Although the stock right holding has the factor of hiding the true shareholder identity, it is recognized and protected at the legal level.
Article 13 of the Measures for the Administration of Initial Public Offering and Listing and Article 15 of the Measures for the Administration of Initial Public Offering and Listing on the Growth Enterprise Market stipulate that "the issuer's equity is clear, and there is no major ownership dispute between the controlling shareholder and the shareholders controlled by the controlling shareholder and the actual controller". Therefore, the CSRC requires enterprises to clean up the shareholding relationship before IPO. Specifically, from the feedback from the CSRC, we can see that the focus of the CSRC's audit is on the historical reasons and the authenticity of the relationship, whether the process of holding shares is legal and effective, and whether the processing results of holding shares meet the requirements of clear ownership.
There are three kinds of legal relationships in stock right holding:
First, the legal relationship between actual shareholders and nominal shareholders;
Second, it is the legal relationship between actual shareholders, nominal shareholders and the company;
The third is the relationship between actual shareholders, nominal shareholders and the third party outside the company.
So how do we judge the authenticity of the shareholding relationship? On the one hand, we can consult the entrustment agreement between the prominent shareholder and the anonymous shareholder and confirm it to both parties; on the other hand, we can judge the authenticity of the entrustment relationship by finding out whether the anonymous shareholder actually contributes and whether the anonymous shareholder actually enjoys the shareholders' rights and interests.
What are the reasons for the holding of shares as follows:
1 The Company Law stipulates that the maximum number of shareholders of a limited liability company is 50, and employees who have too many shares may choose to hold them on their behalf.
2. In addition to the upper limit of shareholders, there is also a requirement for the lower limit of the number of shareholders (2 persons). The founder will choose another person to hold the shares and the two will set up a limited liability company.
It should be noted that the following persons cannot legally become shareholders by contributing capital:
1 Persons who are leading party and government cadres and civil servants in government departments or other units that refer to the management of civil servants (including leading party and government cadres in colleges and universities)
2 soldiers
3 leading cadres of state-owned enterprises
4 personnel who violate the prohibition of business strife
5 foreigners or institutions