4U.K.A person may be removed from office as chairman, deputy chairman or other member only if—
(a)he has been [F1made] bankrupt,[F2has had a debt relief order made in respect of him (under Part 7A of the Insolvency Act 1986),] has had his estate sequestrated or has made a composition or arrangement with, or granted a trust deed for, his creditors; or
(b)he is failing to carry out the duties of his office or is otherwise unable or unfit to carry out those duties.
Textual Amendments
F1Word in Sch. 1 para. 4(a) substituted (6.4.2016) by The Enterprise and Regulatory Reform Act 2013 (Consequential Amendments) (Bankruptcy) and the Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) Regulations 2016 (S.I. 2016/481), reg. 1, Sch. 1 para. 18
F2Words in Sch. 1 para. 4(a) inserted (1.10.2012) by The Tribunals, Courts and Enforcement Act 2007 (Consequential Amendments) Order 2012 (S.I. 2012/2404), art. 1, Sch. 2 para. 43 (with art. 5)