OECD公司治理準(zhǔn)則partII(中英文對照

1、OECD公司治理準(zhǔn)則I. 確保有效的公司治理框架基礎(chǔ) Ensure the basis for Effective Corporate Governance公司治理框架應(yīng)當(dāng)提升透明、有效的市場，遵循法治原則，明確規(guī)定不同的監(jiān)管、管理及執(zhí)行權(quán)力之間的責(zé)任劃分。The corporate governance framework should promote transparent and efficient markets, be consistent with the rule of law and clearly articulate the division of responsibili

2、ties among different supervisory, regulatory and enforcement authoritiesA、 公司治理結(jié)構(gòu)的發(fā)展應(yīng)當(dāng)著眼于其對經(jīng)濟(jì)的全面發(fā)展、市場的統(tǒng)一、為市場參與者所創(chuàng)造的動(dòng)力和推動(dòng)透明有效的市場的影響上。The corporate governance framework should be developed with a view to its impact on overall economic performance, market integrity and the incentives it creates for mar

3、ket participants and the promotion of transparent and efficient markets.B、 在一法域內(nèi)，影響公司治理實(shí)踐的法律和規(guī)章要求應(yīng)當(dāng)符合法治原則，且是透明的、可執(zhí)行的。 The legal and regulatory requirements that affect corporate governance practices in a jurisdiction should be consistent with the rule of law, transparent and enforceableC、 在一法域內(nèi)，不同權(quán)力

4、之間的職責(zé)劃分應(yīng)當(dāng)予以明確規(guī)定，且應(yīng)確保服務(wù)于公共利益。The division of responsibilities among different authorities in a jurisdiction should be clearly articulated and ensure that the public interest is servedD、 監(jiān)管、管理及執(zhí)行機(jī)關(guān)應(yīng)當(dāng)具有威信、正直性及智識，以專業(yè)的、客觀的方式履行職責(zé)，而且他們的管控應(yīng)當(dāng)是及時(shí)的、透明的、且是經(jīng)充分解釋的。II. 股東的權(quán)利及主要的所有者權(quán)能 The rights of shareholders and

5、 key ownership functions公司治理框架應(yīng)當(dāng)能夠保護(hù)并便利于股東權(quán)利的行使The corporate governance framework should protect and facilitate the exercise of shareholders rightA、 股東的基本權(quán)利應(yīng)當(dāng)包括有權(quán)：（1）獲得股權(quán)登記方法；（2）轉(zhuǎn)讓或者過戶股份；（3）及時(shí)定期地獲得公司相關(guān)的、實(shí)質(zhì)的信息；（4）參加股東大會(huì)并投票；（5）選舉或者撤換董事會(huì)成員；及（6）分享公司利潤。 Basic shareholder rights should include the right t

6、o : （1）secure methods of ownership registration; （2）convey or transfer shares; （3）obtain relevant and material information on the corporation on a timely and regular basis; （4）participate and vote in general shareholder meetings; （5）elect and remove members of the board; （6）share in the profits of t

7、he corporationB、 股東有權(quán)參與且應(yīng)被充分通知關(guān)于公司變更的決定，諸如：（1）對設(shè)立協(xié)議、公司章程或類似的公司管控文件的修改；（2）追加股本的授權(quán)；（3）實(shí)質(zhì)上導(dǎo)致了出售公司的特殊交易，包括全部的或者是基本上全部的資產(chǎn)轉(zhuǎn)讓Shareholders should have the right to participate in, and to be sufficiently informed on, decisions concerning fundamental corporate changes such as: （1）amendments to the statutes, o

8、r articles of incorporation or similar governing documents of the company; （2）the authorization of additional shares; and （3）extraordinary transactions, including the transfer of all or substantially all assets, that in effect result in the sale of the company.C、 股東應(yīng)有機(jī)會(huì)有效地參與股東大會(huì)，并進(jìn)行投票，且應(yīng)獲得包括投票程序在內(nèi)的股

9、東大會(huì)規(guī)則的通知： Shareholders should have the opportunity to participate effectively and vote in general shareholder meetings and should be informed of the rules, including voting procedures that govern general shareholder meetings:1. 股東應(yīng)當(dāng)知悉關(guān)于股東大會(huì)的日期、地點(diǎn)和議程的充分而適時(shí)的通知，及有關(guān)股東大會(huì)決議事項(xiàng)的完整而及時(shí)的信息。 Shareholders should

