The Voting Trust System In The Share Acquisition

Voting Trust, which has been extensibility used in the company as a trust, first produced in the United States in the nineteenth century, and gradually accepted by civil law countries, such an Japan, Korea and Taiwan of China. In our country, the voting trust has not been expressly provided in law, but under the existing "Trust Law ","Company Law "and "Securities Law" , voting trust has the actual conditions of use and examples.As an instrumental system, voting trust can be applied to protection of minority shareholders, the state-owned assets restructuring and other fields. This article, which has four chapters, is about the voting trust in the field of stock acquisition. Chapter One, Overview of Share Acquisition and Voting Trust. The chapter mainly introduces the basic contents of the acquisition of shares and voting trust. This chapter aims to lay the theoretical foundation and limit scope of the study for the following analysis.Chapter Two, the Rationality of Voting Trust used in the Share Offer. Firstly, clarifying the interests balance function of voting trust and the basic contradictions in share acquisition. Then, making use of the methods of conflict analysis and economic of law to resolve the basic contradictions. This chapter aims to show the positive sense that voting trust can be used to solve problems that may occur in the share acquisition.Chapter Three, the Applying Practice of Voting Trust in the Share Acquisition. The first part is voting trust's development and rules in the USA. The second is voting trust in Japan, Korea and Taiwan of China. The key points are the feasibility of voting trust in current Chinese situation. The chapter also gives two typical cases in China. This chapter aims to show that voting trust can be used in Chinese share acquisition.Chapter Four, the Regulation Design of Voting Trust in China. It mainly provides voting trust the basic elements as a law, such as the conditions for the establishment and effective, the rights and obligations of the parties in the legal relationship of voting trust and the conditions and effects of termination. This chapter that based on the third chapter designs the basic rules to protect the parties'rights.