The Protection Of The Rights And Interests Of Minority Shareholders Of Listed Companies

In the past few years, cases of infraction to those middle and small shareholders of public company happened very often and become even worse recently. This situation lies on the fact that the Chinese laws and regulations are still lacking in the restriction to the big shareholders and some special protections to the middle and small shareholders, which would not ensure and protect the rights and interests of the middle and small shareholders. This article is trying to suggest how to establish the protection system for the middle and small shareholders' rights and interests according to the current laws and regulations, by means of comparing and analysis, also referring to those advanced oversea systems. The protection and guarantee system of middle and small shareholders' rights and interests should be built from both noumenon and formality sides through the establishment of accumulative ballot, large shareholder vote confine, shareholder proposer right, shareholder meeting convoking right and shareholder derived litigation right systems. Three main parts, introduction, body, and conclusion consist in the article, among which the body has been divided into four parts. The first part is the presentation of the problem. The inevitability of damages to those middle and small shareholder, status quo, the interest and limit of the adopted instructions, and the signality of middle and small shareholder right protection research are analyzed in this part. The second part mainly makes some research upon how to protect the rights referring to some overseas advanced laws. In this part, the interest and limit of accumulative ballot, large shareholder vote confine, shareholder proposer right, shareholder meeting convoking right and shareholder derived litigation right systems are detailed discussed while being applied in foreign countries. The third part provides some reference to protection procedure method for middle and small shareholders' right and interest. Appliances of shareholder derived litigation systems in various countries are given detailed analysis and comparison. The forth part tries to explain how to build our own middle and small shareholder protection system. Some legislative advices for accumulative ballot, large shareholder vote confine, shareholder proposer right, shareholder meeting convoking right and shareholder derived litigation right systems in our country are given. The article comes to the conclusion that the amendment of our "Company Law" is general course of development, and the building of middle and small shareholder of public company protection system is an urgent affair. The rights and interests of the middle and small shareholders are protected feasibly by accumulative ballot, large shareholder vote confine, shareholder proposer right, shareholder meeting convoking right and shareholder derived litigation right systems, which are applied in our country.