‘[T]he company is at law a different person altogether from the subscribers to the
Memorandum; and, although it may be that after incorporation the business is precisely the
same as it was before, and the same persons are managers, and the same hands receive the
profits, the company is not ¡n law the agent of the subscribers or a trustee for them. Nor are
the subscribers, as members, liable in any shape or form, except to the extent and in the
manner provided by the Act.’
Lord M’Naughton ¡n Salomo” y Salomon & Co, Lid; Saloinon & Co, Lid y Salomon -
11895-991 All ER Rep 33 at 48.
Discuss the evolution of the legal concept of separate legal personality in Ireland in
ircumstances where the courts will rely on exceptions to the above in order to ‘pierce the
:orporate veil’. Refer in your answer to statute; common law and academic commentary.