Legal Regulation and Public Policy
Chapter 2: History of the company share and the different categories of share
The historical antecedents of the modern company share are explained in this chapter. The period of evolution from the Bubble Act 1720 up to the ‘Big Bang’ in 1986 and beyond is covered. A major part of this chapter is devoted to explaining the different types of share that exist today and that have existed in the past. The diversity of share types is impressive, with more than a dozen categories identified, and that pattern is continually evolving. The important concept of a ‘class’ of shares is analysed. The differences between shares and debentures are highlighted.
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