1In Oakes v Turquand (1867) L.R. 2 H.L. 325 at 366-367 (cited with approval in Pathescope) Lord Cranworth said:
‘But when the Legislature enabled shareholders to limit their liability, not merely to the amount of their shares, but to so much of that amount as should remain unpaid, it is obvious that no creditor could safely trust the company without having the means of ascertaining, first, who the shareholders might be, and, secondly, to what extent they would be liable. This is obviously the reason why the new statute opened the register to the inspection of all the world . . . The legislature took care to provide the register as the means of enabling persons dealing with the company to know to whom and to what they had to trust’.