Punishment for acquiring share or interest in contract, etc., with the Corporation

Any councillor who knowingly acquires, directly or indirectly, any share or interest in any contract or employment with by or on behalf of the Corporation, not being a share or interest such as, under clause (h) of section 22, it is permissible for a councillor to have, without being thereby disqualified for being a councillor, and any Commissioner, Deputy Commissioner, municipal officer or servant who knowingly acquires directly or indirectly, any share of interest in any contract or employment with, by or on behalf of the Corporation, not being a share or interest such as, under clause (h) of section 22, is permissible for a councillor to have, without being thereby disqualified for being a councillor, shall be deemed to have committed the offence made punishable by section 168 of the Indian Penal Code.