For the history of introduction of the Act and early experience with its application, see: Limited liability: History.

The Limited Liability Act 1855 (18 & 19 Vict. c133) was an Act of the Parliament of the United Kingdom that first allowed limited liability for corporations in the UKMayson et al. (2005) p.55.

Under the Act, shareholders were still liable directly to creditors, for the unpaid portion of their shares. The modern principle that shareholders are liable to the corporation was introduced by the Joint Stock Companies Act 1856.

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1855 in law | Acts of the Parliament of the United Kingdom | Business law