10、 be furnished with sufficient and timely information concerning the date, location and agenda of general meetings, as well as full and timely information regarding the issues to be decided at the meeting2. 股東應(yīng)有機(jī)會(huì)在合理范圍內(nèi)：向董事會(huì)問詢包括年度外部審計(jì)在內(nèi)的問題、確定股東大會(huì)的議題，提議決議事項(xiàng)。 Shareholders should have the opportunity to

11、 ask questions to the board including questions relating to the annual external audit, to place items on the agenda of general meetings, and to propose resolutions, subject to reasonable limitations3. 應(yīng)當(dāng)促進(jìn)股東有效地參與重要的公司治理決策，比如任命和選舉董事會(huì)成員。股東應(yīng)能使他們的意見反映在董事會(huì)成員及高管人員的薪酬政策上。對董事會(huì)成員及雇員的股權(quán)補(bǔ)償計(jì)劃應(yīng)當(dāng)經(jīng)過股東批準(zhǔn)。 Effective

12、 shareholder participation in key corporate governance decisions, such as the nomination and election of board members, should be facilitated. Shareholders should be able to make their views known on the remuneration policy for board members and key executives. The equity component of compensation s

13、chemes for board members and employees should be subject to shareholder approval4. 股東可以親自投票，或者缺席投票。不管是親自投票或者是缺席投票，都應(yīng)給與同等效果Shareholders should be able to vote in person or in absentia, and equal effect should be given to votes whether cast in person or in absentiaD、 應(yīng)當(dāng)披露使得特定股東擁有與其股權(quán)不成比例的控制力的資本結(jié)構(gòu)及其安排。

14、Capital structure and arrangements that enable certain shareholders to obtain a degree of control disproportionate to their equity ownership should be disclosedE、 應(yīng)當(dāng)允許公司控制權(quán)市場能夠以有效的、透明的方式運(yùn)行Markets for corporate control should be allowed to function in an efficient and transparent manner.1. 在資本市場中，規(guī)范控

15、制權(quán)收購及諸如公司合并、出售公司資產(chǎn)實(shí)質(zhì)部分的特殊交易的規(guī)則和程序應(yīng)當(dāng)予以明確規(guī)定和披露，使得投資者能夠理解他們的權(quán)利和應(yīng)對方法。應(yīng)當(dāng)在價(jià)格透明條件公平的情況下進(jìn)行交易，以保護(hù)所有股東依其類別所應(yīng)享有的權(quán)利The rule and procedures governing the acquisition of corporate control in the capital markets, and extraordinary transactions such as mergers, and sales of substantial portions of corporate assets,

16、 should be clearly articulated and disclosed so that investor understand their rights and recourse. Transactions should occur at transparent prices and under fair conditions that protect the rights of all shareholders according to their class2. 反收購機(jī)制不能用來掩蓋經(jīng)理層和董事會(huì)的責(zé)任Anti-take-over devices should not

17、be used to shield management and the board from accountabilityF、 應(yīng)當(dāng)推動(dòng)包括機(jī)構(gòu)投資者在內(nèi)的所有股東行使其所有者權(quán)利The exercise of ownership rights by all shareholders, including institutional investors, should be facilitated1. 作為受托人的機(jī)構(gòu)投資者應(yīng)當(dāng)披露關(guān)于他們的投資的全部公司治理及投票策略，包括決定行使投票權(quán)的適當(dāng)程序Institutional investors acting in a fiduciary c

18、apacity should disclose their overall corporate governance and voting policies with respect to their investments, including the procedures that they have in place for deciding on the use of their voting rights2. 作為受托人的機(jī)構(gòu)投資者應(yīng)當(dāng)披露他們是如何處理實(shí)質(zhì)性的利益沖突，該利益沖突可能會(huì)影響到涉及他們的投資的所有者權(quán)利的行使Institutional investors acting

