(1) If any member or employee of a municipality or of a joint committee, without the previous permission in writing of the Deputy Commissioner voluntarily renders himself interested in any contract made with that municipality or joint committee, under section 38 or if within one month of his becoming interested in any such contract he neither resigns nor obtains the permission in writing of the Deputy Commissioner for his remaining a member or employee of the municipality or joint committee inspite of his interest in such contract, he shall be punishable for an offence under 1[the Indian Penal Code, (45 of 1860)].
(2) No member or employee of a municipality or a joint committee shall, by reason only of his being a share-holder in or a member of any corporated or registered company, be held to be interested in any contract entered into between the said company and the municipality or joint committee but no such person as aforesaid shall take part in any proceedings of the municipality or joint committee relating to any such contracts.
(2) No member or employee of a municipality or a joint committee shall, by reason only of his being a share-holder in or a member of any corporated or registered company, be held to be interested in any contract entered into between the said company and the municipality or joint committee but no such person as aforesaid shall take part in any proceedings of the municipality or joint committee relating to any such contracts.
Source footnotes
1. Substituted for “the Jammu and Kashmir State Ranbir Penal Code, 1989 (1938 AD)” by S.O. 3466 of 2020.आगे पढ़ें / Continue reading
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 2A · Substitution of expression.Section 3 · Classification of municipalities.Section 4 · Procedure for declaring muni-cipal area.Section 5 · Notification of intention to include a local area in a municipal area.Section 6 · Notification of intention to exclude local area from a municipal area.Section 7 · Exclusion of local area from a municipal area.India Code, Government of India. Text fetched 13 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.