Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part II · Consumer Credit Commission
19. Disqualification of members of Board and Board Committee
Feedback & supportNo person shall be appointed, or shall remain, as a member of the Board or Board Committee if—
person
“person” includes an individual, any sole proprietorship, corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
he is or becomes a member of the Senate or House of
Representatives or any Legislative Assembly;
he is or becomes an officer, director or partner, of a credit provider or credit service provider;
director
“director” has the meaning assigned to it in the Companies Act 2016, and includes a reference to a person occupying or acting in the position of a director of a corporation, by whatever name called and whether or not validly appointed to occupy, or duly authorized to act in, such position;
he is or becomes an office bearer of, or he holds any similar office or position in a political party;
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there has been proven against him, or he has been convicted on, a charge in respect of—
an offence involving fraud, dishonesty, violence or moral turpitude;
an offence under any law relating to corruption;
or
any other offence punishable with imprisonment
(in itself only or in addition to or in lieu of a fine) for more than two years;
his conduct, whether in connection with his functions as a member of the Board or otherwise, has been such as to bring discredit on or disrepute to the Commission;
Board
“Board” means the board of directors of the Commission referred to in section 9;
he is or becomes a bankrupt, or suspends payment or compounds with his creditors;
he is or becomes of unsound mind or is otherwise incapable of performing his functions; or
he is or becomes involved in any activity which may interfere with his independence in performing his functions.