Section 127 in The Orissa Municipal Corporation Act, 2003
127. Disqualification of officers.
(1)No person shall be qualified to be appointed as an officer of the Corporation, if he has directly, or indirectly any interest in any contract made with or in any work being done for the Corporation, except as a share holder in a registered company or joint stock company or co-operative society under the laws for the time being in force.(2)Any officer of the Corporation appointed, who acquires directly or indirectly any interest as aforesaid shall cease to be such officer of the Corporation.Explanation. - A person shall not be deemed to have any interest in any contract or work as aforesaid by reason only of his having a share or interest in -(a)any lease, sale or purchase of immovable property or any agreement for the same; or(b)any agreement for the loan of money or any security for the payment or money only.
