, or on behalf of, the Municipality, or (e) being retained by the Municipality as a legal practitioner, or (f) having a share or interest, whether pecuniary or of any other nature in the occasional sale of an article in which he regularly trades to Municipality to a value not exceeding, in any one year, such amount as the Municipality to a value not exceeding, in any one year, such amount as the Municipality, with 231 the sanction of the State Government fixes in this behalf, or (g) being a party to an agreement made with the Municipality under the provisions of Section 196 (c) or of Section 229. 1- Added by U.P. Act No. 27 of 1964. 2- Subs. by section 34 of Chapter-III of U.P. Act No. 41 of 1976. 3- Subs. by section 32 of Chapter-III of U.P. Act No. 26 of 1995. [The [Uttar Pradesh]3 Municipalities Act, 1916] [Section 83-85] Provision against servants being interested in contract etc.-