Royal Exchange and London Assurance Corporation Act 1719 (commonly called Bubble Act)

E1012591

Act of Parliament of Great Britain British statute economic regulation law

The Royal Exchange and London Assurance Corporation Act 1719, commonly called the Bubble Act, was a British law passed in the wake of the South Sea Bubble that restricted the formation of joint-stock companies without a royal charter or Act of Parliament.

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Observed surface forms (1)

Surface form	Occurrences
Royal Exchange and London Assurance Corporation Act 1719	0

Statements (47)

Predicate	Object
instanceOf	Act of Parliament of Great Britain ⓘ British statute ⓘ economic regulation law ⓘ
affects	British financial markets ⓘ corporate formation in Britain ⓘ
aimedToProtect	established chartered companies from competition ⓘ public from speculative corporate schemes ⓘ
alsoKnownFor	being one of the earliest statutory interventions in securities markets ⓘ
appliesTo	England NERFINISHED ⓘ Scotland NERFINISHED ⓘ Wales NERFINISHED ⓘ
category	Acts of the Parliament of Great Britain 1719 ⓘ British company law ⓘ British economic history ⓘ
citationForm	6 Geo. I c. 18 ⓘ
commonlyDescribedAs	response to speculative mania of the South Sea Bubble ⓘ
country	Kingdom of Great Britain ⓘ
grantsCharterTo	London Assurance Corporation NERFINISHED ⓘ Royal Exchange Assurance NERFINISHED ⓘ
hasAlias	6 Geo. I c. 18 ⓘ Bubble Act NERFINISHED ⓘ Bubble Act 1720 NERFINISHED ⓘ
hasNicknameOrigin	nickname "Bubble Act" derives from the South Sea Bubble ⓘ
historicalContext	early 18th-century financial speculation in Britain ⓘ
influenced	development of later British company legislation ⓘ
inForceStatus	repealed ⓘ
jurisdiction	Parliament of Great Britain NERFINISHED ⓘ
language	English ⓘ
laterInterpretedAs	general prohibition on unincorporated joint-stock companies ⓘ
longTermEffect	constrained corporate development in the 18th and early 19th centuries in Britain ⓘ discouraged creation of new joint-stock companies in Britain ⓘ
motivatedByEvent	South Sea Bubble NERFINISHED ⓘ
partOf	British company law history ⓘ
passedBy	Parliament of Great Britain NERFINISHED ⓘ
primaryPurpose	to grant charters to the Royal Exchange Assurance and the London Assurance Corporation ⓘ to restrict the formation of joint-stock companies without royal charter or Act of Parliament ⓘ
prohibits	raising transferable stock by unchartered companies ⓘ unincorporated joint-stock companies from acting as corporate bodies ⓘ
regnalYear	6 George I ⓘ
regulates	joint-stock companies ⓘ
repealedBy	Joint Stock Companies Act 1825 NERFINISHED ⓘ
requires	Act of Parliament for formation of joint-stock companies ⓘ royal charter for formation of joint-stock companies ⓘ
royalAssentBy	King George I of Great Britain NERFINISHED ⓘ
subjectMatter	insurance companies ⓘ stock-jobbing and financial speculation ⓘ
yearEnacted	1719 ⓘ

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Bubble Act 1720 → alsoKnownAs → Royal Exchange and London Assurance Corporation Act 1719 (commonly called Bubble Act) ⓘ