Reform of the ultra vires rule.

... Company Lawyer 1987 Article REFORM OF THE ULTRA VIRES RULE Robert R. Pennington. Abstract: Prentice report. *103 In the following article Robert Pennington [FNa1] examines the proposals for reform of the ultra vires rule as put forward by Dr D Prentice in the consultative document commissioned by the DTI. Background In October 1986 the Department of Trade and Industry published a consultative document on the desirability and practicability of reforming the ultra vires rule as applied to companies registered under the Companies Acts. The greater part of the consultative document consists of a report on the present state of the law and proposals for its reform by Dr Daniel Prentice of Pembroke College, Oxford, who was commissioned by the Department to prepare the report. In his report Dr Prentice surveys the origin, development and changing content of the rule as elaborated by judicial decisions over the last 120 years, and he comes to the conclusion that the

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