摘要
存托凭证作为跨境衍生证券,其准据法的确定是一个相当复杂的问题。总的来说,存托凭证准据法的确定应适用《法律适用法》第39条,而最恰当的做法是适用存托凭证权利实现地的法律,但存托凭证的权利实现地具有复杂性,准据法的确定应区分不同的情形。存托凭证的物权纠纷应适用物之所在地法,其证券权利纠纷需区分衍生证券权利与基础证券权利,衍生证券权利纠纷应适用我国法律,基础证券权利纠纷需区分股票和债券的不同情形,股票权利中的股东身份权应适用公司属人法,公司法上的股票财产权应适用公司属人法,证券法上的股票财产权应适用股票上市地法,债券权利应适用债券上市地法。
As cross-border derivative securities,the determination of the applicable law of depository receipts is a rather complicated problem.In general,depository receipts should be due to Article 39 of the Chinese Applicable Law Act,and the most appropriate approach is to apply the law of the place where the rights of depository receipts are realized.However,due to the complexity of the right realization place of the depository receipts,the determination of the applicable law should distinguish different situations.The real right disputes of depository receipts should be applied to the law of the place where the property is located.Derivative security rights and underlying security rights should be distinguished in disputes of security rights.Derivative security right disputes should be governed by Chinese law.Stock and bond should be distinguished in underlying security right disputes.In stock rights disputes,shareholder's identity rights should be applied to company’s personal law,stock property rights in company law should be applied to company’s personal law,stock property rights in security law should be applied to the law of the place where the stock is listed.In bond rights disputes,bond rights should be applied to the law of the place where the bond is listed.
作者
程即正
CHENG Ji-zheng(Law School,Nankai University,Tianjin 300350,China)
出处
《天津法学》
2020年第2期44-49,共6页
Tianjin Legal Science
关键词
存托凭证
有价证券
权利实现地
最密切联系原则
depository receipts
securities
realization place of rights
principle of the most significant relationship
