On The Cancellation Of Shareholders' General Meeting Decision

As a gloable precident,the Cancellation of Shareholders' General Meeting Decision has been widely adopted since mordern ages.It simply means the measure for curation while the procedure or content of the Shareholders' General Meeting is defected.It is aimed to protect the jurisdiction of the Shareholders' General Meeting.Never the less,the authority of Shareholders' General Meeting has been adoubted nowadays,the cancellation system of Shareholders' General Meeting Decision therefore has become a popular argument.The reasons are as following:Firstly,the demacracy of Majority Shareholders Decision principle, as a matter of fact,is the democracy of capital;Secondly,the power transition from the Shareholders' General Meeting to the Board of Directors has cut down the position of Shareholders' General Meeting,it is now grudually turned into a symble organ,.Of course, this does not means the system itself will die out,the Meeting is still the power foundation of companies,it is still the place the shareholders may seek for democracy.Therefore,our job is to improve the system and cure its defections.The rights of shareholders,especially the minorities,will be protected by the amendment of the procedure and decision system.For the first time,the cancellation system has been recognized through the 2005 Company Law,it is identical with mordern legislation,the protection of minority shareholers has been improved by several measures.However,the limitation of cancellation subjects and the obscure legal rights of sentencements are still bolcking on the way of the democracy of shareholders.All these are to be mended by further legislation.