Section 462 — Punishment for acquiring share or interest in contract, etc., with the Corporation.

1 [Any councillor or any person referred to in clause (b) of sub-section (3) of section 3 of any committee of 2 [ 3 [the Corporation]]] who knowingly acquires, directly or indirectly, any share or interest in any contract made with, or any work done for, 2 [ 3 [the Corporation]] not being a share or interest such as under section 9 it is permissible for a councillor to have without being thereby disqualified for being a councillor 4 ***, and the Commissioner, 5 *** 6 *** or any municipal officer or other municipal employee who knowingly acquires, directly or indirectly, any share or interest in any contract made with, or any work done for, 2 [ 3 [the Corporation]] not being a share or interest such as under clause (i) of sub-section (1) of section 9 or subclauses (ii) and (iii) of clause (c) of sub-section (2) of that section it is permissible for a councillor 4 *** to have, without being thereby disqualified for being a councillor 4 ***, shall be deemed to have committed the offence made punishable under section 168of the Indian Penal Code (45 of 1860).

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