(1) A member or a person associated with the Board or a member of any committee who —
(a) has, directly or indirectly, by himself or by any partner, any such share or interest as is described in sub-section (1) of section 6 in respect of any matter, or
(b) has acted professionally, in relation to any matter on behalf of any person having therein any such share or interest as aforesaid, shall not vote or take part in any proceedings of the Board or any committee relating to such matter.
(2) If any member or any person associated with the Board under section 18 or any member of a committee appointed under section 19 has, directly or indirectly, any beneficial interest in any land situated in an area comprised in any housing, improvement or building scheme framed under this Act, or in an area in which it is proposed to acquire land for any of the purposes of this Act,—
(i) he shall at a meeting, relating to such area, of the Board or any committee inform the person presiding of the nature of such interest; and
(ii) he shall not take part in any proceedings relating to such area at a meeting of the Board or any committee.
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(3) Nothing in sub-section (2) shall prevent any member or any person associated with the Board under section 18 or any member of a committee appointed under section 19 from voting on, or taking part in the discussion, of any resolution or question relating to any subject other than a subject referred to in that sub-section.
CHAPTER-IV Powers of Board and Chairman to incur expenditure on schemes and enter into contracts