(Section 11 (4))

1. The following persons shall be disqualified from being appointed or
being a member of the Investment Panel:

(a) a person who has been convicted of an offence involving fraud,
dishonesty or moral turpitude;

(b) a bankrupt; and

(c) a person of unsound mind or is otherwise incapable of discharg-
ing his duties.

2. A member of the Investment Panel shall cease to be a member—

(a) if he fails to attend three consecutive meetings of the Investment
Panel without leave of the Chairman of the Investment Panel;

or

(b) if his appointment is revoked by the Minister, in the case of
a person appointed under section 11 (2) (f).

3. A member appointed by the Minister under section 11 (2) (f) may
resign as a member of the Investment Panel by giving one month's notice
in writing to the Minister.

4. If any member of the Investment Panel has any beneficial interest
in any matter under consideration by the Investment Panel, he shall
forthwith declare to the Chairman the nature and extent of his interest
in such matter and the Investment Panel shall decide whether or not he
may take part in the meeting of the Investment Panel when such matter
is being considered, notwithstanding his interest in such matter.

5. (1) The Investment Panel shall meet as and when required to do so
by the Chairman of the Investment Panel.

(2) The Chairman of the Investment Panel and three other members
of the Investment Panel shall form a quorum at any meeting of the
Investment Panel.

6. A member of the Investment Panel may be paid such allowances for
attending meetings of the Investment Panel as may be determined by the
Council with the approval of the Minister.