Section 7(2) in Uttar Pradesh Rural Housing Board Act, 1983
(2)A person shall not be disqualified under clause (e) or clause (f) of sub-section (1) or be deemed to have any share or interest in any contract or employment within the meaning of the said clauses, by reason only of his or the incorporated company of which he is a director, secretary, manager or other salaried officer, having a share or interest in -(a)any sale purchase, lease or exchange of immovable property or any agreement for the same:(b)any agreement for loan of money or any security for payment of money only;(c)any newspaper in which any advertisement relating to the affairs of the Board is published;(d)the occasional sale to the Board, up to a value not exceeding ten thousand rupees in any one year, of any article in which he or the company regularly trades.Explanation. - A person shall not deemed to have any share or interest in any contract or employment with, by or on behalf of, the Board by reason only of his being a shareholder of a company which has such share or interest.
