Disqualifications to be a Director

(1) No person shall be appointed or remain a Director who– (a) is a member of the National Assembly; or (b) is a director, officer or other employee of a licensed bank or licensed financial institution. (2) The Governor-General may terminate the appointment of the Governor and the Minister may terminate the appointment of a Deputy Governor or any other Director only if the Governor, Deputy Governor or such Director, as the case may be– (a) by writing under his hand addressed to the person who appointed him resigns his office; (b) becomes subject to any of the disqualifications specified in sub-section (1); (c) becomes bankrupt or insolvent, compounds with his creditors or benefits under the law for the relief of a bankrupt or makes any assignment in whole or in part of his income for the benefit of such creditors; (d) is convicted of an offence involving dishonesty; (e) becomes totally or permanently incapable of performing his duties, 17 is guilty of gross misconduct. (3) The Minister may terminate the appointment of a Director of the Board referred to in section 11 (1) (b), who absents himself from three consecutive meetings of the Board without leave from the Board. (4) The names of all members of the Board as first constituted, their terms of office and every change in the membership shall be published in the Gazette.