Section 48: Qualifications of directors

48. Qualifications of directors (1) No person shall be eligible to serve as a director or remain a director if he— (a) is under the age of 18; (b) is involved, directly or indirectly, in any activity which is in conflict with, or is likely to be prejudicial to, the activities of the society; (c) has been convicted of an offence involving fraud, dishonesty, drug trafficking or financial malpractice; (d) is an undischarged bankrupt; (e) has been convicted of an offence under this Act; (f) has been found to have misused, mismanaged or misappropriated the funds of a society; (g) has previously, as director of a society, misused, mismanaged or misappropriated its funds; or (h) is in arrears with the repayment of a loan from, or any amount due to, a society. (2) Where a director has any interest, direct or indirect, in any matter before the Board, he shall, as soon as reasonably practicable, disclose to the Board the nature of his interest, and shall not take any part in the deliberation of the Board relating to that matter. (3) Subsection (1) (a) shall not apply in relation to a school society.