(1) A scheme shall have at all times high calibre directors, principal officers and expert technical and professional staff and shall maintain the standards prescribed or determined by the Board.

(2) Without prejudice to subsection (1), a person does not qualify to be a director, manager, secretary or any other officer of a health insurance scheme if that person

(a) is certified by a medical practitioner to be a person suffering from mental disorder,

(b) is adjudged or otherwise declared bankrupt by a Court,

(c) compounds with the creditors, or

(d) is convicted by a Court of an offence involving fraud or dishonesty.

(3) Except with the express authority of the. Board, a person who has participated in the management or direction of an insurance company which has been wound up pursuant to an6rder of a Court, shall not participate in the management .or direction of a health insurance scheme.