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Section 5

. A person shall be disqualified to be appointed as, and for being the Chairman or other member of the Corporation, if he —

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5 . A person shall be disqualified to be appointed as, and for being the Chairman or other member of the Corporation, if he — (a) has been convicted of an offence which in the opinion of the State Government involves moral turpitude ; or (b) is an undischarged insolvent ; or (c) is physically or mentally incapable of acting as such member; or (d) in the opinion of the State Government has failed to act or has become incapable of acting in the best interests of the Corporation or has so abused his position as the Chairman or other member, as to render his continuance as such detrimental to the interests of the Corporation or the general public ; or (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 Corporation ; or