If he holds any other office or place of profit under the Company;If he becomes bankrupt or insolvent;If he is concerned in or participates in the profits of any contract with the Company;If he participates in the profits of any work done for the Company:But the above rules shall be subject to the following exceptions:- that no Director shall vacate his office by reason of his being a shareholder in any incorporated Company which has entered into contracts with or done any work for the Company of which he is Director; nevertheless he shall not vote in respect of such contract or work; and if he does so vote, his vote shall not be counted, and he shall incur a penalty not exceeding Five hundred Rupees.Rotation of Directors
