Section 17, The Companies Act, 2009

(1) Subject to subsection (2), an individual shall not formor join in the formation of a company under this Act if he is– (a) less than 18 years of age; (b) of unsound mind; (c) an undischarged bankrupt; or (d) otherwise disqualified under this Act from being a director of a company. (2) Paragraph (a) of subsection (1) shall not apply to companies formed prior to the commencement of this Act. (3) A corporate body in liquidation shall not join in the formation of a company under this Act.