Tier 4 Child Student Director

Hi, can a Tier 4 Child Student over 18 be a director or a shareholder?
In a guidance on pages 68-69 it does not ban you anywhere from being a director or a shareholder on its own but from being employed by a company where he or she ALSO holds a statuatory role, and doesn't say anything about being in a statuatory role on itself.

The Tier 4 policy guidance (page 70) gives three specific examples of the sort of "business activity" a Tier 4 migrant cannot undertake, including the one you have quoted, but it also says

This is not an exhaustive list but provides examples of the types of circumstance in which you will be considered to be engaged in business activity.

I would therefore advise that a Tier 4 migrant does not undertakes any activities that could be described as "business activity". It also seems slightly odd that someone with Tier 4 Child leave, maximum 17 years old, would be doing so.