Section 5(3) in Karnataka Electricity Reform Act, 1999
(3)The persons who are considered for appointment as members, shall notify the convenor of the selection committee,-(a)of any office, employment or consultancy agreement or arrangement which he has in his own name or in any firm, association of persons or body corporate, or in the names of any relative, carrying on any of the following businesses or any financial interest therein:-(i)generation, transmission, distribution or supply of electricity;(ii)manufacture, sale or supply of any fuel for generation of electricity;(iii)manufacture, sale, lease, hire, supply or otherwise dealing in machinery, plant, equipment, apparatus or fittings for the generation, transmission, distribution, supply or use of electricity; and(iv)any entity providing professional services to any of the businesses referred to in clauses (i), (ii) and (iii) above; and(b)of such other details and information as may be prescribed.Explanation. - For the purpose of this section, the term "relative" shall have the same meaning as defined under section 6 of the Companies Act, 1956 and a member and his relatives shall not be taken as holding financial interest in any business of a public company if they are shareholders holding in aggregate less than two percent of the issued share capital in that public company.
