Disqualification for being Director

A person shall be disqualified for being nominated as a Director of the Board,—

1. (a) is an employee of the Corporation, not being the Managing Director; or
2. (b) is of unsound mind and stands so declared by a competent court;
3. (c) is an un-discharged insolvent; or
4. (d) has a subsisting contract with the Corporation.