再論公司法第二十七條―公司治理強化下的另一種思考

Revisiting the Article 27 of Taiwan Company Law-From the Perspective of Reinforcing Corporate Governance

邵慶平(Ching-Ping Shao)

《財產法暨經濟法》 2期 (2005/06) Pp. 97-135

摘要

公司法第二十七條是我國公司法中極受爭議的條文，多數學者認爲該條文是公司治理之亂源所在，而應將之全盤或一部予以刪除，惟由於企業實務界的強大阻力，此一學說上的多數看法並未能在二○○一年公司法修正時獲得立法機關的支持，此一法人股東機制遂仍繼續存於我國公司法中。
本文認爲對於法人股東機制的改革，必須兼顧學界的理想與企業實務的需求。在就學界、企業實務對公司法第二十七條之立場加以分析後，本文主張應從強化外部董事制度的觀點思考法人股東機制存在的正面意義。配合嚴格規定外部董事的資格、提高外部董事的比例等措施，本文提議在公司法第二十七條中增加法人股東的持股門檻限制，藉由股東與董事利益的結合以及權責相符的制度，促使法人股東在台灣的公司治理模式中扮演建設性的力量。

關鍵字

公司法第二十七條 ； 法人股東 ； 公司治理 ； 外部董事 ； 獨立董事

並列摘要

Article 27 is one of the highly controversial provisions in Taiwan Company Law. It is commonly believed by academics and scholars that this Article is the major cause of corporate governance turmoil in Taiwan and should be removed, in part or in the whole, from the Company Law. Mainly due to the strong resistance from the business community, however, the proposal to revise this Article received little support from the lawmakers when the revision draft was discussed and finally enacted in 2001. This Article, therefore, remains intact in the Company Law.
To reform the ”legal person” shareholder mechanisms brought by Article 27, the proposition of this paper is to first harmonize the different views from the scholarly and business community. After a full set of analysis from both perspectives of scholars and practitioners, it is concluded in this paper that the implementation of outside director institution may actually benefit from the positive side of Article 27. With stricter qualifications for outside director positions and higher ratio in the board composition, this paper proposes to impose a shareholding threshold on the ”legal person” shareholders to employ the Article 27 mechanisms. By aligning the interests and responsibilities of the directors with the bloc shareholders, ”legal person” shareholder under Article 27 is expected to play a constructive role in Taiwan's model of corporate governance.

並列關鍵字

Article 27 of Taiwan Company Law ； legal person shareholder ； corporate governance ； outside director ； independent director