An Analysis of the Preemptive Right to Buy New Share with a Legal Jurisprudential Approach

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Shadidi s.m.; Zeree h.

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Journal Paper

Paper Information

Journal: JOURNAL OF JURISPRUDENCE AND ISLAMIC LAW Year:2019 | Volume:10 | Issue:18 Page(s): 105-124

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Title

An Analysis of the Preemptive Right to Buy New Share with a Legal Jurisprudential Approach

Author(s)

Shadidi s.m. | Zeree h. | Issue Writer Certificate

Keywords

Preemptive rightsQ1

Legal natureQ2

Shareholders’preemptive rightsQ1

Capital increasingQ1

New shareQ1

SubscribingQ1

Issuing new shareQ1

Abstract

With ownership of shares in stock companies, shareholders enjoy various rights; one of these rights is the preemptive right to buy New shares due to Capital increasing through the issuance of New share. The nature of this right is not consistent with any of the views about the Legal nature of shareholders rights. In fact, according to Article 167 and Article 166 of trade act, preemptive right is interruptible, inherently temporary, suspended to capital raising through the issuance of New share, and the Legal nature of this right cannot be based on the adoptive concepts of choice in action and choice in possession, since choice in possession is an absolute right and the choice in action is not interruptible on behalf of debtor. The special right theory is also proposed because of the ineffectiveness of the division of financial rights to choice in action and choice in possession. Therefore, considering that the recognition of the attributes and rules of any legal concept is intrinsically relevant to its nature, with a new approach and through a descriptive-analytical study of legal jurisprudential concepts of preemptive right, it has been concluded that the right has the characteristics of a financial right including being waivable, transferable and valuable. This has been stipulated in order to protect the shareholders’ rights and trade according to the prioritization certificate.

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APA: Copy

Shadidi, s.m., & Zeree, h.. (2019). An Analysis of the Preemptive Right to Buy New Share with a Legal Jurisprudential Approach. JOURNAL OF JURISPRUDENCE AND ISLAMIC LAW, 10(18 ), 105-124. SID. https://sid.ir/paper/207123/en

Vancouver: Copy

Shadidi s.m., Zeree h.. An Analysis of the Preemptive Right to Buy New Share with a Legal Jurisprudential Approach. JOURNAL OF JURISPRUDENCE AND ISLAMIC LAW[Internet]. 2019;10(18 ):105-124. Available from: https://sid.ir/paper/207123/en

IEEE: Copy

s.m. Shadidi, and h. Zeree, “An Analysis of the Preemptive Right to Buy New Share with a Legal Jurisprudential Approach,” JOURNAL OF JURISPRUDENCE AND ISLAMIC LAW, vol. 10, no. 18 , pp. 105–124, 2019, [Online]. Available: https://sid.ir/paper/207123/en

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