A person shall be disqualified for being appointed as and for being a member if he,-
(i) has been convicted and sentenced to imprisonment for an offence which in the opinion of the Authority involves moral turpitude; or
(ii) is of unsound mind and stands so declared by a competent authority; or
(iii) is an undercharged insolvent; or
(iv) has been removed or dismissed from service of the Central or State Government or a body or corporation owned or controlled by the Central Government or a State Government; or 8
(v) has directly or indirectly by himself or as partner, has any share or interest in any work done by the order of the Authority or in any contract or employment with or under or by or on behalf of the Authority; or
(vi) is employed as a paid legal practitioner on behalf of the Authority or accept employment as legal practitioner against the Authority:
Provided that no person shall be disqualified under clause (v) or be deemed to have any share or interest in any contract or employment within the meaning of the said clause by reason only of his having a share or interest in any newspaper in which any advertisement relation to the affairs of the Authority is inserted.