7.—A person shall not be eligible for membership of the Council if—

( a ) he is for the time being entitled under Standing Orders of either House of the Oireachtas to sit therein,

( b ) he is an undischarged bankrupt,

( c ) within the immediately preceding period of three years he has, under the protection or procedure of a court, made a composition or arrangement with his creditors,

( d ) within the immediately preceding period of five years he has been sentenced to a term of imprisonment by a court of competent jurisdiction.