為增加企業籌措資金管道、降低籌資成本、使企業資金調度更具彈性、便利企業進行併購或策略聯盟及解決財務困難公司不易透過公開募集或向金融機構借款等管道籌集資金，前財政部證券暨期貨管理委員會（以下簡稱原證期會）特別參考美、日對於私募之法例，著手修正證券交易法，引進私募制度。立法院於民國九十年十一月十二日修正公布之公司法，公司法第二百四十八條第二項增訂私募公司債之規定，民國九十一年一月十六日三讀通過證券交易法部分修正條文，增訂有價證券之私募制度，使公開發行公司除了原本利用公司法私募公司債籌資外，尚可利用私募不同種類之有價證券，達成公司集資之最大效益。 我國目前於公司法與證券交易法皆有私募的規定，兩者其規範範圍如何，是否有衝突之處或是有規範不完備之處，都值得我們深入探討。由於我國證券私募法制是參酌美國法制而來，希望藉由與美國法制與我國法制的比較與參酌我國實務經驗，探討我國的私募法制且提出建議，俾能使我國私募法制往更完整周延之方向邁進，讓企業在籌資時能有所依循，使企業的籌資管道更加靈活、多元化。以下為本研究之架構： 第一章 緒論 第二章 美國私募制度之概述 第三章 我國私募制度之概述 第四章 美國與我國私募制度之比較 第五章 私募制度衍生之相關法律問題 第六章 結論 In order to increasing the fund raising channel of enterprise, lowing down the cost of money raising, making the capital dispatching flexible, providing easily enterprise merge proceeding or strategic alliance, and solving the problem of uneasy public money collection or loaning from banking organization of final difficult company, the authority refer to the law and case of American and Japanese private offerings starting to correct Securities and Exchange Law and bring the regulation into Taiwan. The Congress corrected and announced the revised regulation of section 248(2) of private offerings company bund of the Company Act which made in Nov. 12, 2001, passed through some amendment clauses of Securities and Exchange Law and polished the securities of private offerings. Which offer public companies can raise fund not only by original Company Act’s private offerings company bund but also different kinds securities to reach company’s best benefit of money collection. The Company Act and Securities and Exchange Law both have the regulation of private offerings. The standard scope, conflicts and uncompleted parts are all worth us to probe. Owing to Taiwan’s Securities and Exchange Law deliberated from American, we hope to absorb their regulation essence and refer to our practice experience then confer Taiwan’s private offerings regulation and bring up suggestions to help our regulation toward the complete and perfect direction and make the enterprise could have clauses to follow when fund raising, finally acquire the elastic and various path for that.
