Section 6: Disqualifications for being chosen as, or for being, a Director of a Corporation.

Director of a Corporation.—(1) A person shall be disqualified for being chosen as, or for being, a 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. (2) Nothing in clause (d) of sub-section (1) shall be deemed to disqualify the 2[Managing Director of a Corporation for being chosen as, or for being, a Director thereof.] 4[(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.]