Indigenisation and Economic Empowerment Act updated as at 8th May 2015 23 Transfer of employees of National Investment Trust to Board and conditions of service of transferred employees (1) With effect from the transfer date every person employed by the National Investment Trust immediately before that date shall, with his or her consent, be transferred to the service of the Board on terms not less favourable than those enjoyed by him or her immediately prior to his or her transfer. (2) Until such time as conditions of service are drawn up by the Board, the terms and conditions of service applicable to employees of the National Investment Trust shall continue to apply to every employee transferred to the Board as if every such person were still in the service of the National Investment Trust. FIRST SCHEDULE (Section 7(3)) PROVISIONS APPLICABLE TO BOARD AND COMMITTEES Paragraph 1. Disqualification for appointment as member. 2. Terms and conditions of office of members. 3. Vacation of office by appointed members of Board. 4. Suspension of members. 5. Filling of vacancies of Board. 6. Meetings and procedure of Board. 7. Committees of Board. 8. Minutes of proceedings of Board and committees. 9. Validity of decisions and acts of Board and committees. Disqualification for appointment as member 1.(1) Subject to this Act, a person shall not be qualified for appointment as a member if— (a) he or she not is a citizen of Zimbabwe ordinarily resident in Zimbabwe; or (b) he or she has, in terms of a law in force in any country— (i) been adjudged or otherwise declared insolvent or bankrupt and has not been rehabilitated or discharged; or (ii) made an assignment or composition with his or her creditors which has not been rescinded or set aside; or (c) within the period of five years immediately preceding his or her proposed appointment, he or she has been sentenced in any country by a competent court to a term of imprisonment imposed without the option of a fine, whether or not any portion thereof has been suspended, and has not received a free pardon; or (d) he or she is a member of Parliament; or (e) he or she is absent without leave from three consecutive meetings of the Board. (2) A person shall not be qualified for appointment as a member, nor shall he or she hold office as a member, if he or she is a member of two or more other statutory bodies. - 17 -