What is the system of identifying related party transactions in the company law?

Legal analysis: The current Company Law stipulates that related party transactions are as follows: (1) Improper related party transactions are prohibited. Article 2 1 of the new Company Law stipulates: "The controlling shareholder, actual controller, directors, supervisors and senior managers of the company shall not use their relationships to harm the interests of the company. Anyone who violates the provisions of the preceding paragraph and causes losses to the company shall be liable for compensation. " (2) Avoidance of voting rights. Article 125 of the new Company Law stipulates: "If a director of a listed company is related to the enterprise involved in the resolution of the board meeting, he shall not exercise the voting right on the resolution or on behalf of other directors. The board meeting can only be held when more than half of the unrelated directors are present, and the resolutions made at the board meeting must be passed by more than half of the unrelated directors. If there are less than three unrelated directors present at the board of directors, the matter shall be submitted to the shareholders' meeting of the listed company for deliberation. "(3) restrictions on self-trading. Article 14 1 stipulates the restrictions on self-dealing of directors and senior managers.

Legal basis: People's Republic of China (PRC) Company Law.

Article 21 The controlling shareholders, actual controllers, directors, supervisors and senior managers of a company shall not use their related relationships to harm the interests of the company. Anyone who violates the provisions of the preceding paragraph and causes losses to the company shall be liable for compensation.

Article 125 The capital of a joint stock limited company is divided into shares, each with the same amount. The shares of the company take the form of shares. A stock is a certificate issued by a company to prove the shares held by shareholders.

Article 141 The shares of the Company held by promoters shall not be transferred within one year from the date of establishment of the Company. Shares issued before the public offering of shares by the company shall not be transferred within one year from the date of listing and trading of the company's shares on the stock exchange. The directors, supervisors and senior managers of the company shall report to the company the shares they hold and their changes, and the shares transferred each year during their term of office shall not exceed 25% of the total shares they hold; The shares held by the company shall not be transferred within one year from the date of listing and trading of the company's shares. The above-mentioned personnel shall not transfer their shares in the company within six months after leaving the company. The articles of association may make other restrictive provisions on the transfer of shares held by directors, supervisors and senior managers of the company.