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Построение новой системы юридических лиц в России: основные подходы
являть властные публичные полномочия, находиться под контролем
государства; основные цели таких лиц должны быть направлены на достижение общественной пользы, должны быть публичными.
Не касаясь идейного противоборства сторонников и противников
закрепления статуса юридических лиц публичного права, лишь скажем, что очевидным является необходимость адекватного правового
закрепления статуса всех субъектов, включая Центральный банк РФ,
Академию наук и др. Можно лишь дать время для выработки наиболее
четкого определения основных признаков таких лиц, но не замечать
проблему и не решать ее нельзя.
Еще одним из вышеназванных направлений современных дискуссий является обсуждение вопроса об установлении различных правовых условий для деятельности публичных и непубличных обществ1
в целях повышения гибкости законодательства о хозяйственных обществах, снижения издержек для непубличных обществ. Реализуя
указанные цели, разработчики законопроекта предлагают отказаться
от формального деления акционерных обществ на открытые и закрытые и ввести разный правовой режим для обществ, акции которых
обращаются на рынке, и для всех остальных обществ. Для акционерных обществ, акции которых публично не обращаются (непубличные
общества), предлагается предусмотреть возможность более гибкого
режима договорного распределения прав контроля, который мог бы по
решению акционеров допускать: возможность перераспределения прав
контроля без соблюдения процедур раскрытия информации; возможность для акционеров договариваться об установлении повышенного
квалифицированного большинства для принятия отдельных решений;
бóльшую свободу в распределении компетенции органов управления
и иной порядок избрания членов совета директоров и т.д. Идея дифференцированного подхода к обществам назрела давно, другой вопрос,
каким образом вновь найти баланс интересов и не переложить затраты
обществ на плечи их контрагентов? Любое диспозитивное регулирование должно учитывать механизм справедливого перераспределения
рисков между участниками рынка.
Как было сказано ранее, ключевым словом в исследуемой теме
является слово «система». Основная проблема формирования современного российского законодательства о юридических лицах – это
1
См.: URL: http://www.corp-gov.ru/bd/db.php3?db_id=4314&base_id=49
91
С.А. Чеховская
ситуативное появление новых элементов системы, которое, без сомнения, опиралось на конкретную практическую потребность. Однако
без учета системного подхода создаваемый комплекс юридических лиц
потерял свою целостность и управляемость. Это видно на примере
формирования постоянно увеличивающегося числа видов организационно-правовых форм некоммерческих организаций. В частности, после
критикуемой организационно-правовой формы «государственная
корпорация» (ст. 7.1 Федерального закона от 12 января 1996 г. № 7-ФЗ
«О некоммерческих организациях») появилась и другая, не менее скандальная, – «государственная компания» (ст. 7.2 Закона). Таким же ситуативным решением было и принятие в первом чтении законопроекта
«О хозяйственных партнерствах».
Разработка проекта закона «О хозяйственных партнерствах» вполне
предсказуема, тем более что это согласуется с процессом появления новых форм бизнеса за рубежом. В пояснительной записке к законопроекту
разработчики ориентируются главным образом на особенности подготовки, реализации и прекращения инновационных бизнес-проектов,
предлагают разработать организационно-правовую форму, наиболее
учитывающую такие особенности, и предусмотреть:
– ограниченную ответственность участников компании по ее обязательствам в пределах стоимости внесенных ими вкладов и пропорционально их размеру;
– организацию управления, основанную на всеобъемлющем гибком
соглашении сторон (участников), включая саму компанию и, в случае
необходимости, иных лиц (в том числе не являющихся участниками
компании), и обеспечение исполнения такого соглашения с использованием не подлежащих снижению санкций;
– возможность непропорционального распределения прав и обязанностей участников, прибыли и убытков, голосов и т.д.;
– возможность выпуска ценных бумаг (в том числе со специальными
характеристиками, например особыми ликвидационными правами);
– невозможность произвольного выхода (выдела доли) участников из
венчурного (инновационного) бизнес-проекта в течение заранее установленного срока или до достижения установленной соглашением цели;
– возможность договорного установления специального порядка
и условий оборота акций (долей) компании;
– минимальные затраты на ликвидацию компании (включая временные) и др.
92
Построение новой системы юридических лиц в России: основные подходы
Однако в тексте законопроекта уже не прослеживается инновационная особенность таких лиц, а лишь предусматривается, что перечень
видов деятельности, которые не могут осуществляться партнерствами,
утверждается Правительством РФ.
