News

Corporate directors and underage directors

Release date: 26/09/2008

With effect from 1 October, all companies incorporated in England and Wales will be required to have at least one director who is a natural person.

Although some transitional provisions have been made, these are limited in scope.

Any company with exclusively corporate directors should therefore take legal advice to ensure that they comply with the law following 1 October 2008.

A further restriction entered into on the same day introduces a new minimum age for appointment of a director.

Going forward, all company directors must be at least 16 years old.