Amendment status not verified — confirm the current text below against the official source.
A person shall be disqualified for being appointed for continuing as the Vice-Chairman or a member of the Board, if he— (a) is of unsound mind, (b) is an uncertificated bankrupt or an undischarged insolvent, (c) has directly or indirectly by himself or by any partner, any share or interest in any contract or employment, as the case may be, with, by or on behalf of, the Board, or (d) is a Director, Secretary, Manager or other salaried officer of any incorporated company which has any share or interest in any contract or employment, as the case may be, with, by or on behalf of, the Board, or (e) has been or is convicted of any offence involving moral • turpitude: Provided that a person shall not be disqualified under clause (c) or clause (d) or be deemed to have any share or interest in any incorporated company which has any share or interest in any contract or employment, as the case may be, with, by or on behalf of, the Board, by reason only of his being a shareholder of such company if such person discloses to the State Government the nature and extent of the shares held by him.