Bubble Act
The Bubble Act 1720 (also Royal Exchange and London Assurance Corporation Act 1719) was an act of the Parliament of Great Britain passed on 11 June 1720 that incorporated the Royal Exchange Assurance Corporation and London Assurance Corporation, but more significantly forbade the formation of any other joint-stock companies unless approved by royal charter.
| Act of Parliament | |
Parliament of Great Britain | |
| Long title | An Act for better securing certain Powers and Privileges intended to be granted by His Majesty by Two Charters for Assurance of Ships and Merchandizes at Sea, and for lending Money on Bottomry; and for restraining several extravagant and unwarrantable Practices therein mentioned. |
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| Citation | 6 Geo. 1. c. 18 |
| Territorial extent | Great Britain
Later extended to American colonies, including:
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| Dates | |
| Royal assent | 11 June 1720 |
| Repealed | 5 July 1825 |
| Other legislation | |
| Amended by |
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| Repealed by | Royal Exchange Assurance Act 1901 |
Status: Repealed | |
| Text of statute as originally enacted | |
| Bubble Schemes (Colonies) Act 1740 | |
|---|---|
| Act of Parliament | |
Parliament of Great Britain | |
| Long title | An Act for restraining and preventing several unwarrantable Schemes and Undertakings in His Majesty's Colonies and Plantations in America. |
| Citation | 14 Geo. 2. c. 37 |
| Dates | |
| Royal assent | 25 April 1741 |
| Repealed | 15 July 1867 |
| Other legislation | |
| Repealed by | Statute Law Revision Act 1867 |
| Relates to |
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Status: Repealed | |
| Text of statute as originally enacted | |
Its provisions were extended later by the Bubble Schemes (Colonies) Act 1740 (14 Geo. 2. c. 37) to include its colonies, particularly Massachusetts.
The act gave the South Sea Company a monopoly over British trade with South America until the South Sea Bubble "popped" in Britain's first major stock market collapse.
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