A certificate of incorporation given by the Registrar in respect of a company is conclusive evidence that all the requirements of the Companies Act have been complied with in respect of registration.
This is known as Rule in Peel’s Case
Barned’s Banking Co.; Re Peel’s Case,
The reason for this rule was expressed by Lord Cairns in Peel’s Case thus:
“When once the Memorandum is registered and the company holds out to the world as a company undertaking business, willing to receive shareholders and ready to contract engagements, then, it would be of the most disastrous consequences if after all that has been done, any person was allowed to go back and enter into an examination of the circumstances attending the original registration and the regularity of the execution of the documents”.
This is known as Rule in Peel’s Case
Barned’s Banking Co.; Re Peel’s Case,
The reason for this rule was expressed by Lord Cairns in Peel’s Case thus:
“When once the Memorandum is registered and the company holds out to the world as a company undertaking business, willing to receive shareholders and ready to contract engagements, then, it would be of the most disastrous consequences if after all that has been done, any person was allowed to go back and enter into an examination of the circumstances attending the original registration and the regularity of the execution of the documents”.
No comments:
Post a Comment