论提高有限责任公司股权转让规则之效率

Efficiency Improvement in Rule for Equity Transfer of Limited Companies

2006年开始施行的新《公司法》在有限责任公司股权转让规则的设计上仍然存在逻辑上的缺憾,使得股权转让的效率受到限制,难以保证交易各方的利益公平。为取得股东交易利益与有限责任公司“人合”性之间的平衡,本文作者提出了“禁止反言”、“对外转让程序的内化自由”、“允许竞价”、“转让向隔者”和“一次终止选择”等五项原则,尝试通过对股权转让中的“同等条件”、“优先购买权”、终止转让程序等规则的进一步明确和完善,使股权转让规则更为严密和具有可操作性。

The rule for equity transfer of limited companies in the new Corporation Law （2006） is liable to limit the efficiency of the transfer and may lead to the unfairness of shareholders＇ interests. The paper advances five principles to balance interests of parties in transfer. The clarification and improvement in identical terms, purchasing priority and termination procedure will make the rule more sound and practical.