| 英文摘要 |
The so-called substantive related party has not been clearly defined in company act, securities exchange act or financial law and regulation, which has led to disputes in the identification of business operations, financial supervision and judicial practice. As far as the disclosure of information on the transactions and financial reports of public companies are concerned, the current laws and regulations require that when judging whether the transaction subject is a related party, should pay attention to its legal form and consider the substantive relationship. The Financial Supervisory Commission not only uses specific cases ruling, also requires the financial industry to establish a control mechanism for transactions with substantive parties by issuing several administrative orders. This article starts with the introduction of the concept and normative basis of substantive related party, and then discusses some issues such as the criteria for identifying substantive related party and similar concept. In addition, it also analyzes whether substantive related party is applicable to laws and regulations of related party transactions to resolving practical disputes. Finally, the conclusions and recommendations of this article are put forward. |
