Wednesday, November 28, 2007


Acts of English Parliament to 1601 Acts of English Parliament to 1641 Acts and Ordinances (Interregnum) to 1660 Acts of English Parliament to 1699 Acts of English Parliament to 1706 Acts of Parliament of Scotland Acts of Irish Parliament to 1700 Acts of Irish Parliament to 1800
1707–1719 | 1720–1739 | 1740–1759 1760–1779 | 1780–1800 | 1801–1819 1820–1839 | 1840–1859 | 1860–1879 1880–1899 | 1900–1919 | 1920–1939 1940–1959 | 1960–1979 | 1980–1999Bubble Act 2000–Present
The Bubble Act of 1720 (Officially titled the Royal Exchange and London Assurance Corporation Act 1719) was an Act of the Parliament of Great Britain (citation 6 Geo. 1, c. 18) that forbade all joint-stock companies not authorised by royal charter. While a common misconception is that the Act was passed to prevent a repeat of the South Sea Bubble, in reality the Act was passed to prevent other companies from competing with the South Sea Company for investors' capital. In fact, the Act was passed in June 1720, before the peak of the bubble. The Act was repealed in 1825.
Under the terms of the act, the Royal Exchange Assurance Corporation and the London Assurance Corporation were granted charters to write marine insurance. Until 1824 they remained the only joint-stock firms with such a charter.

No comments: