A person shall be disqualified for being nominated as a member of the Corporation, if he-
(a) is an employee of the Corporation, not being the Chief Executive Officer, or ship.
(b) is of unsound mind, and stands so declared, by a competent court, or
(c) is an undischarged insolvent.
(a) is an employee of the Corporation, not being the Chief Executive Officer, or ship.
(b) is of unsound mind, and stands so declared, by a competent court, or
(c) is an undischarged insolvent.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Establishment and incorporation.Section 4 · Constitution.Section 6 · Terms of office and conditions of service of members.Section 7 · Meetings of Corporation.Section 8 · Cessation of membership.Section 9 · Vacancies how to be filled.India Code, Government of India. Text fetched 20 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.