4. Disqualifications for being a member of Corporation
A person shall be disqualified for being chosen as, and for being, a member of the Corporation—
(i)
if he is, or at any time has been, adjudicated insolvent or has suspended payment of his debts or has compounded with his creditors; or
(ii)
if he is or has been convicted of any offence involving moral turpitude and sentenced in respect thereof to imprisonment for not less than six months, unless a period of five years has elapsed from the date of expiry of the sentence; or
(iii)
[except in the case of managing director,] if he is a salaried official of the Corporation.
Amendment notes (1)
- Ins w.e.f. 1-4-1974 . Ins. by Act 3 of 1974, s. 5 (w.e.f. 1-4-1974).