Amendment status not verified — confirm the current text below against the official source.
(1) No person shall be chosen as, or continue to be, a director of the Board who— (a) is a salaried officer of the Board; or (b) is or at any time has been adjudged insolvent; or (c) is found to be a lunatic or becomes of unsound mind; or (d) is or has been convicted of any offence involving moral turpitude. (2) The Government may remove from office any director, who— (a) is or has become subject to any of the disqualifications mentioned in sub-section (1); or (b) is absent without leave of the Board for more than three consecutive meetings of the Board. (3) A director other than an ex-officio director of the Board removed under clause (a) of sub-section (2) shall be disqualified for re-nomination as a director of the Board for a period of three years from the date of his removal, unless otherwise ordered by the Government. (4) A director other than an ex-officio director of the Board removed under clause (b) of sub-section (2) shall not be eligible for re-nomination until he is declared by an order of the Government to be no longer ineligible.