| Share-holders are investors as well as beneficiary in a company’s managementstructure. However, it’s a principle in modern companies’ management structure thatthe proprietary right and the management right should be separated. This keepsshare-holders away from companies’ day-to-day operation, which blocks theirknowledge about companies’ state. To cope with this situation, many countries haveput forward company laws that give share-holders rights to check relevantdocumentary and records. Knowing companies’ running state can help share-holdersbetter realize their voting right and the proposal right, and supervise companies’managers. However, such right could be violated by some bad-intentionedshare-holders to harm companies’ interest. Therefore, legislators have to balance theinterest between share-holders and companies, endowing share-holders the right toinspect within proper limitation. Share-holders have to show their proper intentionbefore they inspect account books or original certificates, which are directlyconnected with companies’ business secret. Also, there is restriction on the main bodyand its inspecting range. In addition, company laws in foreign countries have laidcertain regulation on the procedure and judicial relief of realizing share-holders’inspection right. Though the new “Company Law” has stated clearly the regulation ofshare-holders’ inspection right, there is still certain limitation compared withadvanced countries. The author thinks the improvement has to be done in thefollowing ways: Clarify the qualification of share-holders’ inspection right as themain body; improve regulation on relevant inspection of proper intention; enlarge therange of share-holders’ inspection right; endow share-holders with the inspection righton account books; establish the exercise procedures of share-holders’ inspection right;integrate the judicial relief of realizing share-holders’ inspection right. |
PDF Full Text Request