# The Foundation Body Regulations 1999, Paragraph 1: Bankruptcy


A person shall be disqualified for holding, or continuing to hold, office as a member of a foundation body if–
(a) he has been adjudged bankrupt or sequestration of his estate has been awarded and (in either case) he has not been discharged;
(b) he has made a composition or arrangement with, or granted a trust deed for, his creditors and has not been discharged in respect of it.

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Source: https://www.legislation.gov.uk/uksi/1999/1502/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/foundation-body-regulations-1999/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.