You said that we can be a full time or part time employee in business concern also provided we have substantial interest interest. in that clause only you said that in 6th. Point part time director we can become is this applicable there also
For Part Time / Full Time Job
Job under CA / CA Firm in Practice — General Permission
Job with non business entity — Specific Permission
Job with business entity — Specific Permission + No Substantial Interest
Now about directorship.
Part Time Director / Director Simplicitor / Non Executive Director — No Permission as allowed in clause 11 + he himself or Partner should not be auditor
Managing Director — Specific Permission