Section 11

Any member of the Board who retains, purchases, takes or becomes or remains interested in any shares in any energy undertaking in contravention of the provisions of this section shall be disqualified from, and be deemed to have vacated his office as such member, and the Chairman shall cause an entry to that effect to be made in the minutes of the Board as soon as practicable after the fact of any such contravention comes to his knowledge.

The fact of any person disqualified under this section having sat on, or taken part in any proceedings of, the Board before such entry as aforesaid has been made in the minutes shall not invalidate any resolution or proceedings of the Board.

In this section—

"shares in any energy undertaking" means any stock, shares, debentures, debenture stock, bonds or other securities of any company engaged in the State in the generation, distribution or supply of energy, or the manufacture therein of electrical equipment, and includes any share or interest in any unincorporated undertaking similarly engaged.