ADVOKS GLOBAL · KENYA
Agricultural Finance Corporation Act
5. Disqualification of Director
Edition: 2022-12-31 · Repealed
5. Disqualification of Director
(1)No person shall be appointed a Director if—(a)he is insolvent or has conveyed or assigned his property for the benefit of his creditors generally or has made a composition or arrangement with his creditors; or(b)he is of unsound mind or has been convicted within the preceding five years of an offence and sentenced to imprisonment without the option of a fine.(2)If the Cabinet Secretary is satisfied that the Chairperson, the deputy Chairperson or any other Director appointed under paragraph (a) of subsection (2) of section 4 of this Act—(a)is incapacitated by physical or mental illness; or(b)has become subject to any of the disqualifications specified in subsection (1) of this section; or(c)has been absent from two consecutive meetings of the Board without the leave of the Board; or(d)is otherwise unable or unfit to discharge the functions of his office,the Cabinet Secretary may declare his office as Chairperson, deputy Chairperson or Director, as the case may be, to be vacant, and shall notify the fact in such manner as the Cabinet Secretary thinks fit; and thereupon the office shall become vacant.(3)If the Chairperson, the deputy Chairperson and any other Director to whom subsection (2) of this section applies—(a)at any time, by notice in writing under his hand addressed to the Cabinet Secretary, resigns his office as such;(c)is declared under that subsection to have vacated his office,the Cabinet Secretary shall appoint a new Director to discharge the functions of that office:Provided that where the vacancy to be filled is in the office of Chairperson or deputy Chairperson the Cabinet Secretary shall consult the Cabinet Secretary for the time being responsible for finance before exercising such power of appointment.