For a while in UK, there has been an increase in the issues of potential corporation criminalization. In the late 80s and early 90s there have been a series of well documented pitfalls in terms of potentially lethal corporate activity, which brought public attention and highlighting to the legal community the possible use of criminal law in such issues. In September 1997, a debate was held at the University of Glamorgan’s Law School on Issues of Corporate Crime, which was done with the idea of bringing together those who were at the forefront of this debate.
The issue here is whether corporations should be criminalized or not and if they are criminalized then on what basis are they to be acted upon.
This issue today in the corporate world speaks of growing tolerance of individuals towards corporate crime, in the review of 1996 on the Law of Manslaughter, legislating this criminal code was toned down to Law Com 237 - Involuntary Manslaughter.
The fundamental review of the Company Law has been embarked by the United Kingdom. After the completion of the first stage in July 2001, the UK government started considering the reform proposals. The purpose of modernizing the company law is to facilitate enterprise and increase the attractiveness of UK as a location for doing business.
The Companies Act 2006 took over from the Companies Act 1985. This is a United Kingdom Parliamentary Act, which is the main source for UK Company Law. It has 1300 sections, 700 pages with 15 or more schedules & 59 pages of contents.
In case that a company does not have enough funds to pay their employees, an exclusive insolvency agreement is made according to the Insolvency Act 1986. Basically, the law deals with the insolvency of individuals and companies in the
