Cessation of Director

(1) If a director— (a) becomes, subject to any of the disqualifications mentioned in section 5, or (b) tender his resignation in writing to, and such resignation is accepted by, the State Government, or (c) is absent without the Corporation’s permission from three consecutive meetings of the Corporation, or from all meetings of the Corporation for three consecutive months, or (d) is convicted of an offence involving moral turpitude,— he shall cease to be a director of the Corporation. (2) The State Government may by order suspend from office for such period as it thinks fit, or remove from office any director of the Corporation, who in its opinion— (a) has refused to act, or (b) has become incapable of acting, or (c) has so abused his position as director as to render his continuance on the Corporation detrimental to the interest thereof or of the general public, or is otherwise unfit to continue as a director: (d) is otherwise unfir to continue as a member: Provided that, a director shall not be suspended or removed from unless he has been given reasonable opportunity to show cause against the order. The allotment done by the Corporation shall be generally in consonance with the Investment Policy of the State of Goa and norms prescribed under the environmental guidelines issued by the Government from time to time. Accordingly allotment in Industrial Estates will be restricted to Industries in the Green and Orange categories only. Further, no new allotment for liquor manufacturing industry or tobacco product industry will be allowed in the Industrial Estates of the Corporation. (i) In the event an allottee hands over the physical possession of the land/plot to a third party, it will be deemed to be an unauthorized transfer which shall not be recognized for any purpose, and the Corporation shall levy a penalty equal to 10% per year or part thereof, of the prevailing premium rate per sq. mts. for the plot area from the date of such unauthorized transfer, for having violated these regulations in addition to the applicable transfer fees. Should the allottee fail to regularize the unauthorized transfer by payment of fees and penalty within a notice period of 30 days the Corporation shall re-enter upon and resume the possession of the plot. (ii) All cases wherein the allottees have entered into agreements/Memorandum of understanding to transfer their lease hold rights over the allotted plot prior to the notification of these regulations shall be also processed in accordance with these regulations;— Provided that such allottees approach the Corporation with necessary documentation for processing their cases within a period of one year from the date of these regulations coming into force. After expiry of the specified one year period, all such cases shall be deemed to be unauthorized transfers which will attract penalty as prescribed under sub-clause (i). (iii) Penalty to be charged under clause 8 (i) & (ii) shall not exceed an amount equal to 100% of the prevailing rate per sq. mts.