(3)Notwithstanding anything contained in Sub-section (1) and (2), no person shall be deemed to have share or interest by reason only-(a)of his having a share or interest in -(i)a contract entered into between the Municipality and registered joint stock company or co-operative society of which such person is a member or share-holder; or(ii)any lease or purchase of land or agreement for the same; or(iii)any agreement for the loan of money or security for the payment of money only; or(iv)any newspaper in which any advertisement relating to the affairs of the Municipality is inserted;(b)of his being professional engaged on behalf of the Municipality as a legal practitioner and receiving fees for the services rendered in his professional capacity.
