s 29 Director, controller or manager of the Bank to be fit and proper person
(1) Every person who is, or is to be, a director, controller or manager of the Bank shall be a fit and proper person to hold the particular position which he holds or is to hold. (2) In determining whether a person is a fit and proper person to hold any particular position, the Bank shall have regard to his probity, competence and soundness of judgment for fulfilling the responsibilities of that position, to the diligence with which he is fulfilling or likely to fulfil those responsibilities and as to whether the interests of depositors or potential depositors, if any, of the Bank are, or are likely to be, in any way threatened by his holding that position. (3) Without prejudice to the generality of subsection (2), the Bank may have regard to the previous conduct and activities in business or financial matters of the person in question and, in particular, to any evidence that— (a) he has committed an offence involving fraud or other dishonesty or violence; (b) he has contravened any provision made by or under any written law appearing to the Minister to be designed for protecting members of the public against financial loss due to dishonesty, incompetence or malpractice by persons concerned in the provision for banking, insurance, investment or other financial services or the management of companies or against financial loss due to the conduct of discharged or undischarged bankrupts; (c) he has engaged in any business practices appearing to the Minister to be deceitful or oppressive or otherwise improper (whether unlawful or not) or which otherwise reflect discredit on his method of conducting business; or (d) he has engaged in or been associated with any other business practices or otherwise conducted himself in such a way as to cast doubt on his competence and soundness of judgement.