Trustee Savings Banks Act, 1989

Disqualification for being a trustee of a trustee savings bank.

19.—(1) A person who—

(a) is adjudicated bankrupt,

(b) makes a composition or arrangement with creditors,

(c) was at any time personally liable pursuant to section 22 in respect of his conduct in the carrying out of his duties as a trustee of a trustee savings bank,

(d) is sentenced to imprisonment for a term of not less than 6 months, or

(e) is convicted of an offence involving fraud or dishonesty,

shall be disqualified for being a trustee of a trustee savings bank.

(2) A trustee of a trustee savings bank who—

(a) is adjudicated bankrupt,

(b) makes a composition or arrangement with creditors,

(c) is personally liable pursuant to section 22 in respect of his conduct in the carrying out of his duties as such a trustee,

(d) is sentenced to imprisonment for a term of not less than 6 months, or

(e) is convicted of an offence involving fraud or dishonesty,

shall forthwith become and be disqualified for being such a trustee.