Research On Legal Issues Of Equity Entrustment

With the development of socialist market economy,the way that people participate in economic activities is becoming more and more diverse.Nominal holding of shares is a kind of hidden investment method,which means that the actor agrees with others,one actually pays for the investment and registers the corresponding equity in the name of others.There are many motivations to make such arrangements,and most of them are on the purpose of circumventing laws and administrative regulations,so the practice of nominal holding of shares is full of complexities and risks.In 2011,the Third Judicial Interpretation of Company Law was issued,which first pulled the holding of shares of limited companies out of the hidden zone of the law.However,in the nearly ten years since it was applied,the understanding of the legal nature of holding shares of limited companies in judicial practice is still not uniform.There are many disputes in practice.This paper tries to probe the related theory and application of the nominal holding of shares,and makes some suggestions,including:The first part is the introduction.First of all,introducing the basic concept of nominal holding of shares,including the reasons of formation,such as the avoidance class causes and non-avoidance class causes of formation.And on the basis of different standards to make a classification of nominal holding of shares.The second part is the jurisprudential analysis of proxy holding.The current domestic provisions on proxy holding are mainly based on the Third Judicial Interpretation of Company Law.And using the method of comparative study to compare the relevant provisions of the common law countries and the civil law countries.Besides,sorting out the relationship of the rights and obligations between the proxy-holding parties.Finally,discussing the defects of current legislation.The third part is proxy holding contract.The proxy agreement is the foundation for the establishment of the whole relationship of proxy holding,so this article lists a separate chapter to study proxy-holding contract.And obtaining the author's point of view by analyzing and comparing the advantages and disadvantages of the nature of proxy-holding agreements of three different theories.then it analyzes the elements of the proxy holding agreement,and summarizes the legal consequences when the agreement is deemed invalid.The fourth part is the qualification of shareholders.As for the determination of the shareholder's qualification of the apparent and hidden shareholders,it has always been the focus of controversy in practice.There are different points of view,such as the theory of substance,the theory of form and the theory of distinction.After analyzing the theories and cases of Suprem People Court to obtain author's point of view concerning the shareholder qualification standards.The fifth part is the legal regulations of the act of nominal holding of shares.In this part,the author puts forward some concrete suggestions on the confirmation of shareholder qualification,the construction of agency contract and the construction of trust model.