(2)With respect to any contract, the following provisions shall have effect, namely:-(a)every contract shall, -(i)in the case of a Municipal Corporation, be signed and executed on behalf of the Municipal Corporation, by the Mayor and the Commissioner;(ii)in the case of a Municipal Corporation or a Nagar Panchayat, be signed and executed on behalf of the Municipal Corporation or the Nagar Panchayat, as the case may be, by the President and the Executive Officer;(b)no such contract, for any purpose, shall be entered into and executed without the prior sanction of the competent sanctioning authority; and(c)every contract, so executed shall be reported, -(i)in the case of Municipal Corporation by the Commissioner, to the Municipal Corporation;(ii)in the case of a Municipal Council or a Nagar Panchayat, by the Executive Officer, to the Municipal Council or the Nagar Panchayat as the case may be,within fifteen days of the execution of such contract.
