A.

S lc v Hai h thng php lut Common law v Civil law

H thng php lut Common Law v Civil Law l hai h thng php lut ln v in hnh trn th gii. Hai h thng ny c nhng im c th, to nn nhng "dng h" php lut, vi nhng c trng php l ring. 1. H thng Lut dn s (Civil Law), hay H thng php lut Php - c, H thng php lut lc a (Continetal Law), y l h thng php lut c nn tng bt ngun t h thng php lut ca Php, c v php lut ca mt s nc lc a Chu u. Trong php lut ca Php, c l quan trng nht v c nh hng ln ti php lut ca cc nc khc trong h thng php lut ny. H thng php lut ca cc nc ny nhn chung u chu nh hng ca Lut La M. Ngy nay, phm vi nh hng ca h thng Civil Law tng i rng bao gm cc nc Chu u lc a (Php, c, Italia), Quebec (Canada), Louisiana (M), Nht Bn v mt s nc Chu M Latinh (Brazin, Vndula). Ngy nay, cc hc gi lut so snh cho rng h thng Civil law phi c chia nh thnh 3 nhm khc nhau: + Civil Law ca Php: Php, Ty Ban Nha, v nhng nc thuc a c ca Php; + Civil Law ca c: c, A, Thy S, Hy Lp, Nht Bn, Hn Quc v Cng ha Trung Hoa (Lu : Lut Trung Hoa v Lut Vit Nam hin nay theo truyn thng hc thut, th c xp vo h thng php lut x hi ch ngha, nhng trn thc t nhiu qui nh v dn s, v t tng, v h thng To n li mang nhiu c im ca Civil Law);

+ Civil Law ca nhng nc Scandinavian: an Mch, Thy in, Phn Lan, Na Uy v Ailen. Lut ca B o Nha v Italia cng chu nh hng ca Php, c, nhng nhng b lut dn s th k 19 th gn hn vi B lut Napoleon v nhng b lut dn s th k 20 th li ging vi lut dn s ca c. V o to lut, th nhng nc ny li ging vi h thng php lut ca c hn. Lut nhng nc ny thng c gi l h thng lut c tnh cht pha tp (hybrid nature). 2. H thng Thng lut (Common Law), hay H thng php lut Anh - M, H thng php lut ngl - xcxng Php lut Anh - M l php lut ra i Anh, sau ny pht trin M v nhng nc l thuc a ca Anh, M trc y. y l h thng php lut pht trin t nhng tp qun (custom), hay cn c gi l h thng php lut tp qun, hay h thng php lut coi trng tin l (precedents/ judge made law). Common Law hin nay cn phi c hiu theo 3 ngha khc nhau: - Th nht, l mt h thng php lut ln trn th gii da trn truyn thng h thng php lut ca Anh; - Th hai, trn phng din ngun lut, n l (Case law) ca Common Law c to ra bi ta n, phn bit vi o lut ca Ngh vin; - Th ba, trn phng din h thng Ta n, Ta n v cc n l ca Common Law cng khc bit vi Ta n v cc n l ca Equity Law. Nh vy, quan nim tip cn php lut ca hai h thng php lut ny l khc nhau. H thng Civil law quan nim lut php l phi t cc ch nh c th (All law resides in institutions), cn h thng Common law li quan nim lut php c hnh thnh t tp qun (All law is custom).

u im r nt ca cc B lut trong Civil Law l tnh khi qut ha, tnh n nh cao (certainty of law). Php lut Common Law da ch yu trn ngun lut l tin l php (Stare decisis). Thm phn va l ngi xt x va l ngi sng to ra php lut mt cch gin tip. u im r nt nht ca cc tp qun l tnh c th, linh hot v ph hp vi s pht trin ca cc quan h x hi. Php lut lc a chia thnh lut cng (public law) v lut t (private law), cn php lut Anh - M kh phn chia. Cng php bao gm cc ngnh lut, cc ch nh php lut iu chnh cc quan h v t chc v hot ng ca c quan nh nc, nhng quan h m mt bn tham gia l cc c quan nh nc. Cn t php bao gm cc ngnh lut, cc ch nh php lut iu chnh cc quan h lin quan n cc c nhn, t chc khc.

