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Part I Corporate Law Foundations, 2 Company and Corporate Insolvency Law

From: The Law of Financial Services Groups

Charles H R Morris

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 25 September 2021

Subject(s):
Regulatory liability of lenders — Bank resolution and insolvency — Regulation of banks — Shares — Securities account

This chapter examines the fundamentals of company law and corporate insolvency law. Financial services businesses generally operate in a heavily regulated environment. Financial services-specific regulations have a fundamental role in shaping and determining the legal form and structure of such businesses and their wider groups. Nevertheless, at their core, financial services businesses use the same legal forms that are used by businesses across all sectors. It is therefore important to study the fundamental laws underlying general business structures. There are many different types of business entities and each is subject to the specific legal regime native to its jurisdiction of establishment. The chapter looks at the most common form of business structure used in the UK: the company limited by shares, incorporated under the UK Companies Act 2006. It also introduces the basics of group consolidated accounting, and explains the legal nature of consolidated group assets, liabilities, and capital.

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