3. Any member of a municipal council who, knowingly, during the existence of his mandate, has or had, directly or indirectly, by himself or his partner, any share or interest in any contract or employment, with, by or on behalf of the council, or who, knowingly, during the existence of his mandate, has or had, through himself or his partner or partners, any commission or interest, directly or indirectly, in or in connection with a contract, or who derives any interest in or from any contract with the corporation or council of which he is a member, shall, if legally convicted thereof under this division, be disqualified from holding any public office in the council or under the control thereof, for five years.
R. S. 1964, c. 173, s. 3.