Amendment status not verified — confirm the current text below against the official source.
(1) A person who has directly or indirectly or indirectly, by himself or his partner, a [share or interest, whether pecuniary or of any other nature]1 in a contract with, by or on behalf of a [Municipality]2 or in any employment with, under, by or on behalf of, a [Municipality]2, other than as a municipal servant, shall be disqualified for being a servant of such [Municipality]2. (2) A municipal servant who shall acquire on continue to have directly or indirectly, himself or his partner a [share or interest, whether pecuniary or of any other nature]1 in any such contract or employment as aforesaid shall cease to be a municipal servant, and his office shall become vacant. (3) A municipal servant who knowingly acquires or continues to have, directly or indirectly, a [share or interest, whether pecuniary or of any other nature]1 in a contract or, except in so far as concerns his employment as a municipal servant, in any employment with under, by, or on behalf of, a [Municipality]2 of which he is a servant, shall be deemed to have committed an offence under Section 168 of the Indian Penal Code (Act No. XLV of 1860). (4) Nothing in this section shall apply to any such [share or interest, whether pecuniary or of any other nature]1 in a contract or employment with under, by, or on behalf of , the [Municipality]2 as is referred to in clauses (b), (d) and (g) of sub- section (2) of Section 82 or to any [share or interest, whether pecuniary or of any other nature]1 acquired or retained, with the permission of the Prescribed Authority, in any lease, sale or purchase of land or buildings, or in any agreement for the same. All officers and servants of a [Municipality]2 to be deemed public servants