B. Hai h thng php lut v cu trc qun tr ni b ca cng ty c phn:

Lut cng ty hin i ca cc dng h lut trn th gii u phn chia quyn lc trong CTCP, tc l thm quyn quyt nh cc vn lin quan n cng ty, gia cc c ng (shareholders) v ngi qun l cng ty (managershay directors). Cc hc gi v lut cng ty hin i quan tm n s phn tch gia s hu v qun tr (the separation of ownership and control), c bit trong cc CTCP c nhiu c ng, nht l cc cng ty nim yt (listed firms), ni m cc c ng ch quan tm n gi tr c phiu trn th trng, cng vi mt quyn rt quan trng l la chn cc nh qun tr mang li gi tr cao nht c th cho c phn ca h. Cng t , cc l thuyt v i din (agency theory) xut hin l gii mi quan h gia cc c ng v cc nh qun tr, ngi ta bn nhiu v bn cht mi quan h gia c ng vi ngi qun l cng ty, vic lm th no hn ch cc hnh vi t li ca ngi qun l v bo v li ch cho nh u t. Nhng l thuyt

v qun tr cng ty (corporate governance) gn lin vi cc nim v phn chia quyn lc, v i din, v mc ch ca qun tr cng ty tt. Ni mt cch khi qut, cu trc qun tr ni b ca cc CTCP trn th gii, c bit l cc cng ty nim yt, thng theo mt trong hai m hnh sau y: (i) m hnh hi ng n hay cn gi l hi ng mt tng (unitary board hay onetier board model), v (ii) m hnh hi ng kp hay cn gi l hi ng hai tng (dual board hay two-tier board model). Ni n cu trc hi ng n hay kp l ni n cu trc ca b my qun l iu hnh ca cng ty, ch khng phi ca ton b cu trc qun tr cng ty. 1. Cu trc hi ng mt tng (one-tier board model) - h thng thng lut (common law) Cu trc qun tr ni b theo m hnh hi ng mt tng (hi ng n) c trong lut cng ty ca hu ht cc nc thuc h thng thng lut (common law) nh M, Anh, Australia, New Zealand, Canada v.v.; cng nh khng t cc nc thuc dng h lut thnh vn (civil law). Cu trc hi ng n, v c bn, c xy dng theo m hnh lut cng ty theo kiu Anglo-American, m lut cng ty Hoa K l in hnh. Nu nh hn mt th k trc, trong h thng thng lut, ngi Anh thng t ho rng chnh h l nhng ngi cung cp ch yu cc hc thuyt v quy tc php l v cng ty kinh doanh; th na th k tr li y, vai tr ny b mt vo tay ngi M. L mt thnh vin ca Lin minh chu u (European Union - EU), ngi Anh v ang vt v trong vic cnh tranh vi ngi c trong vic xy dng m hnh lut cng ty ca khi lin minh cng nh gy nh hng n cc nc thnh vin EU. M hnh qun tr cng ty Hoa K lng l xm lng cc x s ca c dng h common law v civil law, ngay c chu u lc a nh Ty Ban Nha, Hi Lp, B o Nha, , Aixlen v.v..

