论股东优先购买权的性质和效力

On the Nature and Effect of Shareholders'Preemptive Right

股东优先购买权的性质和效力一直以来是学界争论的问题。在几种学说观点中,形成权的定性最为符合股东优先购买权的性质。当股东优先购买权的行使条件具备时,优先购买权人只需要向转让人做出行使权利的单方意思表示,即可在双方之间成立股权转让合同。股东行使优先购买权对转让人和外部第三人之间的合同效力不产生影响。通常而言,转让股东与外部受让人的合同应当认定为有效。另外,公司章程具有优先适用的效力。但是,实践中必须确保公司章程是遵循合法、善意以及公平的理念设置股权转让的规则。

The nature and effect of shareholders'preemptive right has always been a controversial issue.In several theories,the nature of formation right is the most consistent with the nature of preemptive right.When the conditions for the exercise of the preemptive right of shareholders are met,the preemptive party only needs to make a unilateral declaration of intention to exercise the right to the transferor,and then the contract can be established between the two parties.Generally speaking,the contract between the transferor and the external third party should be regarded as valid.In addition,the articles of association have the effect of prior application.However,in practice,it is necessary to ensure that the articles of association follow the principles of legality,good faith and fairness in setting up the rules regarding to the transfer of shares.