A person shall not be capable of being nominated or elected as a trustee if-(a)he is, except in the case of the Chairman or the executive trustee, an officer or other employee of the Trust; or(b)he is, or at any time has been, adjudicated as insolvent or has suspended payment of his debts or has compounded with his creditors; or(c)he is of unsound mind and stands so declared by a competent court; or(d)he has been convicted of an offence which, in the opinion of the [Development Bank] [Substituted by Act 52 of 1975, Section 50, for "Reserve Bank" (w.e.f. 16-2-1976)], involves moral turpitude.
