Section 462. Punishment for acquiring share or interest in contract, etc., with the Corporation

462. Punishment for acquiring share or interest in contract, etc., with the Corporation.—[1] [Any councillor or any person referred to in clause (b) of sub-section (3) of section 3 of any committee of[2] [[3] [the Corporation]]] who knowingly acquires, directly or indirectly, any share or interest in any contract made with, or any work done for,[2] [[3] [the Corporation]] not being a share or interest such as under section 9 it is permissible for a councillor to have without being thereby disqualified for being a councillor[4] *, and the Commissioner,[5] *[6] * or any municipal officer or other municipal employee who knowingly acquires, directly or indirectly, any share or interest in any contract made with, or any work done for,[2] [[3] [the Corporation]] not being a share or interest such as under clause (i) of sub-section (1) of section 9 or subclauses (ii) and (iii) of clause (c) of sub-section (2) of that section it is permissible for a councillor[5] * to have, without being thereby disqualified for being a councillor[5] *, shall be deemed to have committed the offence made punishable under section 168 of the Indian Penal Code (45 of 1860).