论股权转让时的股权变动规则:契约自由、公司确认与登记公示的三重维度  

On the Equity Change Rules in Equity Transfer:The Three Dimensions of Freedom of Contract,Company Con irmation and Registration Publicity

作　　者：刘俊海[1] LIU Junhai

机构地区：[1]中国人民大学法学院

出　　处：《上海政法学院学报（法治论丛）》2022年第5期98-113,共16页Journal of Shanghai University of Political Science & Law(The Rule of Law Forum)

基　　金：2019年度全国人大常委会法工委重点课题“公司法修改研究”;2021年度深圳证交所重点课题“上市公司治理机制完善研究”的阶段性研究成果,项目编号:2021K20182。

摘　　要：在《公司法》迎来第六次修改之际,反思和重塑股权转让时的股权变动规则有助于加速股权流转,维护交易安全,明晰股权结构,完善公司治理。规则之一是,股权转让合同原则上自合同成立之日起生效,但依据法律法规需要履行批准或登记的生效手续、当事人另有附期限或附条件等特别约定的除外。规则之二是,股权自股权转让双方通知公司之时(至迟在股东名册更新之时)起发生移转。规则之三是,公司协助股权转让双方前往登记机关办理股权转让合同登记和股东变更登记之时产生保护善意相对人合理信赖与对抗非善意相对人的公示公信效力。规则之四是,在公司确认的股东信息与登记机关登记的股东信息相互冲突时,立法者、登记者与裁判者应恪守“别内外,论阴阳,分善恶”的理念,在公司内部关系坚持源泉证据优位,在涉及善意第三人的外部关系中应坚持对抗证据优位。这些规则和而不同、同频共振,既适用于有限责任公司,也普适于股份公司,建议在《公司法》修改时全面入法。As the Company Law is going through the sixth revision,reflecting and restructuring the rules of equity change during equity transfer will help to accelerate equity transfer,maintain transaction security,clarify equity structure,and improve corporate governance.One of the rules is that,in principle,the equity transfer contract will take effect from the date of its establishment,unless the approval or registration procedures are mandatory under laws and regulations,or the parties have other special agreements such as time limits or conditions.The second rule is that the transfer of equity will take place from the time when both parties to the equity transfer notify the company(at the latest when the register of shareholders is updated).The third rule is that when the company assists both parties to the equity transfer to go to the registration authority for the registration of the equity transfer contract and the registration of shareholder change,it will have the effect of publicity and credibility to protect the reasonable trust of the bona fide third-parties and defend against the non-bona fide third-parties.The fourth rule is that when the shareholder information confirmed by the company conflicts with the shareholder information registered by the registration authority,the legislators,registrants and judges should abide by the concept of"distinguishing internal and external,differentiating registration and non-registration,distinguishing between the bona fide and the non-bona fide.In corporate internal relationship,primacy of source evidence should be followed.In corporate external relationship,the primacy of registration evidence should be followed to respect the bona fide third parties.These rules are harmonious but different.They are applicable to both limited liability companies and joint-stock companies in general.It is recommended that they be fully incorporated into the Company Law when it is revised.

关 键 词：股权转让 契约自由 股东名册 股东变更登记 公示公信效力 

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