Section 4
Disqualifications for being a member of Corporation.
The National Co-operative Development Corporation Act, 1962
About this Act
An Act to provide for the incorporation and regulation of a corporation for the purpose of planning and promoting programmes for the production, processing, marketing, storage, export and import of agricultural produce, foodstuffs industrial goods, livestock, certain other commodities and services on co-operative principles and for matters connected therewith or incidental thereto.
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) 1[except in the case of managing director,] if he is a salaried official 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) 1[except in the case of managing director,] if he is a salaried official of the Corporation.
Notes
1. Ins. by Act 3 of 1974, s. 5 (w.e.f. 1-4-1974).