Measures of the China Securities Regulatory Commission for the Issuance Examination Committee (Revised in 2017)
Measures of the China Securities Regulatory Commission for the Issuance Examination Committee (Revised in 2017)
Measures of the China Securities Regulatory Commission for the Issuance Examination Committee (Revised in 2017)
Order of the China Securities Regulatory Commission No. 134
July 7, 2017
(Adopted upon deliberation at the 179th Chairman Executive Meeting of the China Securities Regulatory Commission on May 8, 2006, and amended in accordance with the Decision on Revising the Measures of the China Securities Regulatory Commission for the Issuance Examination Committee promulgated by the China Securities Regulatory Commission on May 13, 2009 and July 7, 2017 respectively)
Chapter I General Provisions
Article 1 The Measures are hereby formulated in accordance with the Securities Law of the People's Republic of China for the purposes of guaranteeing the implementation of the principles of openness, fairness and impartiality in the work of stock issuance examination, enhancing the quality, efficiency and transparency of stock issuance examination, and better protecting the legitimate rights and interests of investors.
Article 2 The China Securities Regulatory Commission (the "CSRC") sets up the Issuance Examination Committee (the "IEC") and the Listed Company Merger, Acquisition and Reorganization Examination Committee (the "MARC").
The Measures shall apply to the examination of issuers' stock issuance applications and issuance applications for other securities recognized by the CSRC such as convertible corporate bonds (collectively the "stock issuance applications") by the IEC.
The rules on the composition, functions and duties and work flow of the MARC shall be otherwise formulated.
Article 3 The IEC shall examine an issuer's stock issuance application and the preliminary examination report of the competent department under the CSRC in accordance with the laws and regulations such as the Securities Law of the People's Republic of China and the Company Law of the People's Republic of China as well as the provisions of the CSRC.
The IEC shall vote on the stock issuance application by ballot, and propose an examination opinion thereafter.
The CSRC shall decide whether or not to approve the stock issuance application in accordance with the statutory requirements and procedures.
Article 4 The IEC shall perform its functions and duties through its work meeting (the "IEC meeting").
Article 5 The CSRC is responsible for the daily management of affairs of the IEC and the appraisal and supervision of members of the IEC.
Chapter II Composition of the IEC
Article 6 The members of the IEC shall be composed of professionals of the CSRC and the relevant experts outside of the CSRC, who shall be engaged by the CSRC.
The number of IEC members shall be 66, and part of them may work full time.
The IEC shall have a meeting convener.
Article 7 The term of office for each IEC member shall be one year, and may be renewed, provided that the consecutive term of office shall not exceed two years. At least half of IEC members shall be replaced each year.
A member of the IEC or the MARC shall not be each other's member concurrently.
Article 8 The CSRC sets up the IEC member selection committee to select and employ members for the IEC based on the principles of compliance with the law, openness and selection of the superior, and the persons selected for IEC members are disclosed to the market for social supervision.
Article 9 A member of the IEC shall satisfy the following conditions:
1. have high ideological and political quality, theoretical level and moral accomplishment;
2. adhere to principles, be impartial and incorruptible, be responsible, and strictly abide by the laws, administrative regulations and rules of the State;
3. be familiar with the practices of securities and accounting and the relevant laws, administrative regulations and rules thereon;
4. have a good command of the professional knowledge of the field he/she engages in, and have a high reputation within the field;
5. have no record of any violation of laws or discipline; and
6. other conditions as required by the CSRC.
Article 10 The CSRC shall dismiss any member of the IEC if he/she falls under any of the following circumstances:
1.
......
Order of the China Securities Regulatory Commission No. 134
July 7, 2017
(Adopted upon deliberation at the 179th Chairman Executive Meeting of the China Securities Regulatory Commission on May 8, 2006, and amended in accordance with the Decision on Revising the Measures of the China Securities Regulatory Commission for the Issuance Examination Committee promulgated by the China Securities Regulatory Commission on May 13, 2009 and July 7, 2017 respectively)
Chapter I General Provisions
Article 1 The Measures are hereby formulated in accordance with the Securities Law of the People's Republic of China for the purposes of guaranteeing the implementation of the principles of openness, fairness and impartiality in the work of stock issuance examination, enhancing the quality, efficiency and transparency of stock issuance examination, and better protecting the legitimate rights and interests of investors.
Article 2 The China Securities Regulatory Commission (the "CSRC") sets up the Issuance Examination Committee (the "IEC") and the Listed Company Merger, Acquisition and Reorganization Examination Committee (the "MARC").
The Measures shall apply to the examination of issuers' stock issuance applications and issuance applications for other securities recognized by the CSRC such as convertible corporate bonds (collectively the "stock issuance applications") by the IEC.
The rules on the composition, functions and duties and work flow of the MARC shall be otherwise formulated.
Article 3 The IEC shall examine an issuer's stock issuance application and the preliminary examination report of the competent department under the CSRC in accordance with the laws and regulations such as the Securities Law of the People's Republic of China and the Company Law of the People's Republic of China as well as the provisions of the CSRC.
The IEC shall vote on the stock issuance application by ballot, and propose an examination opinion thereafter.
The CSRC shall decide whether or not to approve the stock issuance application in accordance with the statutory requirements and procedures.
Article 4 The IEC shall perform its functions and duties through its work meeting (the "IEC meeting").
Article 5 The CSRC is responsible for the daily management of affairs of the IEC and the appraisal and supervision of members of the IEC.
Chapter II Composition of the IEC
Article 6 The members of the IEC shall be composed of professionals of the CSRC and the relevant experts outside of the CSRC, who shall be engaged by the CSRC.
The number of IEC members shall be 66, and part of them may work full time.
The IEC shall have a meeting convener.
Article 7 The term of office for each IEC member shall be one year, and may be renewed, provided that the consecutive term of office shall not exceed two years. At least half of IEC members shall be replaced each year.
A member of the IEC or the MARC shall not be each other's member concurrently.
Article 8 The CSRC sets up the IEC member selection committee to select and employ members for the IEC based on the principles of compliance with the law, openness and selection of the superior, and the persons selected for IEC members are disclosed to the market for social supervision.
Article 9 A member of the IEC shall satisfy the following conditions:
1. have high ideological and political quality, theoretical level and moral accomplishment;
2. adhere to principles, be impartial and incorruptible, be responsible, and strictly abide by the laws, administrative regulations and rules of the State;
3. be familiar with the practices of securities and accounting and the relevant laws, administrative regulations and rules thereon;
4. have a good command of the professional knowledge of the field he/she engages in, and have a high reputation within the field;
5. have no record of any violation of laws or discipline; and
6. other conditions as required by the CSRC.
Article 10 The CSRC shall dismiss any member of the IEC if he/she falls under any of the following circumstances:
1.
......