股东优先购买权性质重述

发布时间：2018-05-11 03:00

本文选题：公司法 + 股权转让　；参考：《南方金融》2017年09期

【摘要】：关于有限公司股东在其他股东对外转让股权时拥有的优先购买权的性质,学界争议由来已久,在司法实践中也有不少争议案件。我国《公司法》对股东优先购买权的性质规定不详,最高人民法院于2016年12月发布的《司法解释(四)》(征求意见稿)也未对此加以明确。在形成权、期待权、请求权及其他性质权利中,基于民法理论的形成权能较好地平衡转让股东、其他股东及第三人的利益,维护有限公司内部治理机制稳定,同时也契合商法的经济、效率、安全原则,是股东优先购买权最佳的性质定位。完善我国股东优先购买权制度,要明确股东优先购买权的行使只适用于股权对外有价转让的情形,"同等条件"主要通过竞价机制进行确定,权利行使应有期限限制,要将股权转让的物权行为与转让合同的负担行为两者的效力加以区分,在限制股权对外转让方面兼顾公司章程自治和法律规制。
[Abstract]:As to the nature of the preemptive right that the shareholders of limited companies have when other shareholders transfer their shares to the outside world, the academic circle has a long history of disputes, and there are many controversial cases in judicial practice. The nature of shareholders' preemptive right is not specified in the Company Law of our country, and the Judicial interpretation (4) (draft of soliciting opinions) issued by the Supreme people's Court in December 2016 is not clear about this. Among the rights of formation, expectation, claim and other nature, the forming power based on the theory of civil law can balance the interests of the transferring shareholders, other shareholders and third parties, and maintain the stability of the internal governance mechanism of the limited company. At the same time, it accords with the economic, efficiency and safety principle of commercial law, which is the best property orientation of shareholder's preemptive right. To perfect the system of shareholders' preemption right in our country, it is necessary to make it clear that the exercise of shareholders' preemptive right is only applicable to the case of external price transfer of shares, that "equal conditions" are mainly determined by the bidding mechanism, and that the exercise of the right should be limited for a limited period. It is necessary to distinguish the effect of the real right act of equity transfer and the burden act of transfer contract, and to give consideration to the autonomy of articles of association and legal regulation in restricting the transfer of shares to foreign countries.
【作者单位】：华东政法大学经济法学院;
【分类号】：D922.291.91

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