组织框架下表决权拘束协议的体系规制

凡是以股东表决权行使为标的的债权协议均为表决权拘束协议,其在实践应用中具有不同的形态与功能。对表决权拘束协议进行规制,不仅需要将其从不同合同类型中识别出来,更要厘清不同形态背后差异化的规制目的与法律对策。合同法、公司法、证券法共同构建了规制体系,三者各有侧重:合同法提供了概念与规则基础;公司法进行了组织价值与规则的填充;证券法通过其合并规则应对义务的规避,解决形式与实质的不一致问题。三者不可偏废:合同层面的纠纷解决不能脱离组织的特殊性而抽象地适用合同法规范;证券特别规制的妥当适用,也无法脱离其合同法与公司法的规范与概念基础。

The Systematical Regulation of the Voting Agreement in the Context of Corporations

The voting agreement is a contract,the subject matter of which is the exercise of the shareholder’s voting rights.In practice,the external forms and functions of the voting agreements are different,which should be re-characterized as the first step for regulating.It is also significant to clarify the diverse regulating goals and the underlying legal policies.Contract law,corporate law and security law work together to build the regulating system but lay different emphases:the contract law provides basic structure of conceptions,principles and validity rules;Corporate law fills up the structure with its organizational nature;Securities regulations plug the gap between the normal and the substantive control over the shares.To solve the contractual disputes about the voting agreement,instead of merely using the general rules of contract law,the statuses and functions of voting agreement in corporations should also be put into consideration.The suitable application of regulatory tools is dependent also on the normative foundation of private law.