Disqualification of members of the LGB Clause Samples

The 'Disqualification of members of the LGB' clause defines the circumstances under which individuals are prohibited from serving as members of the Local Governing Body (LGB). Typically, this clause outlines specific criteria such as criminal convictions, bankruptcy, conflicts of interest, or breaches of governance standards that would render a person ineligible or require their removal from the LGB. By clearly specifying these disqualifying factors, the clause helps maintain the integrity and effective functioning of the governing body, ensuring that only suitable and trustworthy individuals participate in its decision-making processes.
Disqualification of members of the LGB. 5.6.1 No person shall be qualified to serve on the LGB unless they are aged 18 or over at the date of their election or appointment. No current pupil or student of the Academy shall be entitled to serve on the LGB. 5.6.2 A person serving on the LGB shall cease to hold office if they become incapable by reason of illness or injury of managing or administering their own affairs. 5.6.3 A person serving on the LGB shall cease to hold office if they are absent without the consent of the Chair of the LGB from three consecutive full meetings of the LGB and the LGB resolves that their office be vacated. 5.6.4 A person shall be disqualified from serving on the LGB if: 5.6.4.1 Their estate has been sequestrated and the sequestration has not been discharged, annulled or reduced; or 5.6.4.2 They are subject of a bankruptcy restrictions order or an interim order. 5.6.5 A person shall be disqualified from serving on the LGB at any time when they are subject to a disqualification order or a disqualification undertaking under the Company Directors Disqualification Act 1986 or to an order made under section 429(2)(b) of the Insolvency Act 1986 (failure to pay under county court administration order). 5.6.6 A person serving on the LGB shall cease to hold office if they would cease to be a director by virtue of any provision in the Companies Act 2006 or is disqualified from acting as a trustee by virtue of section 178 of the Charities Act 2011 (or any statutory re-enactment or modification of that provision). 5.6.7 A person shall be disqualified from serving on the LGB if they have been removed from the office of charity trustee or trustee for a charity by an order made by the Charity Commission or the High Court on the grounds of any misconduct or mismanagement in the administration of the charity for which they were responsible or to which they were privy, or which by their conduct contributed to or facilitated. 5.6.8 A person shall be disqualified from serving on the LGB where they have, at any time, been convicted of any criminal offence, excluding any that have been spent under the Rehabilitation of Offenders Act 1974 as amended, and excluding any offence for which the maximum sentence is a fine or a lesser sentence except where a person has been convicted of any offence which falls under section 178 (persons disqualified from being charity trustees or trustees of a charity) of the Charities Act 2011. 5.6.9 After the Academy has opened, a person shall be disqualified fr...
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Related to Disqualification of members of the LGB

  • Disqualification of S-1 Until the earlier of seven years from the date hereof or until the Warrants have either expired and are no longer exercisable or have all been exercised, the Company will not take any action or actions that prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the registration of the shares of Common Stock issuable upon exercise of the Warrants under the Act.

  • Disqualification The Adviser shall immediately notify the Trustees of the occurrence of any event which would disqualify the Adviser from serving as an investment adviser of an investment company pursuant to Section 9 of the 1940 Act or any other applicable statute or regulation.

  • No Disqualification Events With respect to the Securities to be offered and sold hereunder in reliance on Rule 506 under the Securities Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder.

  • Powers of the Member Pursuant to Section ▇▇-▇▇-▇▇▇ of the Act, the Member is authorized: (a) to make all decisions regarding the Company’s operations and legal affairs, including but not limited to: i. the sale, development, lease, or other disposition of the Company's assets; ii. the purchase or acquisition of other assets; iii. the management of all or any part of the Company's assets; iv. the borrowing of money and granting of security interests in the Company's assets; v. the pre-payment, refinancing, or extension of any loan affecting the Company's assets; vi. the compromise or release of any of the Company's claims or debts; and vii. the employment of persons, firms, or corporations for the operation and management of the Company's business; and (b) to execute and deliver: i. all contracts, conveyances, assignments, leases, sub-leases, franchise agreements, licensing agreements, management contracts, and maintenance contracts covering or affecting the Company's assets; ii. all checks, drafts, and other orders for the payment of the Company's funds; iii. all promissory notes, loans, security agreements and other similar documents; and iv. all other instruments of any kind relating to the Company's business and affairs.

  • Disqualification of Form S-1 For a period equal to seven (7) years from the date hereof, the Company will not take any action or actions which may prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the registration of the Warrants under the Act.