Disqualification for being appointed, or for continuing as, a member of the Board

A person shall be disqualified from being appointed as a member or continuing as a member of the Board, if he,— (a) is of unsound mind; (b) is an undischarged insolvent; (c) has been convicted for an offence involving moral turpitude or convicted for an offence of financial irregularity; (d) directly or indirectly holds any share or interest in any contract or work by the Board or on behalf of the Board.