City of London Corp.: Everything You Need to Know

It’s a governing body made up of🌠 125 elected representatiไves that exercises the powers of a local authority

澳洲幸运5官方开奖结果体彩网:Adam Hayes

Updated March 11, 2025

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Samantha Silberstein

Fact checked by

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Picture of buildings in the City of London's financial district including the Gherkin building. — Alexander Spatari / Getty Images

Definition

The City of L🍃ondon Corp. is the governing body of the City of London, also known as the Square Mile, which is the financi🧸al district of London.

What Is the City of London Corp.?

The City of London Corp., also known as the Corporation of London, is the governing body for the Square Mile, better known as the City of London (or just “the City”), the historical and financial district of London. It ha🅺s a unique status, covering an area of 1.1 square miles at the heart of Greater Loꦆndon.

The City, as it is colloquially known, is considered to be the world’s oldest continuous municipal government, with a history that extends over 1,000 years. It therefore should not be confused with the Greater London Authority, which covers the whole of the much larger London metropolitan area in the United Kingdom.

Historically, the City was the enti🗹re extent of London, but as the metropolis grew, it became incorporated as just one part of it. The corporation was established in medieval times, and despite reforms and changes over the centuries, many ancient offices and traditions are still observed today.

Key Takeaways

The City of London Corp. is the governing body for the City of London, also known as “the City,” the historic and financial district of London. It is at the heart of Greater London.
The City is the world’s oldest continuous municipal government, with over 1,000 years of history.
The City of London Corp., also known as the Corporation of London, functions as both a local authority and a ceremonial county, with two primary decision-making bodies: the Court of Aldermen and the Court of Common Council, made up of elected Aldermen and Common Councilmen.
The City of London Corp.’s responsibilities extend beyond those of a typical local authority, including managing open spaces, operating the central criminal court, running London’s wholesale food markets, and promoting London as a leading global city for international trade and finance.
The corporation is incorporated and manages the “City’s Cash” fund, a fund built up over centuries, used for activities not covered by taxpayer money.

How Does the City of London Corp. Work?

The City of London Corp. functions as both a local governing authority and a ceremonial committee. It has two primary decision-making bodies: the Court of Aldermen and the Court of Common Council. These two bodies oversee the strategic direction and decision-making processes of the City of London Corp.

The Court of Aldermen is composed of the Aldermen of the City’s 25 wards. An alderman is a member of a municipal assembly or council, found today in many jurisdictions. The term originated in the early medieval English boroughs and “s♎hire” counties where the alderman was a leader of a territorial unit or locality, similar to the role of a mayor.

Aldermen serve a term of six years, after which they can be reelected. Among their duties, Aldermen also play a significant role in choosing the Lord Mayor of London, an annual position in which the occupant acts as the symbolic head of the City of London Corp. Aldermen also serve on the Court of Common Council committees and act as governors and trustees of a variety of schools, hospitals, 澳洲幸运5官方开奖结果体彩网:charitable foundations, and trusts with connections to the City of London.

The Court of Common Council consists of 100 Common Councilmen, elected by the residents and busi🐎nesses of the City. It is the City of London Corp.’s primary decision-making body, and it usually meets every four weeks. Its main business focuses on the reports of committe🐠es and members’ questions and motions.

The Court of Common Council works through committees, like any other local authority, but it is unique in that it is politically nonparty. Each ward is represented by two to 10 members, depending on the size of the electorate.

City of London Corp. Responsibilities

The City of London Corp. has three main functions: to support and promote the City as 澳洲幸运5官方开奖结果体彩网:a leading global financial and busineꦬss hub, to provide local government services to the residents and businesses of the Square Mile, and to manage a range of assets and open spaces for the benefit of London and the nation. Some of its responsibilities include:

Providing police, fire, and environmental services
Maintaining roads, bridges, and street lighting
Regulating markets, licensing, and trading standards
Supporting education, culture, and heritage
Managing parks, gardens, and green spaces
Supporting charities and community organizations
Hosting state and civic events

In addition to the usual duties of a local authority, like⛦ garbage collection and maintaining streets, it also has some unusual roles due to its historical status.

