Corporation

A succession of persons or a body of persons authorized by law to act as one person and having rights and lia­bilities distinct from the individuals forming the corporation. The artificial personality may be created by royal char­ter, statute, or common law. The most important type is the registered *com­pany formed under the Companies Act. Corporations sole are those having only one individual forming them; for exam­ple a bishop the sovereign, the Treasury Solicitor. Corporations aggregate are composed of more than one individual, e.g. a limited company. They may be formed for special purposes by statute; the BBC is an example. Corporations can hold property, carry on business. bring legal actions. etc., in their own name. Their actions may, however, be limited by the doctrine of *ultra vires. See also PUBLIC CORPORATION.