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Amendment of the Deprivation of Shareholders in China from the Perspective of Comparative Law

TANG Bo;WANG Wei-xuan;East China University of Political Science and Law;  
Although Article 17 of the Provisions of the Supreme People's Court on Certain issues Concerning the Application of the "Company Law of the People's Republic of China"(Ⅲ) draws on both the shareholder expulsion and deprivation of shares in Germany, it can still be interpreted as the shareholder expulsion system in the context of Chinese law. On this basis, Article 46of the Company Law(Revised Draft) formally introduced the system of deprivation. In extraterritorial law, the legislative purpose of deprivation is to maintain the company's capital adequacy, and the loss of shareholders' eligibility is a subsidiary attribute of the confiscation of shares. In contrast, China's deprivation system still needs further explanation and improvement in the scope of application, exercise procedures and legal effects. At the same time, if the Company Law finally and formally introduces the system of deprivation, the reminder procedure of the former shareholder's expulsion system can be deleted to distinguish the system of shareholder's expulsion and the deprivation system in China, so that they can play their respective roles in the context of the Company Law.
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