Voting Trust Legal System Research

Before 2001,the trust industry in our country and there is no clear legal system,the business scope of trust industry are not formal in the sense of trust.2001 People's Republic of China trust law enactment and implementation,issues related to our laws to regulate.Compared with foreign countries,research on trust legal system of China is far from enough.Study on trust law-related issues,for the establishment of a complete legal system,an important role in improving the overall legal framework.The research for application of trust in corporate governance,function of the trust has played a guiding significance.The paper consists of five parts:The first part is the theoretical foundation.Voting trust to the company's concept,legal relationships and values analyzed.Will be defined as the principal of the trust system in China based on trust property to a trustee,trustee management property in its own name,management and disposal objective lies in the interest of the beneficiaries of protection.The Hague trust Convention defines the trust was founded by the principal for the trust relationship is,for the benefit of a beneficiary or other specific purposes before transfer or property will be placed under the control of the trustee of a legal relationship.Companies usually include the establishment by the parties of the voting trust trust's principal shareholder,corporate voting Trust Trustees,corporate holders of voting trust warrants,trust and so on.Discussion on the articles on these players,on their rights and obligations were discussed.Discuss voting trust the value of the company can be regarded as the full text of the significance of and the need for research.A value system is whether it needs to introduce the fundamental foothold for companies the value of voting trust,respectively,from the aspects of company management and stakeholder demands,the voting trust discussed the value of the company.Part ? analysis of change of the voting rights of the company.In General,elements of company voting trust was established in different countries there are detail differences,but are generally divided into: the principal conditions of qualification,and the parties have so agreed,the parties deliver trust shares,entered into a trust agreement in writing,valid trust purposes,title and duration.Change this article defines it as the right to vote of the voting trust trust management of change and change voting trustee and holders of warrants.Revocation of voting trust for the company,this paper argues that delegates participating in the voting trust shareholders,the company's other shareholders and creditors of the principal shareholder has the right to revoke the trust.On the termination of the company's voting trust,different from the General Trust,when the trust expires,the goal has been achieved or consensus cannot be achieved,the parties of the trust,the company voting trust may terminate.Part ?discusses voting trust status of the company.Company's voting trust no concrete basis in legislation,and in practice can be found isolated cases,its status from these two aspects.Although there is no system of corporate voting trust formally,but in practice "companies voting trust" practice has long existed.At present,the company law and the law of trusts and the management measures of trust and investment companies can be found in the pockets of corporate voting trust can refer to the applicable norms.But so far no separate provision standardizing voting trust,supporting laws and regulations associated with the corporate voting system is almost a blank.Impact of trust environment for the voting trust should not be ignored.Based on trust development regulations,regulatory confusion and some companies trust ownership concentration of these three phenomena analysis impact of environment on the voting trust.Part of company voting trust to study abroad.Mainly United States and Japan as the object of discussion.In the early 20 th century century,United States enacting the model law for the unification of commercial law(Uniform Business Corporation Act.),in the form of articles of law expressly provides that the company voting trust.Although Japan no explicit legal company voting trust,but this does not affect the company's voting trust in Japan use.Voting trust is still in our infancy,and summing up the experiences of advanced countries for reference,development of the domestic system helps a lot.And for the use of this system,on the basis of summarizing the experience of other countries to learn from and use.Part ? focuses on perfecting the system of corporate voting trust discussed,is the point of this article.Although there is no clear provisions on the voting trust the company,but in practice there are trusts instance.This paper considers it necessary in the voting trust to the company clearly defined in legislation.Introduction of the system often leads to rejection,our legal status,specific conditions will be introduced to the system of social practice presented problems.In this chapter against the company voting trust needed to face the situation,proposed changes in the theory of conflict resolution,establish a specific legal relationship rules and advice on creating an enabling external environment.