Section 9Part 0 —
Disqualification and termination of appointment
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A person shall not be appointed as or remain a director who is an elected member of the Legislative Assembly or an official member of the Cabinet.
The Cabinet shall terminate the appointment of any director appointed pursuant section 6(2)(d) who —
(a) resigns that person’s office;
(b) becomes of unsound mind or incapable of carrying out that person’s duties;
(c) becomes bankrupt, suspends payment to or compounds with that person’s creditors;
(d) is convicted in the Islands or in any other jurisdiction of an offence involving dishonesty, fraud or any indictable offence;
(e) commits serious misconduct in relation to that person’s duties;
(f) is absent, without leave of the Chairperson, from three consecutive meetings of the Board; or
(g) fails to comply with that person’s obligations under section 12.
resigns that person’s office;
becomes of unsound mind or incapable of carrying out that person’s duties;
becomes bankrupt, suspends payment to or compounds with that person’s creditors;
is convicted in the Islands or in any other jurisdiction of an offence involving dishonesty, fraud or any indictable offence;
commits serious misconduct in relation to that person’s duties;
is absent, without leave of the Chairperson, from three consecutive meetings of the Board; or
fails to comply with that person’s obligations under section 12.
The Cabinet may, in the public interest, terminate the appointment of any director.
Cross References
- Section 6 of Auditors Oversight Law
Composition of Board
- Section 12 of Auditors Oversight Law
Declaration of interest