| gen. |
body corporate (an organization such as a company or government that is considered to have its own legal rights and responsibilities: "Although the US parent company is not a public company, it is a body corporate whose shares are offered to the public. CBED. For the purposes of the Companies Act 2006, this includes a body incorporated outside the UK but does not include: • A corporation sole; or • A partnership that, whether or not a legal person, is not regarded as a body corporate under the law by which it is governed (section 1173(1), Companies Act 2006). PLG. In English Law (and as a result, throughout the Commonwealth Realms), body corporate is the legal term for a corporate body, i.e. a corporation. It is distinct from a natural person, although it has many of the same legal rights. A body corporate can be either a corporation sole (consisting of a single person) or a corporation aggregate (consisting of two or more persons). The British Crown is an example of a corporation sole, whereas J Sainsbury plc is an example of a corporation aggregate. CDL Alexander Demidov) |
