Distinguish between “lifting the veil” and “raising the curtain”.

 Lifting the veil
 It also referred to as “piercing the corporate shell” or ignoring the legal personality.
 These are modifications to the rule in Salomon V Salomon and Co. Ltd [1897]
They are circumstances in which the law disregards the legal personality of the company in favour of the individual members or the economic realities of a company and its subsidiaries.
These circumstances are recognised the Companies Act as well as the Courts for example
When the number of members of a company falls below the statutory minimum, group
Accounts, investigation of company membership and fraudulent trading. Courts of law on
 The other hand have lifted the veil:
– To prevent perpetration of fraud or misconduct
– To ascertain a company‟s residence
– To ascertain a company‟s character
– To facilitate commerce.

Raising the curtain:
 These are circumstances in which the law facilitates access to information about a company, generally beyond the public eye e.g. employees of the company.
It is accomplished way of investigating the affairs of the company either the registrar or
By an inspector or inspectors appointed the court or registrar.

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