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This is because it covers only interest payments, not dividends, and only natural persons, not companies.
Only natural persons who are UK residents and citizens should be allowed to become directors of companies.
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The most important innovation of this directive is probably the fact that it applies not only to natural persons but also to corporate persons.
This directive is different from the other one in that it applies not only to natural persons but also to the protection of corporate persons, and the Committee on Legal Affairs did not disapprove of extending the protection in this way.
The proposed amendment to the constitution specifies that constitutional rights apply only to "natural persons" and thus would deny "all corporate entities for-profit and nonprofit alikentities for-profitrotections.
So far as the incidence of responsibility is concerned, while in law the relevant causes may be human or animal behaviour or natural events or processes, legal responsibility attaches in modern law only to natural persons (human beings) and juristic persons such as states, corporations and other institutions to which personality is ascribed in law.
Yet, January 21 will mark the one-year anniversary of the Supreme Court's 5-4 decinion in Citizens United, which elevated constitutional protection for corporations' political speech to the level previously recognized only for natural persons.
"Only a natural person," Justice Sotomayor wrote, "can be a victim of torture or extrajudicial killing".
Its cloudy origins make room for creative interpretation by human-rights campaigners and companies alike and have caused much confusion in the courts.That can be seen in the strongly worded dissent written by Judge Pierre Leval in the New York case on the central question of whether corporations are covered by international laws that explicitly mention only states and natural persons.
The former hold that only individual agents or natural persons can be properly held responsible, while the latter hold that some collectives do count as subjects of responsibility (cf. Mathiesen 2006; Pettit 2007b; Hindriks 2009); depending on context and group size, there may be a number of tenable intermediate positions on this spectrum.
But if Proposition 49 does make it back on the ballot, voters will not be making law if they decide to support its proposal for an amendment to overturn Citizens United and "make clear that the rights protected by the United States Constitution are the rights of natural persons only".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com