Lut cng ty Hoa K, c bit l lut v cng ty ca bang Delaware, ni m qu na trong s 500 cng ty ln nht nc M chn ng k kinh doanh, ni ting v cu trc hi ng n v s thn thin vi, hay ni ng hn l tp trung quyn lc cho, ngi qun l cng ty.Trong khi Hoa K c lut chng khon lin bang, th h thng lut cng ty ca h li l ca cc tiu bang. V th, cc bang M u phi tham gia cuc ua c mt lut cng ty hp dn i vi cc nh u t. Trong cuc ua ny, nhng tiu bang dn u phi k n l Delaware, New York, v California. cng l mt trong cc l do khin cho gii lut hc Hoa K v lut cng ty Hoa K pht trin ht sc mnh m. Theo lut cng ty AnhM, cu trc qun tr ni b ca mt CTCP gm c: i hi ng c ng (shareholders meeting) (HC) v hi ng gim c (board of directors) (HG). B phn qun tr - iu hnh ca CTCP ch do mt c quan m nhim l HG - cu trc hi ng n (unitary board model). HC s bu chn cc thnh vin ca HG (thng c t ba n hai chc thnh vin), c gi l cc directors. Mi quyn lc v cc vn ca cng ty c php lut t vo tay ca HG, tr nhng vn m php lut hoc iu l cng ty qui nh phi thuc v HC. Lut cng ty ca cc nc thuc dng h Anglo-American thng c mt qui nh rt quan trng rng: cng vic kinh doanh ca cng ty c qun l bi, hay di s ch o ca hi ng gim c (hay cc gim c). S phn chia quyn lc ny khc vi vic phn chia quyn lc gia cc c quan ca b my qun tr CTCP vn thng thy trong lut cng ty ca cc nc chu u lc a, Trung Quc v Vit Nam. Cng v th, HG ca cc cng ty theo m hnh Anh M c rt nhiu quyn lc, hn rt nhiu so vi nhng ngi ng nghip ca h trong hi ng qun tr cng ty ca cc nc chu u lc a, Trung Quc v Vit Nam. Thm ch, mt s nc, HG c mt quyn c l s lm ngc nhin cc c ng Vit Nam v nhiu nc khc, l vic HG - nhng ngi lm thu - li quyt nh vic chia c tc cho cc c ng nhng ng b ch!

HG b nhim cc thnh vin ca mnh hoc ngi khc m nhim cc cng vic iu hnh hot ng kinh doanh hng ngy ca cng ty. Ngi ng u ca b phn iu hnh l tng gim c (TG) (chief executive officer(CEO) hay managing director(MD)). Php lut cng ty ca cc nc Anh M khng c qui nh v nhim v, quyn hn ca TG (statutory power) nh trong php lut cng ty Vit Nam hay Trung Quc. Quyn lc ca TG s do HG quyt nh trn c s y nhim, v th, khng phi cc TG u c quyn lc nh nhau. Khc vi m hnh TG theo lut Anh - M, trong m hnh qun tr CTCP theo lut Vit Nam v Lut Cng ty 2005 ca Trung Quc th Tng gim c CTCP xut hin nh mt c quan trong b my qun tr, vi cc quyn v ngha v do lut nh m cc c ng hay HQT ch c th trao thm ch khng c ly bt i. Tuy nhin, trn thc t, TG trong m hnh qun tr ca Hoa K c coi l m hnh TG mnh, nht l khi Ch tch HG kim nhim lun chc v TG, hoc HG y quyn mnh cho TG. Nu nh Ch tch HG cc cng ty ln Anh t kim nhim chc TG, th ng nghip Hoa K ca h li hay kim nhim hai chc danh ny. Nhng sau cc v ph sn ca mt vi cng ty ln xy ra u th k 21 M nh Enron, WorldCom, Tyco v.v., vic phn tch hai chc danh ny trong cc CTCP ln M l mt xu th r rt. M hnh qun tr CTCP theo cu trc hi ng n kiu Anh-M khng c mt c quan chuyn trch lm nhim v gim st nhng ngi qun l - iu hnh cng ty nh ban kim sot (BKS) trong lut cng ty Vit Nam v lut cng ty Trung Quc hay nh hi ng gim st trong m hnh hi ng hai tng ca c. Tuy nhin, trong cc cng ty ln, c bit l cc cng ty nim yt, xu hng a s thnh vin ca HG l thnh vin c lp khng iu hnh (independent nonexecutive directors) ang thng th. Xu hng ny cng c khuyn ngh bi cc t chc quc t hng u nh Ngn hng th gii (World Bank) v T chc Hp tc v pht trin kinh t (Organization for Economic Co- operation and Development OECD), cc c quan qun l th trng chng khon nh y ban

