Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
In the context of company law, what does 'piercing the corporate veil' refer to?
In the context of company law, what does 'piercing the corporate veil' refer to?
- Ignoring the practical realities of a situation
- Considering the company as a separate entity from its shareholders
- Codifying the principle of separate legal personality
- Treating the shareholders as if they were the owners of the assets (correct)
Before the Companies Act of 2008, how was the principle of disregarding a company’s separate existence regulated?
Before the Companies Act of 2008, how was the principle of disregarding a company’s separate existence regulated?
- By codifying the principle into law
- By lifting or piercing the corporate veil (correct)
- By limiting the rights and obligations of shareholders
- By recognizing the practical realities of a situation
What term was used to place limitations on the principle of separate legal personality before the Companies Act of 2008?
What term was used to place limitations on the principle of separate legal personality before the Companies Act of 2008?
- Recognizing practical realities
- Lifting or piercing the corporate veil (correct)
- Codifying the principle into law
- Regulating the rights of shareholders
When would it be necessary to look behind the company and pay regard to the personality of the shareholders?
When would it be necessary to look behind the company and pay regard to the personality of the shareholders?
Signup and view all the answers
What did Innes CJ emphasize regarding the existence of a company as a separate entity?
What did Innes CJ emphasize regarding the existence of a company as a separate entity?
Signup and view all the answers
