Limited Liability Act 1855

From Wikipedia, the free encyclopedia

Acts of Parliament of predecessor states to the United Kingdom

Acts of English Parliament to 1601 Acts of English Parliament to 1641 Ordinances and Acts (War & Interregnum) to 1660 Acts of English Parliament to 1699 Acts of English Parliament to 1706 Acts of Parliament of Scotland Acts of Irish Parliament to 1700 Acts of Irish Parliament to 1800

Acts of Parliament of the United Kingdom

1707–1719 | 1720–1739 | 1740–1759 1760–1779 | 1780–1800 | 1801–1819 1820–1839 | 1840–1859 | 1860–1879 1880–1899 | 1900–1919 | 1920–1939 1940–1959 | 1960–1979 | 1980–1999 2000–Present

Acts of the Scottish Parliament

Acts of the Northern Ireland Parliament

Acts of the Northern Ireland Assembly

Measures of the National Assembly for Wales

Orders in Council for Northern Ireland

United Kingdom Statutory Instruments

For the history of introduction of the Act and early experience with its application, see: Limited liability: History.

The Limited Liability Act 1855 (18 & 19 Vict. c133) was an Act of the Parliament of the United Kingdom that first allowed limited liability for corporations in the UK^[1].

Under the Act, shareholders were still liable directly to creditors, for the unpaid portion of their shares. The modern principle that shareholders are liable to the corporation was introduced by the Joint Stock Companies Act 1844.

[edit] See also

• Joint Stock Companies Act 1844
• Utopia Limited

[edit] Bibliography

• Harris, R. (2000). Industrialising English Law: Entrepreneurship and Business Organisation, 1720–1844. Cambridge, UK: Cambridge University Press. ISBN 0-521-66275-3. 
• Hunt, B.C. (1936). The Development of the Business Corporation in England, 1800–1867. Cambridge, MA: Harvard University Press. 
• Mayson, S.W et al. (2005). Mayson, French & Ryan on Company Law. London: Oxford University Press. ISBN 0-19-928531-4. 

[edit] Notes

1. ^ Mayson et al. (2005) p.55