Section 48 in Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979
48. Officers of the [Agriculture and Rural Development Banks] [Substituted for 'Land Development Bank' vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1987.] and sale officers not to bid at sale.
(1)At any sale of movable or immovable property held under the provisions of this Act in order to recover any money due to a [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1987.], no Director, Secretary or other officer of such Bank (except on behalf of the bank of which he is Director, Secretary or officer) and no sale officer or other person having any duty to perform in connection with such sale, shall, either directly or indirectly, bid Tor or acquire or attempt to acquire any interest in such property.(2)Every person contravening the provisions of the foregoing sub-section (1) shall, oil conviction, be punished with fine which may extend to five hundred rupees.(3)No prosecution under this section shall be lodged, except with the previous sanction of Registrar.
