(1)The articles of association must provide that—
(a)the period of a non-executive director’s appointment is to be a period, not exceeding 5 years, specified by the Scottish Ministers when making the appointment,
(b)a person may be appointed to the office of non-executive director more than once,
(c)no person may hold the office of non-executive director for a cumulative period exceeding 8 years.
(2)The articles of association must provide that a person ceases to hold the office of director as soon as—
(a)the person ceases to be a director by virtue of any provision of the Companies Act 2006 or is prohibited from being a director by law,
(b)the person becomes insolvent, meaning—
(i)the person’s estate has been sequestrated,
(ii)the person has granted a trust deed for, or entered into a composition contract with, creditors,
(iii)the person has been adjudged bankrupt,
(iv)a voluntary arrangement proposed by the person has been approved,
(v)the person’s application for a debt payment programme has been approved under section 2 of the Debt Arrangement and Attachment (Scotland) Act 2002,
(vi)the person has become subject to any order or arrangement analogous to any of those described in sub-paragraphs (i) to (v) anywhere in the world,
(c)a registered medical practitioner who is treating the person gives a written opinion to the Bank stating that the person has become physically or mentally incapable of acting as a director and may remain so for more than 3 months,
(d)notification is received by the Bank from the person that the person is resigning from office, and such resignation has taken effect in accordance with its terms.