Насколько оправданно решение специальных экономических задач
таким инструментом, как организационно-правовая форма юридического лица, остается очень серьезным вопросом. Опыт государственных
корпораций показал бесперспективность такого пути. Создание новой
формы должно согласовываться с развитием системы юридических лиц
и правовой системы России в целом. В какой мере будут применимы
действующие нормы о товариществах и обществах к хозяйственным
партнерствам?
Привлекательность подобных форм за рубежом [LLC (Limited
Liability Company), США; LLP (Limited Liability Partnership), Великобри-
тания; KGaA (Kommanditgesellshaft auf Aktien), Германия] обусловлена
и налоговой привлекательностью, поскольку исторически партнерства
за рубежом не являются юридическими лицами. В России товарищества являются юридическими лицами, и тем самым вопрос может
оказаться намного серьезнее, чем просто введение еще одной новой
организационно-правовой формы.
Сделаем краткие выводы из всего вышеизложенного.
Развитие рыночной структуры российской экономики перешло на
следующий этап своего развития. Такое поступательное движение ставит
новые задачи перед законодательством, в том числе о юридических лицах.
Системный подход к реформированию законодательства о юридических лицах позволит создать управляемое число форм юридических
лиц и тем самым обеспечить правовую определенность для всех участников рынка.
Появление новых форм бизнеса должно способствовать развитию
системы юридических лиц в целом, согласованности с действующим
правовым порядком.
Для развития системы юридических лиц в целом целесообразнее
устанавливать гибкие правила в рамках существующих форм юридических лиц для непубличных юридических лиц.
Далее, закрепленные в законодательстве наименее экономически
затратные формы ведения бизнеса должны быть сбалансированы нормами о защите интересов всех участников рынка, а также о невозможности необоснованного переноса рисков с одних субъектов на другие.
S.A. Chekhovskaya,
National Research University
«The Higher School of Economics»
Faculty of Laws, associate professor
formation of a new SyStem of legal entitieS
in ruSSia: main aPProacheS
The system of legal entities in any state is constantly developing. This
is determined by the impact of socio-economic, legal, political and other
factors. The modern forms of legal entities in Russia were formed at the
end of the 20th century, during the formation period of market economy.
The main purpose of laws regulating economic turnover in that period was
to ensure the market development of Russia which required:
– the filling up of the market with participants carrying out business activities;
– creation of legal rules making business possible;
– creation of the market infrastructure: above all, the system of noncommercial organizations.
In the modern period there have appeared many factors that affect the system
of legal entities one way or another. These pose the following tasks before Russia:
– modernization of the Civil Code in the sense of its systematic updating,
the creation of rules that meet the most recent developments in Russia;
– adoption of anti-recessionary measures;
– creation of the International Financial Center in Moscow;
– innovative economic development.
Nowadays, the search for new business forms has also been activated in
foreign countries where the emphasis is made on reforming legislation on
partnerships1 in response to needs of small and medium-sized businesses
1
McCahery J., Vermeulen E. Understanding unincorporated business forms. Moscow:
The National Council on Corporate Governance, 2007. P. 12.
94
Formation of a new system of legal entities in Russia: main approaches
(SMBs)1. A few crucial questions arise, e.g. to what extent the use of one-sizefits-all approach to provisions setting forth minimum capital requirements,
for joint-stock companies is appropriate and adequate? Small and mediumsized businesses incur large expenses complying with the minimum capital
requirements, even when they are private companies. However, this does
not mean that the search for ‘less expensive’ business forms should result in
increasing expenses for their counterparties (uncertainty about the governance
and decision making in the other company will require special knowledge,
and hence, additional expenses). Some balance should be found by legislators
between non-mandatory rules, permitting the parties to choose freely a
model of their relationships on the one hand, and secured legal certainty and
protection of all market participants on the other hand.
It should be added that the search for new legal business forms is also
caused by competing legal regulations adopted by different jurisdictions
(in the US this competition exists even among the states). I suppose that
regulatory competition of jurisdictions that offer the most adequate current
requirements and flexible business forms will enhance the process of
reforming legislation on legal entities in all countries. This issue will be of
particular importance for Russia developing its economic relations within
the Customs Union (Kazakhstan is a serious competitor here).
The problem of reforming separate elements of the system of legal entities
in Russia is raised in different terms. The main trends of amending the system
of legal entities are as follow2:
– the reduction of the number of organizational forms of legal entities;
– further reflection in legislation and in practice of the economically
favorable business forms;
– systematizing of current organizational legal forms of non-commercial
organizations;
– transition to new forms of venture capital groups for accumulating and
managing investment resources.
