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Section 21: Disqualification for office of director of the Corporation.

The Warehousing Corporations Act, 1962Central Act · Act 58 of 1962

A person shall be disqualified for being chosen as, and for being, a director of a State Warehousing Corporation--

(i) if he is found to be a lunatic or becomes of unsound mind; or

(ii) if he is, or at any time has been, adjudicated insolvent or has suspended payment of his debts or has compounded with his creditors; or

(iii) if he is or has been convicted of any offence involving moral turpitude and sentenced in respect thereof to imprisonment for not less than six months, unless a period of five years has elapsed from the date of expiry of the sentence; or

(iv) if he has been removed or dismissed from service of Government or a corporation owned and controlled by the Government; or

(v) except in the case of the managing director, if he is a salaried official of * * * a State Warehousing Corporation; or

(vi) if he is personally interested in a subsisting contract made with, or in any work being done for, the State Warehousing Corporation except as a shareholder (other than a director) in any public company as defined in the Companies Act, 1956 (1 of 1956):

Provided that where any such person is a shareholder, he shall disclose to the Warehousing Corporation the nature and extent of the shares held by him in such company.

Where this provision sits

ActThe Warehousing Corporations Act, 1962
Section21
Marginal noteDisqualification for office of director of the Corporation.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • omitted, Act 23 of 2001. . The words "the Central Warehousing Corporation or" omitted by Act 23 of 2001, s. 4 (w.e.f. 1-11-2001).

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