Section 26C. Disqualification for being Vice Chairman or other member

1[26-C. A person shall be disqualified for being chosen as and for being the 2[Vice-Chairman] or other member of the Board if he (a) has been convicted of an offence involving moral turpitude ; (b) is an undischarged insolvent ; (c) is of unsound mind and stands so declared by a competent Court ; (d) holds, except as provided in section 26-D and section 26-E any office of profit under the Board ; (e) has, directly or indirectly by himself or by any partner, employer or employee, any share or interest, whether pecuniary or of any other nature, in any contract or employment, with, by, or on behalf of the Board ; or (f) is a director or secretary, manager or other officer of any company which has nay share or interest in any contract or employment with, by, or on behalf of, the Board ; Provided that a person shall not be disqualified under clause (e) or clause (f) by reason only of his or the company of which he is a director, secretary, manager or other officer, having a share or interest in (i) any sale, purchase, lease or exchange of immovable property or nay agreement for the same ; (ii) any agreement for loan of money or any security for payment of money only ; (iii) any newspapers in which any advertisement relating to the affairs of the Board, is published ; (iv) the occasional sale to the Board, up to a value not exceeding ten thousand rupees in any one year, of any article in which he or the company regularly trades.]1