In general, one can agree with the stated directions of search for new forms
of legal entities. At the same time it should be mentioned that the questions
how the reform processes will develop the system of legal entities in general,
1
Vermeulen E.P.M. The evolution of legal business forms in Europe and the United States:
venture capital, joint venture and partnership structures. Kluwer Law International, 2003. P. 4.
2
Serova O.A. The construction The design of the legal entity in the evolutionary changes
system of organizational-legal forms of entrepreneurial activity (ConsultantPlus).
95
S.A. Chekhovskaya
or how the new system will be incorporated into the legal system of Russia
and be adjusted with the current legal order are often disregarded.
Let us examine the most controversial issues concerning the laws on legal
entities one way or another. An attempt will be made to analyze the factors
affecting the reform processes in this field of legislation.
The most controversial questions are:
1. The realization of the Conception on the development of legislation
on legal entities as an integral part of the Conception on the development of
the civil legislation of the Russian Federation1;
2. The status of public companies;
3. The enactment of different legal regimes for public and non-public
economic units (the draft law is being prepared by the Ministry of the
Economic Development);
4. The status of commercial partnerships (federal draft law No. 557159-5
on Commercial Partnerships (introduced by the Government of the Russian
Federation and passed the first reading: Resolution of the State Duma of the
Federal Assembly of the Russian Federation No. 5551-5 GD, of 29.06.20112).
Let us dwell briefly on each of the above issues. The provisions of the
Federal Draft Law on Amending the Civil Code of the Russian Federation
(being drawn up by the Council under the President of the Russian Federation
on the codification and modification of the civil legislation)3, namely, the
draft amendments to the first section of the Russian Civil Code imply the
following:
– preservation of the ‘two-tier’ regulation of the status of legal entities
(general rules are found in the Civil Code, while special rules are contained
in separate laws);
– the setting of the exhaustive (closed) list of commercial, as well as of
non-commercial organizations (as the process of developing new forms has
got out of control);
– specified definition of corporation for the purpose of the uniform
regulation of all relations of corporate nature;
– express status of public joint-stock company;
– rejection of ‘additional liability company’ business form.
1
Available at: http://www.privlaw.ru/index.php?section_id=24
2
The project is available at: http://asozd2.duma.gov.ru/main.nsf/%28Spravka%29?Open
Agent&RN=557159-5&02
3
The project is available at: http://www.arbitr.ru/press-centr/news/31202.html
96
Formation of a new system of legal entities in Russia: main approaches
However, the whole complex of questions raised with regard to the
development of the system of legal entities is not confined to the proposed
amendments to the Russian Civil Code (in terms of realization of the
Conception on the Development of Legislation on Legal Entities).
Another issue to discuss concerns the status of public legal entities or legal
entities of public law. Conceptually the formation of the modern legislation
specifying the status of a legal entity of this type and ensuring its activities was
provided previously by the Conception on the Development of the Corporate
Legislation for the Period Until 2008, which was drafted by the Ministry of
the Economic Development of the Russian Federation1. Clause 14 of the
Schedule of Measures attached to the Conception provided for drafting
the concept and a draft law aimed at forming the legislation on public legal
entities (with the aim of introducing the category of legal entities of public
law into the Russian law).
At present the supporters of this idea propose2:
– to set criteria for differentiating state and non-state legal entities of
public law;
– to define non-state legal entity of public law as that which is established at
the state initiative; which should exercise public powers and be controlled by the
state; the main aim of which is to serve for the public good; it should be public.
Without discussing ideological arguments for and against the defined
status of legal entities of public law it is worth mentioning that there is urgent
necessity to provide for the adequate legal status of all participants, including
the Central bank of Russia, Academy of Sciences and others. Some time is
obviously required to work out the more precise definition including the
main features and qualities of such entities, but the problem should neither
be ignored nor rejected, it should be solved.
The third of the abovementioned directions of the discussions is the
setting of different legal provisions regulating activities of public and nonpublic companies3 with the aim of increasing the flexibility of legislation
on economic units, and reducing costs for non-public companies. In this
connection, the drafters propose to abandon the formal division of jointstock companies into public and private ones, and to introduce differentiated
1
http://www.corp-gov.ru/bd/db.php3?db_id=3842&base_id=3
2
Yastrebov O.A. Criteria of the legal entities delimitation in public and private law
(ConsultantРlus).
