Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface and acknowledgments
- Glossary
- List of abbreviations
- Table of cases
- Table of legislation
- PART I The essential qualities of the corporation
- 1 Approaching comparative company law
- 2 The partnership as a form of business organization
- 3 Corporations in a global market: the law applicable to corporations
- PART II The corporation and its capital
- PART III Governing the corporation
- PART IV Corporate combinations, groups and takeovers
- References
- Index
3 - Corporations in a global market: the law applicable to corporations
from PART I - The essential qualities of the corporation
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface and acknowledgments
- Glossary
- List of abbreviations
- Table of cases
- Table of legislation
- PART I The essential qualities of the corporation
- 1 Approaching comparative company law
- 2 The partnership as a form of business organization
- 3 Corporations in a global market: the law applicable to corporations
- PART II The corporation and its capital
- PART III Governing the corporation
- PART IV Corporate combinations, groups and takeovers
- References
- Index
Summary
Required reading
EU: EC Treaty, arts. 43, 46, 48
UK: CA 2006, secs. 1046, 1049, 1052
US: DGCL, §§ 371, 383; California Corporations Code, § 2115
The dynamics of regulatory competition
The whole and its parts
The term “regulatory competition” refers to a competition that may arise between the laws or other rules (such as stock exchange rules) in different jurisdictions because of differences between the legal requirements for companies. Not all jurisdictions can compete with each other. Some are simply superior to and trump others (such as when the laws of a federal jurisdiction are superior to those of a state jurisdiction). In order to understand how “regulatory competition” has affected the three jurisdictions we address in this text, we must first understand what these jurisdictions are and the nature of their composition. Each is a sub-unit of a larger jurisdiction.
Germany and the UK belong to the EU, and all US states belong to the US. Because both the upper- and the lower-tier jurisdictions enact legislation that is or functions as company law, it is necessary to understand the nature of the rules coming from each jurisdiction and their respective standing vis-à-vis each other. The rule-giving bodies affecting the governance of public companies in each of our jurisdictions are found at the primary, nation or state level (i.e. Germany or Delaware), at an upper, supranational or national level (i.e. the EU or the US), and at the level of a private or quasi-public organization (e.g. the New York Stock Exchange or the UK Takeover Panel).
- Type
- Chapter
- Information
- Comparative Company LawText and Cases on the Laws Governing Corporations in Germany, the UK and the USA, pp. 65 - 128Publisher: Cambridge University PressPrint publication year: 2010
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