Chng khon (Securities and Exchange Commission- SEC) ca Hoa K, ASX (Australian Stock Exchange) ca Australia; cng nh cc y ban c lp ca chnh ph nghin cu v qun tr cng ty (corporate governance) nh cc y ban Cadbury v Hampel ca Anh, Bosch ca c v.v.. Cc thnh vin c lp khng iu hnh ca HG s m nhim chc nng xem xt, nh gi mt cch c lp v cc quyt sch qun tr ca HG v gim st hot ng ca b phn iu hnh. Tuy nhin, s gim st ca mt nhm thnh vin trong HG i vi cc thnh vin khc c cho l thiu tnh khch quan v hiu qu. Bi vy, s gim st ny c th thiu tnh c lp v km tin cy hn so vi hot ng ca mt c quan gim st c lp trong c cu qun tr ca CTCP trong cu trc qun tr hi ng hai tng, cng nh trong lut cng ty ca Vit Nam v Trung quc. 2. Cu trc hi ng hai tng (two-tier board model) h thng dn lut ( civil law ): Cu trc hi ng kp c ngun gc t nc c, x s ca dng h lut German Civil Law. Lch s lut cng ty ca nhn loi khng th ph nhn thc t rng ngi c, cng vi ngi Anh v ngi M ng gp rt ln cho s hnh thnh v pht trin ca cc l thuyt v nguyn tc php l ca cc m hnh cng ty hin i ngy nay. Cu trc hi ng kp vi s tham gia ca ngi lao ng trong cc CTCP (Aktiengesellschaft-AG) tng c cho l tri tim ca nn dn ch cng nghip c. N cng phn nh nhng nim mang tnh l thuyt khc nhau v cng ty gia ngi c, mt trng phi in hnh ca dng h lut chu u lc a, v Anh M ca dng h lut n l. S tham gia ca ngi lao ng vo cu trc qun tr CTCP theo lut c th hin nim v m hnh qun tr cng ty hng v nhng ngi c quyn li lin quan (stakeholder-oriented corporate governance), khc vi m hnh qun tr kiu Anh-M nhm hng ti c ng (shareholder-oriented corporate governance). Nu m hnh qun tr cng ty AnhM tp trung vo bo v nh u

t, ch yu l c ng; th cu trc qun tr ca ngi c v chu u, v c Nht Bn thng hng vo vic bo v c ngi lao ng v ch n. Cc nh lm lut c kh khn kho trong vic s dng c ch mang tnh cu trc dung ha li ch gia c ng v ngi lao ng trong nn dn ch cng nghip, c bit l trong cc giai on kh khn xy dng nc c sau chin tranh. c, ngi lao ng c th c tham gia trc tip vo cng vic qun tr CTCP; v ngi lm thu Nht cng lun c quan tm trong thc tin qun tr vi ch lao ng sut i v c nhiu nh qun tr l nhng ngi lao ng lu nm trong cng ty. Cc ch n c, Nht, v chu u c bo v mnh m hn ngi cho vay M. Khc vi M, ni m cc c ng nh ch (institutional investors) thng kim sot cc CTCP th cc ngn hng Nht, c v chu u c vai tr rt ln trong vic qun tr cc CTCP. S bo v qu mnh m ngi cho vay v ngi lao ng lm cho t bn vn ca nhng nc ny km nng ng hn so vi cc nc theo m hnh th trng t do kiu Anh M. Gii lut hc th gii, c bit l Anh M v c, tn nhiu giy mc bnh lun v nh gi m hnh hi ng kp vi s tham gia ca ngi lao ng ca nc c. Cng rt th v l, chng nhng cc gio s lut Anh M khng thch cu trc qun tr CTCP v c phn nng n v bo th ca ngi c, m ngay c nhiu hc gi, gio s v lut cng ty hng u ca c nh Klaus J. Hopt, Horst Siebert, Harald Baum cng hoi nghi v tnh hiu qu ca cu trc qun tr ny trong mi trng ton cu ha. Nc c c th s gim mt tnh cnh tranh trong vic thu ht u t nc ngoi nu h c cng nhc p t cu trc qun tr CTCP ca mnh cho cc nh u t n t cc nn vn minh cng nghip khc. Mt thc t l, m hnh hi ng kp ca ngi c t c p dng trn th gii; v s cnh tranh ca lut cng ty Anh-M cng khin ngi c gp nhiu kh khn. Ngi c cng chng my thnh cng thuyt phc cc nc EU lng ging, ni m lut dn s v thng mi c n su cm r, p dng cu trc qun tr CTCP vi m hnh hi ng kp v s tham gia ca ngi lao ng. Cho

