BABIZ 'A company is an entity distinct from its shareholders' is the fundamental principle of company lawr which is, however, not absolute. By referring to the relevant case law, discuss the circumstances under which the court can go beyond the entity and look to those controlling it. Introduction [250 Words] The Part is an essay type question. Therefore, the intro should he descriptive. The students then should rephrase the question: the student should then end the intro with explaining as to how will the essay expand on the question. Maniacs [800 words} The main body of the essay should include descriptions. denitions, and references primarily from Text Books and l{Ease Laws From the juristic point of view, a company is a legal person distinct from its members WM til. This principle may be referred to as the *Veil of incorporation'. The courts in general consider themselves bound by this principle. The effect of this Principle is that there is a ctional veil between the company and its members. That is, the company has a corporate personality which is distinct from its members. But, in a number of circumstances, the Court will pierce the corporate veil or will ignore the corporate veil to reach the person behind the veil or to reveal the true form and character of the concerned company. The rationale behind this is probably that the law will not allow the corporate form to be misused or abused. In those circumstances in which the Court feels that the corporate form is being misused it will rip through the corporate veil and expose its true character and nature disregarding the Salomon principal as laid down by the House of Lords. Please research for more case laws, we cannot provide more, to reduce chances of plagiarism conclusion [200 words] The conclusion should be a summary of your intro and main body narrowing down your opinion based on the references of books and case laws you've stated in the essay. Please, do not add any new idea to the conclusion. The conclusion should only narrow down your perspective of your answer given above PART 2 'A company is an entity distinct from its shareholders' is the fundamental principle of company law which is, however, not absolute. By referring to the relevant case law, discuss the circumstances under which the court can go beyond the entity and look to those controlling it.PART 3 In the context of shareholder litigation, critically discuss the main differences between the rule in Foss v Harbottle and the statutory derivative action introduced by the Companies Act 2006