Notwithstanding anything contained in section 4, a person shall not be entitled to have his name entered in, or borne on, the [Register of members] if he--
(i) has not attained the age of twenty-one years at the time of his application for the entry of his name in the [Register of members]; or
(ii) is of unsound mind and stands so adjudged by a competent court; or
(iii) is an undischarged insolvent [or undischarged bankrupt]; or
[(iiia) is declared bankrupt under the Insolvency and Bankruptcy Code, 2016 (31 of 2016);]
(iv) being a discharged insolvent, has not obtained from the court a certificate stating that his insolvency was caused by misfortune without any misconduct on his part; or
(v) has been convicted by a competent court whether within or [outside India], of an offence involving moral turpitude and punishable with imprisonment or of an offence, not of a technical nature, committed by him in his professional capacity unless in respect of the offence committed he has either been granted a pardon or, on an application made by him in this behalf, the Central Government has, by an order in writing removed the disability; or
(vi) has been removed from membership of the Institute on being found on inquiry to have been guilty of professional or other misconduct:
Provided that a person who has been removed from membership for a specified period, shall not be entitled to have his name entered in the [Register of members] until the expiry of such period.