1. 47 use the term "shareholder", the 1862 Companies Act, 25 & 26 VICT., c. 89 and subsequent U.K. legislation, including the current Companies Act;Although the 1844 Joint Stock Companies Act, 7 & 8 VICT., c. 110 and the 1856 Joint Stock Companies Act, 19 & 20 VICT,2006
2. questioning the significance of the fact that directors in the U.K. obtained their powers from the articles of association, rather than statute, given that the articles invariably vested managerial power in the board);Susan Cf;J. BUS. L,2011