Disqualification of Commissioner having share or interest is in contracts

No Commissioner of a Board or a committee shall have without the written permission of the State Government, directly or indirectly, any share of interest in any contract, lease, sale or purchase of land or any agreement for the same of any kind whatsoever to which the Board is a party, or shall hold any office of profit under it, and if any Commissioner shall have such share or interest or shall hold such office he shall thereby become disqualified to continue in office as a Commissioner, and shall be liable to a fine not exceeding hundred rupees: Provided that a Commissioner shall not be disqualified or liable by reason only-

1. (a) of his having a share or interest in-
   • (i) a contract entered into between the Board and any incorporated or registered Co-operative Society of which such Commissioner is a member or share holder; or
   • (ii) any agreement for the loan of money, or my security for the payment of money only; or
   • (iii) any newspaper in which any advertisement relating to the affairs of the municipality is inserted; or
2. (b) of his being professionally engaged on behalf of the Board as a legal or medical practitioner and receiving a fee for services rendered in his professional capacity. But no Commissioner shall act as commissioner of a Board or committee in any proceedings relating to any matter in which he is so interested or take any part therein. Provided that the State government may as order in that behalf remove any disqualification or liability mentioned in this section.