User blog comment:Lord Andrew Mallace/Act of Parliament: Concerns towards the EITC/@comment-7085133-20150731163042/@comment-3432656-20150731185350

We can technically do whatever we desire to the EITC, with an Act of Parliament.

Walmart didn't go to the President and ask for his sponsorship/permission to establish their corporation in America. What do you think that would look like? American soldiers working as cashiers? American tax dollars being allocated for Walmart's expansion into Mexico? That isn't how joint-stock companies function. You clearly have no idea how the EITC was even formed. Allow me to educate you;

"The best known example, established in 1600, was the British East India Company. Queen Elizabeth I granted it the exclusive right to trade with all countries to the east of the Cape of Good Hope. Corporations at this time would essentially act on the government's behalf, bringing in revenue from its exploits abroad. Subsequently the Company became increasingly integrated with British military and colonial policy, just as most UK corporations were essentially dependent on the British navy's ability to control trade routes on the high seas."

The East India Company became dependent on its mother country. If you were not aware, Samuel got into a little argument with the King, after he threatened to have him replaced. Tensions grew, there was a massive split. It was either you were with the King, or you were with Samuel. The second English civil war was about to begin. But, fortunately there was never any battles, the King unable to speak for himself, had to make amends with Samuel. In the end, Samuel kept his job.

I saw it as treason, as did many others. A trading company holding the King of Great Britain by a leash. That is what happens when you invest your entire military force under one man.

Oddly enough, a month or so later, Samuel was terminated, and I was left in command. I sought to work with the King, and never against him.

There was no clear Act of Parliament made, declaring the East India Company, under the sole ownership of the government. It was just at that time, I was the "Lord Governor", and Chairman of the Court of Directors. Samuel's assets were returned to him, or his "son" upon my appointment as Prime Minister.