Changes to corporate and underage directors from 1st October 2008

Notice regarding the Companies Act 2006 -

Changes to corporate and underage directors from 1st October 2008

The 1st October will see a further stage of the implementation of the Companies Act 2006, which includes changes to the requirements for corporate and underage directors.

Corporate Directors
From 1st October a company will be required to have at least one director who is a natural person / individual. A company can no longer have all corporate directorships.
The only exemption to this is a grace period until October 2010 for any company that had only corporate directors on the 8th November 2006, the day the Companies Act received Royal Assent.

Underage Directors
The Act also introduces a minimum age for a director of 16 years old. On 1st October 2008 existing underage directorships will cease with no notification to the Registrar required. The company will however need to amend their register of directors to reflect the fact that the appointment has ceased.