بررسی فقهی- حقوقی شیوه های جایگزین معامله اوراق سلف نفتی در بازار ثانوی
محورهای موضوعی : حقوق خصوصیعبدالحسین شیروی 1 , هادی رحمانی 2
1 - عضو هیئت علمی استاد گروه حقوق خصوصی دانشگاه تهران
2 - دکترای حقوق
کلید واژه: سلف موازی, سلف موازی استاندارد, وصف تجریدی, حقوق گردان, اوراق سلف نفتی,
چکیده مقاله :
ممنوعیت فروش مبیع سلف قبل از سررسید باعث شده است که ایجاد بازار ثانوی برای اوراق سلف نفتی به شیوه ی معمول غیرممکن باشد. از این رو باید به دنبال شیوه های جدیدی برای فروش اوراق سلف در بازار ثانویه باشیم. برخی روش های جایگزین پیشنهاد شده عبارتند از سلف موازی، واگذاری وکالتی و صلح مبیع سلف که هر کدام از این روش ها ایراداتی دارند که ایجاد بازار ثانوی را با اشکال مواجه می نمایند. روش ترکیب سلف موازی و حواله اگرچه کاملترین روش پیشنهاد شده محسوب می گردد اما همچنان ایراداتی دارد که در این تحقیق در صدد رفع آن برآمده ایم و در مسیر رفع این ایرادات در جهت دستیابی به روش پیشنهادی نهائی سیر نموده ایم. به عقیده ی ما عرف تجاری و ویژگی های معاملات بورسی، برای اوراق سلف وصف تجریدی ناقصی ایجاد نموده و این اوراق را از معاملات مبنای آنها منفک نموده و بعنوان حقوق مستقلی قابل معامله گردانیده است. در این روش نیاز به توجیه نقل و انتقال اوراق با عقد حواله و مواجهه با محدودیت های فقهی این عقد نیست و نظام حقوقی جدیدی برای انتقال اوراق سلف نفتی پیشنهاد می نماید.
Selling Salaf commodity before maturity is forbidden by Islam, so making a secondary market for these securities is not possible within common procedures. Hence we have to find a new way to make a secondary market for these securities. Some proposed ways are parallel Salaf, assignment through agency and Solh of Salaf commodity, all of which have shortcomings that puts the formation of secondary markets in trouble. Combination of parallel Salaf and assignment (Havaleh) seems to be the most complete proposal, yet there are still many problems with it. This study attempts to challenge them and another way that is considering securities as Circulating Rights. Circulating Rights is a matter that is considered in foreign law systems and is not compatible with Islamic Jurisprudence rules. But we can somewhat accept this rules in our system when combining them with Islamic rules.
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