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控制股东是指能够控制他公司的表决权或实际经营管理权的股东,控制股东私益交易 (self dealing)是关联交易(cOnnect dealing)中最需要规制的部分。控制股东、公司管理者 (包括董事和高级职员)属于公司内部人,在交易中既是公司的决策者,又是交易的另一方,他们操纵的关联交易是典型的私益交易。其他次要股东、边缘人士等具有影响力,但对公司决策不具有决定作用,他们发生的关联交易一般不具有私益交易的特征。
A controlling shareholder is a shareholder who can control the voting rights or actual management rights of his company. The controlling shareholder self-dealing is the most needed part of the connected transaction. Controlling shareholders, corporate managers (including directors and officers) belong to the insiders of the company. They are both the decision maker of the company and the other party of the transaction. The related party transactions they manipulate are typical private transactions. Other minor shareholders, marginal persons and others have influence, but they have no decisive effect on the company’s decision-making. The related transactions that they take place generally do not have the characteristics of private trade.