OECD公司治理準則
2004年修正
I. 確立有效果的公司治理架構基礎
I. Ensuring the Basis for an Effective Corporate
Governance Framework
公司治理架構應促進市場透明度和效率，符合法治精神，且清楚說明各檢查、監理和裁罰機構間的權責劃分。
The corporate governance framework should promote
transparent and efficient markets, be consistent with the rule of law and clearly
articulate the division of responsibilities among different supervisory,
regulatory and enforcement authorities.
A、
公司治理架構的研訂，應著眼於其對整體經濟和市場健全性的影響、為市場參加者所創造的誘因、及促進市場透明度和健全性。
A. The corporate governance
framework should be developed with a view to its impact on overall economic
performance, market integrity and the incentives it creates for market
participants and the promotion of transparent and efficient markets.
B、
各司法管轄區內影響公司治理實務的法規和監理規定應符合法治精神、透明化、且具有執行效力。
B. The legal and regulatory
requirements that affect corporate governance
practices in a jurisdiction should be consistent with the rule of law, transparent
and enforceable.
C、
各司法管轄區應清楚說明各主管機構間的權責劃分，並確保其能維護公共利益。
C.
The division of responsibilities among different
authorities in a jurisdiction should be clearly articulated and ensure that the
public interest is served.
D、
各檢查、監理和裁罰機構應具有權力、誠信和資源，俾能以專業、客觀態度履行其職責。其各項裁定應掌握時效、透明化、且充分對外說明。
D.
Supervisory, regulatory and enforcement authorities should have the authority, integrity
and resources to fulfil their duties in a professional and objective manner. Moreover,
their rulings should be timely, transparent and fully explained.
II. 股東權利和重要的所有權機制
II. The Rights of Shareholders and Key Ownership Functions
公司治理架構應保障及促進股東權利的行使。
The corporate governance framework should protect
and facilitate the exercise of shareholders’ rights.
A、
基本股東權利應包含下列各項：(1)具有取得所有權登記的方法；(2)得轉讓或移轉股份；(3)能定期且及時取得公司重要的相關資訊；(4)參與股東大會並行使表決權；(5)選舉和罷免董事；(6)分配公司盈利。
A.
Basic shareholder rights should include the right to: 1) secure methods of
ownership registration; 2) convey or transfer shares; 3) obtain relevant and
material information on the corporation on a timely and regular basis; 4)
participate and vote in general shareholder meetings; 5) elect and remove
members of the board; and 6) share in the profits of the corporation.
B、
股東應有權利參與公司基本變革相關決策，並獲得充分資訊，諸如：(1)修正公司章程、組織條款或其他類似的治理文件；(2)授權發行新股；(3)非常交易，包含移轉全部或大部分資產，致實質上造成公司的出售。
B.
Shareholders should have the right to participate in, and to be sufficiently
informed on, decisions concerning fundamental corporate changes such as: 1)
amendments to the statutes, or articles of incorporation or similar governing
documents of the company; 2) the authorisation of additional shares; and 3)
extraordinary transactions, including the transfer of all or substantially all
assets, that in effect result in the sale of the company.
C、
股東應有機會有效參與股東大會及表決，並被告知股東大會相關規則，包括表決程序：
C.
Shareholders should have the opportunity to participate effectively and vote in
general shareholder meetings and should be informed of the rules, including
voting procedures, that govern general shareholder meetings:
1.
應提供股東有關股東大會日期、地點和議程的充分且及時資訊，以及股東大會將進行表決議題的完整且及時資訊。
1. Shareholders should
be furnished with sufficient and timely information concerning the date,
location and agenda of general meetings, as well as full and timely information
regarding the issues to be decided at the meeting.
2.
在合理範圍內，股東應有機會對董事會提出質詢（包含有關年度外部稽核事項）、增列股東大會議程項目、及提出表決案。
2. Shareholders should
have the opportunity to ask questions to the board, including questions relating to the annual external audit, to place
items on the agenda of general meetings, and to propose resolutions, subject to
reasonable limitations.
3.
應協助股東有效參與公司重要的治理決策，諸如：董事的提名和選舉。對董事和重要主管的酬勞政策，股東應能發表其意見。對董事和員工的酬勞涉及入股部分，應經股東大會表決通過。
3. Effective shareholder
participation in key corporate governance decisions, such as the nomination and
election of board members, should be facilitated. Shareholders should be able
to make their views known on the remuneration policy for board members and key
executives. The equity component of compensation schemes for board members and
employees should be subject to shareholder approval.
