Chapter 7 Further reading

L Roach, Company Law (2^nd edn, OUP 2022) chs 16 and 17

Provides an accessible and practical account of the rules relating to share capital and the capital maintenance regime.

PL Davies, S Worthington and C Hare, Gower: Principles of Modern Company Law (11^th edn, Sweet & Maxwell 2021) chs 16-18

D French, Mayson, French & Ryan on Company Law (37^th edn, OUP 2021) chapters 6 and 10.

Both of these texts provide an extremely detailed account of the different forms of capital and the rules relating to distributions of assets and capital maintenance.

L Gullifer & J Payne, Corporate Finance Law: Principles and Policy (Hart 2011) ch 4.

Discusses the functions of capital, and the capital maintenance rules.

A Berg, ‘The Cuckoo in the Nest of Corporate Insolvency: Some Aspects of the Spectrum Case’ [2006] JBL 22.

Analyses the case of Re Spectrum Plus Ltd and other relevant cases.

F Clementelli, ‘(Under)valuing the Rules on Capital Maintenance’ (2012) 23 ICCLR 191

Explains the shortcomings in the capital maintenance rules and why reform is needed.

A Daehnert, ‘The Minimum Capital Requirement – An Anachronism Under Conservation: Parts 1 and 2 (2009) 34 Co Law 3 and 34.

Provides a detailed criticism of the minimum capital requirement placed upon public companies. Argues that the requirement is burdensome and anachronistic.

S Mercouris, ‘The Prohibition on Financial Assistance: The Case for a Commercially-Pragmatic Interpretation’ (2014) 35 Co Law 321

Discusses how the courts should aopt a more commercially pragmatic view of the financial assistance prohibition.

RR Pennington, ‘Can Shares in Companies Be Defined?’ (1989) 10 Co Law 140

Discusses what a share is and why legislation has never sought to provide a detailed definition.

C Proctor, ‘Financial Assistance: New Proposals and New Perspectives?’ (2007) 28 Co Law 3.

Discusses the law relating to providing financial assistance to acquire shares. Contends that the abolition of the rule in relation to private companies is welcome.

S Worthington, ‘Shares and Shareholders: Property, Power and Entitlement – Part 1 (2001) 22 Co Law 258.

Discusses historical and modern conceptions of the share.

Company Law Review Steering Group, ‘Modern Company Law for a Competitive Economy: Company Formation and Capital Maintenance’ (DTI 1999) 22-54.

Provides arguments for the capital maintenance reforms that were eventually introduced by the Companies Act 2006.

P Myners, ‘Pre-Emption Rights: Final Report’ (DTI 2005).

Analyses the law relating to pre-emption rights and discusses why such rights are needed.