Decision on Revising the Administrative Measures for Securities Issuance and Underwriting
Decision on Revising the Administrative Measures for Securities Issuance and Underwriting
Decision on Revising the Administrative Measures for Securities Issuance and Underwriting
Order of the China Securities Regulatory Commission No.144
June 15, 2018
The Decision on Revising the Administrative Measures for Securities Issuance and Underwriting was adopted at the fifth president's executive meeting of the China Securities Regulatory Commission on June 14, 2018 upon deliberation, and is hereby promulgated with effect as of June 15, 2018.
Liu Shiyu, President of the China Securities Regulatory Commission
Decision on Revising the Administrative Measures for Securities Issuance and Underwriting
I. Paragraph 1 of Article 2 is revised to read "The Measures apply where an issuer offers shares, depository receipts or convertible corporate bonds (hereinafter collectively referred to as the "securities") in China; a securities company underwrites securities in China; and the investors subscribe for the securities offered in China. Where there are other provisions specified by the CSRC, such provisions shall apply."
A new paragraph is added as Paragraph 2, which reads "Overseas underlying securities issuers of depository receipts shall perform their obligations as issuers or listed companies and assume the corresponding legal liabilities as specified in these Measures; the issuance and underwriting of depository receipts within the territory of China shall apply to relevant provisions on the issuance and underwriting of shares under these Measures, unless otherwise provided by these Measures concerning depository receipts."
II.
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Order of the China Securities Regulatory Commission No.144
June 15, 2018
The Decision on Revising the Administrative Measures for Securities Issuance and Underwriting was adopted at the fifth president's executive meeting of the China Securities Regulatory Commission on June 14, 2018 upon deliberation, and is hereby promulgated with effect as of June 15, 2018.
Liu Shiyu, President of the China Securities Regulatory Commission
Decision on Revising the Administrative Measures for Securities Issuance and Underwriting
I. Paragraph 1 of Article 2 is revised to read "The Measures apply where an issuer offers shares, depository receipts or convertible corporate bonds (hereinafter collectively referred to as the "securities") in China; a securities company underwrites securities in China; and the investors subscribe for the securities offered in China. Where there are other provisions specified by the CSRC, such provisions shall apply."
A new paragraph is added as Paragraph 2, which reads "Overseas underlying securities issuers of depository receipts shall perform their obligations as issuers or listed companies and assume the corresponding legal liabilities as specified in these Measures; the issuance and underwriting of depository receipts within the territory of China shall apply to relevant provisions on the issuance and underwriting of shares under these Measures, unless otherwise provided by these Measures concerning depository receipts."
II.
......