Amendment status not verified — confirm the current text below against the official source.
Any Councillor or Alderman, or any member, noi being a Councillor or Alderman, of any committee of the Corporaiion, who knowingly acquires, directly or indirectly, any share or interest in any contract made with, or any work done for, the Corporation not being a share or interest which is, under section 61 or section 101, permissible for such Councillor or Alderman or member io have without being thereby disqualified for being a Councillor or Alderman or member or any committee or ihe Corporation, and the Municipal Commissioner or any other officer or employee or Ilie Corporation, who knowingly acquires, directly or indirectly, any share or interest, noL being an interest referred lo in the proviso to sub-section (1) of seclion 101, in any contract made with, or any work done, for, lhe Corporation shall be deemed to have commitled the offcnce punishable under section 168 of lhe Indian Penal Code.