Insertion of new section 83A in Act IV of 1957

Insertion of new section 83A in Act IV of 1957.--After section 83 of the principal Act, the following section shall be inserted, namely :-- "83-A. Declaration of assets and liabilities.--(1) Every member of the Legislature of the state, whether elected or nominated, shall, within ninety days from the date on which he makes and subscribes an oath or affirmation, according to the form set out for the purposes in the Fifth Schedule to the Constitution, for taking his seat in the Legislative Assembly of the State, or the Legislative Council of the State, as the case may be, furnish the information, relating to--

1. (i) the movable and immovable property of which he is the owner or a beneficiary ;
2. (ii) his liabilities to the Central Government or the State Government ;
3. (iii) the dues to any public financial institution ; and
4. (iv) his liabilities to any public financial institution : Provided that the member specified in sub-section

1. (1) shall furnish the information to the Chairman of the Legislative Council of the State or the Speaker of the Legislative Assembly of the State, as the case may be.
2. (2) The information under sub-section
3. (1) shall be furnished in such form and in such manner as may be prescribed in the rules made under sub-section (3).
4. (3) The Chairman of the Legislative Council of the State or the Speaker of the Legislative Assembly of the State, as the case may be, may make rules for the purposes of sub-section (2).
5. (4) The rules made by the Chairman of the Legislative Council of the State or the Speaker of the Legislative Assembly of the State under sub-section
6. (3) shall be laid, as soon as may be after they are made, before the Council or the Legislative Assembly, as the case may be, for a total period of thirty days which may be comprised in one session or in two or more successive sessions and shall take effect upon the expiry of the said period of thirty days unless they are sooner approved with or without modifications or disapproved by the Legislative Council or the Legislative Assembly and where they are so approved, they shall take effect on such approval in the form in which they were laid or in such modified form as the case may be, and where they are so disapproved, they shall be of no effect.
7. (5) The Chairman of the Legislative Council of the State or the Speaker of the Legislative Assembly of the State may direct that any wilful contravention of the rules made under sub-section
8. (3) by an elected candidate referred to in sub-section
9. (1) may be dealt with in the same manner as the breach of privilege of the Legislative Council or the Legislative Assembly, as the case may be.
   • (i) "immovable property" means the land and includes any building or other structure attached to the land or permanently attached to anything which is attached to the land ;
   • (ii) "moveable property" means any other property which is not the immovable property and includes corporeal and incorporeal property of any description ;
   • (iii) "public financial institution" means any public financial institution within the meaning of section 4A of the Companies Act, 1956 and includes bank ; and
   • (iv) "bank" referred to in clause
   • (iii) here--
   • (a) "State Bank of India" constituted under section 3 of the State Bank of India Act, 1955 ;
   • (b) "Subsidiary Bank" having the meaning assigned to it in clause
   • (k) of section 2 of the State Bank of India (Subsidiary Banks) Act, 1959 ;
   • (c) "Regional Rural Bank" established under section 3 of the Regional Rural Banks Act, 1976 ;
   • (d) "Corresponding new Bank" having the meaning assigned to it in clause
   • (da) of section 5 of the Banking Regulation Act, 1949 ; and
   • (e) "co-operative bank" having the meaning assigned to it in clause
   • (cci) of section 5 of the Banking Regulation Act, 1949 as modified by sub-clause
     • (i) of clause
   • (c) of section 56 of that Act."