Companies Act, 2017 — section 153

153. Ineligibility of certain persons to become director..—A person shall not be eligible for appointment as a director of a company, if he

(a)is a minor;

(b)is of unsound mind;

(c)has applied to be adjudicated as an insolvent and his application is pending;

(d)is an undischarged insolvent;

(e)has been convicted by a court of law for an offence involving moral turpitude;

(f)has been debarred from holding such office under any provision of this Act;

(g)is lacking fiduciary behaviour and a declaration to this effect has been made by the Court under section 212 at any time during the preceding five years;

(h)does not hold National Tax Number as per the provisions of Income Tax Ordinance, 2001 (XLIX of 2001): Provided that the Commission may grant exemption from the requirement of this clause as may be notified.

(i)is not a member: Provided that clause (i) shall not apply in the case of,

(i)a person representing a member which is not a natural person;

(ii)a whole-time director who is an employee of the company;

(iii)a chief executive; or

(iv)a person representing a creditor or other special interests by virtue of contractual arrangements;

(j)has been declared by a court of competent jurisdiction as defaulter in repayment of loan to a financial institution;

(k)is engaged in the business of brokerage, or is a spouse of such person or is a sponsor, director or officer of a corporate brokerage house: Provided that clauses (j) and (k) shall be applicable only in case of listed companies.