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受托人亲自管理义务属于受托人义务体系中的基本义务。它因关涉受益人权益与信托目的之根本实现,各国立法都以强制性规范的方式确立了这种法定义务,且仅允许在例外情形下免除该义务。我国的金融市场发展出了所谓的通道类信托。在这种信托中,信托当事人通过信托文件的约定可免除受托人的亲自管理义务。这种约定通过语义解释等难以被《信托法》第30条涵摄,它引发的法律矛盾和合法性难题一直为众多理论争议之焦点。只有借助客观目的解释方法,才能确定《信托法》第30条的规范目的,扩张其语义涵摄范围,确立其合理的解释结论,赋予这种免除以相应的正当性,为其提供必需的裁判规范。
The entrusted person’s own management obligation belongs to the basic obligation in the trustee’s obligation system. Because of its fundamental realization of the rights and interests of the beneficiaries and the purpose of the trust, the statutory obligations of all the countries are established in a mandatory and normative manner, and only the exemption of the obligation under exceptional circumstances is allowed. China’s financial markets have developed so-called channel trusts. In such trusts, the trust parties may exempt the trustees from their own management obligations through the agreement of trust documents. This kind of agreement is difficult to be covered by Article 30 of the Trust Law through semantic explanation and so on. The legal contradictions and the legitimacy problems it causes have always been the focus of many theoretical controversies. Only by means of an objective explanation of purpose can we determine the normative purpose of Article 30 of the Trust Law, expand its scope of semantic content and establish its reasonable conclusion of interpretation, giving it the appropriate justification to provide it with the necessary adjudication specification.