On The Scope Of Exempt Property In Individual Bankruptcy System

In the context of the post-covid era,China’s economic growth pressure is huge,and the number of people bankrupt due to the epidemic keeps increasing.For these natural persons on the verge of bankruptcy,China’s current economic laws and regulations lack a strong guarantee for them,and the bankruptcy law has no provisions on personal bankruptcy.For this objective existence but no relevant legal basis,there are many problems in social judicial practice.In the personal bankruptcy system,the property exemption system is a special and indispensable system.The property exemption system is based on the difference between a natural person and a legal person since a corporation will disappear after the bankruptcy process,but an individual will remain and seek development after the bankruptcy.Because of the exemption of property system,it can preserve the property necessary for the survival of the bankrupt debtor,and it can make the debtor out of the impact of bankruptcy more quickly,so that the personal bankruptcy system can truly realize its purpose of protecting the honest unfortunate.At present,the provisions of property exemption system in our legislative practice are mainly in the "Regulations on Personal Bankruptcy of Shenzhen Special Economic Zone" passed by the Standing Committee of Shenzhen Municipal People’s Congress in August 2020.The appearance of this regulation makes up the gap in personal bankruptcy,and the appearance of personal bankruptcy will expand the scope of application of the bankruptcy Law.This also provides conditions for the application and development of the property exemption system.The study of the property exemption system needs to be carried out in the system of bankruptcy law.It is of great practical significance to study the property exemption system in personal bankruptcy.First,the system is an effective means of safeguarding human rights.In the civilized society of human beings,regardless of the status of individuals,people should have equality,survival and other basic human rights.The system of personal bankruptcy and property exemption can effectively ensure that the bankrupt debtor’s right to survival and development will not be affected,which is also a continuation of the spirit of human rights protection pursued by the law.Secondly,the property exemption system is a further perfection of the withdrawal mechanism of natural person’s main market,so that individuals can have more security when making venture capital investment under the background of economic downturn,so as to guarantee certain stability under relatively unstable conditions and promote good economic development.In general,the property exemption system has a catalytic effect on economic development.The introduction part of this paper mainly introduces the background,significance,domestic and foreign research status and research methods of the exempt property system.Apart from the introduction and conclusion,this paper is divided into the following parts:The first part is about the definition of the basic concept of personal bankruptcy system.The first section is about the definition of bankruptcy and exempt property,such as bankruptcy and personal bankruptcy,bankruptcy property and exempt property;And the characteristics of the exempted property.Discussions that focus better on exempting property by definition do not expand or narrow.The second section mainly introduces the historical evolution of personal bankruptcy system and exempt property and understands its development history.The second part mainly discusses the provisions of extraterritorial immunity of property.It mainly includes the fixed-ism represented by the United States in the first section and the inflationism represented by Germany in the second section.The third section mainly discusses the advantages and disadvantages of enumerating legislation and generalizing legislation under the fixed and expansive doctrine and the reference significance to the provisions of the scope of exempt property.The third part mainly focuses on the deficiencies of determining the scope of exemption property,mainly the legislative ambiguities and the problems in judicial practice.The fourth part is the conception of our exemption property system construction.Mainly expound the countermeasure of the present situation of exemption property regulation.It mainly includes the basic principles on which the scope of exempted property is determined,as well as suggestions on the specific composition of the main survival and development exempted property.