4.
股東應得選擇使用在場或遠距投票，且在場與遠距投票具有相同效力。
4. Shareholders should
be able to vote in person or in absentia, and equal effect should be given to
votes whether cast in person or in absentia.
D、
能使某些股東取得超出其持股比例的控制權利的資本結構或安排，應對外揭露。
D.
Capital structures and arrangements that enable certain shareholders to obtain
a degree of control disproportionate to their equity ownership should be
disclosed.
E.
Markets for corporate control should be allowed to function in an efficient and
transparent manner.
1.
規範在資本市場取得公司控制權及非常交易（諸如：合併、出售公司大部分資產）的規則和程序，應清楚說明及揭露，俾讓投資人瞭解自身的權利及申訴管道。交易價格應透明化，且依照公平條件，保障到各類股東應有權利。
1. The rules and
procedures governing the acquisition of corporate control in the capital
markets, and extraordinary transactions such as mergers, and sales of substantial
portions of corporate assets, should be clearly articulated and disclosed so
that investors understand their rights and recourse. Transactions should occur
at transparent prices and under fair conditions that protect the rights of all
shareholders according to their class.
2.
不應運用反購併機制防護董事會和管理階層，使其免負績效責任。
2. Anti-take-over
devices should not be used to shield management and the board from
accountability.
F.
The exercise of ownership rights by all shareholders, including institutional investors,
should be facilitated.
1.
擔任受信託人的機構投資人應揭露其對所投資公司的整體公司治理和表決權行使政策，包括其行使表決權的決策程序。
1. Institutional
investors acting in a fiduciary capacity should disclose their overall corporate
governance and voting policies with respect to their investments, including the
procedures that they have in place for deciding on the use of their voting
rights.
2.
擔任受信託人的機構投資人應就可能影響其對所投資公司行使重要所有者權利的重大利益衝突事項，揭露其管理方法。
2. Institutional
investors acting in a fiduciary capacity should disclose how they manage
material conflicts of interest that may affect the exercise of key ownership
rights regarding their investments.
G、
除涉及防弊的例外情況外，應容許股東（包括機構投資人）就本準則所界定的基本股東權利相關議題，互相諮商。
G.
Shareholders, including institutional shareholders, should be allowed to
consult with each other on issues concerning their basic shareholder rights as
defined in the Principles, subject to exceptions to prevent abuse.
III. 平等對待股東
III. The Equitable
Treatment of Shareholders
公司治理架構應確保平等對待所有股東，包括少數股東及外國股東。所有股東對其權利所受侵害，均應有機會獲得有效的補救。
The
corporate governance framework should ensure the equitable treatment of all
shareholders, including minority and foreign shareholders. All shareholders
should have the opportunity to obtain effective redress for violation of their
rights.
A. 持有同一種類股份股東應受到同等的對待：
A. All shareholders of the same series of a class should be treated equally.
1. 持有同一種類股份的所有股東均應有同等的權利。投資人在購買股票之前，應能取得有關各類股份所附權利的資訊。任何表決權利的變動，均應經受不利影響的股份種類股東表決通過。
1.
Within any series of a class, all shares should carry the same rights. All investors should be able to
obtain information about the rights attached to all series and classes of
shares before they purchase. Any changes in voting rights should be subject to
approval by those classes of shares which are negatively affected.
2. 少數股東應受保障，使免遭控制股東或為其利益而採取的直接或間接不當行為的侵害，並應具備有效果的補救方法。
2.
Minority shareholders should be protected from abusive actions by, or in the interest
of, controlling shareholders acting either directly or indirectly, and should
have effective means of redress.
3. 保管機構或其代表人代行表決權時，應依其與股份受益所有權人間約定的方式為之。
3.
Votes should be cast by custodians or nominees in a manner agreed upon with the
beneficial owner of the shares.
4. 應消除跨國行使表決權障礙。
4.
Impediments to cross border voting should be eliminated.
5. 股東大會進行程序和作業流程，應能平等對待所有股東。公司作業流程不應造成表決權行使過於困難或昂貴。
5.
Processes and procedures for general shareholder meetings should allow for equitable
treatment of all shareholders. Company procedures should not make it unduly
difficult or expensive to cast votes.
B. 應禁止內線交易及不當圖利自己的交易。
B. Insider trading and abusive self-dealing should be
prohibited.
C. 應要求董事和重要主管對董事會揭露其是否直接、間接或代表第三者，在直接影響公司的交易或事項上具有重要利害關係。
C. Members of the board and key executives should be
required to disclose to the board whether they, directly, indirectly or on
behalf of third parties, have a material interest in any transaction or matter
directly affecting the corporation.
