The Restoration Of Recovery Of Preferred Stock Voting Rights

The pilot project of China's preference shares system is intended to build a multilevel capital market.However,the legislation of our country's preferred stock has started late and China's economic transformation has resulted in the development obstacles.There is a lot of chaos in the running confusion and opinions regardless of company law legislation,practice and academic research.This will hinder the development of China's preferred stock system.The system of restoration of voting right of preferred shares,due to the complexity of its conditions and methods of exercising voting rights and its special significance to the protection of the interests of preferred shareholders,has made it become a core part of the study of the preferred shares system.This article combines the theoretical basis of company law and the use of comparative method research,case studies and other methods to systematically sort out and analyze of the legislative cases of restoring the right to vote in foreign preferred stocks.This article considers some of the issues faced by our country's recovery system for voting rights of preferred shares,including the statutory non-voting right of preferred shares,the unclear boundaries of the restoration of the voting rights of cumulative preference shares and non-cumulative preference shares,and the lack of distinction between voting rights recovery initiation procedures.The author put forward own viewpoints by summarizing the choices of foreign legislative approaches and company law practice of China's preferred shares system.First,the author advocates that preferred stocks should have the right to vote in their company law theory.Secondly,it focuses on the analysis of the restoration of voting right of preferred shares and the restoration of voting rights,we argue that China should make a legislative distinction between cumulative preference shares and non-cumulative preference shares on the basis of balancing the interests of shareholders,and also should established the autonomy boundary of preference shares within the framework of the company law.Finally,the author analyzes the function and limitations of the restoration system of the preferred shares voting right,and proposes the author's design ideas,the author hope to establish a more systematic and clear restoration system of preferred stock voting rights.