4 [(1)] A person shall be disqualified for being chosen as, or for being, a 3 [Director of a Corporation]—
(a) if he is found to be a lunatic or a person of unsound mind; or
(b) if he has been adjudged insolvent; or
(c) if he has been convicted of an offence involving moral turpitude; or
(d) if he has, directly or indirectly, any interest in any subsisting contract made with, or in any work being done for, the Corporation except as a shareholder (other than a director) in an incorporated company, provided that where he is a shareholder he shall disclose to the State Government the nature and extent of shares held by him in such company; or
(e) if he has any financial interest in any other road transport undertaking.
1. Subs. by Act 71 of 1971, s. 7(a) and the First Schedule, for “the whole or any part of the State” (w.e.f. 3-9-1971).
2. Subs. by Act 63 of 1982, s. 3, for section 5 (w.e.f. 13-11-1982).
3. Subs. by s. 4, ibid., for “member of a Corporation” (w.e.f. 13-11-1982).
4. Section 6 re-numbered as sub-section (1) thereof by Act 28 of 1959, s. 2 (w.e.f. 1-9-1959).
6 1 [(2) Nothing in clause (d) of sub-section (1) shall be deemed to disqualify the 2 [Managing Director] of a Corporation for being chosen as, or for being, a 3 [Director] thereof.]
4 [(3) Nothing in clause (e) of sub-section (1) shall be deemed to disqualify,—
(a) any officer or other employee of the Government for being chosen as, or for being, a Director of a Corporation;
(b) any officer or other employee of a Corporation for being chosen as, or for being, a Director of another Corporation.]