Section 116(9) in The Punjab Panchayati Raj Act, 1994
(9)If the person presiding is believed by any member present at the meeting to have any such pecuniary interest in any matter under discussion, and if a motion to that effect is carried, he shall not preside at the meeting during such discussion or vote on, or take part in it and in that case any member of the Panchayat Samiti may be chosen to preside at the meeting during the continuance of such discussion.