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2013 4 2013 7 ( ) ( ) ( )

학위논문원문제공서비스에대한동의서 본인의학위논문에대하여서울대학교가아래와같이학위논문저작물을제공하는것에동의합니다 동의사항 본인의논문을보존이나인터넷등을통한온라인서비스목적으로복제할경우저작물의내용을변경하지않는범위내에서의복제를허용합니다 본인의논문을디지털화하여인터넷등정보통신망을통한논문의일부또는전부의복제 배포및전송시무료로제공하는것에동의합니다 개인 저작자 의의무본논문의저작권을타인에게양도하거나또는출판을허락하는등동의내용을변경하고자할때는소속대학 원 에공개의유보또는해지를즉시통보하겠습니다 서울대학교의의무 서울대학교는본논문을외부에제공할경우저작권보호장치 를사용하여야합니다 서울대학교는본논문에대한공개의유보나해지신청시즉시처리해야합니다 논문제목 전자등록주식의법률관계에관한연구 학위구분 석사 박사 학 과 법학과 학 번 연락처 저작자 김대권 인 서울대학교총장귀하 제출일 년 월일

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. 181),,. 182),, (, corpus), 183).,.. 19.. 184) 181) [ 36], 16. 182) Nizard, Frédéric, La notion de titre négociable, th. Paris II, 2000, Economica, pp.216-330( [ 36], 22 83 ). 183) Marly, Pierre-Grégoire, Fongibilité et volonté individuelle, Étude sur la qualification juridique desbiens, th. Paris I, 2002, L.G.D.J., pp.213-214( [ 36], 22 84 ). 184) Carbonnier, Jean, Droit civil, vol. II, Les biens, Les obligations, P.U.F. (1er éd), 2004, p.1904( [ 36], 17 51 ).

.. 185),,. paperless.., (, droits mobiliers incorporels). 186),, (matérialité). 187). 188) 185) Martin, De l inscription en compte d actifs scripturaux, 1998, pp.48-49; Martin, De la nature corporelle des valuers mobilieres (et autres droits scripturaux), 1996, pp.17-18( [ 36], 17 52 ). 186) [ 36], 17. 187) Lassalas, Christine, L inscription en compte des valeurs: la notion de propriété scripturale, th.clermont-ferrand I, 1996, Presses Universitaires de la Faculté de Droit de Clermont-Ferrand:L.G.D.J., pp.84-85( [ 36], 18 58 ).

( ). 189) 2 190). ( ).. 191) 192). 188) Lassalas, Ibid, p.181( [ 36], 19 68 ). 189) [ 36], 21. 190),. ( 192 1 )., ( 8 ),, 2010., 533. 191) Pélissier, Anne, Possession et meubles incorporels, th. Monpellier, 2000, Dalloz, pp.18-19 et p.32.( [ 36], 21 76 ). 192), ( [ 36], 23 ).

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, 1994 (UCC) 8. 245) security entitlement 246),. 247), ( ). 248)249) 245) [ 36], 48-49. UCC 8, {UCC 8-503 (a)(b)}.,, UCC 8-504, subsection (e) {UCC 8-503 (d)}. 246) UCC 8-102(a)(17) UCC 8 5 (the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5.), (Official Comments) (the securities intermediary) (personal rights) (package). (the clearing corporation) {Uniform Commercial Code : Official Text and Comments, Thomson/West(2005), p830}., UCC (security entitlement), 5 1,, 2004.. 247) [ 240], 3. 248) [ 36], 49. 249) [ 36], 4. DRS(Direct Registration System), ( [ 19], 187-188 ).

