(1) A Revenue-officer, or a person employed in a revenue-office, shall not—
        (a) purchase or bid for, either in person or by agent, in his own name or in that of another, or jointly or in shares with others, any property which any Revenue-officer or Revenue Court in the District in which he is employed has ordered to be sold, or,
        (b) in contravention of any rules made by the Local Government in this behalf, engage in trade in that district.
    (2) Nothing in sub-section (1) shall be deemed to preclude any person from becoming a member of a company incorporated under the Indian Companies Act, 1882, (VI of 1882) or other law.