股東提案權爭議與商業事件審理新制之探討

The Exploration on the Right of Shareholder Proposal and the Commercial Case Adjudication Act

林恒志(Lin, Heng-Chih)

《臺灣財經法學論叢》 4卷1期 (2022/01) Pp. 1-64

摘要

本文主要目的是探討股東提案權之制度及股東提案權一旦發生爭議或訴訟時，在臺灣剛施行之商業事件審理法適用之相關問題。本文第一部分介紹2021年7月1日生效之商業事件審理法，其有別於傳統民事訴訟程序之相關特別規定，諸如：律師強制代理、商業調查官設置、調解前置制度、審理計畫、資訊查詢請求權、專家證人、定暫時狀態處分等，蓋因根據商業事件審理法第19條規定「商業法院處理商業事件，依本法之規定；本法未規定者，商業訴訟事件適用民事訴訟法之規定」因此區辨商業事件審理法之特別程序規定與傳統民事訴訟法之規定，即顯特別重要。本文第二部分則探討臺灣、美國之股東提案權規定及日本股東提案權之部分規定，尤其是美國，在2020年9月23日證管會（SEC）剛公布新修訂之委託書規則14a-8，其內容即規範股東提案權之制度，美國此次新修訂之內容及對股東提案權制度之思維或可提供我國將來修法時之參考。本文第三部分，首先是整理、分析過去臺灣15年來因股東提案權爭議所產生的司法訴訟案件，大致分為三類型：本案訴訟、定暫時狀態處分、撤銷股東會決議訴訟，若將來公開發行股票公司產生股東提案權爭訟，依商業事件審理法係全部由商業法院依商業事件審理法審理時，本文亦分析在適用上開法律時所產生之相關問題。

關鍵字

股東提案 ； 商業事件審理法 ； 美國委託書規則14a-8 ； 定暫時狀態處分 ； 商業法院

並列摘要

The purpose of this article is to explore the shareholder proposal rule and how the disputes arising from the shareholder proposal are resolved under the newly implemented Commercial Case Adjudication Act in Taiwan. The first part of this article introduces the special procedures of the Commercial Case Adjudication Act, such as mandatory representations by lawyers, the establishment of commercial investigating officers, compulsory pretrial mediation, plans of trial, the right to request the interrogatories of the opposing party, expert witnesses, and preliminary injunctions. Article 19 of the Act prescribes that, ＂The Commercial Court hearing and adjudicating commercial cases shall be governed by the provisions of this Act. Where such matters are not stipulated in this Act, the provisions of Taiwan Code of Civil Procedure shall apply to commercial litigation cases.＂ Therefore, identifying the differences between special procedures and civil procedures is extremely important. The second part of this article discusses the shareholder proposal rule in Taiwan, United States, and part of the relevant rule in Japan. Since the Securities and Exchange Commission (SEC) of United States just adopted amendments to the procedural requirements and resubmission thresholds relating to shareholder proposals submitted for inclusion in company proxy statements pursuant to the Securities Exchange Act Rule 14a-8 on September 23, 2020, it can be used as a reference in providing Taiwan directions for future reforms. The third part of this article explores how the shareholder proposal litigations will be adjudicated under the Commercial Case Adjudication Act. This part begins with the analysis of shareholder proposal litigations in Taiwan in the past 15 years and categorizes the types of litigations. It concludes with the procedures and results of applying the Commercial Case Adjudication Act to public companies in shareholder proposal litigations.

並列關鍵字

Securities Issuance Regulation ； Information Disclosure ； Merit Review System ； Effective Registration System