Director disqualification causes vacation of office and may attract daily fines for continued functioning while disqualified. The statute enumerates grounds for vacation of a director's office-including lack of required share qualification, unsoundness of mind, insolvency, conviction for moral turpitude, failure to pay calls, unauthorised prolonged absence, prohibited loans or guarantees from the company, contravention of directorship restrictions, statutory removal, and cessation of qualifying office. Certain disqualifications are temporarily suspended while timely appeals or petitions are pending. Knowingly acting as a director after vacancy attracts a daily fine. Private companies may add further grounds by their articles.