Section 6:
Disqualifications for being chosen as, or for being, a Director of a Corporation.
6. Disqualifications for being chosen as, or for being, a 1[Director of a Corporation].--2[(1)] A
person shall be disqualified for being chosen as, or for being, a 1[Director of a Corporation[--
(a) if he is found to be a lunatic or a person of unsound mind; or
(b) if he has been adjudged insolvent; or
(c) if he has been convicted of an offence involving moral turpitude; or
(d) if he has, directly or indirectly, any interest in any subsisting contract made with, or in any
work being done for, the Corporation except as a shareholder (other than a director) in an
incorporated company, provided that where he is a shareholder he shall disclose to the State
Government the nature and extent of shares held by him in such company; or
(e) if he has any financial interest in any other road transport undertaking.
3[(2) Nothing in clause (d) of sub-section (1) shall be deemed to disqualify the 4[Managing Director]
of a Corporation for being chosen as, or for being, a
5[Director] thereof.]
6[(3) Nothing in clause (e) of sub-section (1) shall be deemed to disqualify,--
(a) any officer or other employee of the Government for being chosen as, or for being, a Director
of a Corporation;
(b) any officer or other employee of a Corporation for being chosen as, or for being, a Director of
another Corporation.]
Notes:
1. Subs. by s. 4, ibid., for "member of a Corporation" (w.e.f. 13-11-1982).
2. Section 6 re-numbered as sub-section (1) thereof by Act 28 of 1959, s. 2 (w.e.f. 1-9-1959).
3. Ins. by Act 28 of 1959, s. 2 (w.e.f. 1-9-1959).
4. Subs. by Act 63 of 1982, s. 4, for "Chief Executive Officer or General Manager" (w.e.f. 13-11-1982).
5. Subs. by s. 4, ibid., for "member" (w.e.f. 13-11-1982).
6. Ins. by s. 4, ibid. (w.e.f. 13-11-1982).