Housing Development Finance Corporation of Sri Lanka Act (No. 7 of 1997)

Sri Lanka Consolidated Acts

Qualifications to be a director

(1) No person shall be qualified to be elected as a director under subsection (4) of section 3 unless -

	(a) he has ; or

	(b) he is the director or officer of a body corporate which has,

(2) A person shall be disqualified from being nominated, appointed or elected, as a director or continuing in office as a director if-

	(a) he is, or becomes a Member of Parliament, a member of a Provincial Council or a member of a local authority ;

	(b) he is, or becomes, an officer or servant of the Corporation ;

	(c) he, being a person who has been declared an insolvent or bankrupt under any law in force in Sri Lanka or in any other country, is an undischarged insolvent or bankrupt;

	(d) he is found or declared to be, of unsound mind under any law in force in Sri Lanka or in any other country;

	(e) he has served, or is serving, a sentence of imprisonment, imposed by a Court in Sri Lanka or any other country.