s 10 Disqualification of directors
10.—(1) No person may be appointed as or remain a director of the Authority who is a director or salaried official of any financial institution licensed or approved by the Authority under any written law. (2) The President may terminate the appointment of any director appointed under section 8(1) if the director —(a) resigns his or her office; (b) has a mental disorder and becomes incapable of managing himself or herself or his or her affairs; (c) becomes bankrupt or suspends payment to or compounds with his or her creditors; (d) is convicted of an offence involving dishonesty or fraud or moral turpitude; (e) is guilty of serious misconduct in relation to his or her duties; (f) is absent, without leave, from 3 consecutive meetings of the board; or (g) fails to comply with his or her obligations under section 13.[21/2008]