Disqualifications

A person shall be disqualified for being appointed or for continuing as the Chairman or the Vice-Chairman or the non-official member of the Authority, if he- (a) has been convicted by a Criminal Court for an offence involving moral turpitude; or (b) is an un-discharged insolvent; or (c) is a defaulter of the Authority or any other financial institution established under any law; or (d) is of unsound mind; or (e) is the employee of the Authority; or (f) directly or indirectly, himself or through any partner, employer or employee has any share or interest in any contract or employment with, by or on behalf of the Authority; or (g) is not a citizen of India. Explanation.- For the purpose of clause (e) of this section, the Chairman and the Vice-Chairman of the Authority shall not be deemed to be an employee of the Authority.