George V
George V (1865-1936), King of the United Kingdom and Lord of Mann from 1910 to 1936.
Manx company law took its modern shape in the first year of his reign. The Companies (Consolidated) Act of 1910, cited as 1 George V, drew the earlier statutes together: the Act of 1817 requiring bankers to be registered and regulating notes payable on demand, and the Act of 1865 which admitted the principle of limited liability. Under that principle the most a shareholder could lose in a company failure was the amount of the shares subscribed, where before every shareholder had been answerable for a portion of the whole debt.
His reign saw the Island used extensively for the internment of civilian prisoners during the First World War, most notably at the large camp at Knockaloe, near Peel.
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