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创业权市场的设立作为一种新的金融制度安排,正式启动的时间表已几次推后,与其缺少本身的法律依据以及创业板市场的规则及运行方式与我国《公司法》存在一定的冲突有较大关系。创业板市场的规则与《公司法》的条款在股本规模、上市企业成立年限、经营业绩、上市企业股东数量、无形资产入股比例、发起人和管理层持股等各方面存在着抵触。法律障碍的确是创业板市场的设立日期一再延后的一个重要因素,除此以外,从外部环境到内部准备,还有多方面的制约因素。
The establishment of the entrepreneurial market as a new financial system arrangement has been delayed several times after the formal start-up of the establishment of the financial market. Instead of having its own legal basis and the rules and operation of the GEM, there is a certain conflict with the “Company Law” of our country Have a greater relationship. The rules of the GEM and the provisions of the Company Law conflict with respect to the size of the share capital, the years of establishment of the listed companies, the operating results, the number of shareholders of the listed companies, the proportion of the shares of intangible assets, sponsors and management shares. Legal barriers are indeed an important factor in the delay of the establishment of the GEM market. In addition, from the external environment to the internal preparation, there are many constraints.