Paragraph 2

If a member appointed as an independent member–

(a)

commences or resumes carrying on a business in the industry or acts in the management of any undertaking the owner of which carries on business in the industry, or

(b)

refuses to sell or dispose of any interest or security held directly or indirectly for his benefit and the retention of which he has been informed by the Minister to be in his opinion likely to affect him in the discharge of his functions or fails to sell or dispose of any such interest or security within one month after having been requested by the Minister so to do,

the Minister may declare the office of such member to be vacant.