19、 in a fiduciary capacity should disclose how they manage material conflict of interest that may affect the exercise of key ownership rights regarding their investments.G、 應(yīng)當(dāng)允許包括機(jī)構(gòu)投資者在內(nèi)的股東們就根據(jù)本原則所定義的基本股東權(quán)利進(jìn)行相互征詢，遵循例外規(guī)則以防止濫權(quán)Shareholders, including institutional shareholders, should be allowed to consu

20、lt with each other on issues concerning their basic shareholder right as defined in the principles, subject to exceptions to prevent abuseIII. 股東的平等待遇The equitable treatment of shareholders公司治理框架應(yīng)當(dāng)保證所有股東的平等待遇，包括小股東和外國股東。對于侵害他們權(quán)利的行為，所有股東應(yīng)有機(jī)會(huì)獲得救濟(jì)The corporate governance framework should ensure the equ

21、itable treatment of all shareholders, including minority and foreign shareholders. All shareholders should have the opportunity to obtain effective redress for violation of their rights.A、 對于同一類別的股東應(yīng)當(dāng)予以平等對待All shareholders of the same series of a class should be treated equally1. 同一類別的所有股份享有同樣的權(quán)利。在購

22、買股份之前，所有的投資者應(yīng)能獲得所有類別股份上的權(quán)利的信息。投票權(quán)的任何變化應(yīng)當(dāng)由受到不利影響的類別股東的批準(zhǔn)Within any series of a class, all shares should carry the same rights. All investors should be able to obtain information about the rights attached to all series and classes of shares before they purchase. Any changes in voting right should be s

23、ubject to approval by those classes of shares which are negatively affected.2. 小股東應(yīng)當(dāng)受到保護(hù)，以免受由控股股東或是為了控股股東利益而直接或間接采取的濫權(quán)行為，且應(yīng)有有效的救濟(jì)途徑Minority shareholders should be protected from abusive action by, or in the interest of , controlling shareholders acting either directly or indirectly, and should have

24、effective means of redress3. 由存管人或者名義所有人進(jìn)行的投票應(yīng)當(dāng)獲得股份的實(shí)質(zhì)所有人的同意Votes should be cast by custodians or nominees in a manner agreed upon with the beneficial owner of the shares4. 應(yīng)當(dāng)消除對跨境投票的限制Impediments to cross border voting should be eliminated 5. 股東大會(huì)的手續(xù)和程序應(yīng)平等地對待所有的股東。公司的相關(guān)程序不能使得投票變得不適當(dāng)?shù)乩щy或者成本高昂Process

25、es and procedures for general shareholder meetings should allow for equitable treatment of all shareholders. Company procedures should not make it unduly difficult or expensive to cast votesB、 應(yīng)當(dāng)禁止內(nèi)幕交易以及濫用自我交易Insider trading and abusive self-dealing should be prohibitedC、 董事會(huì)成員及高管人員應(yīng)被要求向董事會(huì)披露，在直接影響到

26、公司的任何交易或者事件中，其是否具有實(shí)質(zhì)性利益，不管是直接地、間接地或者是代表第三方Members of the board and key executives should be required to disclose to the board whether they , directly, indirectly or on behalf of 3ed parties, have a material interest in any transaction or matter directily affecting the corporationIV. 股東在公司治理中的角色The r

27、ole of stakeholders in corporate governance公司治理框架應(yīng)當(dāng)承認(rèn)由法律或者共同協(xié)議中所確立的股東權(quán)利。在創(chuàng)造財(cái)富、就業(yè)及財(cái)務(wù)狀態(tài)良好的企業(yè)的可持續(xù)發(fā)展上，鼓勵(lì)公司和股東進(jìn)行積極的合作The corporate governance framework should recognize the right of stakeholders established by law or through mutual agreements and encourage active co-operation between corporations and sta

28、keholders in creating wealth, jobs and the sustainability of financially sound enterprisesA、 應(yīng)當(dāng)尊重由法律或者通過共同協(xié)議所確立的股東權(quán)利The right of stakeholders that are established by law or through mutual agreements are to be respectedB、 只要股東的利益受到法律保護(hù)，股東就應(yīng)有機(jī)會(huì)獲得對侵害其權(quán)利的有效救濟(jì)Where stakeholder interests are protected by

