关联交易作为一种利益冲突交易，实践中容易成为关联人攫取公司利润的通道。现代公司法以诸种手段规制非公允关联交易。我国《公司法》第21条虽然原则性规定了内部人不得利用关联交易损害公司利益，司法实务也按照这一原则认定是否构成关联交易，但终究“损害公司利益”的表述没有提供明确的关联交易一般行为标准和审查标准。另外还存在司法裁判中混淆关联交易董事等内部人赔偿责任和关联交易合同效力的问题。本文从解析关联交易内外关系出发，补足关联交易三大漏洞。（1）应填补关联交易一般行为标准：应当按照公司章程的规定经董事会非利害关系董事或股东（大）会非利害关系股东过半数同意，法律另有规定的除外。（2）从理论和实证研究中求证移植MFW框架审查标准的可行性，改进MFW框架举证规则以适应我国的市场和法律环境，总结出关联交易审查的梯度三段式结构。（3）区分公司内外法律关系，严守《公司法》作为管理法的基本定位，关联交易应在导入公司决议效力路径之后，由《合同法》认定关联交易合同的外部效力。
As a kind of interest-conflicted transaction, a related transaction, in practice, trends to be the tunneling through which the controller grabs profits of corporate. Modern Corporate Law has regulated unfair related transactions by various means. Although article 21 of the Corporation Law of China stipulates in principle that insiders are not allowed to harm the interests of the company by using related transactions and the judicial practice also determines whether it constitutes related transactions according to this principle, it is far from providing clear standards for the general conduct and examination of related transactions that the expression of “harming the interests of the company” can make. In addition, there is a problem of confusing the compensation liability of directors and the validity of the related transactions contract in the judicial judgments.This article starts from analysis of the internal and external relations of related transactions to make up for three major loopholes in the rules of our corporate law. (1) Part I fills the general standard of conduct when conducts a related transaction：Unless otherwise provided by law, the consent of more than half of non-interested shareholders or independent directors should be obtained in accordance with the provisions of the Articles of Corporate. (2) Based on theoretical and empirical studies, Part II proves the feasibility of transferring the MFW framework, improves the burden of proof in MFW framework and summarizes the three-stage structure to review related transactions for the unique market and legal environment in China. (3) Part III distinguishes the internal and external legal relations of corporation. Related transactions should be firstly reviewed under the rule of corporation’s resolution, and then be determined the external the validity of the related transactions contract by the Contract Law.
