c. 133) was an act of the Parliament of the United Kingdom that first expressly allowed limited liability for corporations that could be established by the general public in England and Wales as well as Ireland.

The modern principle that shareholders are liable to the corporation was introduced by the Joint Stock Companies Act 1844.

In the House of Lords, a considerable amount of opposition existed to the idea that companies should have the advantage of limited liability.

Many peers objected to what appeared to them as the government rushing through the bill as if its urgency was connected to the effort in the Crimean War.

He said,[6] It proposes to depart from the old-established maxim that all the partners are individually liable for the whole of the debts of the concern.Earl Granville replied to these concerns as follows.