Published on : Monday, November 4, 2013
When first announced in May by the Master, Jonathan Hindle, that a Royal Charter had been granted to the Worshipful Company of Furniture Makers, he said ‘This Grant changes our status from a Livery Company operating under Letters Patent from the Lord Mayor (on behalf of the Corporation of the City of London) to a Livery Company incorporated by Royal Charter. Incorporation makes us the equivalent of a limited company with any ultimate contractual liability being that of the Company and not its Trustees and Members.
We now join the ranks of the other, on the whole more senior, Livery Companies which are similarly incorporated. The Grant can also be seen as a recognition by Her Majesty’s Government of our Objectives, the manner in which we are achieving them, and of our considerable financial strength. It should be noted that Royal Charters are granted by the Monarch, exercising the Royal Prerogative, usually to create a Body Corporate or a Corporation Sole with its own objects and powers, as is the case with us.
Typically they are used to establish a significant City or University or Company. A Royal Charter is not to be confused with a Royal Warrant. A Royal Charter is much more significant and has perpetual effect. The monarchy has conveyed only 980 Royal Charters. The earliest is Tain the oldest Scottish Burgh (borough) in 1066, followed by the University of Cambridge. Other notables are The British East India Company, The British South Africa Company, P&O, the BBC and The Bank of England.
Tags: Her Majesty’s Government, Jonathan Hindle, Master, Royal Charter, The British East India Company, The British South Africa Company
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