(1) A person shall not be appointed or remain as a Director who is a member of the Parliament of Saint Lucia.
(2) The National Insurance Board may after consultation with the Minister terminate the appointment of the Chairperson or any other Director only if the Chairperson or the Director as the case may be—
(a) by writing under his or her hand addressed to the National Insurance Board, resigns his or her office;
(b) becomes subject to disqualification specified in subsection (1);
(c) becomes bankrupt or insolvent, compounds with his or her creditors, or benefits under the law for the relief of a bankrupt, or makes any assignment in whole or in part of his or her income for the benefit of such creditors;
(d) is convicted of an offence involving dishonesty or any other offence punishable with imprisonment whether or not the convicted person is awarded such sentence;
(e) becomes totally or permanently incapable of performing his or her duties;
(f) is guilty of misconduct;
(g) absents himself or herself from 3 consecutive meetings of the Board without leave of the Board.
(3) The names of all members of the Board as first constituted, their terms of office and every change in the membership shall be published in the Gazette.