| 单词 | lifting the (corporate) veil |
| 释义 | lifting the (corporate) veil lifting the (corporate) veil in company law, the court's refusal to apply the normal rule that a corporation is a different legal person from its members: Salomon v. Salomon [1897] AC 22. Instances where this has been done are:(1) where a group of companies is an economic entity, see DHN Food Distributors v. Tower Hamlets [1976] 3 All ER 462 and Woolfson v. SRC 1978 SC (HL) 90; and (2) where there is illegality, see Daimler Co. v. Continental Tyre and Rub- ber Co. [1916] 2 AC 307. Directors who may be members are not protected by the veil in some statutory cases: (1) where the membership of the company has fallen beneath the statutory minimum; (2) where the company trades without having received the appro- priate certificate from the registrar; (3) where a bill of exchange is signed by an officer of the company, which does not bear the company's full name, see Ratsanjan Pistachio Promotions Group v. Reis [1990] BCC 730; (4) where under the Insolvency Act 1986 the directors are personally liable for wrongful trading. |
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