385. Penalty for acquisition by an officer or servant of interested in contract work.
- If any officer or servant of a [Municipality] [Substituted vide Orissa Act No. 11 of 1994 w.e.f. 31.5.1994.] knowingly acquires, directly or indirectly by himself or by a partner or employer or servant, any personal share or interest in any contract or employment with, by or on behalf of the [Municipality] [Substituted vide Orissa Act No. 11 of 1994 w.e.f. 31.5.1994.], he shall be deemed to have committed an offence under Section 168 of the Indian Penal Code, Act XLV of 1860 :Provided that no person shall, by reason of being a shareholder in or member of any registered Joint Company or Co-operative Society constituted under the laws for the time being in force be held to be interest in any contract entered into between such company and the [Municipality] [Substituted vide Orissa Act No. 11 of 1994 w.e.f. 31.5.1994.] unless he is Director of such Company :Provided further that nothing in this section shall apply to a teacher, employed by a [Municipality] [Substituted vide Orissa Act No. 11 of 1994 w.e.f. 31.5.1994.] who with the sanction of the State Government enters into a contract with the [Municipality] [Substituted vide Orissa Act No. 11 of 1994 w.e.f. 31.5.1994.] with regard to the utilisation, for the purpose of a school of any land or building owned by him or in which he has a share or interest.
