World Library  
Flag as Inappropriate
Email this Article

Companies Act 1862

Article Id: WHEBN0020923308
Reproduction Date:

Title: Companies Act 1862  
Author: World Heritage Encyclopedia
Language: English
Subject: United Kingdom company law, Corporation, Automatic Self-Cleansing Filter Syndicate Co Ltd v Cuninghame, Erlanger v New Sombrero Phosphate Co, Taylor, Lang & Co
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Companies Act 1862

The Companies Act 1862 (25 & 26 Vict. c.89) was an Act of the Parliament of the United Kingdom regulating UK company law, whose descendant is the Companies Act 2006.

Provisions

  • s 6[1] '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[2] '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[3] '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 contained, 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[4] stating the memorandum could be altered by special resolution, if the memorandum allowed that itself.
  • s 18[5] dealt with the effect of incorporation.
  • s 48[6]
  • s 153[7]

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.[8]

Cases decided under the 1862 Act

In popular culture

In the song "Some seven men form an association" in Gilbert and Sullivan's Utopia, Limited, King Paramount reforms the island of Utopia into a limited-liability company under the provisions of this act. However, in the operetta, the act is instead referred to as "the Joint Stock Companies Act of sixty-two."[9]

See also

Notes

  1. ^ s 7(1) CA 2006
  2. ^ s 9(2) CA 2006
  3. ^ s 33 CA 2006
  4. ^ s 617 CA 2006 now, but articles may be altered in all respects
  5. ^ s 15 and 16 CA 2006
  6. ^ now CA 2006 ss 437 and 438
  7. ^ now IA 1986 s 127
  8. ^ see In re London and Globe Finance Corporation Ltd [1903] 1 Ch 728, 734-735
  9. ^ https://articles/Utopia,_Limited

References

Micklethwait, John, and Adrian Wooldridge. 2003. The company: A short history of a revolutionary idea. New York: Modern Library.

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from Hawaii eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.