i— A board member of a public organization or entity shall not, in his personal capacity or on behalf of a third party, be a board member of a joint-stock company or act as a manager thereof or undertake permanent or occasional work or consultancy for it if one of its objectives is to exploit any public utility that exists in the jurisdiction of the board of which he is a member, or that is linked with it by a contract of public works or monopoly.

ii— The member shall be deemed resigned from the company as soon as he is elected to the board. The defaulter shall refund what he has received from the company to the State's treasury.