44.
same year the legislature retraced[1] its steps with respect to banking companies, repealed the 1826 Act, and required banking companies formed after May 1844 to apply to the Crown for incorporation.)
99 In 1855 The Limited Liability Act 1855 (UK) enabled companies registered under the 1844 Act (other than insurance companies) to obtain a certificate of incorporation with limited liability. But neither the 1844 Act nor the 1855 Act provided for dissolution and winding-up of companies. These subjects were dealt with separately, in 1844[2], in 1846 with respect to certain railway companies[3], in 1848[4], in 1849[5] and in 1850, again with respect to certain railway companies[6].
100 In 1856 and 1857 attempts were made[7] to consolidate the relevant legislation. These Acts were repealed by the 1862 UK Act. In the same year, 1862, legislation was passed relating to industrial and provident societies[8] which placed those bodies on much the same footing as joint stock companies. The enactment of the 1862 UK Act marked a watershed in the development of modern corporations law.
101 Section 4 of the 1862 UK Act provided that "[n]o Company, Association, or Partnership" consisting of more than a stated number of persons was to be formed, after the commencement of the Act, for certain purposes, unless it was
- ↑ 7 & 8 Vict c 113.
- ↑ 7 & 8 Vict c 111.
- ↑ 9 & 10 Vict c 28.
- ↑ The Joint Stock Companies Winding-up Act 1848 (UK).
- ↑ The Joint Stock Companies Winding-up Amendment Act 1849 (UK).
- ↑ The Abandonment of Railways Act 1850 (UK).
- ↑ The Joint Stock Companies Act 1856 (UK) and The Joint Stock Companies Act 1857 (UK).
- ↑ The Industrial and Provident Societies Act 1862 (UK) subsequently repealed by The Industrial and Provident Societies Act 1876 (UK) which, in turn, was replaced by the Industrial and Provident Societies Act 1893 (UK).