IV.
其他權益人在公司治理所扮演角色
IV.
The Role of Stakeholders in Corporate Governance
公司治理架構應體認其他權益人依法或透過互相約定所享有的權利，鼓勵公司與其他權益人積極合作，創造財富、就業機會和具有永續生存能力的財務健全企業。
The
corporate governance framework should recognise the rights of stakeholders
established by law or through mutual agreements and encourage active
co-operation between corporations and stakeholders in creating wealth, jobs,
and the sustainability of financially sound enterprises.
A. 其他權益人依法或透過互相約定所享有的權利應受到尊重。
A. The rights of stakeholders that are established by
law or through mutual agreements are to be respected.
B. 其他權益人受法律保障的權利受侵害時，應有機會獲得有效果的補救。
B. Where stakeholder interests are protected by law,
stakeholders should have the opportunity to obtain effective redress for
violation of their rights.
C. 以員工分紅入股促進經營績效的機制應受到容許。
C. Performance-enhancing mechanisms for employee
participation should be permitted to develop.
D. 其他權益人參與公司治理程序者，應有管道及時及定期取得相關、充分、可靠的資訊。
D. Where stakeholders participate in the corporate
governance process, they should have access to relevant, sufficient and
reliable information on a timely and regular basis.
E. 其他權益人（包括個別員工及其代表單位）應得自由向公司董事會傳達其對不合法或不道德作業實務的關切，且其權利不得因此而受減損。
E. Stakeholders, including individual employees and
their representative bodies, should be able to freely communicate their
concerns about illegal or unethical practices to the board and their rights
should not be compromised for doing this.
F. 公司治理架構應輔以有效果、有效率的喪失償債能力處理架構，以及有效果的債權人權利執行機制。
F. The corporate governance framework should be
complemented by an effective, efficient insolvency framework and by effective
enforcement of creditor rights.
V.
揭露與透明化
V.
Disclosure and Transparency
公司治理架構應確保及時、正確地揭露公司所有重大事項，包括：財務狀況、經營績效、所有權變動和公司治理事項。
The
corporate governance framework should ensure that timely and accurate
disclosure is made on all material matters regarding the corporation, including
the financial situation, performance, ownership, and governance of the company.
A. 揭露事項應包括（但不限於）下列重要資訊：
A. Disclosure should include, but not be limited to, material information
on:
1. 公司的財務和經營成果。
1.
The financial and operating results of the company.
2. 公司的經營目的。
2.
Company objectives.
3. 主要股東及所占表決權比重。
3. Major share ownership and voting rights.
4. 對董事和重要主管的酬勞政策，以及有關董事的資訊，包括其資格、選任程序、兼任之其他公司董事職務、及是否被董事會視為獨立董事。
4.
Remuneration policy for members of the board and key executives, and information
about board members, including their qualifications, the selection process,
other company directorships and whether they are regarded as independent by the
board.
5. 關係人交易。
5.
Related party transactions.
6. 可預見的風險因素。
6.
Foreseeable risk factors.
7. 有關員工及其他權益人的事項。
7.
Issues regarding employees and other stakeholders.
8. 治理架構及政策，特別是公司治理規範或政策，及其施行程序。
8.
Governance structures and policies, in particular, the content of any corporate
governance code or policy and the process by which it is implemented.
B. 資訊應依照高品質的會計準則、財務和非財務揭露準則編製及揭露。
B. Information should be prepared and disclosed in
accordance with high quality standards of accounting and financial and
non-financial disclosure.
C. 每年應由獨立、能幹、合格的稽核人員辦理年度稽核，俾向董事會及股東提供外部客觀的確認，證明財務報表在各重要層面均能公正表達公司的財務狀況和經營績效。
C. An annual audit should be conducted by an
independent, competent and qualified, auditor in order to provide an external
and objective assurance to the board and shareholders that the financial
statements fairly represent the financial position and performance of the
company in all material respects.
D. 外部稽核人員應對股東負責。在執行稽核工作時，應對公司盡到應有的專業注意責任。
D. External auditors should be accountable to the
shareholders and owe a duty to the company to exercise due professional care in
the conduct of the audit.
E. 所採用發表資訊的管道應能提供相關使用者平等、及時且符合成本效益原則的取得資訊通路。
E. Channels for disseminating information should
provide for equal, timely and cost efficient access to relevant information by
users.
