A Research On Trust Of The Right To Equity Interests

The so-called "trust of the right to equity interests" refers to the practice that the shareholder transfers his/her right of equity interests to the trustee,who is then entitled to manage or dispose of the equity interests for a specific purpose set forth in the trust agreement.In the trust agreement, the trustee is entitled to the right of equity interests,but the shareholder remains entitled to other shareholder rights.In other words,it is a separation of the right to equity interests and other shareholder rights.The trust of the right to equity interests is new trust product that emerges in China in the last few years.It is a combination of trust practice and enterprise operation.Its advent has challenged the traditional theories in Trust Law and Company Law.However,so far there has been few study or research done on the subject,which gives rise to questions on the risks of the implementation and promotion of such trust practice.This thesis tries to improve the general understanding of the trust practice,and shed some light on the standardization and promotion of such practice through analyzing current trust system from the perspective of basic theories and legal relations in case studies.The thesis consists of three major parts,the introduction,main body and conclusion,among which the main body is divided into four chapters:The first chapter is a general overview of the trust system of right to equity interests.First,a definition is given on the trust of right to equity interests.And a case study is used to exemplify the operation model of such trust practice.Then the trust practice compared with other similar trust products. The second chapter analyzes the trust practice from the perspective of basic theories.The chapter is dedicated to the theoretical justification of the trust practice,and composed of two subparts,i.e.the analysis of the right to equity interests as a trust property and the double-layer structure of the trust of the right to equity interests.The third chapter analyzes the functions of the trust,and points out the problems in the current practices.The last chapter attempts to construct and analyze the legal system for the trust of such right.The chapter tries to explain the design of the trust of such right,elaborates on the effectiveness of such trust,and analyzes the obligation and rights of all parties involved,and provides suggestions on the standardization of the practice and relevant law making.