On Pre-Emptive Right In The Transferring Of State-Owned Equity

Pre-emptive right is a stauary right which Company Law has entitled to shareholders,but there are no more laws or regulations which provide how a shareholder performs his pre-emptive right specificlly,which leads to quite many disputes about performing the pre-emptive right in the judicial practice.As the transferring of state-owned equity involves the protection of state-owned assests and its speciality,namely the state-owned equity has to be listed publicly in assets transferring orginazation,so it is more siginificant to discuss.Meanwhile,as the effective laws and regulations of PRC do not provide comprehensively on the transferring of state-owned equity,including the specific contents of equitive conditions,the exercise time,method and specific term of pre-emptive right.Thus,this article raises the question from a case in the judicial practice,and this article analysize the exercise ofpre-emptive right of the state-owned equity from the following aspects by the iterature analysis method and case empirical method.Firstly,concept and nature of shareholder's preemptive right are briefly stated herein,and the function concerning establishment of such system are discussed.Then next chapter is followed,namely special characteristics concerning the system of preemptive right for state-owned shares on the basis of general limited liability company ? Therefore,after brief analysis concerning concept of transfer system of state owned share,the issue that how to define and exercise the preemptive rights in the process of state-owned share transfer is analyzed herein combined with the cases referred in Chapter One and preemptive rights system stated in Chapter Two.The connotation in the same conditions will be firstly analyzed in substance,definition of same conditions will be then stated from perspective of process,and discuss the method and period to exercise preemptive right.Then analyze the difference concerning the identifying of preemptive right same conditions between Shanghai and Beijing.Finally put forward suggestion concerning the improvement of exercise of preemptive right in the process of state-owned share transfer in order to decrease disputes,guarantee the transaction security and protect state-owned assets of our country in Chapter Four.