Disqualifications, removal and transfer of Chairman and Directors
7. (1) No person shall be or shall continue to be a Director who-
(a) is or has at any time been convicted of an offence involving moral turpitude; or
(b) is or has or at any time been adjudicated an insolvent; or
(c) is found a lunatic or of unsound mind; or
(d) is or has at any time been disqualified for employment in, or dismissed from the service of the [Republic]; or
(e) is a minor.
(2) The Government may, by order in writing, remove the Chairman or a Director if he-
(a) refuses or fails to discharge or becomes, in the opinion of the Government, incapable of discharging his responsibilities under this Ordinance; or
(b) has, in the opinion of the Government, abused his position as Chairman or Director; or
(c) has knowingly acquired or continued to hold without the permission in writing of the Government, directly or indirectly, or through a partner, any share or interest in any contract or employment with or by or on behalf of the Corporation or in any land or property which, in his knowledge, is likely to benefit or has benefited as a result of the operations of the Corporation; or
(d) has absented himself from three consecutive meetings of the Board without the leave of the Government in the case of Chairman or of the Chairman in the case of a Director.
(3) A Government servant appointed as the Chairman or a Director shall automatically cease to be the Chairman or a Director, as the case may be, on his transfer, in the interest of public service, from the Corporation.