On Legal Issues And Regulation Of Equity Trust

Nowdays,Trust system not only has been maturely developed in the common-law system and also has been widely applied in the comparatively conservative civil-law system countries .Varieties of trust modes has appeared in the practice after the Trust Law of P.R.C was in effect.Among them,the share right trust as a new kind of trust business has occurred recently, which takes ownership of a share as the trust property and bears some functions of share right management, investment and finincing, and owns obvious advantages in the application to the employee share and MBO, share right investment, share right merger and financing.However,the current practice in China is in a little disorder.On the one hand,various kinds of share right trust come out ceaselessly, on the other hand,the construction of legal syetem in the field lags behind the pratice,and the laws or regulations with respect to share right trust have to be improved.Therefore, in order to further development of business in share right trust, it is necessary to make farther improvement on related rules and policies.The legal principle and practice of share right trust is discussed systemically in the way of comparative study and case research in order to arouse more attention and encourage solutions to the problems.First of all, a description on the basic concept , classification and features of the share right trust are presented. Then the thesis traced back to the orgin of the trust system, introduced the development course of share right trust in Anglo-American law system ,the continental law system and China, which has given a general description on the share right from the macroscopical point.Secondly,the thesis analyzes the particular advantages of the share right trust ,thus demonstrates the necessity of the introduction of the system into China.This kind of trust may perfornance some useful functions such as investment, financing, management,and it has some same points and big difference when it is compared with the following system:vonting proxy, commission, anonymous shareholder, funds trust and so on.The emergence of some so-called" share right trust income plan" in practice resulted in conceptual confusion, which needs to be clarified.Thirdly, from point of the company law and trust law ,the thesis discusses the possibility of establishment of share right trust in China.The share right's charater, standpoint overview and evaluation are analyzed in focus. Then property, characteristic and scope of the trust property is detailed illustrated .Therefore theconclusion can be reached that of a share right may become trust property.Fourthly, the author is trying to make use of the current theories and practice, analyse legal relationship of share right trust, systematically elaborate respectively of right and obligation from the point of the client,beneficiary,trustee,then bring forth legislation suggestion in which the form,period and purpose of the trust contract establishment is speficied and the registeration and validity of trust are conceived.The lastly, on account of the current situation of state-owned share right management system, the thesis analyses the existing problem, attends to apply the system of share right trust to the state-owned share right reform.