Pledge Of Rights Of Publicity System

The Real Right Law of the People's Republic of China has substantially revised the part of right pledge of Security Law. In addition to expanding the rights of the scope of right pledge (such as the fund share, accounts receivable, etc.), the publicity of the right pledge has done a larger adjustment. On the one hand, such an adjustment is in line with the updated theory. The Real Right Law recognizes the principle of distinction, reflected in the Real Right that is on section 9, 15. On the other hand the different way of publicity with the rights of various types, depending on their characteristics respectively, is to maximize to exert the effect of the right pledge and to facilitate the actual operation.However, the regulation of publicity of the right pledge in the Real Right Law is too simple to be lack of interoperability. Therefore, further research and legislation should be needed to implement the publicity of the right pledge. The legislation confirmed different types of publicity methods for different rights, which is mainly registration, but the existing theoretical studies have failed to provide a strong support for the publicity of the right pledge, which does not explain theoretically the reason of selecting registration or delivery as a public method. In addition, the current practice of publicity system exist inadequacies, which seriously affected the right pledge. This dissertation expands discussion starting on two parts: the general theory and sub-theory.The first four chapters as the general part of this dissertation explore on the historical development of publicity of the pledge on right, comparative law of the publicity system of the pledge on right, the general rules of various publicity methods and its economic analysis. The last four chapters as the sub-part review the different methods of publicity in the Real Right Law. The target of analysis is not limited to the provisions of the Real Right Law, but also the rules and regulations enacted by different authorities and the practice, which is to explore whether there is room for improvement of amending the law in the future and provide possible options.Chapter I explores the general theory of publicity of pledge on right. It analyzes the historical development of publicity of property, particularly the publicity of pledge on right from the Roman law on the relevant system, explores the reason that such publicity system formed today, and focuses on analysis of the development process of the publicity system in China.Chapter II compares and reviews the institutional differences in civil law and common law, represented by Germany and the United States respectively from the perspective of comparative law analysis. The former take a decentralized way in publicity of pledge on right. A general provision that the publicity of transfer property is applied to the publicity of pledge on right makes up requirement of publicity of pledge on right. The publicity in the U.S. is based on the Uniform Commercial Code, Article 9. A uniform secured transaction was established based on the"security interest"in tangible and intangible property and a unified national registration system in the U.S. is complicated with abolition of the various security systems. The Article 9-type filing system promotes information exchange and acts as a"bulletin board"by providing credit information to interested parties. In this paper, the reference of its useful components, would like to give a reference for analyzing and reviewing the relevant theory and practice in China, based on a comparative analysis of the advantages and disadvantages between the two different systems.Chapter III explores some basic questions of publicity of pledge on right. It attempts to form the general framework of publicity of pledge on right on the basis of explaining the general rules of publicity of pledge on right including possession, delivery and registration by the general principle of publicity in the Real Right Law.Chapter IV explores the efficiency of the publicity of pledge on right by economic approach. Compared to the other systems in civil law, the publicity could be a more technical system, less involved with ethics. Therefore, the application of economic analysis should help us re-examine the system.Chapter V explores the publicity of pledge on securities. The publicity methods become delivery or possession of the paper after rights securitization, representing the delivery or possession of the rights. It explains how to realize such delivery and possession and the relationship with endorsement. In addition, it takes the pledge of warehouse receipts as an example to make a brief description of the delivery of warehouse receipts in the pledge process and the related specific procedures. With the development of electronic technology and internet, paperless securities rights emerged, which results to the development of electronic registration as public method, this chapter studies on the authorities, process, content and effectiveness of such registration.Chapter VI discusses the publicity of pledge on fund share and equity. This chapter reviews the relevant rules and practices of the scope, principal, content, procedures of registration on the basis of investigation on rules and operations in China securities depository and clearing corporation limited, stock exchange, the industrial and commercial administration department and other agencies of the registration.Chapter VII explores the publicity of pledge on intellectual property. This chapter explores the scope, procedures and other basic questions of registration and points out the issue of publicity resulting from the distinction in the rights transfer between patent, trademark and copyright on and the at the same time on the basis of investigation the rules and operation of the three authorities, combined with general theory of the publicity of pledge on right.Chapter VIII explores the registration of pledge on accounts receivable. It researches the basic problems combined with"the Rules of Registration of Pledge on Accounts Receivable"of the PBC, the accounts receivable pledge registration system in the United States and the general theory of pledge registration.