7. (1) A person shall not be eligible for nomination or appointment as a member of the Board, if he-

(a) has been adjudged by a competent Court to be of unsound mind;

(b) is an undischarged insolvent;

(c) being a discharged insolvent, has not obtained from the Court a certificate that his insolvency was caused by misfortune without any misconduct on his part; or

(d) has been convicted by a Court of an offence involving moral turpitude, unless an offence of which he was convicted has been pardoned or unless five years have elapsed since the date of his conviction.

(2) The nomination or appointment of a person who is, on the date of his nomination or appointment, subject to any of the disqualifications specified in sub section (1) shall be invalid.

(3) If a nominated or appointed member of the Board becomes after his nomination or appointment, subject to any of the disqualifications specified in sub section (1), his membership shall thereupon cease.