16.— (1) A person shall not be appointed as a director of an owners’ management company after the coming into operation of this section if such appointment is—

(a) for life, or

(b) for a term greater than 3 years.

(2) A person who, on the coming into operation of this section, stands appointed as a director of an owners’ management company, and the appointment is—

(a) for life, or

(b) for a term greater than 3 years,

shall be deemed to vacate that office—

(i) in the case of an appointment for life on the day which is 3 years after the coming into operation of this section, and

(ii) in the case of an appointment referred to in paragraph (b) on the day of the expiry of the term concerned or the day which is 3 years after the coming into operation of this section whichever is the earlier.

(3) Subject to subsection (1), nothing in subsection (2) shall prevent the appointment or election of a person to whom subsection (2) applies as a director of an owners’ management company at the annual general meeting of the owners’ management company concerned unless this is prohibited by the articles of association or other governing document of the company.