The Research On The Shareholder's Right To Vote In A Limited Company

AbstractAs fOr the practice of the reform of our country's stoCk system, the shareholder's right ina limited company has been more and more known and attahed great importance. How toexercise the right to vOte in the sharehoIders' meeting becomes the key to protect their righ tovote. On the basis of the research on the voting right of the sharehoIders in a lirnited company,this articIe reviews the concept, proPerty and calculation of shareholder's vOting right; Also,the article deals with the use of shareholder's right to vote as well as the limitation of the right.Part I ConcePt QndProprty Of the rdet tO voIefOr sharehothers In this part, the authorexplains the concept of the right to vote for shareholders, i.e., the right is held by theshareholders just according to his position. The sharehoIder can show his opinion by the righton the acts discussed in the shareholder's meeting. The right is public beneficial, fixed andindependent. It is a kind of civil rightS.Parl 2 CalcuIation Of the rdet tO vote for sharehothers This part explains in detail theprinciple for one share one vote system according to the company act of our country and alsotells the calculation methods for non-voting share, the share with vote of majority and theshare with accumulative vote on the basis of both foreign legislation and our company act.With the increasing deveIopment of limited company and the differentiation of theshareholders, it is essential to admit the establishment of the non-voting share. According tothe one vote one share principle, the share with vote of majority shou1d not be allowed to exist.However, for its useful role in defending the benefit of both company and society the sharewith vote of majority should be set up in particular. As for the share with accumulative vote,there are no special regulations about it. But, in order tO protect the benefit of the shareholdersin minority the right for accumulative vote should be sPecified in our company law whenvoting for a chainnan or a suPervisor in the limited companyPart 3 Exercise OfshareholderX rdet to vote This part anaIyses the legal proPerty ofthe exercise of shareholder's righ and puts fotward the view of using consciousness instead ofwhat you wiIl say The fOur exercising methods for voting right (i.e., exercising by oneself,lllexercising by agent, voting by written words and voting trust) have also been discussed one by one in this part. Exercising by oneself is the basic form used by the shareholder to show their voting right. With the reference of company acts in the world, the article discusses deeply the qualification of agent, the number of agent, the awarding of agent and so on. Besides, this part puts forward some maneuvers and suggestions for improving and strengthening our company act. Voting by written words is a better method for exercising the voting right when the shareholder feels difficult or cannot attend the shareholders?meeting. In our country, the voting trust system is not established right now. The article deals with some concepts, characteristics, establishment and limitation of the system.Part 4 Limitation of shareholder ~ right for vote In this part, the author tries to compare the company acts of both foreign countiy and Taiwan and goes in deep discussion about some voting problems which are not specified in our current company act. It is just on purpose to prevent the major shareholders from controlling the market. All the voting limitations include those on the company抯 own shares, the sub-company抯 shares and the independent company抯 shares jointly attended. The article gives out some essential measurements for our company act in improving and strengthening the limitations for the voting rightS of shareholders.