7. A Commissioner shall vacate his office if he—
(a)is adjudged bankrupt or makes a composition or arrangement with his creditors; or
(b)is convicted in the British Isles of any offence and ordered to be imprisoned for a period of not less than three months without the option of a fine; or
(c)has, for a period of four consecutive months, been absent from meetings of the Commissioners otherwise than by reason of illness or some other cause approved during the period by the Commissioners.