Whoever, being a public servant, and being legally bound as such public servant, not to purchase or bid for certain property, purchases or bids for that property, either in his own name or in the name of another, or jointly, or in shares with others, shall be punished with simple imprisonment for a term which may extend to two years, or with fine, or with both; and the property, if purchased, shall be confiscated.

Simply Put

This section means a public servant shall not buy a certain property which is prohibited for public officers to buy, he cannot buy It in someone else's name or jointly or shares with others, if he does that he shall be punished with simple imprisonment which can extend upto 2 years, or fine, or both, and the property bought shall be confiscated.

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