5. Disqualifications for empanelment.

A person shall be disqualified for being empanelled as mediator or conciliator, if he -

(a) is an undischarged insolvent or has applied to be adjudicated as an insolvent and his application is pending ;

(b) has been convicted for an offence which, in the opinion of the Central Government, involves moral turpitude ;

(c) has been removed or dismissed from the service of the Government or the Corporation owned or controlled by the Government ;

(d) has been punished in any disciplinary proceeding, by the appropriate disciplinary authority ; or

(e) has, in the opinion of the Central Government, such financial or other interest in the subject matter of dispute or is related to any of the parties, as is likely to affect prejudicially the discharge by him of his functions as a mediator or conciliator.