• University of Exeter Business School
• Module

Corporate Law and Regulations

Module description

This module considers the UK law of registered companies. It addresses the framework within which a company exists and how a company can operate. The module examines the principles that apply to both private and public companies. During the course of the module you will gain an understanding of the role of the company as a type of business enterprise and how it functions within the legal and business worlds. The module enables you to identify legal issues and problems that arise through the use of a company and how to deal with them from a practical legal perspective throughout the life of a company from incorporation to liquidation. This module will increase your knowledge of legal principles and help you understand the role of law in regulating businesses. It will develop your oral and written communication skills and you will learn to use appropriate legal language, identify and analyse legal problems, produce reasoned arguments and conclusions and recommend a course of action based on legal principles either working independently or as part of a team. Knowledge of the law and the skills developed in this module will provide you with a solid foundation which can be applied to all employment situations.

Module aims - intentions of the module

The aim of this module is to enable you to understand the foundation and principles of company law that are to be found in the Companies Act 2006. It will also help you understand other important areas of law and practice that apply to UK companies. The module will consider how to deal with various issues and problems associated with UK companies from a practical legal perspective. To gain an appreciation of these areas the module deals with issues in a roughly chronological path through the “life” of a company: looking first at different types of business enterprise, the formation of a company, the financing of a company, then at issues arising in the administration and day-to-day life of the company, followed by issues arising in insolvency and the liquidation (or bringing to an end) of a company.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. understand the role of company law within the UK legal system;
• 2. explain, summarise and assess coherently the principal features of corporate law;
• 3. identify issues and problems arising in areas of corporate law and identify and apply relevant legal rules to those issues and problems, reaching reasoned conclusions as appropriate;
• 4. understand the different sources of corporate law and use them appropriately to explain issues and reach conclusions;
• 5. discuss the role/function of insolvency law; insolvency/inability to pay debts; role of liquidator; distribution of assets; challengeable transactions;
• 6. understand the legal principles governing the external affairs of the corporation – in particular, the contractual liability of a corporation.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 7. demonstrate understanding of the role of a company in a business environment and the implications of incorporation;
• 8. outline the legal implications of information technology for business;
• 9. identify and analyse legal problems in the context of a business environment;
• 10. raise an awareness and appreciation of the political, socio-economic and technical context of corporate law.

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 11. keep up to date with financial sector’s relevant legal/regulatory changes;
• 12. assess a problem from multiple angles to ensure all relevant issues are considered;
• 13. produce reasoned arguments and conclusions to issues and problems;
• 14. commit to engendering lawful, ethical and socially reasonable corporate behaviour.

Syllabus plan

• The formation and registration of companies and the different types of companies
• Corporate personality and the extent of the personal liability of members of corporation
• The legal limits of corporate social responsibility
• The relationship between the corporation, its officers and its members
  The division of powers within a corporation
• The rights and remedies for members and creditors regarding the conduct of the corporation’s affairs
• The general law and statutory duties owed by directors and other officers
• The external administration of corporations in financial difficulty

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Defer – As first time

Refer – Capped at 40%

Indicative learning resources - Basic reading

Davies, Worthington & Micheler (2016) Gower’s Principles of Modern Company Law, 10th edition, London: Sweet & Maxwell

Students may also consult other textbooks such as:

 • Dignam & Lowry (2016) Company Law, 9th edition, Oxford: Oxford University Press

 • French (2017) Mayson, French & Ryan on Company Law, 34th edition, Oxford: Oxford University Press

Key words search

Corporate law