29、law, stakeholders should have the opportunity to obtain effective redress for violation of their rightsC、 應(yīng)當(dāng)允許發(fā)展提高員工參與程度的機(jī)制Performance-enhancing mechanisms for employee participation should be permitted to developD、 只要股東參與公司治理進(jìn)程，他們就應(yīng)能及時(shí)地、定期地獲得相關(guān)的、充分的和可靠的信息Where stakeholders participate in the corpor

30、ate governance process they should have access to relevant, sufficient and reliable information on a timely and regular basisE、 股東，包括個(gè)體雇員及他們的代表者，應(yīng)當(dāng)能夠就董事會(huì)的違法的或者是不道德的行為進(jìn)行自由地溝通，而且他們的權(quán)利不能因此而受有減損Stakeholders, including individual employees and their representative bodies, should be able to freely communi

31、cate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing thisF、 公司治理框架應(yīng)以有效的破產(chǎn)機(jī)制和有效的債權(quán)執(zhí)行機(jī)制為補(bǔ)充The corporate governance framework should be complemented by an effective efficient insolvency framework and by effective enforcement of credi

32、tor rightsV. 信息披露及透明度Disclosure and Transparency公司治理框架應(yīng)當(dāng)確保及時(shí)準(zhǔn)確的信息披露是在所有的有關(guān)公司的實(shí)質(zhì)性問題的基礎(chǔ)上作出的，這些問題包括公司的財(cái)務(wù)狀況、經(jīng)營狀況、股權(quán)結(jié)構(gòu)及公司治理The corporate governance framework should be ensure that timely and accurate disclosure is made on all material matters regarding the corporation, including the financial situation,

33、performance, ownership and governance of the companyA、 信息披露應(yīng)當(dāng)包括但不限于如下事項(xiàng)的實(shí)質(zhì)性信息:1. 公司的財(cái)務(wù)及經(jīng)營效果The financial and operating results of the company2. 公司目標(biāo)Company objectives3. 大股東及其投票權(quán)Major share ownership and voting right4. 董事會(huì)及高管人員的薪酬政策及董事會(huì)成員的相關(guān)信息，包括選任資格、選舉程序、兼任其他公司董事及是否被董事會(huì)認(rèn)為是獨(dú)立的Remuneration policy for

34、members of the board and key executives, and information about board members, including their qualifications, the selection process, other company directorships and whether they are regarded as independent by the board5. 關(guān)聯(lián)方交易Related party transactions6. 可預(yù)見的風(fēng)險(xiǎn)因素Foreseeable risk factors7. 涉及雇員及其他利益相

35、關(guān)者的事項(xiàng)Issues regarding employees and other stakeholders8. 公司治理結(jié)構(gòu)及政策，尤其是關(guān)于公司治理標(biāo)準(zhǔn)或政策內(nèi)容及其實(shí)施程序Governance structures and policies, in particular, the content of any corporate governance code or policy and the process by which it is implementedB、 應(yīng)當(dāng)依照會(huì)計(jì)的、財(cái)務(wù)的及非財(cái)務(wù)的高質(zhì)量的披露標(biāo)準(zhǔn)來準(zhǔn)備并披露信息Information should be prepar

36、ed and disclosed in accordance with high quality standards of accounting and financial and non-financial disclosureC、 年度審計(jì)應(yīng)當(dāng)由獨(dú)立的、合格、符合條件的審計(jì)人員來進(jìn)行，以向董事會(huì)及股東提供一種外部的、客觀的確信，確信公司財(cái)務(wù)報(bào)告準(zhǔn)確地反映了公司在所有重要領(lǐng)域的財(cái)務(wù)狀況和經(jīng)營狀況An annual audit should be conducted by an independent, competent and qualified, auditor in order to

37、provide an external and objective assurance to the board and shareholders that the financial statement fairly represents the financial position and performance of the companyD、 外部審計(jì)人員應(yīng)當(dāng)向股東負(fù)責(zé)，在審計(jì)時(shí)應(yīng)對公司負(fù)有審慎的、專業(yè)的注意義務(wù)External auditors should be accountable to the shareholders and owe a duty to the compan

