Study On The Exemption Property System In Personal Bankruptcy Legislation

Personal bankruptcy legislation plays an important role in improving China’s current bankruptcy law system.The promulgation of the "Shenzhen Special Economic Zone Personal Bankruptcy Regulations" in 2021 actively responded to the call for "research and establishment of a personal bankruptcy system" in the "2019 Accelerated Improvement of Market Subject Exit System Reform Plan",and is a new breakthrough in China’s bankruptcy legal system.With the pilot work of personal bankruptcy in Shenzhen,Zhejiang,Jiangsu and other places have also begun to implement the "quasi personal bankruptcy" system and quickly launched judicial practice work,accumulating practical experience for establishing a national personal bankruptcy system in the future.In the personal bankruptcy system,the exemption property system is a special system that can be distinguished from corporate bankruptcy.This system is of great significance in ensuring the survival and development of debtors and maintaining personal dignity.Based on the basic national conditions of China’s vast territory and the differences in economic development level,culture,and historical traditions among different regions,in order to better apply the exemption property system,it is necessary to carefully determine the scope of exemption property in each region.Due to the pilot exploration stage of the personal bankruptcy system in China,it is inevitable that the exemption property system will encounter some obstacles in the actual operation process.To establish a nationwide personal bankruptcy system and find a breakthrough in the implementation obstacles of the exemption property system.This article takes the exemption property system in the exploration of personal bankruptcy legislation in China as the main research object,and the main content is as follows:The first part is an overview of the personal bankruptcy exemption property system.Firstly,by summarizing the meaning and characteristics of exempt property in personal bankruptcy,it is clear that exempt property is a part of the bankruptcy debtor’s property,and that exempt property has specific characteristics such as uncertainty in its composition,limited protection for the debtor,and strictness of the applicable subject;Secondly,building an exemption property system is conducive to respecting and protecting human rights,safeguarding and realizing the order and fairness values of law,and is conducive to the construction of a socialist rule of law society.The second part is about the main difficulties and pilot system review of the construction of China’s personal bankruptcy exemption property system.Establishing a nationwide exemption property system must be based on China’s basic national conditions.Studying the current social situation in China,it can be found that the exploration of the construction of the personal bankruptcy system in China is not yet sufficient,the traditional cultural concepts of the people are deeply rooted,and the definition of the scope of exempt property is relatively difficult.At the same time,the existing professional team of bankruptcy judges and administrators is too weak.These factors have become the main difficulties and obstacles in building the personal bankruptcy exempt property system in China.Deeply exploring the experience and shortcomings of the Shenzhen Special Economic Zone Personal Bankruptcy Regulations on exempting property legislation can provide useful insights for building a unified personal bankruptcy exemption property system in China.The third part is about the investigation and reference of foreign personal bankruptcy exemption property systems.The representative countries of the two major legal systems,including the United Kingdom,the United States,Germany,and Japan,have mainly formed two basic models of personal bankruptcy exemption property legislation: generalization and enumeration.Currently,the legislative trend in various countries is to integrate the two;Of course,there are also differences in their regulations on the specific composition of exempt property,which are caused by differences in historical traditions,regional cultures,and other factors among countries.China should also develop appropriate types of exempt property that are suitable for its own country.In addition,various countries have established bankruptcy management agencies in their personal bankruptcy exemption property legislation to participate in handling personal bankruptcy cases,which also has reference significance for the design of China’s personal bankruptcy exemption property system.The fourth part proposes the construction of China’s personal bankruptcy exemption property system.Firstly,the construction of an exemption property system should reasonably define the scope of exemption property;Secondly,it is necessary to refine the specific normative design of the exemption property system by establishing a bankruptcy administrative agency,improving the objection,application,and disclosure procedures for exemption property,and designing a reasonable system for individual repayment,disposal of security rights,and reasonable conversion of exemption property;Once again,it is necessary to improve the relevant supporting systems for exempt property by improving the personal property registration system,personal credit system,and social security system to ensure the effectiveness of the exemption property system;Finally,in order to break through other obstacles that affect the personal bankruptcy exemption property system,it is necessary to further strengthen the local judicial practice of the personal bankruptcy system and cultivate the public’s trust in bankruptcy laws.