Current regulations
Currently, as per the 1997 regulation, gymnasts must be at least 16 years of age, or turning 16 within the calendar year, to compete in senior-level events. For the current Olympic cycle, in order to compete in the 2008 Olympics, a gymnast must have a birth date before January 1, 1993. There is no maximum age restriction, and some gymnasts compete well into their 20s. The oldest female gymnast currently competing in senior international events is Germany's Oksana Chusovitina[10], who was born in 1975, and was 33 years, 1 month old at the 2008 Summer Olympics. She was 17 years, 1 month old at her first Olympics, the 1992 Summer Olympics. http://en.wikipedia.org/wiki/Age_controversies_in_gymnastics
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