(1) Where the Governor or a Director of the Central Bank of Ireland is nominated, with his consent, as a candidate for election to either House of the Oireachtas or is nominated as a member of Seanad Éireann, he shall thereupon cease to be such Governor or Director.
(2) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein shall, while so entitled, be disqualified from being or becoming the Governor or a Director of the Central Bank of Ireland.