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The Opinion on Legislative Perfection of the System of Shareholder Representative Legal Action

Author: LiYingZuo
Tutor: ZhengBuYing
School: Zhejiang Normal University
Course: Civil and Commercial Law
Keywords: Shareholder Representative Litigation Comparative Law Perfection of Legislation
CLC: D922.291.91
Type: Master's thesis
Year: 2010
Downloads: 110
Quote: 1
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Abstract


China's newly revised \After nearly 200 years of history of the development of the system of Western countries, known as the \Our shareholders on behalf of the litigation system provides a more general lack of program specification and systematic provisions, judicial practice operability is not strong. Departure from the angle of corporate governance, the balance of interests, by the legislation at home and abroad, the study of the relevant legal principles, the improvement of this system in our country own humble opinion. The first chapter expounds the origin and meaning of the litigation on behalf of shareholders. Shareholder Representative Litigation System in the common law system, the introduction and development in civil law. Of the system was introduced in 2005, but only the initial framework of the system is constructed. The chapter also analyzes the characteristics of the Shareholder Representative Litigation System direct litigation and shareholder representative action with the shareholders of the Company carried out a detailed comparison. The second chapter of shareholders Representative Lawsuit theoretical basis. Subrogation said the membership rights of beneficiary and shareholders the right to speak four shareholder representative suit filed legal basis of the right on the entity; legal basis for the program on the main proceedings play theory on the litigation guardian theory program parties theoretical three. I quite agree with the shareholders the right to say and procedures the parties theory. Chapter perfect our shareholders on behalf of the litigation system main legislative proposals. China, depending on the company form of organization of the litigation filed on behalf of plaintiff shareholders in the number of holdings and holding time on the different provisions. I believe that: Law in China should also increase the \In addition, China should also detailed requirements Corporation shareholders \For the defendant, the liberal model provisions that include not only internal staff, also include any third party against the interests of the company. About the company's litigation position, should break through the traditional civil parties to participate in the system, as the independent status of the litigation participants shareholder representative action. The other shareholders in the company can participate as a co-plaintiff litigation claims, but can not increase. Chapter Shareholder Representative Litigation System actionable behavior legislation put forward suggestions for improvement. Justiciability of behavior provisions of the Companies Act of litigation on behalf of shareholders general terms, I believe that should be taken to be summarized and cited a combination of prescribed manner, in addition to Article XX of the Companies Act, one hundred fifty and a hundred 153 of provisions should also cited the fiduciary duty of the controlling shareholders, directors, supervisors and other person within the company as well as the company, and the introduction of the \Chapter Shareholder Representative Litigation System program improvement measures. Through the comparison of domestic and international legislation, combined with China's legislative and judicial status quo, mainly on the pre-program, the cost of litigation guarantee, the review of the outcome of the litigation's commitment to the settlement of litigation, jurisdiction, legislative Suggestions Joinder of counterclaims and other procedures. Shareholder Representative Litigation System sound system also involves supporting modification of the \litigation costs and litigation risk control within reasonable limits, to really play the balance of the company and shareholders, the role of interests between shareholders and management, of the Western countries 'genius' invention in China to show its charm .

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CLC: > Political, legal > Legal > Chinese law > Economic Law > Corporate law, company law
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