Section 14(4) in The Chennai Metropolitan Water Supply and Sewerage Act, 1978
(4)A person shall not also be disqualified under clause (f) or clause (g) of sub-section (1) or be deemed to have any share or interest in any contract with, by or on behalf of, the Board, by reason only of his being a share holder of such company:Provided that such person shall disclose to the Government, the nature and extent of the shares held by him.
