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Mayson, French & Ryan on Company Law

Mayson, French & Ryan on Company Law (36th edn)

Derek French
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date: 10 December 2022

p. 102. Who makes company law and what is it for?locked

p. 102. Who makes company law and what is it for?locked

  • Derek FrenchDerek FrenchFreelance editor and writer in business and legal publishing for over 30 years

Abstract

This chapter discusses the sources and purposes of company law. Legislation is the most important source of company law. There is EU as well as UK legislation, but this is subject to Brexit. Litigation concerning companies has generated a vast quantity of case law. There are other rules such as the UK Corporate Governance Code and there are practitioner texts and academic articles and books in abundance. There is a discussion of the purpose of company law which notes that its most significant purpose must be to facilitate business, but there is argument over whether mandatory rules of company law are the best way to encourage business enterprise. This leads to the discussion of whether companies should only serve the interests of their members (the shareholder-centred view of the company) or whether wider public interests must be considered.

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