摘要： 善意取得制度的正当性，一方面在于保护交易安全的宗旨，另一方面立基于能承载合理信赖的“权利外观基础”。就股权之让与，其意思主义的变动模式，确有股权无权处分之发生可能，确实存在“权利保有”与“权利取得”这两种利益之间的冲突。但在现行法上，公司登记中的股东登记，绝无承载股权“权利外观”功能的能力，难以构造股权善意取得制度来化解其利益冲突。因此，《公司法司法解释(三)》所引进的，以股东登记为信赖基础所构建的股权善意取得，在法政策上虽然值得称颂，但在现行法之解释论上无法证立。在立法论上股权如何善意取得，仍须从长计议。

关键词: 股权让与, 股权无权处分, 权利外观基础, 股权善意取得

Abstract: The legitimacy of the regime of bona fide acquisition lies in the secure of transactions.Nonetheless,such regime is based on the“semblance of rights”,which shall be reasonably relied upon.As to the transfer of equity,taking the stance of“principle of will”in the interpretation of the law,there exist possibilities of disposition of equity by an unauthorised person,which therefore leads to interest conflicts between the right of retention and the right of acquision.However,the register of shareholders in China lex lata is in no way able to serve to present the“semblance of rights”,so that it's impossible to eliminate conflicts of interests by establishing good faith acquisition of equity.Therefore,the good faith  acquisition of equity introduced by the Supreme Court“Interpretation of Corporate Law(III)”,which shall reasonably rely on the shareholder register,will fail under such interpretation in China lex lata in spite of its merits of legislative policy.Thus,how to establish the good faith acquisition of equity in PRC law is still an unaccomplished task.

Key words: Transfer of Equity, Disposition of Equity by an Unauthorised Person, Semblance of Rights, Good Faith Acquisition of Equity