公司债券受托管理制度研究

发布时间：2018-01-19 04:08

本文关键词： 公司债券受托管理债券受托管理人债券持有人　出处：《复旦大学》2010年硕士论文　论文类型：学位论文

【摘要】： 在我国资本市场中,相比于活跃的股票市场,债券市场是一个“短板”,但同时也意味着它蕴藏无限潜能。2010年初,国务院办公厅文件将“加快债券市场的制度建设和完善”列为当前金融领域改革的八大重大课题之一,足见债券市场所受的重视程度及其在整个国民经济发展中的重要地位。毋庸置疑,投资者的信赖和参与是债券市场得以发展和繁荣的生命线,要加快建设和完善债券市场制度,就必须充分重视建设和完善对债券投资者权益保护的法律制度。《公司债券发行试点办法》第四章“债券持有人权益保护”规定,初步确立了债券受托管理制度作为我国公司债券持有人集体行动机制的模式,使我国公司债券持有人权益保护法律制度发生了从无到有的质的飞跃。然而,纵观我国现行关于公司债券受托管理制度的整体立法,发现仍存在立法体系混乱,法规位阶较低；制度理念不甚明确；制度内容不甚详尽等不足之处,维护公司债券持有人权益的制度目的有难以实现之虞。因此,对公司债券受托制度本身加以研究,借鉴境外国家或地区成熟的立法实践,从而构建我国公司债券受托管理法律体系,对切实保护我国公司债券投资者的合法权益,为加快我国债券市场的发展提供强有力的法律保障,具有重大的现实意义。除引言外,全文共分为四章：第一章是公司债券受托管理制度的基本理论。通过对公司债、公司债管理、信托原理与公司债券受托管理等基本概念和上位制度的概述性介绍,逐次揭示出公司债券受托管理制度的法律涵义,同时对公司债券管理制度另一模式——公司债券持有人会议制度也作了简要探究。第二章是境外公司债券受托管理制度立法研究。通过对境外各国及我国台湾地区关于公司债券受托管理制度立法形式和内容的介绍,尤其着重对英美法系代表国家美国和大陆法系国家代表日本关于公司债券受托管理制度的立法实践作了详尽介绍与研究,以期对完善我国公司债券受托管理立法提供指导和借鉴。第三章是我国公司债券受托管理法制的演进。主要介绍我国公司债券受托管理制度的立法背景及内容,提出了我国现行公司债券受托管理制度立法在形式和内容方面存在的问题,并对成因作简要分析。第四章是我国公司债券受托管理法律制度的完善。针对前文对我国公司债券受托管理立法现状提出的不足和亟待改进之处,在对境外关于公司债券受托管理立法的比较及评析的基础之上,坚持以保护公司债券持有人权益为中心,构建以信托理论为法理基础的公司债券受托管理制度,对建立完善我国公司债券受托管理法制提出如下设想：在公司债券受托管理立法形式方面,将我国公司债券受托管理制度明确纳入《公司法》之中,并辅之以证券监管部门制定的《公司债券受托管理人准则》,将公司债券受托管理制度的具体内容予以细化,从而建立起由公司法律和证券部门规章有机联系的法律体系；在公司债券受托管理立法内容方面,在现行《公司债券发行试点办法》已有内容的基础上,对拟规定在《公司债券受托管理人准则》中的关于公司债券受托管理人权利、义务、责任等内容予以充实。
[Abstract]:In China's capital market, compared with the active stock market, the bond market is a "short board", but also is of great potential.2010 at the beginning of the year, the general office of the State Council document will accelerate the improvement of bond market system "as one of the eight major subject reform in the financial sector. This degree of attention by the bond market and its important position in the whole national economy development. There is no doubt that the trust of investors and the bond market to participate in the development and prosperity of the lifeline, to accelerate the construction and improvement of bond market system, we must fully pay attention to the construction and perfection of the legal system to protect the rights and interests of investors bonds corporate bonds. The fourth chapter" the pilot issue measures on the protection of rights and interests of bondholders "provisions, initially established the bond trustee management system as China's bondholders collective action The mechanism of the model, so that our company bondholders protection legal system from the qualitative leap. However, the current overall legislation on corporate bond trustee management system in our country, we still find the legislative system confusion, regulations level is low; the idea of system is not clear; the system content is very detailed and insufficient in the system to maintain the rights and interests of the bondholders liable is difficult to achieve. Therefore, the study of corporate bond trustee system itself, draw lessons from foreign countries or regions of the mature legislative practice, so as to construct the Chinese corporate bond trustee management legal system, to protect the corporate bond investors in China's legitimate rights and interests, and provide a strong legal protection in order to accelerate the development of China's bond market, has a great practical significance.
In addition to the introduction, this paper is divided into four chapters:
The first chapter is the basic theory of corporate bond trustee management system. Based on the corporate bonds, corporate debt management, general principle and trust company bonds entrusted with the management of the basic concepts and the introduction of the system, gradually reveal legal meaning of corporate bond trustee management system, with the system of management system of corporate bonds -- another company the bondholders meeting also made a brief inquiry.
The second chapter is the overseas corporate bond trustee management system. Through the introduction of the Legislative Research on the corporate bond trustee management system the legislative form and content of the foreign countries and China's Taiwan region, especially in the legislative practice of the United States and the civil law countries on behalf of Japan on behalf of the Anglo American law system of corporate bond trustee management system in detail and research in order to improve the legislation and management of China's corporate bond trustee to provide guidance and reference.
The third chapter is the evolution of legal system of China's corporate bond trustee management. Mainly introduces the legislative background and content of China's corporate bond trustee management system, put forward the form and content of China's current corporate bond trustee management system legislation, and a brief analysis of the causes.
The fourth chapter is to improve China's corporate bond trustee management legal system. Aiming at the shortage of the proposed legislative status quo of the entrusted bonds manager of our company and the urgent need for improvement, on the basis of comparison of foreign legislation on the bond trustee company and the analysis of the foundation, adhere to the protection of bondholders' rights and interests as the center, construction of corporate bond trustee the management system based on trust theory as the theory foundation to establish and perfect legal system of China's corporate bond trustee management put forward the following ideas: in the aspect of corporate bond trustee legislation, China's corporate bonds trustee system of corporation law explicitly included in < >, and supported by the securities regulatory departments to develop the "entrusted with the management of corporate bonds guidelines >, the specific content of corporate bond trustee management system to be refined, which established by the company law and the securities regulations organic relations The legal system; in the aspect of corporate bond trustee management legislation, basic issue to pilot the existing content in the current < > of corporate bonds, to be stipulated in the < corporate bond trustee criterion in > on the corporate bond trustee rights, obligations, responsibilities and other content to be full.

【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2010
【分类号】：D922.287;F832.51

【引证文献】