2008
October 1st
- The minimum age for directors of 16 years. The Registrar will automatically remove underage directors from the register without notification to the company with their appointment being made void.
- At least one director must be a ‘natural person’ for example an individual, not a corporate body. Period of grace until October 2010 for companies who only had corporate directors on 8th November 2006, the date of Royal Assent of the Companies Act was granted.
- All companies incorporated after 1st October 2008 must have at least one natural director.
- If a company falls below the minimum requirements for example one natural person director for a private company or one natural person director and a secretary for a public company, the Secretary of State can direct the company to correct the breach.
- The above rules also apply to dormant companies.