State Act
Section 474. Punishment for acquiring share or interest in contract, etc. with the Corporation.
The Mumbai Municipal Corporation Act.
474. 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 section 16 it is permissible for a councillor, to have, without being hereby disqualified for being a councillor and any Commissioner, 4[Director], Deputy Commissioner, municipal officer or servant 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 clauses (h) and (k) of section 16, it is permissible for a councillor, to have without being to hereby disqualified for being a councillor, shall be deemed to have committed the offence made punishable by section 168 of the Indian Penal Code (XLV of 1860).