Section 5(2) in Bangalore Water Supply and Sewerage Act, 1964
(2)Nothing contained in sub-section (1) shall prevent a member from acquiring or holding any share or interest in any firm or company [x x x] [Omitted by Act 6 of 1966 w.e.f. 17.3.1966.]:Provided that if the Board has entered into, or is about to enter into any contract or agreement with any such firm or company in which a member holds any share or interest, he shall disclose the fact and nature of such interest and he shall not be entitled to vote on any decision of the Board relating to such contract or agreement.
