Amendments on Company Ordinance


There are several major amendments on <People's Republic of China Company Ordinance>:

1. The minimum registered capital requirement for limited company has been lowered to RMB 30000 and, the new ordinance allows one natural person or corporation to set up a limited company.

2. A more sophisticated system for board of shareholders and board of directors has been established: new amendment requires the appointment of an independent director in a listed company. It increases the power of internal audit committee and clarifies the legal obligations and due diligence that shall be borne by senior management and director.

3. Protection of shareholders' interest, especially minority shareholders: clarifying eligible conditions for company dividends. Shareholders can request company to buy his/her shares if the company does not distribute dividends for a long time even the company meet the condition for distributing dividends.

4. Introduction of system called "negation of company's morality" or "unmask the company": shareholders are regarded as related party and are responsible for company's liability. If shareholders abuse their rights to evade liability and seriously damage the benefits of creditors, they will then lose the right of limited liability and will bear responsibility for all liabilities of the company.

 


新公司法所作修改


《中華人民共和國公司法》修改的主要內容有幾個方面。


第一,修訂後的公司法,下調公司註冊資本的最低限額至人民幣三萬元,允許一個自然人或法人投資設立一人有限公司。


第二,完善股東會和董事會制度,增加監事會的職權,規定上市公司必須設立獨立董事,明確公司董事和高級管理人員對公司的忠實和勤勉義務以及違反義務的責任。


第三,保護股東尤其是中小股東利益。規定公司符合分紅條件,而長期不向股東分紅情況下,股東可以要求公司收購其出資,退出公司。


第四,增加"公司法人人格否認"或稱為"揭開公司面紗"制度。法人人格否認即股東對公司債務承擔連帶責任。股東濫用法人權利,逃避債務,嚴重損害公司債權人利益時,即失去其對公司的出資產限對公司承擔有限責任的權利,而且對公司的全部債務承擔連帶責任。