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The Historical Revolution Of The England Company Act

Posted on:2010-02-19Degree:MasterType:Thesis
Country:ChinaCandidate:L B ZhouFull Text:PDF
GTID:2166360275960363Subject:Legal History
Abstract/Summary:PDF Full Text Request
Company not only created the vast majority of today's world of wealth,but also become the most frequently used tools for managing business.As a tool for regulating the company's organization and activities,the importance of the company law is self-evident.The limited liability company is the most revolutionary invention of the England.The emergence of the England company law can be traced back to the 19th centttry.In 1844,England promulgated the Joint Stock Companies Act 1844,which recognized the independent status of juridical person is the first company law on the world.The Limited Liability Act 1855 and the amended Joint Stock Companies Act 1856 laid the foundation of modern company law and established in fundamentally the key principles about limited liability and independent company personality.Hence forth entrepreneurs can develop a risk industry,investors can gather various resources, financiers can invest in the invention of a lack of funds,etc.At the same time,there is also a growing recognition that the characteristic about limited liability and independent company personality endowed by limited liability company itself have been abused by members of the board of directors and corporate executives.Thus,the law which against the rules of company creation,operation and so on came into being.But the main purpose of these laws are to absorb more in the capital market and to try to create and encourage more economic activity.The 19th and 20th century,the company law has been revised many times,each time changes incorporated the demand at that time into the legislation at a high level. England joined in the European Economic Community in 1972,the legislation has to integrate and implement the corresponding legal rules of the EC.These changes are to be integrated and reflected in the Companies Act 1985 eventually,on that basis, the company law,promulgated in 1989 made further changes,core fundamental unchanged.Since the nineteenth century,too much laws and cases have accumulated during the development of the company law.With the development and change of the social environment,t company law was constantly adjusted accordingly,to re-evaluate and mitigate the shackles of regulation,so as to achieve "something" the legal framework and thus lay a solid foundation for the United Kingdom legal environment. This article talks From the company's historical origin of the company,then describs the history and its evolution of the company law of england,and reveals the laws of development and trends about British company legislation through combing its history.As long as we have a profound understanding of historical evolution process of the company law,whether the company act itself or the company of China's future legislation will have the guidance and reference from significance.The main contents of this article can be divided into the following four major parts:The introduction summarizes the importance of the company for a country and society,introduces the present situation of the current domestic and abroad academic circles studying of the company law and the research method,purpose,significance of this article.The first part of the Article is the history and evolution of the company legislation,first of all,traces the origins of the company,then the legislative history of the companies is divided into three phases to be analyzed,which are Early company legislation --- refers to 1844 before,1844 after,the latest reform since 1998.Scholars recognized the British East India Company in 1600 are the typical first joint-stock companies,which was based on the establishment of the king's license.With the development of economy,more and more companies experience,at which point the company law which regulate the company came into being.Bubble Act 1720 is the first company legislation.Joint Stock Companies Act 1844 is a milestone In the process of development of Company Law,which initially laid a legislative model and framework of British Modern Company Law,marked the official emergence of the modern corporate system,and was also of great significance in the history of the world's economicdevelopment.Since then,in order to adapt to rapid development of the capitalistic economies of the United of England,thecompany legislation also conducted a number of major changes advancing with the times,in this process also establishes some important principles which are still in use today.The company law originated from the Joint Stock Companies Act 1844 and the Limited Liability Act 1855,which has encouraged domestic investment and promoted economic take-off after the birth because of the creation and affirmation of the limited liability system, as well as its own great flexibility,and have been emulated in many countries with the expansion of the England.Since then the Law Reform Commission appointed by the Trade ministry has reviewed England.company law actively and submited recommendations,and the law got ongoing development and supplement through cases.But the seam mending makes the company law become more and more bloated.Such a situation become even worse after the England adding the Treaty of Rome in 1972.In the 1970s,the England had to continually revise its company law in order to implement the European Directive on Company Law,which exacerbated the complication and confusion of the provisions of the company law.The company law reformation beginning in 1998 aimed at a comprehensive,thorough and extensive review of company law to provid the framework to adapt to economic development for the new company law legislation.The new company law legislation in addition to adapt to the competitiveness and flexibility required by the globalization,should also consider the impact of legislative and judicial from other commonwealth countries.At the end of this section lists the sources of England company law.The second part is the development trend of the England Company Act and the sources of company law,the company law in modem era experienced a relatively long historical process,which updated continuously based on the original company law,formed a systematic,rigorous and scientific legislative pattern eventually.We can sum up the development regularity from the legislative process of England company legislation over 200 years.1,from adhere to the company's community development to permit the establishment of one-man company;2,from the simple to the strict criteria;3,from a shareholders conference as the central to weaken its authority and strengthen the authority of the board of directors;4,the company legislation developed to be unified,internationalized.The conclusion part of this article summarized the main contents and ideas of the thesis as well as the meaning of studying the company law,Understanding the legislative history of the company can get some enlightenment,which has reference value to Chinese company legislation.
Keywords/Search Tags:England, Companies Act, History
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