Can a Tier 2 holder be a Director of a Ltd. company?

Hi all,

I'm in the process of applying for my ILR on d Tier 2 (General) route. I was previously on a Tier 1 (General) and had to switch to Tier 2 last year. While on Tier 1, I had and ran my own limited company as the director. I currently have an employer but my ltd company still exists by the side and I still do business with it once in a while.

I have recently made a transfer from my ltd company account into my personal account and this reflects on my most recent bank statement which I'll take to Home Office to apply for my ILR. I have heard from some sources that as a Tier 2 holder you cant have a limited company (although I havent seen this anywhere), I'm a bit worried as I'm not sure how true this is and if it is what position am I?

Thanks