Dear readers,

At last, young entrepreneurs can be seen and heard!

With effect from 1 March 2009, the age at which most contracts* are binding and enforceable against a minor, and the minimum age to be a director of a company or a manager of a limited liability partnership, will be lowered from 21 to 18 years.

With the change, persons 18 years old and above can register a business name, be a company director, and form companies or limited liability partnerships.

*Note:

The exceptions are:

a) contracts for sale, purchase, mortgage, assignment or settlement of any land, other than a contract for a lease of land not exceeding 3 years;

b) contracts for a lease of land for more than 3 years;

c) contracts for sale, transfer or pledge of a minor’s beneficial interest under a trust; and

d) contracts for settlement of any legal proceedings or action in respect of which the minor is, pursuant to any written law, considered to be a person under disability on account of his age, or of any claim from which any such legal proceedings or action may arise.