The Legal System Research On Voting Trust

Voting trust is a product of the combination of as shareholders’voting rights mechanism and trust system, is the company’s shareholders for lawful purposes will the shares held by the voting stripping, signed voting trust agreement with the trustee, in specific period delivered right to vote by its unity exercise and has the corresponding property changes configuration mode control the effectiveness of the new company. In the protection of legitimate rights and interests of small shareholders; the company out of financial crisis; improve the state-owned assets management efficiency; strengthen the protection nationality brand; promotion of charitable donation and other aspects of the system shows great superiority. The legislation of our country is not on the voting trust to make specific provisions, but in economic globalization and market-oriented economic situation, China’s commercial practice has gradually began to optimize the allocation of corporate control depth using the voting trust. Due to the lack of support for the theoretical research and the legal system of the voting trust system, further, the system can be fully and effectively use and popularization in our country can not.This paper mainly uses the method of comparative analysis, economic analysis, historical analysis, empirical analysis and comprehensive analysis, aims to draw lessons from the extraterritorial legislation based on the excellent, combined with our legal tradition, legal status and the practical need in theory and legislation, try to provide some ideas in our localization voting rights trust system shareholders. The results of the study show that, the voting trust system is the unique superiority of system structure difference and equity trust, proxy voting, cumulative voting voting agreement, also have similar systems can not replace, whether in common law system, the continental law system, voting trust is constantly playing and becomes more and more obvious its unique advantages, vigorously develop the service in the market economy. In China there are transplanted the voting trust of the necessity and feasibility, should make full use of the useful experience of developed countries in the premise is based on our country’s business practices and legal environment, the voting trust into law stipulate, proceed to the voting trust system construction in our country from the four elements the legitimate purpose of trust, in written form, publicity registration and trust period, three areas and from the trust supervision, registration, the perfection of tax system support outside the trust of shareholders voting rights.