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Section 8

. Disabilities . —N —Notwithstanding anything contained in section 4, a person shall not be entitled to have his name entered in, or borne on, the 6 [Register of members] if he—

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8 . Disabilities . —N —Notwithstanding anything contained in section 4, a person shall not be entitled to have his name entered in, or borne on, the 6 [Register of members] if he— (i) has not attained the age of twenty-one years at the time of his application for the entry of his name in the 6 [Register of members]; or (ii) is of unsound mind and stands so adjudged by a competent court; or (iii) is an undischarged insolvent 7 [or undischarged bankrupt]; or