3
Available at: http://www.corp-gov.ru/bd/db.php3?db_id=4314&base_id=49
97
S.A. Chekhovskaya
legal regimes for listed and non-listed companies. It is also proposed to
provide more flexible regime of the contractual allocation of controlling rights
for non-listed (non-public) companies which could permit shareholders to
decide on the reallocation of controlling rights without complying with the
information disclosure procedures, to agree on ‘supermajority’ provisions for
the adoption of particular decisions, to have more freedom in the allocation
of powers among governing bodies and to install different election procedure
for the members of the board of directors, etc. The idea of the differentiated
approach to companies became ripe long ago; the question is how to restore
the balance of interests without shifting the costs of the companies on the
shoulders of their counterparties. Any non-mandatory regulation should
account for the fair allocation of risks among the market participants.
As has been mentioned above, the key word in the present research is
the word ‘system’. The main problem of the modern Russian legislation
on legal entities is the sporadic appearance of new elements in the system
necessitated undoubtedly by specific practical needs. But without systematic
approach the developing complex of legal entities has lost its integrity and
controllability. This is well exemplified constantly growing number of
organizational legal forms of non-commercial companies. Thus, heavily
criticized organizational legal form of ‘state corporation’ (Article 7.1 Federal
Law No. 7-FZ «On Non-Commercial Organizations» of 12.01.1996) was
followed by a new, not less wretched ‘state company’ (Article 7.2 Federal Law
No. 7-FZ «On Non-Commercial Organizations» of 12.01.1996). Similarly,
draft law on commercial partnerships was approved at the first reading.
The development of the draft law on commercial partnerships is quite
predictable, particularly, as it is in line with the appearance of new business
forms in other jurisdictions. In their explanatory note to the draft law, the
draftsmen focus mainly on specifics of the preparation, realization and
dissolving of innovative business projects. Baring this in mind, they propose
to provide for an organizational legal form with the following specific features:
– liability of the company members limited by the amounts of their
contributed shares to the company capital and proportionate to their number;
– the corporate governance based on comprehensive flexible multi-party
agreement including the company itself, and, if necessary, other parties
(including non-company members), and ensuring the enforcement of the
agreement imposing irreducible sanctions;
– permitted disproportionate allocation of rights and obligations of the
parties, as well as profits, losses, votes, etc.
98
Formation of a new system of legal entities in Russia: main approaches
– possibility of issuing securities (including securities with special
characteristics, for example, with special liquidation rights);
– the restriction of the arbitrary leave of a company member (allotment
of shares) from the venture (innovative) business-project during an initially
specified period or before the aim set in the agreement is achieved;
– the possibility to determine contractually special procedure and
conditions of the company’s stock (shares) turnover;
– minimal costs of the company liquidation (including temporary ones)
and other rights.
However, the draft law makes no provision for the ‘innovative’ specifics of
these entities any longer, it only provides that the list of activities that cannot
be carried out by partnerships, shall be determined by the Government of
the Russian Federation.
Whether it is justifiable to attain special economic goals with such an
instrument as the organizational legal form of a legal entity, remains a very
serious question. The experience of state corporations has revealed the lack
of prospects of this means. The creation of a new form should comply with
the development of the whole system of legal entities and the Russian legal
system in general. To what extent will the current rules on partnerships and
companies be applicable to commercial partnerships?
The attraction of such forms in foreign jurisdictions (LLC – Limited
Liability Company in the USA, LLP – Limited Liability Partnership in the
United Kingdom, KGaA – Kommanditgesellshaft auf Aktien in Germany)
is also conditioned by tax considerations, as historically partnerships are not
deemed to be legal entities there. Partnerships are legal entities under Russian
law; thereby the question might be much more serious than the introduction
of one more new organizational legal form.
The following conclusions can be drawn from the aforementioned.
The development of the market structure of the Russian economy has
switched to the next stage of its development. This forward movement
brings about new questions for law-makers, including the legislation on legal
entities.
The systematized approach to the reform of the legislation on legal entities
will allow creating a manageable number of forms of legal entities, thus, legal
certainty will be ensured for all market participants.
– The appearance of new business forms should contribute to the
development of the system of legal entities in general, and to more sufficient
co-ordination within the current legal order in particular.
99
S.A. Chekhovskaya
– The determination of flexible rules within the existing forms of legal
entities for non-public legal entities is the most effective way for general
development of the system of legal entities
– The search for and legislative provisions for the least expensive business
forms should be balanced by the protection of the interests of all market
participants, and by prohibition of unjustified ‘transfer’ of risks from one
party to the other.
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