Self-Disclosure of Assets

(1) A member of the Panchayat shall, within 3 (three) months from the date of assuming office, file a statement of assets and liabilities of himself and of the members of his family, in the form prescribed before the competent authority authorized in this behalf by the State Government by notification in the Official Gazette: Provided that, a person who is a member of the Panchayat at the commencement of this Act shall submit such a statement to the Competent authority before the date specified by the State Government to this effect. (2) Where a member of the Panchayat who filed a statement under sub-section (1) acquires any asset in his name or that of other members of his family or disposes or creates any liability thereafter on the assets specified in the statement, he shall file a statement in this regard to the Competent Authority within 3 (three) months from the date of such acquisition or disposal or creation of liability, as the case may be, (3) Any member of the Panchayat who makes a statement under sub-section (1) or sub-section (2) which is false and which he knows or believes to be false or does not believe to be true shall be liable to be proceeded against in accordance with law, for filing such false statement. (4) Where a member of the Panchayat fails to file such a statement to the Competent Authority within the date specified under sub-section (1) and sub-section (2), action shall be taken to disqualify him from continuing as member of the Panchayat under Section 16. Explanation 1. - For the purpose of this section "family" of a member of the Panchayat means spouse of that member and his parents, unmarried sisters and children who are dependent on him. Explanation 2. - For the purpose of this section "asset" means all immovable properties and movable properties worth not less than Rs. 10,000.