Bidding prohibited

(1) No employee or officer of the City Corporation having any duty to perform in connection with the sale of movable or immovable property by or on behalf of the City Corporation under this Act shall directly or indirectly bid for or acquire interest in any property sold at such sale.

1. (2) Any person who contravenes the provisions of sub-section (1) shall be punished with fine which may extend to five hundred rupees and shall be liable to dismissal from service.