(1) Where a person who is the chairperson or an ordinary member of the Authority is -
(a) nominated as a member of Seanad Éireann,
(b) elected as a member of either House of the Oireachtas or to the European Parliament, or
(c) regarded pursuant to section 19 of the European Parliament Elections Act, 1997, as having been elected to the European Parliament to fill a vacancy,
the person shall thereupon cease to be chairperson or an ordinary member of the Authority.
(2) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein or who is a member of the European Parliament shall, while so entitled or such a member, be disqualified from becoming chairperson or an ordinary member of the Authority.
(3) A person who is a member of the Authority shall be disqualified from holding and shall cease to hold office if that person is adjudged bankrupt or makes a composition or arrangement with creditors or, on conviction on indictment