Section 13: Disqualifications of the Governor, Deputy Governors, Directors and members

2[13. Disqualifications of the Governor, Deputy Governors, Directors and members.⸺ No person shall be or shall continue to be the Governor, a non-executive Director, an external member of Monetary Policy Committee and a Deputy Governor, who⸺ (a) is a member of the Parliament or a Provincial Assembly or a Local Government or having dual Nationality; (b) is employed in any capacity in the public service of Pakistan or of any Province of Pakistan or any statutory body except the Bank or holds any office or position for which any salary or other remuneration is payable from public funds, except for engagement in educational work or senior executives of the Bank; (c) is or has been convicted of a serious criminal offense, money laundering, fraud or economic crime; (d) is, or at any time has been an undischarged insolvent; or has suspended payment or has compounded with the creditors; (e) is found to be permanently physically or mentally unable to perform the duties; (f) is a Director, officer or employee of any other bank or an entity regulated by the Bank; (g) is a shareholder of any bank or an entity regulated by the Bank; (h) is a member of any political party; (i) due to age is not able to complete the full term of appointment; or (j) absents themselves from three consecutive meetings of the Board or Monetary Policy Committee without leave from the Board or Monetary Policy Committee, as the case may be.] 1S. 12 omitted by the State Bank of Pakistan (Amendment) Act, 2015 (XVIII of 2015), s. 13

Effective date: 1956-04-18

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