The Reseach Of Transferring The Stock Right Of Hidden Shareholders

In the reality life, anonymous investment is a quite common phenomenon on which there are detailed regulations in The Corporations Law of the People's Republic of China (C) by the Supreme Court. In the case of anonymous investment, an anonymous investor is separated from the actual one, which can lead to disputes easily when it comes to the third person in particular. The disputes, which are caused by the anonymous or apparent shareholders'transferring their ownership to a third party without authorization, embody the complexity of anonymous investment. Such disputes, as confusing problems either in the judicial practice or in the academic field, involve not only the provisions on share transfer of Corporations Act, but also the conformation of eligible anonymous shareholders. Meanwhile, such disputes bring about a contradiction between the protection of the real interests of right holders and the protection of the interests of bona fide third due to a third person outside the company.This article is divided into three parts. The first part summarized basic theories of anonymous shareholders and legal regulations. The second mainly stated the relationships between anonymous shareholders and relative interests'objects. The third part analyzed two types of disputes caused by the apparent or anonymous shareholders'transferring their ownership to a third party. This article has employed the comparative analysis through which the author has comprehended the different solutions to the same problem, introduced various theories and made a contrast. Finally, the author holds that it is more reasonable to describe the relationship between apparent shareholders and anonymous shareholders as a similar legal relationship such as trust than previous loan contract for consumption and commission contract.On the basis of the discussion on anonymous shareholders'basic theories and legal relationships between anonymous shareholders and other objects, the author has put forward personal view on how to deal with such disputes by relating to the latest judicial interpretation and combining with the case handled the author personally.