Legislative Improvement Of Special Purpose Trust In China

A Special Purpose Trust is a kind of trust which is set up for a complement of a special purpose. In contemporary society ,this kind of trust has been found largely in the field of asset securitization. The mainly legislative improvement of this kind of trust in U.S exists in the creation of varies ways of doing it. At the same time, the new <Trust Law of Japan>, at the first time, breaks through the "Law of Special Beneficiary" by a chapter, and distinguishes a Public Trust and a Special Purpose Trust for a community, drawing people's attentions to it. At the mean while, the new <Trust Law of Japan> regulates issue,circle and investment of the warrant of the Special Purpose Trust rigidly, taking the circulation of the warrant of the Special Purpose Trust into a brandy new level.The Alpha Practice of a Special Purpose Trust in China can be traced back till 1992 with a enormously legislative improvement in theories and regulationgs.However, Laws concerning the Special Purpose Trust in China is far from the perfection.A lots of flaws can be spotted in them, for examples,the forms of Special Purpose Trusts putted into practice are monadical, the puzzle of the transfer of a trust property,the limitation of the existing time and so on.In order to fix these flaws ,we'd better, at first, understand the reason why Spercial Purpose Trust is more suitable to China Laws System than the Special Purpose Corporation and other forms. And also, specific suggestions on some problems would be beneficial to the improvement of the law system. Such suggestions would include items as warrant circulation protection, time limitation of this trust, adjusting the demand of goal-setting, and improving the protection of legal subject by means of share holder, supervisor and beneficiary conference setting. Then, boosting the legislative improvement of special purpose trust in China based on solving of these flaws.