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(1) No person shall be qualified to be the Chairman of the Board who-

(a) has been sentenced to death or to a term of imprisonment exceeding twelve months without the option of a fine or has been convicted of an offence involving dishonesty or moral turpitude, and has not in each case been granted a free pardon; or

(b) has been declared an insolvent or a bankrupt under any law for the time being in force in Ghana or any other country is an undischarged insolvent or bankrupt; or

(c) is adjudged to be a person of unsound mind.

(2) The Chairman shall be appointed by the Supreme Military Council and shall hold office on such terms and conditions as the Council may determine.

(3) In the event of the resignation or death of the Chairman a new Chairman shall be appointed to hold office for a period not exceeding two years, but shall be eligible for re-appointment.