(1) Where a member of the Board becomes disqualified under section 3(4), that member shall in writing submitted to the Minister, immediately resign from the membership of the Board.
(2) A member of the Board who fails to comply with subsection (1), commits an offence and upon summary conviction is liable—
(a) in the case of disqualification under section 3(4)(a); or
(b) to a fine which amounts to twice the financial gain which he or she would reasonably be expected to receive and to revocation of his or her appointment as a member of the Board;
(c) in any other case to a fine not exceeding $1,000 or to imprisonment for a term not exceeding 3 months and to revocation of his or her appointment as a member of the Board.
(3) A member of the Board may, for any reason other than disqualification under section 3(4), resign from the membership of the Board by giving at least 3 months notice in writing to the Minister of his or her resignation.