Section 5 in Gujarat Industrial Development Act, 1962
5. Disqualification for [directorship] [This word was substituted for the word 'membership', by Gujarat 11 of 1986, Section 5 (6) (3) (w.e.f. 01-07-1986).].
- A person shall be disqualified for being nominated as a [Director] [This word was substituted for the word 'members', by Gujarat 11 of 1986, Section 6 (1) (w.e.f. 01-07-1986).] of the Corporation, if he-(a)is an employee of the Corporation, not being the [Managing Director] [These words were substituted for the words 'Chief Executive Officer', by Gujarat 11 of 1986, Section 6 (2) (w.e.f. 01-07-1986).] thereof, or(b)is of unsound mind and stands so declared, by a competent Court, or(c)is an undischarged insolvent.
