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(b) that Section 147(3) be amended by inserting after
"If, from any report":
", or information supplied,"
Legislation along these lines has been introduced by the Companies
(Amendment) Bill published on 12 December 1986.
6. (1) Section 1570 of the Companies Ordinance (Minimum age
limit for directors)
(2) Should there be a maximum age limit for directors?
6.1
Section 1570 of the Companies Ordinance, which was introduced
by the Companies (Amendment) Ordinance 1984, provides that no person
shall be capable of being appointed a director of a company unless he
has attained the age of 21 years.
6.2
The section was introduced in implementation of a recommendation
in the Second Report (April 1973) of the Companies Law Revision Committee
which read: "We think, however, that there should be a minimum age for
appointment as director. The need for this is illustrated by a case
in England which has been brought to our attention in which the three
directors of a company were the wife and two sons, aged fourteen and
seventeen, of an undischarged bankrupt. We therefore recommend that
no person should be capable of being appointed a director of a company
unless he has attained the age of twenty-one."
6.3
In June the Standing Committee were advised that the Law Reform
Commission had recently issued a Report entitled "Young Persons - Effect
of age in Civil Law" para. 16.9.1 of which read as follows:
"The age at which a person may become a director of a company
should be lowered from 21 years to 18 years. The Companies Law Revision
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