Article 297 — Requirements to Qualify as a Director

1/ To qualify for board membership a person shall meet the following requirements: a) minimum age specified by a memorandum of association or law, if any; b) be of good moral character; c) no record of conviction of breach of trust, theft, robbery or other similar criminal offenses while serving as a promoter, director, manager, member of supervisory board or auditor or holding any other managerial position or under any other circumstance; d) compliance with other requirements set by the memorandum of association or another law, if any. 2/ A director shall be dismissed from his position where it is proven that he used his powers in a way that causes conflict of interest with that of the company and directly or indirectly obtained undue benefit. 3/ Without prejudice to the provisions of Sub-Article (1) (c) of this Article, a director who has committed the fault under Sub-Article (2) of this Article shall be barred from serving as a director of any business organization for two years commencing from the date of the establishment of the fault.