Section 5(4) in The Calcutta Metropolitan Water And Sanitation Authority Act, 1966
(4)A person shall be disqualified for being appointed or elected, or for continuing as, a Director if he has, directly or indirectly, any interest in a subsisting contract made with, or in any work being done for, the Authority except as a shareholder (other than a director) in an incorporated company; provided that where he is a shareholders, he shall disclose to the State Government the nature and extent of shares held by him in such company.
