Section 15C: Seat Not to Retain

The seat of any member of the Accounting Standards Board shall not be retained under any of the following conditions:

(a) If resigned,

(b) If one remained absent for three consecutive board meetings without any information,

(c) If convicted and penalised by the court for a criminal offence,

(d) If declared insane,

(e) If declared insolvent,

(f) If dead,

(f) In case of members of the Institute, if the name is removed from the Membership Register pursuant to Section 22 of the Act.