38、y to exercise due professional care in the conduct of the auditE、 信息發(fā)布渠道應(yīng)能使得相關(guān)的信息需求者能夠平等地、及時(shí)地、低成本地獲得信息Channels for disseminating information should provide for equal, timely and cost-efficient access to relevant information by users.F、 公司治理框架應(yīng)當(dāng)輔之以一種有效的方式，來處理并推動(dòng)分析師、經(jīng)紀(jì)商、評級機(jī)構(gòu)及其他機(jī)構(gòu)提供分析或者建議，所提供的分析或建議與投資者

39、的決策相關(guān)，不存在著可能會(huì)減損他們分析或者建議的真實(shí)性的實(shí)質(zhì)性利益沖突The corporate governance framework should be complemented by an effective approach that addresses and promotes the provision of analysis or advice by analysts, broker, rating agencies and others, that is relevant to decisions by investors, free from material confli

40、cts of interest that might compromise the integrity of their analysis or advice.VI. 董事責(zé)任The responsibilities of the board公司治理框架應(yīng)當(dāng)確保公司的戰(zhàn)略導(dǎo)向、董事會(huì)對經(jīng)理層的有效監(jiān)督及董事對公司和股東所負(fù)有的責(zé)任The corporate governance framework should ensure the strategic guidance of the company, the effective monitoring of management by the

41、board, and the boards accountability to the company and the shareholdersA、 董事會(huì)成員應(yīng)當(dāng)具備相當(dāng)?shù)闹亲R，善意的、審慎的、注意的、以公司及股東的最大利益行動(dòng)Board members should act on a fully informed basis, in good faith, with due diligence and care and in the best interest of the company and the shareholdersB、 當(dāng)董事會(huì)的決定可能會(huì)對不同的股東群體產(chǎn)生不同的影響，董

42、事會(huì)應(yīng)當(dāng)公平地對待所有的股東Where board decisions may affect different shareholder groups differently the board should treat all shareholders fairlyC、 董事會(huì)應(yīng)當(dāng)適用高尚的倫理標(biāo)準(zhǔn)，應(yīng)當(dāng)重視股東的利益The board should apply high ethical standard. It should take into account the interests of stakeholdersD、 董事會(huì)應(yīng)當(dāng)承擔(dān)一些重要職責(zé)，包括:The board should

43、 fulfill certain key functions including:1. 評議并引導(dǎo)公司戰(zhàn)略，重大行動(dòng)計(jì)劃，風(fēng)險(xiǎn)政策，年度預(yù)算及商業(yè)計(jì)劃；確定經(jīng)營目標(biāo)，監(jiān)督執(zhí)行及公司表現(xiàn)；監(jiān)督資本支出，收購及資產(chǎn)剝離Reviewing and guiding corporate strategy, major plans of action, risk policy annual budgets and business plans; setting performance objectives; monitoring implementation and corporate performan

44、ce; and overseeing major capital expenditures, acquisition and divestitures.2. 監(jiān)督公司治理行動(dòng)的有效性，在需要時(shí)作出調(diào)整Monitoring the effectiveness of the companys governance practices and making changes as needed3. 選任、付酬、監(jiān)督及在必要時(shí)更換高管人員，監(jiān)督繼任方案Selecting, compensation, monitoring and when necessary, replacing key executi

45、ves and overseeing succession planning4. 將高管人員及董事的薪酬與公司及其股東的更為長遠(yuǎn)的利益結(jié)合起來Aligning key executive and board remuneration with the longer term interests of the company and its shareholder5. 確保一個(gè)正式的、透明的董事任命及選舉程序Ensuring a formal and transparent board nomination and election process6. 監(jiān)視并處理潛在的經(jīng)理、董事及股東之間的利益

46、沖突，包括濫用公司資產(chǎn)及關(guān)聯(lián)方交易中的濫權(quán)Monitoring and managing potential conflicts of interest of management, board members and shareholders, including misuse of corporate assets and abuse in related party transactions7. 確保公司會(huì)計(jì)和包括獨(dú)立審計(jì)在內(nèi)的財(cái)務(wù)報(bào)告系統(tǒng)的完整性，確保適當(dāng)?shù)目刂葡到y(tǒng)能夠適于風(fēng)險(xiǎn)管理、財(cái)務(wù)及經(jīng)營控制，符合法律及相關(guān)標(biāo)準(zhǔn)Ensuring the integrity of the corporation