Companies Act 1862
Encyclopedia
The Companies Act 1862 was an Act
of the Parliament of the United Kingdom
regulating UK company law, whose descendant is the Companies Act 2006
.
Under section 167 of the Companies Act 1862 (25 & 26 Vict c 89) one of the functions of a liquidator was to bring criminal proceedings against directors and others who were alleged to have committed offences in relation to the company.
Act of Parliament
An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...
of the Parliament of the United Kingdom
Parliament of the United Kingdom
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body in the United Kingdom, British Crown dependencies and British overseas territories, located in London...
regulating UK company law, whose descendant is the Companies Act 2006
Companies Act 2006
The Companies Act 2006 is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. It had the distinction of being the longest in British Parliamentary history: with 1,300 sections and covering nearly 700 pages, and containing 16 schedules but it has since...
.
Provisions
- s 6 'Any seven or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association, and otherwise complying with the requisitions of this Act in respect of registration, form an incorporated company, with or without limited liability.'
- s 8 'Where a company is formed on the principle of having the liability of its members limited to the amount unpaid on their shares, hereinafter referred to as a company limited by shares, the Memorandum of Association shall contain the following things' the third of which was 'objects for which the proposed company is to be established.'
- s 11 'The memorandum of association... shall, when registered, bind the company and the members thereof to the same extent as if each member had subscribed his name and affixed his seal thereto, and there were in the memorandum containied, on the part of himself, his heirs, executors and administrators, a covenant to observe all the conditions of such memorandum, subject to the provisions of this Act.'
- s 12 stating the memorandum could be altered by special resolution, if the memorandum allowed that itself.
- s 18 dealt with the effect of incorporation.
- s 48
- s 153
Under section 167 of the Companies Act 1862 (25 & 26 Vict c 89) one of the functions of a liquidator was to bring criminal proceedings against directors and others who were alleged to have committed offences in relation to the company.
Cases decided under the 1862 Act
- In re Wiltshire Iron Co (1868) LR 3 Ch App 443
- Salomon v A Salomon & Co Ltd [1897] AC 22
- Ashbury Railway Carriage & Iron Co Ltd v Riche (1875) LR 7 HL 653
See also
- Companies ActCompanies ActCompanies Act is a stock short title used for legislation in the United Kingdom and South Africa relating to company law....
- UK company law
- History of companiesHistory of companiesThe history of companies stretches back to Roman times, and deals principally with associations of people formed to run a business, but also for charitable or leisure purposes. A corporation is one kind of company, which means an entity that has separate legal personality from the people who carry...
- Limited Liability Act 1855Limited Liability Act 1855The Limited Liability Act 1855 was an Act of the Parliament of the United Kingdom that first allowed limited liability for corporations that could be established by the general public in the UK.-Overview:...
- Joint Stock Companies Act 1856Joint Stock Companies Act 1856The Joint Stock Companies Act 1856 was a consolidating statute, recognised as the founding piece of modern United Kingdom company law legislation.-Overview:...
- Companies (Consolidation) Act 1908Companies (Consolidation) Act 1908The Companies Act 1908 was a United Kingdom Act of Parliament, which regulated UK company law. Its descendent is the Companies Act 2006....
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- Companies Act 1948Companies Act 1948The Companies Act 1948 was an Act of the Parliament of the United Kingdom, which regulated UK company law. Its descendent is the Companies Act 2006.-Cases decided under this Act:*Scottish Co-operative Wholesale Society Ltd v Meyer...
- Companies Act 1985Companies Act 1985The Companies Act 1985 is an Act of the Parliament of the United Kingdom of Great Britain and Northern Ireland, enacted in 1985, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.The Act was a consolidation of...
- Companies Act 2006Companies Act 2006The Companies Act 2006 is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. It had the distinction of being the longest in British Parliamentary history: with 1,300 sections and covering nearly 700 pages, and containing 16 schedules but it has since...