A member of the Board who is appointed under section 22(2)(d) and (e) is disqualified from being a member of the Board if he or she is —
(a) engaged directly or indirectly or has an actual or contingent pecuniary interest in a company, firm or other entity that is regulated by the Authority;
(b) declared by a court to be a bankrupt;
(c) declared by a court to be physically or mentally incapacitated by reason of unsoundness of mind;
(d) convicted of a criminal offence, except where the offence is a minor traffic offence or has been spent in accordance with the Criminal Records (Rehabilitation of Offenders) Act; or
(e) convicted of a criminal offence under this Act or another enactment.