(1) A scheme shall have at all times high calibre directions, principal officers and expert technical and professional staff and shall maintain such standards as may from time to time be prescribed or as may be directed by the Council.

(2) Without prejudice to subsection (1) a person does not qualify to be a director, manager, secretary or other officer of a health insurance scheme if the 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 his or her creditors; or

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

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