认缴制下未届出资期限股权转让的主体责任

Subject liability for the transfer of equity interests outside the contribution period under the contribution system

未届出资期限股权转让的主体责任对于补充责任的适用情形、多次转让的补充责任人的确定、出让人承担补充责任后向受让人追偿等问题没有明确规定。英美法系规定了受让人在特殊情况下的豁免情形,大陆法系规定了前手承担补充责任的时间范围,这些细化规则让股权转让的风险负担进一步明确。从解释论的角度,出让人补充责任说有自身的比较优势,建议从明确事前规制及事后救济方式,区分一般情形和特殊情形下的股权转让等方面,进一步完善我国《公司法》关于未届出资期限股权出让人承担补充责任的条件、范围及救济方式等规定。

Subject liability of the transfer of equity interests before the expiry of the capital contribution period is not clearly stipulated with respect to the applicable circumstances of the supplementary liability,the determination of the person with supplementary liability in multiple transfers,and the recovery of compensation from the transferee after the transferor has assumed the supplementary liability.The common law provides for the exemption of the transferee under special circumstances,the German law and the Italian law provide for the timeframe for the predecessor to assume supplementary liability,and these refinement rules make the risk burden of equity transfer further clear.From the perspective of interpretive theory,the theory of transferor′s supplementary liability has its own comparative advantages.But it is necessary to make use of ex-ante regulation and ex-post relief to mend the existing law,distinguish between general and special circumstances of equity transfer scenarios,and further clarify the conditions,scope,and relief of China′s Company Law for the transferor′s supplementary liability.