Section 72

A person shall not be eligible for appointment as a director of a company if he is less than eighteen years of age or is of unsound mind and stands so declared by a competent court. A person shall not be eligible for appointment as a director of a company if he is convicted by a court of any offence involving moral turpitude and a period of five years has not elapsed since his release. A person shall not be eligible for appointment as a director of a company if he has at any time been convicted by a court of any offence punishable with imprisonment for a term of two years or more and a period of five years has not elapsed since his release. A person shall not be eligible for appointment as a director of a company if he has at any time been adjudged insolvent. A person shall not be eligible for appointment as a director of a company if he has been found to be of unsound mind by a competent court and has not been restored to sanity. A person shall not be eligible for appointment as a director of a company if he has been convicted of any offence concerning a company or any other body corporate and a period of five years has not elapsed since his release.