Member of the Committee not to take part in the proceeding in which he is pecuniarily interested

No member of the Committee shall vote or take part in the discussion of any question coming up for consideration at a meeting of the committee, if the question is one in which he or any of his relatives has any direct or indirect pecuniarily interest or he is interested in such question in his professional capacity on behalf of his client or as an agent. Explanation:- For the purpose of this section, expression "relative" shall have the same meaning as assigned to it under section 6 of the Companies Act, 1956 (1 of 1956). (2) term the industry be shown to the satisfaction of the State Government to be paying interest or a dividend upon the capital invested in such industry in excess of such rate as the State Government may determine. (3) The condition of a grant of subsidy for the conduct of research or grant, on favourable terms, of land, raw material, fuel, water or any other property or right of the State Government or the grant, on favourable terms, of the services of experts the value thereof, as may be determined, at the time of making the grant or concession, shall be repaid to the State Government at the close of such term of years as may be fixed by the State Government in this behalf, if within that time the industry be shown to the satisfaction of the State Government to be paying interest or a dividend upon the capital invested in such industry in excess of such rate as the State Government may determine. (4) Without prejudice to the provisions of sub-section (3), the condition of a grant of a subsidy for the conduct of a research may further be that the State Government shall have a share not exceeding twenty-five percent in the patent rights arising out of such research. (5) State aid granted to any industry shall be discontinued if the industry be shown to the satisfaction of the State Government to be paying interest or a dividend upon the capital invested in such industry in excess of such rate as the State Government may determine.