On The Voting Trust System

Voting Trust refers to one or several shareholders will transfer their holdings of company stock to one or several professional trustee, the trustee to exercise its voting rights in the company, while he reserves the right to vote outside shareholders’rights a trust. Voting Trust is a trust in the use of corporate law, an indirect exercise of voting rights. It originated in the United States, after100years of development has been quite perfect. Play a huge system of value in the maintenance of corporate governance and stability, bankruptcy and reorganization financing, and protect the rights of minority shareholders.China has the right to vote the Trust’s practice to try, but no voting trust legislation and regulations. This article hopes to establish a Voting Trust system in China to put forward reasonable proposals of theory and practice of the Voting Trust. This article is divided into three parts:The first part:theoretical overview of the Voting Trust system. The main contents of this section is the introduction of the definitions, characteristics, and legal relations of the Voting Trust. This part of the theory is the introduction of foreign theories part of the theory assessment, through the introduction of this section describes the system as a whole framework of the Voting Trust, as described further below in China established the theoretical basis.The second part:Voting Trust established system in our country. This section is divided into two levels to explore, the first level is the need for the Voting Trust established system in our country. Mainly through the practical needs of China’s corporate governance, the Voting Trust has a system of voting trust the system has an unparalleled advantage in three of other voting rights to the exercise system to confirm the Voting Trust established system in our country. The second level is the feasibility of the Voting Trust established system in our country. Mainly through the theoretical feasibility, feasibility and legal system, the feasibility of three aspects in the specific practice. On the Voting Trust established system in our questioning and practical obstacles that may arise from the response and improvement. Trying to establish to pave the way for the Voting Trust system in our country.The third part:the voting trust system build. Is also a core part of this article, based on our practice, combined with the advanced experience of foreign legislation and institutional system of Voting Trust scientific, specific, actionable recommendations. Specific from three aspects:First, the Voting Trust legislation on the handling of the voting rights in trust; two is the choice of mode of voting trust legislation; of Establishment of Voting Trust system to make concrete proposals.