Font Size: a A A

On The Object Clause Of Sub-fund Of The Venture Capital Investment Guiding Fund

Posted on:2013-12-31Degree:MasterType:Thesis
Country:ChinaCandidate:C LongFull Text:PDF
GTID:2246330374456821Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
The Venture Capital Investment Guiding Fund (VCIGF) beginsexpanding increasingly since the Interim Measures for the Administrationof Venture Capital Investment Enterprises has been promulgated in the yearof2005. With the development of VCIGF, the sub-fund has grown strongquickly at the same time. However, the mechanism problems existing in thesub-funds cannot be ignored. The biggest problem in the mechanism is thedefects in the object clause of sub-funds. Besides, the nature and the effectsof the clauses are also controversial, which results to plenty of troubles.The problems above severely obstruct the VCIGF to meet their goals. Thetheme of this thesis is to clarify the nature of the object clause in thesub-fund, to analyze the controversy in the existing mechanism, and tomake proposals to make sure its aim to come true.This thesis consists of four chapters. In the first chapter, the authorintroduces the definitions and the characters of the object clause of thesub-fund of VCIGF. Firstly, the author introduces the concepts and thefeatures of Venture Capital, VCIGF and the Sub-fund of VCIGF. Then, theauthor introduces the definition, significance and content of the objectclause, and analyzes the relationship between object clause and businessscope.In the second chapter, the author analyzes, in the terms of law, theobject clause of the sub-fund of VCIGF. On the basis of introduction of thefeatures and status in quo of the sub-fund, the author analyzes the nature of the object clause in the theory. Through the deep analysis of the main fourtheories concerning the nature of the object clause, the author finallyreaches his own conclusion. Moreover, the author discuses and concludesthat the board of directors is the representative organ in a corporation,while the legal representative is just on behalf of the representative organ.Additionally, the author discuses and concludes the significance andnecessity of the object clause of the sub-fund.In the third chapter, on the basis of ascertaining the nature of theobject clause and clarifying the ownership of the representative right,within the Chinese current framework of law, the author discuses thecontracts which are signed beyond the limitation of the object clauses onthe classification of the good will and the bad will of counterpart of thecontract. When the counterparty acts in good faith, basis on the apparentrepresentativeness theory, contracts between the counterpart and thesub-funds are effective, even though the content of the contracts beyond thelimitation of its object clause. When the counterpart is in bad faith, theeffect of contracts depends on whether the board of directors of thesub-fund makes solutions to sign such contracts beyond the object clause ornot. Subsequently, the author discusses how to identify the third party inbad faith, and the author concludes that the third party should be regardedas a good-faith one till the opposite situation appears in each case.In the forth chapter, the author observes the status in quo of the objectclause of the sub-fund, and finds out a many problems, such asunreasonable standard index, the ignorance of industrial distinction, theshortage of remedy and so on. By taking lessons from relative mechanismin the Small Business Investment Company, making full use of Chinesecurrent mechanism, and on the basis of theory analysis above, the authormake proposals on simplifying and replacing part of index, makingdifferent index corresponding to different industries, and consummating thecurrent remedy mechanism.In the summery part, the author summarizes all the viewpoints in thethesis and reaches his own conclusion.
Keywords/Search Tags:the Venture Capital Investment Guiding Fund, Sub-fund, Object Clause, Contract effect
PDF Full Text Request
Related items