Disqualification for Director

A person shall be disqualified for being nominated as a Director of the Corporation, if he— (a) Is an employee of the Corporation, not being the Managing Director, or (b) Is of unsound mind, and stands so declared, by a competent court, or (c) Is an undischarged insolvent, or (d) Is convicted of an offence involving moral turpitude within a period of five years immediately before his being nominated as Director.