n hin nay, ch c ba nc chu u la chn m hnh ca ngi c l o, Thy S v H Lan. Cu trc hi ng kp theo lut cng ty c c hai c im quan trng nht: (i) cu trc qun tr- iu hnh c hai hi ng theo th bc (two-tier board model), v (ii) c th c s tham gia nht nh ca i din ngi lao ng vo hi ng pha trn (co- determination). Cu trc qun tr ni b ca CTCP theo lut c gm c: i hi ng c ng, hi ng gim st (Aufsichtsrat) (HGS), v hi ng qun tr (Vorstand) (BQT). Theo lut c, vic qun l-iu hnh CTCP c phn chia cho hai c quan l: HGS v BQT, nh mt thit ch hai tng, m , HGS nm tng trn. V th, gii lut hc trn th gii gi y l cu trc hi ng kp (dual board) hay hi ng hai tng (two-tier board). V nguyn tc, HC s bu chn thnh vin ca HGS. Song, ngi lao ng cng c quyn la chn thnh vin ca HGS theo o lut v s tham gia ca ngi lao ng vo qun tr cng ty nm 1952 v 1976.28 Theo , t l s thnh vin ca HGS do ngi lao ng bu chn v c ng bu chn s ph thuc vo s lao ng ca cng ty. i din do pha ngi lao ng v c ng bu chn trong HGS u c quyn v ngha v nh nhau. i vi cc CTCP s dng trn 500 lao ng, mt phn ba tng s thnh vin ca HGS s do pha ngi lao ng bu chn. Nu cng ty s dng trn 2000 lao ng, th mt na s thnh vin ca HGS phi l i din do ngi lao ng v cng on bu chn. Song, ch tch ca HGS s phi l ngi do c ng la chn, v ngi ny s c l phiu quyt nh khi s phiu thun v phiu chng bng nhau (casting vote). HGS c thm quyn chn, b nhim, cch chc cc thnh vin ca BQT (Vorstand). Khng nhng th, HGS cn tham gia trc tip vo vic a ra cc quyt nh quan trng trong vic qun tr cng ty v gim st cc hot ng ca BQT. BQT thc hin chc nng iu hnh cng vic kinh doanh hng ngy ca cng ty. Cc thnh vin ca BQT cng nhau chu trch nhim v vic iu hnh,

pht trin chin lc kinh doanh ca cng ty trong mi lin h thng xuyn v bo co thng xuyn vi HGS. Nh vy, HGS trong cu trc hi ng hai tng, v d theo lut c, khng ging vi BKS hay HQT trong cc CTCP Vit Nam. Bi l: (i) BKS trong CTCP Vit Nam do HC bu v ch c chc nng c bn nht l gim st cng tc qun l, iu hnh ca b my qun tr; (ii) n khng c thm quyn b nhim, min nhim, cch chc cc thnh vin ca b my qun l, iu hnh; (iii) cng khng c chc nng tham gia quyt nh cc vn quan trng v qun tr cng ty nh HGS theo lut c. Th hai, HQT theo lut Vit Nam l c quan qun l cng ty do HC bu chn, v ch bao gm cc thnh vin do c ng bu chn m thi. Khc vi c, ngi lao ng trong cc CTCP Vit Nam khng c quyn la chn v c i din ca mnh tham gia HQT cng nh BKS. HQT trong cc CTCP Vit Nam c thm quyn b nhim, min nhim TG v nhng chc danh qun l quan trng khc trong cng ty. N cng gim st b my iu hnh, nhng n khng c chc nng gim st rng nh HGS theo lut c v mt phn quyn lc ny thuc v BKS ca cng ty theo lut nh. Th ba, thnh vin ca HGS theo lut c khng th ng thi c mt trong BQT, trong khi thnh vin ca HQT trong CTCP ca Vit Nam th c th nm gi cc chc v iu hnh cng vic kinh doanh hng ngy ca cng ty. 3. Mt vi kt lun Theo lut nh ca Vit Nam, c th l Lut Doanh nghip 2005, th cu trc qun tr ni b ca CTCP Vit Nam, xt mt cch ton din, khng phi l cu trc hi ng mt tng theo m hnh lut cng ty Anh M, cng chng phi cu trc hai tng nh m hnh ca lut c. N c v l cu trc mang tnh pha trn (hybrid model) gia hai m hnh ni trn.

