A person shall be disqualified for being appointed as a member if he--
         (a) has been convicted and sentenced to imprisonment for an offence which, in the opinion of the Central Government, involves moral turpitude; or
         (b) is an undischarged insolvent; or
         (c) is of unsound mind and stands so declared by a competent Court; or
         (d) has been removed or dismissed from the service of the Government or a Corporation owned or controlled by the Government; or
         (e) has, in the opinion of the Central Government, such financial or other interest in the Authority as is likely to affect prejudicially the discharge by him of his functions as a member.