Section 3. Declaration of assets and submission of annual returns by public men.

(1) Every public man shall submit to the prescribed authority a return of all the assets possessed by him and his family members within three months after he becomes a public man. (2) It shall be incumbent on the part of every public man to submit annual returns of the assets held by him and his family members in the month of January every year and shall state the reasons for increase if any, in the assets and source thereof. The annual return shall be in such form as may be prescribed by rules framed under this Act : Provided that in the case of a person who was a public man or 21st January, 1983, it shall also be incumbent for him to submit a return within four months from the said date of all the assets possessed by him and his family members at the time of his becoming such public man and of the assets possessed by him and his family members on the said date.