On Perfection Of The Legal Mechanism Of Delisting

The continuous improvement of the delisting legal mechanism is the inevitable requirement ofdeveloping securities market in China."Company law" in1994construct the basic framework ofthe legal system of delisting, delisting by2012creation of the new rules, management to suit theneeds of the market to make the relevant system design. But as a result of the delisting system oflaw itself is not perfect and lack of related legal operation mechanism, this mechanism does notplay a proper role. From foreign experience of the developed securities market, improve the lawsystem in the delisting of listed companies in our country, in addition to from further perfecting thedelisting standards and delisting procedures, can also through perfecting the delisting of listedcompanies related necessary legal mechanism to implement.Defects in full according to the law of the listed company delisting mechanism solution as thepath argument, which is divided into four parts. The first part discusses the content of the legalsystem of delisting of listed companies and points out its existing problems. Through the delistingrules, delisting standards and delisting procedures and delisting reason of problem and ST systemand related interest subjects four problems such as the rights and obligations under the provisionsof comb, analyze its existing system defects. The second part is the main content of the delistinglegal mechanism of value target selection and function orientation, value target of delisting legalmechanism to comb and compare the value of the legal status, and introduced the concept offinancial consumer interest protection. The third part is the main content of the United States, Japan,India and other countries and regions of the delisting legal system comparison and reference. Fromthe delisting standards and delisting procedures and provides referential experience supportinglegal mechanism, etc. The fourth part is the perfection of legal system. Through the first part of thedelisting system in the implementation of the present situation and defect analysis of the causes,and on the outside is, the appropriate reference on how to perfect the legal system of our countrylisted company delisting carried on the thorough thinking and puts forward some Suggestions,including cancellation of ST system, increase the voluntary delisting way, strengthen the financialinterests of consumers protection, etc.In this paper, in the past study of delisting legal system on the basis of the system wasinvestigated in a more specific way of form a complete set of legal mechanism, in addition toimproving Suggestions of delisting legal system itself, for the perfection of delisting mechanism related feasibility Suggestions are put forward. Future for delisting legal system must also becontroversial and improvement of place, but the author believes that more in-depth research, inthe system and the system will based on it become more perfect and specification.