Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies
Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies
Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies
Order of the China Securities Regulatory Commission No.96
December 26, 2013
The Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies, adopted at the 15th chairmen's executive meeting of the China Securities Regulatory Commission (hereinafter referred to as "CSRC") on December 2, 2013, is hereby promulgated and comes into force as of the date of promulgation.
Chairman of the China Securities Regulatory Commission: Xiao Gang
Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies
Article 1 Article 2 shall be revised to "For the purpose of the Administrative Measures for the Supervision over Unlisted Public Companies (Revised) (hereinafter referred to as the "Measures"), unlisted public companies (hereinafter referred to as the "public companies") refer to those joint stock limited companies, which fall within any of the following circumstances and stocks of which are not listed on any securities exchange for trading:
1. shareholders accumulated to over 200 as a result of offering or transferring stocks to particular investors; or
2. stocks are transferred in a public manner".
Article 2 Article 4 shall be revised to "transfer of such stocks in a public manner by the public companies shall be done on the share transfer system for small and medium sized enterprises nationwide (hereinafter referred to as the "share transfer system") and all public companies' stocks shall be subject to centralized registration and deposit by China Securities Depository and Clearing Corporation Limited".
Article 3 Add an article to be Article 5: "The public companies may conduct equity financing, debt financing, asset restructuring and other activities in accordance with the law and the public companies shall issue preference shares and other securities in accordance with the law, administrative regulations and relevant provisions specified by CSRC".
Article 4 Article 21 shall be advised to be Article 22 with "Any public company developing public transfer and placement of stocks shall disclose its semiannual report and annual report.
......
Order of the China Securities Regulatory Commission No.96
December 26, 2013
The Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies, adopted at the 15th chairmen's executive meeting of the China Securities Regulatory Commission (hereinafter referred to as "CSRC") on December 2, 2013, is hereby promulgated and comes into force as of the date of promulgation.
Chairman of the China Securities Regulatory Commission: Xiao Gang
Decision on Revising the Administrative Measures for the Supervision over Unlisted Public Companies
Article 1 Article 2 shall be revised to "For the purpose of the Administrative Measures for the Supervision over Unlisted Public Companies (Revised) (hereinafter referred to as the "Measures"), unlisted public companies (hereinafter referred to as the "public companies") refer to those joint stock limited companies, which fall within any of the following circumstances and stocks of which are not listed on any securities exchange for trading:
1. shareholders accumulated to over 200 as a result of offering or transferring stocks to particular investors; or
2. stocks are transferred in a public manner".
Article 2 Article 4 shall be revised to "transfer of such stocks in a public manner by the public companies shall be done on the share transfer system for small and medium sized enterprises nationwide (hereinafter referred to as the "share transfer system") and all public companies' stocks shall be subject to centralized registration and deposit by China Securities Depository and Clearing Corporation Limited".
Article 3 Add an article to be Article 5: "The public companies may conduct equity financing, debt financing, asset restructuring and other activities in accordance with the law and the public companies shall issue preference shares and other securities in accordance with the law, administrative regulations and relevant provisions specified by CSRC".
Article 4 Article 21 shall be advised to be Article 22 with "Any public company developing public transfer and placement of stocks shall disclose its semiannual report and annual report.
......