Company Law of the People’s Republic of China (Revised in 2013)

2017 ◽  
pp. 97-173
Author(s):  
Giovanni Pisacane
Keyword(s):  
Company Law ◽  
People’S Republic Of China ◽  
People's Republic Of China ◽  
Republic Of China

Getting Personal

2014 ◽  
Vol 1 (4) ◽  
pp. 337-356
Author(s):  
Jurian van der Pas
Keyword(s):  
Direct Action ◽  
Company Law ◽  
People’S Republic Of China ◽  
People's Republic Of China ◽  
Republic Of China ◽  
Grey Area ◽  
Legal Obligations ◽  
The Law ◽  
Procedural Guidance ◽  
Personal Liability

Pursuant to article 149 Company Law of the People’s Republic of China 2013 (clc), directors will be liable for the damages of the company if their actions violate the law, administrative regulations, or the company’s statutes. According to article 152 clc, directors will also face liability towards the company’s shareholders in case of a violating action that caused direct damages to the shareholders. Unfortunately, however, these provisions and their corresponding legal obligations are general and offer no procedural guidance, nor do they elaborate on the scope and extent of the directors’ personal liability. Furthermore, it is by and large ambiguous what the directors’ responsibilities are towards the creditors of the company. This article discusses this grey area of the clc by critically comparing it with the Dutch system of directors’ liability. Upon analysis, the author proposes to introduce a standard of fault in China to determine the scope and extent of the directors’ personal liability. In addition, the author argues that China should provide the company’s creditors with a direct action against the directors for compensation of their real damages.

A Comparative Study of the Fundamental Elements of Chinese and English Company Law

1999 ◽  
Vol 48 (1) ◽  
pp. 88-126 ◽  
Author(s):  
Kingsley T. W. Ong ◽  
Colin R. Baxter
Keyword(s):  
Comparative Study ◽  
World Economy ◽  
Company Law ◽  
People’S Republic Of China ◽  
People's Republic Of China ◽  
Republic Of China ◽  
The World ◽  
Leading Position ◽  
Chinese And English

The People's Republic of China (hereafter “PRC” or “China”) is set to attain a leading position in the world economy. Headlines such as “the giant awakes” have been in common usage for some time.1 European businesses have come to realise that China cannot be ignored. Their legal advisers should follow suit. This explains the motivation for this article.

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