Qualifications and disqualifications of Directors
13. (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 which, in the opinion of the Government, is an offence involving moral turpitude; or
(b) is a minor; or
(c) stands declared by a competent court to be of unsound mind; or
(d) is or at any time has been adjudicated an insolvent or has suspended payment or compounded with his creditors; or
(e) absents himself from three consecutive meetings of the Board without leave of absence granted by the Chairman or, in the case of the Chairman, by the Government; or
(f) has any financial or other interest in any industrial concern financed by the Corporation which is likely to affect prejudicially his functions as a Director; or
(g) is or becomes a salaried employee of any industrial concern financed by the Corporation; or
(h) in the case of an elected Director, ceases to hold in his own name or in the name of the institution he represents the minimum number of shares required to qualify him for election.
(2) No person shall be elected or qualified for election as Director who does not hold in his own name or in the name of the institution he represents unencumbered shares of the Corporation of the nominal value of Taka twenty-five thousand.