The Study Of Chinese-style Trust Registration

Trust is a property system transplanted from the Anglo-American legal system,since the promulgation of the "Trust Law",when it comes to the registration of trusts,there is a voice that "there is law to follow but cannot be operated." Article 10 of the Trust Law of the People's Republic of China stipulates in principle that the establishment of trusts with specific properties shall be subject to the registration of trusts according to law,which has not been registered with a trust does not have effect.However,this article has ambiguous questions about the scope of specific properties and the provisions on the validity of trust registration,for the trust registration of the specific registration details and methods of operation have not yet come out.The absence of a system has prevented practitioners from carrying out genuine trust registration under the Trust Law,other alternative measures in practice can only partially realize the function of trust registration.China's trust industry demand for registration of trust has never stopped.On December 26,2016,pursuant to the approval of the China Banking Regulatory Commission,China Trust Registration Co.,Ltd.was officially unveiled in Shanghai.The first nationwide trust registration institution on the land of China was launched and the registration of Chinese-style trusts kicked off.While fully recognizing and affirming the breakthroughs made by China's Xindeng currently engaged in the practice of trust registration,it should also be noted that there is still a difference between the current trust registration and the industry's eagerly anticipated trust registration.The first chapter of this article takes the value of the system of trust registration as its content.The first part of this chapter first introduces the theoretical basis of trust registration-the theory of independence of trust property.Among them,through the analysis of the institutional function of the trust system from ancient to golden,the theory that the independence of the trust property has played an important role in the trust to play its institutional function.After establishing the importance of the independence of the trust property to the trust system,this article analyzes the different ways to ensure the independence of the trust property between the two legal systems.TheAnglo-American legal system often combines the traditional legal protection,the registration of trust documents and the judicial protection of the beneficiaries' rights in the judicial system.It does not depend on the publicity effect of the trust registration into a system to ensure the independence of the trust property.However,due to the strict system of property rights and the publicity demand for property,the civil law system tends to set up trust registration to display the trust property of the trust property publicly,so as to realize that the trust property is independent of the inherent property of the trust participant.The third part of this chapter focuses on the experience of registration of foreign trusts.First of all,this paper analyzes the limitations of the registration of trusts in Anglo-American legal system countries.It points out that due to the different legal environment and legal habits,the registration of trusts in Anglo-American countries is not the same as what we expect.Japan,as the first country in the country(region)of continental law system,has a profound influence on the research and trust system of trust law in other civil law countries(regions).Our country's legal tradition is similar to that of Japan and can draw on the experience of its trust registration.The second part of this article starts with the practice of China Trust Registration Corporation.Based on the background of the founding of China's Shinden,it analyzes the current difficulties in the establishment of China's trust registration system.Including the determination of the scope of the property under the provisions of Article 10 of the Trust Law,the defects of alternative measures in practice in the absence of the current registration of trusts,the compatibility of trust registration with the existing property registration system,It also involved the problems encountered by Shanghai Trust Registration Center as a registration time trial before China's Sinden.Secondly,through the analysis of related documents,the summary of the expected functions of the CBRC in setting up a China Trust registration company includes:1.The collective trust plan issuance and publicity;2.Registration of the trust products and their trust beneficiary rights,including: pre-registration,initial registration,change registration,termination of registration,correction of registration,etc.3.Services for the issuance,trading,transfer and settlement of trust products;4.The establishment and management of trust beneficiary account;5.Related services such as valuation,evaluation,inquiry and consultation of trust products and their rights;6.Inquiries and evidences about trust disputes over ownership of trust products;Registered services for the registration of trust property for legal ownership.Thirdly,a brief introduction is made on the registration of trust products and the registration of trust beneficiary rights that are now underway in Chinatrust.It mainly analyzes the difference between the registration of trust property and the registration of trust property in registration of trust products.The registration of trusts currently carried out by China Trust Registration Company has played a significant role in supporting supervision.The registration of trust products even replaces this pre-regulatory procedure,which the CBRC is required to file before the trust company issues the trust.Whether it is based on the theoretical basis of trust registration or the analysis of the practice of registration of extraterritorial trusts,the registration of trusts should play a role in ensuring the independence of trust property and safeguarding therealization of trust purpose,and therefore all should be registered with trust property As the core of trust registration.In the last part of this chapter,it analyzes the reason why the current Chinese trust registration tends to supplement the regulatory function.The reason is that regulatory thinking in the top-level design still plays a leading role.Regulatory thinking of trust registration still has a strong regulatory power.Not surprising.The third part of this article is based on the analysis of the previous two chapters,put forward some suggestions on the establishment of the Chinese-style trust registration system.The core principle is to rely on the existing trust registration resources,China Trust Registration Corporation,to establish a Chinese-style trust registration with the trust property registration as the core.First,the proposed trust registration to establish the trust property registration as the core.Of course,based on the realities of our country and the development needs of the trust industry,the construction of trust property registrations can be promoted in stages.From the registration of trust products and the registration of trust beneficiary rights,registration of trust property shall be established when the time is ripe for such issues as law,public opinions and customs.The scope of property registration for trusts is understood in a hierarchical way.The restriction on the scope of property required to be compulsorily registered under Article 10 of the Trust Law is taken as the type of property effective for registration of changes of ownership.Second,it proposed that the legal status of the registration of China Trust Co.,Ltd.should be authorized by a higher-level law to ensure the credibility of its registration information and its registration can be linked with other property registrations.And clarify the limits of liability of the China Trust Registration Company.Thirdly,on the choice of registration effectiveness model,we first introduce the registration validation and registration antagonism separately.According to Article 10 of "Trust Law" in our country,it is suggested to apply the mode of validating registration by Article 10 of the "Trust Law" to the property effective as the registration of property ownership,while the remaining property adopts the mode of validity of registration confrontation.Fourthly,on the system selection of trust registration,the characteristics and advantages and disadvantages of unified registration and decentralized registration are introduced respectively.Found that unified registration and decentralized registration are costly situation,unified registration need to establish a new registration system,decentralized registration in the various departments and the relative convergence of information gathering resources,so in China Trust Corporation Based on the establishment of the proposed use of a unified registration system.And since the registration of innovative trust products in our country and the registration of beneficiary rights can not be completed through the "incremental" registration of the existing property registration system.