Section 13Section 13

s. 13

13 (1) No person shall be or shall continue to be a Director- [ (a) who is a Member of the Legislature or a local Government; or (b) who has defaulted in payment of dues of the Government or of any banking company or any financial institution; or] (c) who is, or at any time has been, adjudicated an insolvent or has suspended payment or has compounded with his creditors; or (d) who is found lunatic or becomes of unsound mind; or (e) who is an officer or employee of any [ banking company] or any financial institution; or (f) who is a Director of [ any banking company or financial institution], but he shall not be disqualified or cease to be a Director if he is a Director of a bank which is a society registered under the [ সমবায় সমিতি আইন, ২০০১ (২০০১ সনের ৪৭ নং আইন)] or any other law for the time being in force relating to co-operative societies; or (g) who absents himself from three consecutive meetings of the Board, without leave from the Board; [ or (h) who has been convicted of an offence involving moral turpitude or has been sentenced by a court for a term of imprisonment exceeding one year.] (2) Nothing in sub-clause (b) of clause (1) of this Article shall apply to the Government official nominated as Director under sub-clause [ (d)] of clause (3) of Article 9.

1. 36. Sub-clauses (a) and (b) were substituted by section 9 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
2. 37. The words “banking company” were substituted for the word “bank” by section 9 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
3. 38. The words “any banking company or financial institution” were substituted for the words “any bank other than the Bank” by section 9 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
4. 39. The words, comma, figures and brackets [সমবায় সমিতি আইন, ২০০১ (২০০১ সনের ৪৭ নং আইন)] were substituted for the words, comma and figures “Co-operative Societies Act, 1912” by section 9 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
5. 40. The word “or” and sub-clause (h) were added by section 9 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
6. 41. The brackets and letter “(d)” were substituted for the brackets and letter “(c)” by section 5 of the Bangladesh Bank (Amendment) Ordinance, 1976 (Ordinance No. LVI of 1976)