How Old is Too Old to be a Director of a Company?
If you’re looking for advice on incorporating a company, we can help. Give us a call.
The implementation of the Companies Act 2016 has brought with it a variety of different changes, some of which we’ve discussed on our page so far.
Among those changes includes the abolition of the age limit for Directors of public companies. Previously, under the Companies Act 1965, s.129 stated:
Subject to this section but notwithstanding anything in the memorandum or articles of the company no person of or over the age of seventy years shall be appointed or act as a director of a public company or of a subsidiary of a public company.
The new Companies Act 2016, on the other hand, now only requires that a Director be at least 18 years of age.
On the one hand, this opens up the company to the possibilities of taking from a well of experience and knowledge that previously would not have been allowed. On the other hand, it may close the door to new, more innovative ideas from younger candidates.
What do you think of the removal of the age limit for directors?