从万科事件看上市公司股东大会、董事会职权的章程自治

Autonomy of Articles of Association of Listed Companies through Wan Ke Event

在万科控制权事件之争中暴露出许多问题,其中包括有关上市公司股东大会和董事会职权之争的问题。在相关法律规定不明确的情形下,随着上市公司股东大会和董事会职权冲突的不断扩大,上市公司章程成为它们争权夺利的主要战场。因此,如何规范上市公司章程中有关股东大会和董事会职权的自治范围和限度是问题的关键。上市公司章程对于股东大会和董事会职权的自治权受到《公司法》和《上市公司章程指引》中强制性规范的限制,对于法条中列举的属于股东大会和董事会的专属权利,不得通过章程任意变更。对于法条中规定可以由章程自行规定的权利,上市公司章程可以根据股东大会和董事会在公司中的地位自行制定。

Among the problems exposed in the Wan Ke case,the dispute over the power struggle between the shareholders' meeting and the board of directors is particularly notable. With the relevant legal regulations being ambiguous,articles of association become the main battlefield for the two parties to struggle for higher authority. Therefore,the key issue is to properly define the scope and limits of authority of the two in the articles of association. The autonomy of articles of association in such regulations is subject to the mandatory provisions of Company Law and the Guide of Articles of Association of Listed Company and the legal authority therein entitled to the shareholders' meeting and the board of directors shall not be changed arbitrarily by articles of association. For the rights that could be set on their own in the articles of law as stipulated in the legal provisions,the articles of association of listed companies have right to set it by themselves,according to the status of shareholders and directorate in the company.