Removal of Chairman or Member
7. (1) A person shall be disqualified for being appointed Chairman or Member of the Authority; if he-
(a) has been declared insolvent; or
(b) has been declared to be disqualified for employment in, or has been dismissed from the service of [Bangladesh], or has been convicted of an offence involving moral turpitude; or
(c) has knowingly acquired or continued to hold, without the permission in writing of the Government, directly or indirectly or through a partner any share or interest in any contract or employment with or by or on behalf of the Authority, or in any land or property which, in his knowledge, is likely to benefit him or has benefited him as a result of the operation of the Authority.
(2) No person shall be disqualified as aforesaid, or be deemed to have any share or interest in such contract or employment as aforesaid, by reason only of having a share or interest in-
(i) any sale, purchase, lease, or exchange of land or any agreement for the same; or
(ii) any agreement for the loan of money, or any security for the payment of money only; or
(iii) any newspapers in which any advertisement relating to the affairs of the Authority is inserted; or
(iv) the occasional sale to the Authority, to a value not exceeding two thousand taka in any one financial year, of any article in which he trades;
or by reason only of his having a share or interest, otherwise han as director, secretary, manager or other salaried officer, in any incorporated company which has any share or interest in any contract or employment with, by, or on behalf of, the Authority.