(1)

No person shall be qualified to be appointed or to be Commissioner [or Director] [These words were inserted by Maharashtra 53 of 1981, Section 13(b).] or a Deputy Commissioner who has, directly or indirectly, by himself or his partner, any share or interest in any contract with, by or on behalf of the corporation [* *] [The words 'or in any employment with, by or on behalf of the corporation other than as Commissioner or Deputy Commissioner, as the case may be' were deleted by Maharashtra 42 of 1977, Section 2(a).]

(2)

Any Commissioner [Director] [This word was inserted by Maharashtra 53 of 1981, Section 13(c)(i).] or Deputy Commissioner who shall acquire directly or indirectly, by himself or his partner, any share or interest in any such contract [* * *] [The words or employment were deleted by Maharashtra 42 of 1977, Section 2(b).] as aforesaid shall cease to be the Commissioner, [Director or a Deputy Commissioner,] [These words were substituted for the words 'Commissioner or a Deputy Commissioner' by Maharashtra 53 of 1981, Section 13(c)(11).] as the case may be, and his office shall become vacant.

(3)

Nothing in this section shall apply to any such share or interest in any contract [* *] [The words or employment were deleted by Maharashtra 42 of 1977, Section 2(d).] with, by or on behalf of the corporation as, under clauses (h) and (k) of section 16, it is permissible for a councillor to have without his being thereby disqualified for being a councillor.

(G) [ The General Manager] [This heading was substituted for the original heading '(D) The General Manager' by Bombay 48 of 1950, Section 29.]