The third draft of the revised company law: the controlling shareholders abuse the rights of shareholders. Other shareholders have the right to request to purchase their shares

(Data pictures are for reference only)

The third review draft of the revised company law was submitted to the fifth meeting of the Standing Committee of the 14th National People's Congress for deliberation on the 28th. The third version of the draft was revised and improved around further implementing the requirements for equal protection of property rights and strengthening the regulation of controlling shareholders and actual controllers.

In order to further implement the requirements for equal protection of property rights, the third review of the draft further improved the relevant provisions on the protection of the rights of minority shareholders, stipulating that if the controlling shareholders abuse their rights and seriously damage the interests of the company or other shareholders, other shareholders have the right to request the company to purchase their shares at a reasonable price. The third review of the draft also improved the provisions for shareholders of joint stock limited companies to consult and copy the company's relevant materials; The Company shall not increase the shareholding ratio of temporary proposal shareholders.

In order to further strengthen the regulation of controlling shareholders and actual controllers, the third review of the draft added provisions: if the controlling shareholders and actual controllers do not act as directors of the company but actually perform the company's affairs, the provisions that directors have obligations of loyalty and diligence to the company shall apply.

In order to further improve the subscription registration system and maintain the capital enrichment and transaction security, the third draft of the draft increased the provisions on the subscription period of shareholders of the limited liability company, and made it clear that the amount of capital contributions subscribed by all shareholders should be fully paid within five years from the date of establishment of the company in accordance with the provisions of the articles of association.

The third review of the draft also added provisions: the directly responsible person in charge and other directly responsible persons who obtained the company registration by falsely reporting the registered capital, submitting false materials or taking other fraudulent means to conceal important facts shall be fined not less than 10000 yuan but not more than 50000 yuan; Those who violate the Accounting Law, the Asset Appraisal Law and other laws and administrative regulations shall be punished in accordance with the Accounting Law, the Asset Appraisal Law, the Certified Public Accountants Law and other laws and regulations.

Xinhua News Agency

label: