Certain officers not to be interested in contract

Certain officers not to be interested in contract.-

1. (1) No person who has, directly or indirectly, by himself or by his partner or agent, any share or interest in any contract, by or on behalf of the Corporation or in any employment under, by or on behalf of the Corporation, otherwise than as an officer or servant thereof, shall be qualified to be an officer or servant of the Corporation.
2. (2) Any officer or servant of the Corporation who shall acquire, directly or indirectly, by himself or by his partner or agent, any share or interest in any such contract or employment as is referred to in sub-section
3. (1) shall cease to be an officer or servant of the Corporation and his office shall become vacant.