ABSTRACT
If lifting the veil is regarded as removing the advantages which incorporation gives to the corporator, then there are a number of important instances where statutory provisions also bring about this effect. The term, corporator, is here being used widely to include both shareholders and directors. In most of the cases below, the statutory provision is imposing liability on directors or other officers, whose general duties and liabilities are considered in Chapter 10, but these provisions are usefully considered here, both because in the small companies to which the provisions usually apply there is an identity between the directors and the shareholders and, also, because, in respect of fraudulent and wrongful trading, it is important to bear in mind that, in certain circumstances, companies cannot be formed or run to the economic detriment of third parties.
