Section 4(10) in The U.P. Electricity Reforms Act, 1999
(10)So long as a person holds the office of the member and for a period of two years after he ceases to be a member for any reason whatsoever, he shall not acquire, hold or maintain, directly or indirectly any office, employment or consultancy arrangement or any financial interest in any of the businesses mentioned in sub-section (6) and if he acquires any such interest involuntarily or by way of succession or testamentary' disposition he will divest himself of the interest within a period of three months of such interest being acquired.Explanation. - For the purposes of this section a member shall not be taken as holding financial interest in any business if the member is a shareholder holding less than two per cent of the issued share capital in any public company.
