A Study in the 2005 Amendment of the Corporate Law in China
On Dec. 29, 1993, the Corporate Law in China was enacted and promulgated in the fifth National People Congress and the standing committee and was come into force on Jul. 1, 1994. After that, the several articles(article 67, 229 etc.) were amended in Dec. 25, 1999.
But there are many problems that applied the existing law provisions in the recent corporate system. The law maker in China knows about that matters, well. Therefore they will amend the same law for establishing and developing of the market economic system in socialism as well as solving the above problems. With the result, the many provisions of the same law was amended in Oct. 26, 2005 and was come into force on the Jan. 1, 2006.
In this article, I will study in the content of amended provisions about the establishment and the organs of the limited corporation in chapter 2 of the corporate law. The key point of this 2005 amendment of the corporate law is that firstly, the quality of the corporate law changes the enforcement regulation into the optional regulation. Secondly, the foundation of the corporation in the current law system is easier than that of past. Thirdly, they will solving the many problems about the chinese corporate governance.
Of course, the amendment of the corporate law will not have a tremendous impact on our investment in china. Because the relation between the related law of foreign investment and the corporate law is a special law to a general law. However, as the amendment of the corporate law, the related law of foreign investment also can not but change and harmony in the corporate law.
Consequently, the meaning of the article, in advance, is that we recognize the amendment direction of the foreign investment law and prepare thoroughly for the such alteration of the foreign investment in china.
A Study in the 2005 Amendment of the Corporate Law in China
On Dec. 29, 1993, the Corporate Law in China was enacted and promulgated in the fifth National People Congress and the standing committee and was come into force on Jul. 1, 1994. After that, the several articles(article 67, 229 etc.) were amended in Dec. 25, 1999.
But there are many problems that applied the existing law provisions in the recent corporate system. The law maker in China knows about that matters, well. Therefore they will amend the same law for establishing and developing of the market economic system in socialism as well as solving the above problems. With the result, the many provisions of the same law was amended in Oct. 26, 2005 and was come into force on the Jan. 1, 2006.
In this article, I will study in the content of amended provisions about the establishment and the organs of the limited corporation in chapter 2 of the corporate law. The key point of this 2005 amendment of the corporate law is that firstly, the quality of the corporate law changes the enforcement regulation into the optional regulation. Secondly, the foundation of the corporation in the current law system is easier than that of past. Thirdly, they will solving the many problems about the chinese corporate governance.
Of course, the amendment of the corporate law will not have a tremendous impact on our investment in china. Because the relation between the related law of foreign investment and the corporate law is a special law to a general law. However, as the amendment of the corporate law, the related law of foreign investment also can not but change and harmony in the corporate law.
Consequently, the meaning of the article, in advance, is that we recognize the amendment direction of the foreign investment law and prepare thoroughly for the such alteration of the foreign investment in china.