12. Individuals who are qualified to be appointed and act as key office holder

Other than the Official Receiver with respect to a bankruptcy, liquidation or provisional liquidation, an individual shall be qualified to be appointed or act as a key office holder in respect of an activity, only if –

the person is registered by the Authority as an

the person’s registration is not suspended under section 18;

the person’s registration is not subject to any condition imposed under section 15 that prevents or limits the person from serving as a key office holder in respect of the activity;

the person is not an undischarged bankrupt debtor;

the person has not been adjudged to be of unsound mind under the Mental Diseases Ordinance

the person is not subject to a prohibition order made under section 27; and

the person is not prohibited under either section 213 of the Companies Act, or by an order made under section 214 of the Companies Act, from being appointed or acting as an office holder.