Councillor having pecuniary interest in any contract etc. with Municipality and disclosure of such interest.

Subject to such rules as the State Government may make in this behalf, if a Councillor has any pecuniary interest, direct or indirect, in any contract 0: proposed contract with or without employment under, or in any other matter concerning, the Municipality, he shall, before he is present at a meeting of the Municipality or of a committee thereof at which such contract or employment or other matter is a subject for consideration, disclose, in the ma.nner prescribed, the fact regarding such contract or employment or other matter, and shall abide by the directions of the Presiding Officer of the meeting as to his taking part in the consideration or discussion of, or vote on, any question with respect to such contract or employment or other matter.