Bubble Act

Royal Exchange and London Assurance Corporation Act 1719

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.
Citation	6 Geo. 1. c. 18
Territorial extent	Great Britain England and Wales Scotland Later extended to American colonies, including: Massachusetts
Dates
Royal assent	11 June 1720
Repealed	5 July 1825
Other legislation
Amended by	Bubble Companies, etc. Act 1825
Repealed by	Royal Exchange Assurance Act 1901
Status: Repealed
Text of statute as originally enacted

The Bubble Act 1720 (also Royal Exchange and London Assurance Corporation Act 1719)^[1] 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.

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Repealed	15 July 1867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Repealed by	Statute Law Revision Act 1867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	Royal Exchange and London Assurance Corporation Act 1719
Status: Repealed
Text of statute as originally enacted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)^[2] to include its colonies, particularly Massachusetts.^[3]

The act gave the South Sea Company a monopoly over British trade with South America^[4] until the South Sea Bubble "popped" in Britain's first major stock market collapse.