Disclosure of interest by members

(1) The persons who are considered for appointment as members of the Commission shall notify to the convenor of the selection committee – (a) of any office, employment or consultancy agreement or arrangement which he has in his own name or in any firm, association or person or body corporate, or in the names of any relatives, carrying on any of the following businesses:- (i) generation, transmission, distribution or supply of electricity; (ii) manufacture, sale or supply of any fuel for generation of electricity; (iii) manufacture, sale, lease, hire or otherwise supply of, or dealing in, machinery,plant, equipment, apparatus or fittings for generation, transmission, distribution supply or use of electricity; and (iv) any entity providing professional services to any of the businesses referred to in sub- clauses (i), (ii) and (iii) above and any other business which is notified by the Government on a later date taking into consideration the scope of work of the Commission; (b) such other details and information as may be prescribed in the rules. Explanation:- For the purpose of this sub-section, the term “relative” shall have the same meaning as defined under section 6 of the Companies Act, 1956. (2) The details received from the persons shall be placed for consideration of the selection committee at the time of the selection and recommendation of the person for appointment as member. (3) Each member of the Commission shall, before taking charge of the office as member or within such time not exceeding three months after taking charge as may be allowed by the Government on the recommendation of the selection committee, divest himself from the interest in the businesses mentioned in sub-section (1) as a condition of his appointment.