Provisions of the China Securities Regulatory Commission on the Implementing Procedures of Administrative Licensing
Provisions of the China Securities Regulatory Commission on the Implementing Procedures of Administrative Licensing
Provisions of the China Securities Regulatory Commission on the Implementing Procedures of Administrative Licensing
Order of the China Securities Regulatory Commission [2009] No. 66
December 16, 2009
The Provisions of the China Securities Regulatory Commission on the Implementing Procedures of Administrative Licensing, which have been deliberated and adopted at the 265th executive meeting of the China Securities Regulatory Commission on December 16, 2009, are hereby promulgated and shall come into force as of February 1, 2010.
Director of the China Securities Regulatory Commission: Shang Fulin
Provisions of the China Securities Regulatory Commission on the Implementing Procedures of Administrative Licensing
Chapter I General Provisions
Article 1 For the purposes of regulating the administrative licensing activities implemented by the China Securities Regulatory Commission (hereinafter referred to as "CSRC") and improving the implementation system for administrative licensing of securities and futures, these Provisions are hereby formulated in accordance with the Administrative License Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Law of the People's Republic of China on Securities Investment Fund, the Administrative Regulations on Futures Trading and other laws and regulations.
Article 2 For the purpose of these Provisions, "administrative licensing" refers to the act of CSRC to approve a natural person, a legal person or other organizations (hereinafter referred to as "Applicant") to engage in specific activities in the securities and futures market upon legitimate examination and review and in accordance with the application of the Applicant for such approval.
Article 3 These Provisions shall apply to the implementing procedures of administrative licensing conducted by CSRC.
These Provisions shall also apply to the application for alteration of administrative licenses or the renewal of the validity of the administrative licenses by the Applicant upon his/her legitimate obtaining of such administrative licenses.
Article 4 The CSRC shall implement the administrative licensing in accordance with its statutory power and the statutory conditions and procedures and within the statutory scope, and follow the principles of opening, impartiality, fairness and convenience so as to enhance the work efficiency and provide high-quality services.
Where the implementation of administrative licensing shall be subject to the principle of prudential supervision in accordance with the provisions of laws and regulations, such provisions shall prevail.
Article 5 The CSRC may authorize its dispatched institutions to implement administrative licensing in accordance with the laws. In case of administrative licensing implemented with authorization, the administrative licensing decision shall be made in the name of such dispatched institutions.
Article 6 The CSRC may implement such systems as uniform acceptance of administrative licenses application, uniform service of administrative licensing decision, one-for-all notification about making supplements, making explanations and publication with respect to its implementation of administrative licensing.
Chapter II General Procedures
Section 1 Acceptance
Article 7 Special institutions (hereinafter referred to as "Acceptance Department") shall handle the matters with respect to application of administrative licenses for the implementation of administrative licensing by the CSRC.
Article 8 When the Applicant submits the application material, the Acceptance Department shall request the Applicant to present such identification certificates as the letter of introduction issued by his/her entity and his/her I.D. Card and shall then verify the same. Where the Applicant entrusts other people to submit the required material, the Acceptance Department shall request the agent to provide the power of attorney issued by the Applicant and present his/her identification certificates. The Acceptance Department shall keep the copies of the identification certificates of the Applicant or his/her agent.
The Applicant who submits application material shall fill in the Application Material Details Regiatration Form.
Article 9 Where the Acceptance Department finds out that the applied matters are not required to obtain administrative licenses or do not fall into the scope of the power of the CRSC according to the laws, the Acceptance Department shall timely notify the Applicant about not accepting the application in question and issue a notice of no acceptance of application. Where the applied matters do not fall into the scope of the power of the CRSC, the Acceptance Department is also required to notify the Applicant to apply to relevant administrative authorities.
Article 10 Upon receipt of application material, the Acceptance Department shall timely go through the registration formalities and issue an acceptance receipt of the application material to the Applicant.
Article 11 The department in charge of the examination of the application material (hereinafter referred to as "Examination Department") shall conduct examination on the form of the application material; in case that the Applicant is required to make supplements to the application material, all the requirements for making such supplements shall be put forward one at a time within 5 working days upon issuance of acceptance receipt.
No Examination Department may repeatedly require an Applicant to make such supplements.
Article 12 Where the Applicant is required to make supplements to the application material, the Examination Department shall issue notice for making supplement; where the Applicant needs to use the submitted application material when making supplements to the same, such application material shall be returned to the Applicant and then be recorded.
The Applicant shall submit the supplementary application material within thirty (30) days upon issuance of the notice for making supplement.
The Examination Department shall be responsible for receiving and recording the supplementary application material submitted by the Applicant as required.
Article 13 Where the Applicant demands to withdraw the application prior to the decision on acceptance of application by the Acceptance Department, the Acceptance Department shall check and keep the identification certificates (or the copies thereof) of the Applicant or his/her agent, the power of attorney and the report on withdrawal of application, and reclaim the acceptance receipt of application material and then return such application material to the Applicant upon recording.
A copy (or photocopy) of the application material shall be kept in case of returning the application material to the Applicant.
Article 14 Where the applied matters fall into the scope of power and duties of the CRSC and the application material is complete and in consistent with the statutory form, the Acceptance Department shall issue notice of acceptance.
Where the Applicant shall make payment for relevant fees with respect to the application that has been decided to accept as required by the provisions of the laws and regulations, the Acceptance Department shall notify the Applicant to first make such payment and then the Applicant may collect the notice of acceptance on the strength of the receipt of such payment.
Article 15 Where the Applicant is under any of the following circumstances, a decision on not accepting the application shall be made:
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