Vlastite dionice

master's thesis

• Title (english): Treasury (own) shares
• Author: Martina Belani
• Mentor: Antun Bilić (mentor)
• Committee member: Antun Bilić (predsjednik povjerenstva)
• Committee member: Hrvoje Markovinović (član povjerenstva)
• Committee member: Tomislav Jakšić (član povjerenstva)
• Granter: University of Zagreb; Faculty of Law; (Company Law and Company Law); Zagreb
• Defense date and country: 2022-09-20, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Law

Abstract

Tema rada su vlastite dionice dioničkog društva. Vlastite dionice su dionice koje drži dioničko društvo izdavatelj. Kako se kod vlastitih dionica javlja specifično pravno stanje gdje članstvo u društvu nema treća fizička ili pravna osoba, već bi ta prava i obveze moglo ostvarivati samo društvo, potrebno je detaljno regulirati uvjete pod kojima društvo smije stjecati vlastite dionice. U protivnom bi moglo doći do potencijalne zlouporabe navedenog instituta. Stjecanje vlastitih dionica može imati određene prednosti, ali njihovo stjecanje protivno pravnim pravilima i načelima tržišne prakse može za društvo predstavljati rizik i pravne posljedice. Stoga je stjecanje vlastitih dionica načelno zabranjeno. Međutim, društvo ipak smije u taksativno propisanim slučajevima temeljem zakona ili temeljem odluke glavne skupštine stjecati vlastite dionice. Kod stjecanja vlastitih dionica razlikujemo dva pravna posla, obveznopravni posao kojim se preuzima obveza prijenosa dionica (titulus) i pravni posao prijenosa dionica (modus). Kada društvo stekne vlastite dionice protivno pravnim pravilima pravni posao (titulus) je ništetan jer nisu ispunjenje pretpostavke za stjecanje, ali društvo će ipak valjano steći dionice ako je pravni posao prijenosa dionice (modus) valjan. Pravne posljedice koje se javljaju prilikom nedopuštenog stjecanja dionica su otuđenje ili povlačenje dionica u određenom roku, a potencijalno i odgovornost članova uprave, odnosno izvršnih direktora za takvo stjecanje.

Abstract (english)

The topic of the paper is the company's own shares. Own shares are shares held by the issuing company. As there is a specific legal situation with own shares where membership in the company is not held by a third natural or legal person, but the company itself could exercise these rights and obligations, it is necessary to regulate in detail the conditions under which the company may acquire its own shares. Otherwise, there could be a potential abuse of that institute. Acquiring own shares may have certain advantages but their acquisition contrary to legal rules and principles of market practice may represent risks and legal consequences for the company. Therefore, the acquisition of own shares is prohibited in law. However, the company is still allowed to acquire its own shares in specified cases based on the law or based on the decision of the general assembly. When acquiring one's own shares, we distinguish between two legal transactions, the obligatory legal transaction that assumes the obligation to transfer shares (titulus) and the legal transaction of transferring shares (modus). When the company acquires its own shares contrary to legal rules, the legal deed (titulus) is void because they do not fulfill the prerequisites for acquisition, but the company will still validly acquire shares if the legal deed of share transfer (modus) is valid. The legal consequences that occur during the illegal acquisition of shares are the alienation or withdrawal of the shares within a certain period, and potentially the responsibility of the board members, that is, the executive directors for such an acquisition.

• Keywords: Ključne riječi: vlastite dionice; svrha i rizici stjecanja; insider trading; stjecanje vlastitih dionica; ništetnost obveznopravnog posla; pravne posljedice nedopuštenog stjecanja
• Language: croatian
• URN:NBN: urn:nbn:hr:199:524517
• Study programme: Title: Law; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: magistar/magistra prava (magistar/magistra prava)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access
• Created on: 2022-09-26 09:22:08