154. Restriction on Revenue-officers bidding at auctions or trading.
(1)A Revenue-officer, or a person employed in a revenue-officer, shall not -(a)purchase or bid for, either in person or by agent, in his own name or in that of another, or jointly or in shares with others, any property which any Revenue-officer or Revenue Court in the district in which he is employed has ordered to be sold, or,(b)in contravention of any rules made by the [State Government] [Substituted for the words 'Provincial Government' by the Adaptation of Laws Order, 1950.] in this behalf, engage in trade in that district.(2)Nothing in sub-section (1) shall be deemed to preclude any person from becoming a member of a company incorporated under the Indian Companies Act, 1882, (VI of 1882), [the Indian Companies Act, 1913] [Inserted by Punjab Act 3 of 1928, section 16 see new Companies Act, 1956.], or other law.