F. 公司治理架構應輔以有效果的方法，促使分析師、經紀商、評等機構等得以提供與投資人決策有關的分析或顧問服務，且避免涉入可能減損其分析或顧問服務信實度的重大利益衝突。
F. The corporate governance framework should be
complemented by an effective approach that addresses and promotes the provision
of analysis or advice by analysts, brokers, rating agencies and others, that is
relevant to decisions by investors, free from material conflicts of interest
that might compromise the integrity of their analysis or advice.
VI.
董事會職責
VI.
The Responsibilities of the Board
公司治理架構應確使董事會對公司提供策略指導、並有效監控公司的管理，以及對公司及股東盡責。
The
corporate governance framework should ensure the strategic guidance of the
company, the effective monitoring of management by the board, and the board’s
accountability to the company and the shareholders.
A. 董事作為應依據充分資訊、善意、勤勉、盡到應有之注意，以及追求公司及股東最佳利益。
A. Board members should act on a fully informed basis,
in good faith, with due diligence and care, and in the best interest of the
company and the shareholders.
B. 董事會決策可能為不同股份種類股東帶來不同影響時，應公平對待所有股東。
B. Where board decisions may affect different
shareholder groups differently, the board should treat all shareholders fairly.
C. 董事會應採行高道德標準，考慮到其他權益人的利益。
C. The board should apply high ethical standards. It
should take into account the interests of stakeholders.
D. 董事會應履行某些重要功能，包括：
D. The board should fulfil certain key functions,
including:
1. 審核及引導公司策略、重要行動方案、風險管理政策、年度預算及營業計畫；設定績效目標；監控執行作業及公司績效；監督重大的資本支出、購併和分割出售作業。
1.
Reviewing and guiding corporate strategy, major plans of action, risk policy, annual
budgets and business plans; setting performance objectives; monitoring implementation
and corporate performance; and overseeing major capital expenditures,
acquisitions and divestitures.
2. 監控公司治理實務的執行成效，並作必要修正。
2.
Monitoring the effectiveness of the company’s governance practices and making
changes as needed.
3. 選任及監督重要主管、決定其酬勞，並於必要時，更換重要主管，以及監督營業接續計畫。
3.
Selecting, compensating, monitoring and, when necessary, replacing key executives
and overseeing succession planning.
4. 依照公司及其股東的長期利益，訂定董事及重要主管酬勞。
4.
Aligning key executive and board remuneration with the longer term interests of
the company and its shareholders.
5. 確保董事提名及選任程序正式且透明化。
5.
Ensuring a formal and transparent board nomination and election process.
6. 監控及管理高級主管、董事和股東的潛在利益衝突事項，包括不當使用公司資產及不當的關係人交易。
6.
Monitoring and managing potential conflicts of interest of management, board members
and shareholders, including misuse of corporate assets and abuse in related
party transactions.
7. 確保公司的會計和財務報告編報制度的健全，包括具備獨立的稽核作業及適當的內部控制制度，特別是風險管理制度、財務和作業控制制度、及確保遵守法令和相關準則的制度。
7.
Ensuring the integrity of the corporation’s accounting and financial reporting systems,
including the independent audit, and that appropriate systems of control are in
place, in particular, systems for risk management, financial and operational
control, and compliance with the law and relevant standards.
8. 監督揭露和對外溝通程序。
8.
Overseeing the process of disclosure and communications.
E. 董事會對公司事務應能行使客觀的獨立判斷：
E. The board should be able to exercise objective
independent judgement on corporate affairs.
1. 董事會應考慮分配足夠名額的非執行董事席位，俾能對潛在利益衝突事項行使獨立判斷工作。例如，確保財務和非財務報告的信實、審核關係人交易、提名董事和重要主管人選、決定董事酬勞等。
1.
Boards should consider assigning a sufficient number of non-executive board members
capable of exercising independent judgement to tasks where there is a potential
for conflict of interest. Examples of such key responsibilities are ensuring
the integrity of financial and non-financial reporting, the review of related
party transactions, nomination of board members and key executives, and board
remuneration.
2. 董事會成立各種委員會時，其任務、組成和作業程序應由董事會清楚界定並揭露之。
2.
When committees of the board are established, their mandate, composition and working
procedures should be well defined and disclosed by the board.
3. 董事必須能有效地投注心力履行其職責。
3.
Board members should be able to commit themselves effectively to their responsibilities.
F. 為履行其職責，董事應能取得正確、相關且及時的資訊。
F. In order to fulfil their responsibilities, board
members should have access to accurate, relevant and timely information.