Paragraph 21 Disqualification for holding office: bankruptcy etc.
Subject to the following provisions of this paragraph, a person shall be disqualified for holding, or for continuing to hold, office as a governor of the School if he has been adjudged bankrupt or has made a composition or arrangement with his creditors; and a governor, on becoming so disqualified, shall give written notice of that fact to the Clerk to the Governing Body.
Where a person is disqualified by reason of his having been adjudged bankrupt, that disqualification shall cease —
on his discharge from bankruptcy; or
if the bankruptcy order is previously annulled, on the date of the annulment.
Where a person is disqualified by reason of his having made a composition or arragement with his creditors and he pays his debts in full, the disqualification shall cease on the date on which the last such payment is made and in any other case it shall cease on the expiration of three years from the date on which the terms of the deed of composition or arrangement are fulfilled.