论公司买回自己股份之财源限制——比较法考察及我国立法模式之选择

发布时间：2018-01-28 00:03

本文关键词： 公司买回自己股份偿债能力测试资本可分配利润　出处：《法商研究》2015年04期 　论文类型：期刊论文

【摘要】：对公司买回自己股份的资金来源进行立法规制的缘由是保护公司债权人利益。但对买回股份资金来源的限制又不能太过严格,否则就阻滞了公司正常的商事运营,而如何在两者之间寻求平衡,是各国在立法时均应考虑的问题。对比美国、日本以及欧盟国家的相关规则,我们发现偿债能力测试模式在公司运营的效率和债权人利益的保护上做到了较好的平衡。我国新近对公司法中的注册资本制度进行了大胆革新,秉承新的公司法理念,对我国公司买回股份财源的规制应转变思路,可以借鉴偿债能力测试作为规范尺度,并将股利分配、股份买回等从公司转移财产到股东的行为均视为"公司对股东的分配",适用统一的规范;同时,还应确立在公司处于不可清偿境地时董事对公司债权人的信义义务。
[Abstract]:The reason for the legislative regulation of the source of funds for the company to buy back its shares is to protect the interests of the creditors of the company, but the restrictions on the sources of the funds to buy back the shares should not be too strict. Otherwise, it will block the normal commercial operation of the company, and how to find a balance between the two is a question that all countries should consider in legislation. Compared with the relevant rules of the United States, Japan and the European Union countries. We find that the solvency test model has achieved a good balance between the efficiency of the company operation and the protection of the interests of creditors. China has recently carried out a bold innovation of the registered capital system in the company law. Adhering to the new company law concept, the regulation of our company to buy back the share of financial resources should be changed thinking, we can learn from the solvency test as a standard yardstick, and the dividend distribution. The transfer of property from the company to the shareholders is regarded as "the distribution of the company to the shareholders", which is governed by uniform norms; At the same time, it is necessary to establish the fiduciary obligation of the directors to the creditors of the company when the company is in a non-deliverable position.
【作者单位】：佛山科学技术学院;
【基金】：教育部人文社会科学研究青年基金项目(12YJC820056)
【分类号】：D922.291.91
【正文快照】： 2013年12月28日,第十二届全国人民代表大会常务委员会第6次会议通过了《中华人民共和国公司法(修正案)》(以下简称新《公司法》),对公司的注册资本制度进行了大胆革新,除法律、行政法规以及国务院对注册资本实缴、注册资本最低限额有另行规定的以外,新《公司法》取消了有限责

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