| CITIC was formally founded in 1979. Oct.4th.It market the beginning of CHINA TRUSET, after 30 years development, the trust industry development speedily with banking industry, insurance and securities. Trust also contributed an important forcen in the construction of our country’s economy. In China, The trust business of the company more concentrate on Collective investment trusts. CITs has remarkable different from conditional civil trust. it’s a serious business,so for the adjustment of the legal relationship, should reveal the value of commercial law. The essence of trust is to protect the interests of the beneficiary. As the trust legislation is in its commencement, especially about the protection of beneficiary is difficult to protect. How to protect the interests of the CITs beneficiary, it concerns the future development of trust industry. This text is explain from this description.The full text is divided into thire parts:The first part, the different between CITs and the traditional civil trust, the text fist give a shortly introduce abut CITs, and make comparative analysis of principle、trustee、beneficiary、trust property and trust purpose with civil trust, to highlight the CITs’ s specially. Then tell more problems about CITs cropped up in the development in China, and impact on the interests of the beneficiary.The second part: reading of the law on the interests of the beneficiary are violated. Through analyzed the case that trust can’t be honour collect on trust net, find out several status about the interests of the beneficiary are violated, then analyze by law. It’s include: One, the beneficiary’s right to know are violated. There is a consensus among all the candidates that the beneficiary has the right to know the trust property, privacy is also have specialty, how to define the boundaries of trustee’s know right, is an aspect of this section will take on.At the same time, The Law of Trust is in-conformity with the way people use the right to know and the specialty of the CITs, the legal help for offended the right to know is not enough. Two, analyze the damages that the trust company breach their fiduciary duties. The trustee owes a duty of Fidelity and care to beneficiaries, CITs is an investment activity with specialized and technical,the faith obligations or the trustee should be more, but in our country the provision of the trust law only do the general and principle rules. Three, infringement by trust company actual holding people、controlling shareholder and sensible. As the restrict distribution of stocking rights, beneficiary interests always be injured.Four, analyze the trust company to honour a check, to honor the biggest beneficiary is trustee not trust beneficiary.The third part: The protection of legal system of the CITs. This part is divided into four sections. First, to improve the information disclosure system, including firm the information disclosure and result the information disclosure. Second, strengthen the supervision of entrustee, this supervision mainly through the improvement of beneficiary meeting system and establish the trust supervisor. Third, combining the condition that the trust company ownership structure abuse the control power, through balance the rights of large shareholders、trust beneficiary、medium and small shareholders and adjust the equity distribution this two way, to make it real of protect the beneficiary. Four, for the characteristics of low legislative status and legislative weak, to offer advise to modify <Trust Law>or make<Trust Business Law>. |
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