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,,. ( 143 ),. 475),. 476) (UNIDROIT : International Institute for the Unification of Private Law ; Institut International Pour L Unification du Droit Prive) 2002, 477) 2009 10 (UNIDROIT Convention on Substantive Rules regarding Intermediated Securities, ). 478) 475) UFJ [ 82], 32. 476) [ 36], 46. 477), : UNIDROIT, 27 3,, 2008., 138. UNIDROIT 1926 1940. 2008 5 61 1981. UNIDROIT 2002 9 ( ) ( [ 205], 591 110). 478) 50 15, (Final

UNIDROIT, 479),. 480)481) 1,. 482),,,,,, 2.., Convention Act) 37. (http://www.unidroit.org/english/conventions/2009intermediated securities/overview.htm) 479) [ 419], 369. 480) 2009, http://www.unidroit.org/english/conventions/2009intermediatedsecurities/finalact.pdf. Hideki Kanda, Charles Mooney, Luc Thevenoz, Stephane Beraud, and Thomas Keijser, "Official Commentary on the UNIDROIT Convention on Substantive Rules for Intermediated Securities", OXFORD UNIVERSITY PRESS, 2012.. 481) 2008, http://www.unidroit.org/english/conventions/2009intermediatedsecurities/conference/conferencedocu ments2008/conf11-003-e.pdf., UNIDROIT, Explanatory Report. http://www.unidroit.org/english/conventions/2009intermediatedsecurities/conference/conferenced ocuments2008/conf11-004-e.pdf. 482) 1 (a) "securities " means any shares, bonds or other financial instruments or financial assets(other than cash) which are capable of being credited to a securities account and of being acquired and disposed of in accordance with the provisions of this Convention

,,. 483),., (Acquisition by an innocent person) 484), 18 1 (acquirer) (the credit),. 18 2 (an earlier defective entry),. ( 17 d ).. 485) 356 2 3 483) [ 123], 43. 484) 2008 Acquisition by an innocent person of intermediated securities 14, 2009 18. 485) 18 1, 18 2 2. Changmin Chun, "Cross-Border Transactions of Intermediated Securities : A Comparative Analysis in Substantive Law and Private International Law", Springer, 2012, 82-83.

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( 145 1 ). 2009 UNIDROIT 18 2 (earlier defective entry) 505)., 3,.,,.,. 506),. 507).. 508) 505) 17 (d) "defective entry means a credit of securities or designating entry that is invalid or liable to be reversed, including a conditional credit or designating entry that becomes invalid or liable to be reversed by reason of the operation or non-fulfilment of the condition 506) [ 468], 62. 507),,. 508),,

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<Abstract> A Study on the Juridical Relation of Electronic Registered Shares Kim Dae-kwon Department of Law The Graduate School Seoul National University "Electronic Registered Share", which can be transferred to others without securities, was newly introduced in the Korean Commercial Code in 2011. This change in the law will lead to new problems in the existing legal theory premised on certificated shares. This thesis would mainly look at the variation of legal theory about certificated shares. In particular, the thesis focuses on electronic registration book-entry, means of proving a shareholder's right, a method of transfer, and innocent acquisition. First, it suggests that we adpot a model of electronic registered systerm. Especially, only one special act should be legalized, and indirect registered systerm should be adopted. The range of applicable corporation don't need to be limited, but need to be compulsory. About legal characteristics, it is proper that electronic registered share is not securities, unlike Japan's conventional opinion. And it also needs to devise a measure about the relationship of share and it's owner. In the past it was considered to deposit of all stocks and

co-ownership, but in the electronic registered system a theory of direct-ownership is appropriate. Second, means of proving a shareholder's right will change, so we need to adopt "Notification to Some Shareholders" and "Notification to All Shareholders" in Japan or new method of our own, likewise "Real Shareholder Evidence". In Japan, already diverse legal problems, i.e. "Media Exchange Company" case, are reported. Also, it is an issue whether Shareholders' List is still in effect or not, despite of Electronic Registration Book, and whether Register of Real Shareholder System should be amended. Third, Electronic Registration Book-Entry is a requirement in transfer of ownership and establishment of a pledge right, so it cannot be transferred or established by other ways. In Innocent Acquisition, a change also occurs. In particular exceeded number of book-entry should be protected by Korean Commercial Code Article 356-2. To achieve this, it needs to be institutionalized that the liable agency acquire exceeded number of share and retire the share. keywords : Electronic Registered Share, Electronic Registration System of Uncertificated Stock, Electronic Registration Book, a Notification to Some Shareholders, Notification to All Shareholders, Innocent Acquisition Student Number : 2007-23196