- If a director of a subsidiary bank—

(a) is, or has become, subject to any of the disqualifications mentioned in section 27; or

(b) resigns his office by giving notice in writing under his hand, in the case of a nominated director to the State Bank, and in the case of an elected director to the Board of Director of the subsidiary bank, and his registration is accepted; or

(c) is absent without leave of the Board of Directors for more than three consecutive meetings thereof;