48. (1) A person is not eligible for appointment as a member of the Board (M) or a committee of the Board (M) if the person is—

(a) nominated as a member of Seanad Éireann,

(b) elected as a member of either House of the Oireachtas or to be a member of the European Parliament,

(c) regarded pursuant to Part XIII of the Second Schedule to the European Parliament Elections Act 1997 as having been elected to that Parliament, or

(d) elected or co-opted as a member of a local authority.

(2) A person who is for the time being entitled under the Standing Orders of either House of Oireachtas to sit therein or who is a member of the European Parliament or a local authority shall, while he or she is so entitled or such a member, be disqualified for membership of the Board (M) or a committee of the Board (M).