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Do companies have complete freedom to act? Analyse the doctrine of ultra vires and the proposed reforms in the Companies Bill designed to grant companies full capacity.
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2. Do companies have complete freedom to act? Analyse the doctrine of ultra vires and the proposed reforms in the Companies Bill designed to grant companies full capacity. The doctrine of ultra vires has been fervently debated for many years since its conception in the 19th century, and has caused widespread confusion within the sphere of company law. It will be necessary, in order to construct a thourough and fluidous argument, to outline the history and development of the ultra vires doctrine and why, some would argue, it has become the bane of company law. It will also be necessary to dicuss the relevance of ultra vires to modern company law and the efforts to curtail its widespread influence. The DTI's White Paper Modernising Company Law, presented to Parliament in 2002 seeks to afford companies the ability to act with unlimited capacity and therefore remove the problems associated with the ultra...
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