Amendment status not verified — confirm the current text below against the official source.
Disqualification for appointment on the Board— (1) A person shall be disqualified for being appointed or for continuing as a member of the Board if he— (a)holds any office or place of profit under the Board 3[other than the office of secretary;] (b) is of unsound mind and stands so declared by a competent court, a deaf-mute or a leper ; (c) is, or at any time has been, adjudicated insolvent or has suspended payment of his debts or has compounded with his creditors ; (d) has directly or indirectly by himself, by his wife or son, or by any partner, any share or interest in any subsisting contract or employment with, by or on behalf of the Board ; ____________________________________________________________________________________ 1.Inserted by Act No.5 of 1965 2.Inserted by Act No.21 of 1967 3.Added by Act 15 of 1960 4 (e)is a Director or Secretary or a Manager or other salaried officer of any incorporated company or any co-operative society, which has any share or interest in any contract or employment with, by or on behalf of the Board. (2)(a) A person shall not be disqualified under clause (a) of sub-section(1) by reason only of his being a member receiving any allowance as provided in sub-section (3) of section 4. (b) A person shall not be disqualified under clause (d) or clause (e) of sub-section (1), or be deemed to have any share or interest in any contract or employment within the meaning of those clauses by reason only of his, or of the incorporated company or of a co-operative society, of which he is a Director, Secretary, Manager or other salaried officer, having a share or interest in any newspaper in which any advertisement relating to any affairs of the Board is inserted. (c) A person shall not also be disqualified under clause (d) or clause (e) of sub section (1)or be deemed to have any share or interest in any contract or employment with, by or on behalf of the Board by reason only of his being a share holder of such company or society: Provided that such person discloses to the Government the nature and extent of the share held by him from time to time.