Disqualification for appointment on Board

(1) A person shall be disqualified for being appointed or continuing as the Chairman or member of the Board, if he— (a) holds any office or place of profit under the Board, (b) is of unsound mind, (c) is an uncertificated bankrupt or an undischarged insolvent, (d) has directly or indirectly by himself or by any partner, any share or interest in any contract or employment with, by or on behalf of the Board, or (e) is a director, secretary, manager or other salaried officer of any incorporated company which has any share or interest in any contract or employment with, by or on behalf of the Board. (1-A) For the purpose of clause (a) of sub-section (1), a person shall not be deemed to hold office or place of profit under the Board by reason only that he is a Housing Commissioner. (2) A person shall not, however, be disqualified under clause (d) or (e) of sub-section (1) or be deemed to have any share or interest in any contract or employment within the meaning of these clauses, by reason only of his or the incorporated company of which he is a director, secretary, manager or other salaried officer having a share or interest in any news-paper in which any advertisement relating to the affairs of the Board is inserted. (3) A person shall not also be disqualified under clause (d) or (e) of sub-section (1) or be deemed to have any share or interest in any incorporated company which has any share or interest in any contract or employment with, by or on behalf of, the Board, by reason only of his being a shareholder of such company : Provided that such person discloses to the State Government the nature and extent of the shares, held by him.