Penalty for Councillor, officer or servant of Zilla Parishad having interest in any

directly or indirectly any share or interest in any work done or development scheme executed by order of the Zilla Parishad or Panchayat Samiti of which he is a Councillor, or as the case may be, member or by which he is maintained or under which he is employed, or in any contract with or under such Zilla Parishad, or Panchayat Samiti he shall be liable, on conviction, to a fine which may extend to one thousand rupees or simple imprisonment which may extend to three months or with both : Provided that, no person shall be convicted under this section by reason only of such person—

1. (a) having a share in any joint stock company or a share or interest in any co-operative society which shall contract with or be employed by or on behalf of the Zilla Parishad or Panchayat Samiti; or
2. (b) having a share or interest in any newspaper in which any advertisement relating to the affairs of the Zilla Parishad or Panchayat Samiti may be inserted; or
3. (c) having share or interest in any transaction of loan given, or grant made, by or on behalf of a Zilla Parishad (such share or interest being acquired in accordance with the rules prescribed by the State Government);
4. (d) holding a debenture or being otherwise concerned in any loan raised by or on behalf of the Zilla Parishad; or
5. (e) being professionally engaged on behalf of the Zilla Parishad or Panchayat Samiti as a legal practitioner;

1962 : Mah. V] The Maharashtra Zilla Parishads and Panchayat 153

Samitis Act, 1961

1[(f) having a share or interest referred to in sub-clause (v), (vi) or (vii) of clause (b) of sub-section (2) of section 16.]