iu th v l, cu trc qun tr ni b ca CTCP theo lut Vit Nam c rt nhiu im tng ng vi Lut Cng ty 2005 ca Trung Quc (sa i Lut Cng ty 1993), ni m cu trc qun tr ni b ca CTCP cng gm c cc c quan: HC, HQT, TG, v BKS. Nh phn tch trn, HQT ca CTCP trong lut cng ty Vit Nam khng ging vi HG (board of directors) trong lut cng ty AnhM, cng khng phi l HGS (Aufsichtsrat) hay BQT (Vorstand) theo m hnh lut cng ty ca c. HQT trong lut cng ty Vit Nam khng c quyn hn rng ln nh HG trong cu trc hi ng n nhiu nc common law. Song, n c thm quyn rng hn so vi BQT ca cu trc hi ng kp theo lut cng ty ca mt s nc chu u. Nu thnh vin BQT theo lut cng ty c l do HGS b nhim, min nhim, th thnh vin HQT ca cc CTCP Vit Nam li do HC trc tip la chn. Chc nng gim st trong cc CTCP, c bit l cc cng ty nim yt, v ang l vn c quan tm trong gii nghin cu v lut cng ty cc nc pht trin v cng nghip ha. C th ni rng, so vi m hnh c quan gim st trong c hai cu trc qun tr ph bin trn th gii nh ni trn, th m hnh BKS c lp t HQT v do HC bu trong cc CTCP Vit Nam l cu trc kh c o v hiu qu, nu BKS lm vic thc s nh c thit k trong lut. S hoi nghi v hiu qu hot ng ca BKS trong cc CTCP Vit Nam khng phi l khng c c s khi m: (i) vn cn tm l xem thng v tr ca n trong cc c ng v ngi qun l cng ty, (ii) phn ln thnh vin BKS l ngi lao ng, di quyn qun l - iu hnh ca chnh nhng ngi m h c bn phn gim st. M hnh BKS khng phi do cc nh lm lut Vit Nam gn y sng to ra, m n chnh l s pht trin t cc qui nh ca Lut Cng ty 1990, v xa hn na l, cc o lut v cng ty ca ch c. Lut Cng ty 1990 c xy dng trn nn tng ca cc qui nh v cng ty trong lut cng ty thi thuc a Php v B lut Thng mi 1972 ca ch Si Gn.

Bn cnh s khc nhau v cu trc qun tr, s phn chia quyn lc gia cc c quan trong CTCP theo lut cng ty Vit Nam cn nhiu vn cn phi bn, c bit l gia HC, HQT v TG ca cng ty. Th hai, khi m th gii ang pht trin theo hng lm hi ha nhng khc bit (harmonization), cc nh lm lut khn ngoan chp nhn linh hot cc m hnh qun tr cng ty thu ht u t nc ngoi. V l , mt s nc cng nghip pht trin, chng hn Php v , ban hnh lut cho php cc cng ty la chn cu trc qun tr trong s cc m hnh c php lut qui nh trn c s cc hnh mu ph bin trn th gii. V d, cc CTCP Php (socit anonyme -SA), c th la chn mt trong ba m hnh qun tr: (i) m hnh hi ng kp theo kiu c, (ii) m hnh hi ng n vi s phn tch hai chc v ch tch v tng gim c, v (iii) m hnh hi ng n vi chc ch tch tng gim c (prsident directeur gnrale)do mt ngi nm gi. V nn chng, c sc hp dn vi cc nh u t nc ngoi n t cc nn vn minh php l v m hnh qun tr cng ty khc nhau, php lut Vit Nam cng nn bit hi ha ha nhng s khc bit qua nhng qui nh mang tnh m v linh hot ca php lut v qun tr cng ty.