A person shall be disqualified for being chosen as or for being a member of the Corporation, the Standing Committee or the Medical Benefit Council--
(a) if he is declared to be of unsound mind by a competent court; or
(b) if he is an undischarged insolvent; or
(c) if he has directly or indirectly by himself or by his partner any interest in a subsisting contract with, or any work being done for, the Corporation except as a medical practitioner or as a shareholder (not being a Director) of a company; or
(d) if before or after the commencement of this Act, he has been convicted of an offence; involving moral turpitude.