Amendment status not verified — confirm the current text below against the official source.
(1) A persons shall be disqualified for election or appointment as a Trustee, if he -- (a) has been sentenced by a criminal court to imprisonment for a period of not less than two years, such sentence not having been reversed or the offence pardoned: Provided that the Government may direct that such sentence shall not operate as a disqualification; (b) is an applicant to be adjudicated an insolvent or is an undischarged insolvent; (c) holds any office or place of profit under the Board; (d) has, directly or indirectly by himself or by any partner, employer or employee, any share or interest in any contract or employment with, by, or on behalf of, the Board; or (e) is a director, or a secretary, manager or other salaried officer of any incorporated company which has any share or interest in any contract or employment with, by, or on behalf of, the Board. (2) A person shall not however 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 the incorporated company of which he is a director, secretary, manager or other salaried officer, having a share or interest in - (i) any sale, purchase, lease or exchange of immovable property or any agreement for the same; (ii) any agreement for the loan of money, or any security for the payment of money only; (iii) any newspaper in which any advertisement relating to the affairs of the Board is inserted; (iv) the occasional sale to the Board, to a value not exceeding two thousand rupees in any one financial year, of any article in which he or she incorporated company regularly trades; or by reason only of his having a share or interest, otherwise than as director, or secretary, manager or other salaried officer, in any incorporated company which has any share or interest in any contract or employment with, by, or on behalf of, the Board.