Amendment status not verified — confirm the current text below against the official source.
Disqualification for Director.— A person shall be disqualified for being nominated as a Director of the Corporation, if he— (a) is an employee of the Corporation, not being the Managing Director; or (b) is of unsound mind, and stands so declared, by a competent Court; or (c) is an undischarged insolvent; or (d) is convicted of an offence involving moral turpitude within a period of five years immediately before his being nominated as Director.