The Fiji ILLEGAL government has reduced the age limit for the appointment of a company director from 21 to 18 years as part of amendments to the 2010 Companies Decree and the 2010 Company Rules.
ILLEGAL Cabinet based its decision on submissions made by ILLEGAL Attorney General Aiyaz Sayed-Khaiyum.
Khaiyum said the minimum age of 21 years has posed problems for people who are proposing to set up companies and who wish to appoint persons as directors who are over 18 years of age, but who have not yet reached the age of 21 years. WHICH COMPANIES? PLEASE, DO TELL.
“Although the (respective) Act allows the appointment of directors below the age of 21 years, this can only be done if approval is granted at the general meeting of the company and special notice is required for any such appointment.”
He also added that in line with international definition and the ILLEGAL People’s Charter for Change, Fiji had reduced the age of adulthood from 21 years to 18 years with respect to a number of laws, such as the Marriage Act and to be effected, the electoral voting age.
As such, he said that it is necessary to make amendments to the Act, in order to allow persons who have reached the age of 18 years to be appointed as directors or as secretary of any company in Fiji. HOW MUCH EXPERIENCE IN DIRECTORSHIP DO THESE 18 YEAR OLDS HAVE? THIS LAW IS JUST TO CATER FOR THE INDO-FIJIAN COMPANIES MANY OF WHOM HAVE MADE THEIR MILLIONS IN FIJI AND ONLY CONTRIBUTING TO THEIR WELFARE AND WEALTH.
The Companies (Amendment) Decree 2010 and Companies (Winding Up) (Amendment) Rules 2010, will come into effect once they have been published in the Gazette.