Page 166 - Microsoft Word - 00 Prelims.docx
P. 166
Chapter 7
To reveal national identity
In times of war it is illegal to trade with companies located in countries we are at war
with. If although the company is registered in the UK the funds are being used in an
enemy country the veil may be lifted.
Illustration 3 – The veil of incorporation
Daimler Co Ltd v Continental Tyre & Rubber Co 1916
Facts:
Although the company was registered in the UK all of the shareholders but one
was German.
Held:
The veil would be lifted; the true facts were that this was a German company as
such an English company should not be trading with them at this time.
162