These include managing open spaces like Hampstead Heath and Epping Forest, operating the central criminal court (Old Bailey), running London’s 澳洲幸运5官方开奖结果体彩网:wholesale food markets (Billingsgate, Smithfield, and New Spitalfields), and operating the Barbican Centre, the Guildhall School of 🌌Music and Drama, and the Museum of London.

City of London Corp.’s Mission

The City of London Corp.’s mission is to provide high-quality public services to its residents, workers, and visitors. It also aims to support and promote London as a leading global city, particularly as a hub for 澳洲幸运5官方开奖结果体彩网:international trade and finance.

City of London Corp. Organizational Structure

The Ci🥃ty of London Corp. ꦿconsists of several key members and entities:

Lord Mayor: The Lord Mayor is the head of the corporation and serves as a key representative both in the U.K. and abroad. They promote the U.K. as a place for business and financial services.
Remembrancer: One of the City’s four law officers. This office is responsible for the protection of the City’s constitution. The role was created in 1571. The office acts as a liaison between the City and the U.K. Parliament.
Aldermen: There are 25 Aldermen, one for each ward of the City. They have a range of responsibilities, including being magistrates.
Sheriffs: The office of the sheriff is the oldest official position in London. The name derives from the Shire-Reeve who exercised the king’s authority over the citizens, collecting royal revenues and enforcing royal justice. There are two sheriffs elected annually who support the Lord Mayor in the Lord Mayor’s judicial role. It is customary for one or both of the sheriffs to attend the Lord Mayor on the Lord Mayor’s official occasions at home and abroad.

Liverymen: Members of the City’s livery companies (i.e., guilds), who play a key part in the City’s governance, including the election of the Lord Mayor and the sheriffs. Some livery guilds can trace their origins back to the 12th century, with the earliest charter still in existence being granted to the Weavers’ Co. in 1155. Today, there are more than 100 liveries, and though trading conditions have changed since their inception, their work is as pertinent as it always has been.
Freemen: The Freedom of the City, an honor bestowed by the City of London Corp., is the first step to becoming a liveryman.
Committees: The work of the corporation is undertaken through a number of committees that meet regularly throughout the year, dealing with matters such as planning and transportation, markets, police authority, etc.
Common Councillors: The 100 Common Councilmen are elected by the residents and businesses of the City and form the bulk of the Court of Common Council.

What Does the City of London Corp. Do?

The City of London Corp. is the municipal governing body of the 澳洲幸运5官方开奖结果体彩网:City of London neighborhood, the historic center of London, and the location of much of the U.K.’s 澳洲幸运5官方开奖结果体彩网:financial sector. The corpora🅺tion provides local government services for the City of London, manages a range of public services, promotes London as a financial center, and maintains historical and open spaces.

What Is the Legal Entity of the City of London?

The City of London Corp. is a sui generis (unique) local authority for the City of London. It has the status of both a local council and a ceremonial county. This means that it has some powers and responsibilities that are different from other local authorities in England.

For example, it has its own police force, the City of London Police, its own courts, the Central Criminal Court (also known as the Old Bailey), and the Mayor’s and City of London Court. It also has some special privileges and exemptions, such as being exempt from the Freedom of Information Act and the Human Rights Act. The corporation is not accountable to the U.K. Parliament or the mayor of London but to its own electorate and members.

Is the City of London Incorporated?

Yes, the City of London is 澳洲幸运5官方开奖结果体彩网:incorporated. The term “corporation” in its name denotes this. It functions similarly to other municipal corporations but also has unique aspects due to its histo🦩rical status and specific role in the governance of the City of London. It is not a corporation in the sense of a business entity, but rather a local governing authority.

How Much Money Does the City of London Corp. Have?

The exact amount of money that the City of London Corp. has can change each year and is not usually publicly disclosed in full. The corporation holds a “City’s Cash” fund, which has been built up over the past 900 years and is used to fund its activities that are not covered by taxpayer money. According to its 2024 financials, the corporation held assets worth £2.1 billion, of which £47.2 million was cash.

The Bottom Line

The City of London Corp. holds a unique position in the governance of ♈London and the U.K. more broadly. Rooted in a rich history, it not only serves as the municipal authority for the City of London but also takes on responsibilities that far outreach those of a typical local council.

Understanding the corporation’s structure and roles provides a fascinating insight into the blend of tradition⛦ and modernity that characterizes the governance of the City of London.

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