Subs. by sec. 2(ii) of U.P. Act No. 5 of 1984. — (U. P. ACT no. 43 of 1975)

2 . Subs. by sec. 2(ii) of U.P. Act No. 5 of 1984. Disqualification for being Chairman or other member Terms of office of Chairman and other members Other provisions regarding office of the Chairman and other members 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 any agreement for the same; (ii) any agreement for loan of money or any security for payment of money only; (iii) any newspaper in which any advertisement relating to affairs of the Nigam, is published; (iv) the occasional sale to the Nigam up to a value not exceeding ten thousand rupees in any one year, of any article in which he or the company regularly trades. 6. (1) The Chairman of the Nigam, unless appointed ex-officio , shall hold office for three years unless his term is determined earlier by the State Government by notification in the Gazette, and shall be eligible for re-appointment. (2) A person nominated under clause (g) of sub-section (2) of section 4 shall, unless his term is determined earlier by the State Government hold office for a period of three years or until the expiry of his term of office as elected head of the local body concerned, whichever is earlier, but shall be eligible for re-appointment. 1 [(2-A) A person nominated under clause (aa) of sub-section (2) of section 4 shall, unless his term is determined earlier by the State Government by notification in the Gazette, hold office for a period of three years, and shall be eligible for re-nomination.] (3) The members appointed under clause (a) and clause (b) of sub -section (2) of section 4 shall hold , office on such terms and conditions as the State Government may, by order, specify. (4) The Chairman or any other member as aforesaid may at any time by writing under his hand addressed to the State Government resign his office, and on such resignation being accepted, he shall be deemed to have vacated his office. 7. (1) The Chairman and the members appointed 2 [under clauses (a), (aa) and (b)] of sub-section (2) of section 4 shall be paid from the Nigam's fund such remuneration, if any, as may be fixed by the State Government. (2) If the Chairman or any other member as aforesaid is by infirmity or otherwise rendered temporarily incapable of carrying out his duties or is absent on leave otherwise in circumstances not involving the vacation of his appointment, the State Government may appoint another person to officiate for him and to carry out his functions under this Act. 3 [ * * *]

Section 2