股权利益分离机制下隐名出资问题之再阐释

Re- Interpretation of the Issue on Dormant Contribution of Capital under the Mechanism of Equity Interest Separation

《公司法解释(三)》对隐名出资问题进行了规定,引发理论界与实务界对此之新一轮省思。在隐名出资场合不仅存在实际出资人与名义股东之间的合同关系,还有实际出资人、名义股东与公司及其他股东之间形成的法律关系。《公司法解释(三)》的破局尝试,有着非常重要的意义,同时也反映出理论与实践中的一些问题。反思股权本质,理顺股权当中的财产关系与人身关系,建构股权利益分离机制,兼顾当事人之间的约定以及公司其他股东的意思,将有可能寻求更为理性的破局之道,也符合有限责任公司兼具人合性与资合性的品格。

With regard to the Provisions of the Supreme People＇s Court on Several Issues concerning the Application of the Corporate Law（ III） on the dormant contribution of capital,a new round of debate and retrospection has arisen in academia and among practitioners. Besides the contractual relationship between the actual contributor and the nominal shareholder,such issue also involves the legal relationships among the actual contributor,the nominal shareholder,the corporation and other shareholders thereof. The Provisions are of ice- breaking significance yet with several theoretical and practical problems. On the basis of reflections on nature of equity interest,it is suggested to rationalize the property and personal relationship in equity interest,to form a mechanism of equity interest separation and to balance the agreement among parties concerned and the intentions of other shareholders. Therefore,a more rational approach can be found to be compatible with the nature of limited liability corporations with joint personal cooperation and capital contribution.