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REGULATION ON THE INSPECTION AND VERIFICATION OF ENVIRONMENTAL PROTECTION OF CORPORATIONS APPLYING FOR LISTING AND LISTED CORPORATIONS APPLYING FOR REFINANCING |
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(Notice of the State Environmental Protection Administration on the Inspection and Verification of Environmental Protection of the Corporations Applying for Listing and the Listed Corporations Applying for Refinancing (No.101 [2003] of the State Environmental Protection Administration), June 16, 2003: In order to urge the listed corporations in the industries of heavy pollution to strictly implement the laws, regulations and policies of environmental protection, prevent the investment risks of the listed corporations brought about by the problem of pollution, control the investment orientation of the publicly raised capitals, the Regulation on the Inspection and Verification of Environmental Protection of Corporations Applying for Listing and Listed Corporations Applying for Refinancing has been formulated by this administration according to the relevant regulations of China Securities Regulatory Commission on the inspection and verification of environmental protection of the listed companies. The Notice on the Inspection and Verification of Environmental Protection of the Listed Companies (No.156 [2001] of the State Environmental Protection Administration) shall be abrogated simultaneously) |
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SUBJECT : SECURITIES ISSUANCE; ENVIRONMENTAL REQUIREMENTS |
ISSUING DEPARTMENT : STATE ENVIRONMENTAL PROTECTION ADMINISTRATION |
ISSUE DATE : 06/16/2003 |
IMPLEMENT DATE : 06/16/2003 |
LENGTH : 807 words |
TEXT : |
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To ensure the listed corporations in the industries of heavy pollution to strictly comply with the laws, regulations and policies of environmental protection, prevent the investment risks of the listed corporations brought about by the problem of pollution, control the investment orientation of the publicly raised capitals, guide the environmental protection departments of all levels in inspecting and verifying the corporations applying for listing and the listed corporations applying for refinancing, the regulation is hereby formulated.
I. OBJECTS OF INSPECTION AND VERIFICATION
Objects of inspection and verification are:
(1) The corporations in the industries of heavy pollution that apply for listing; and
(2) The listed corporations applying for refinancing, with the raised capital investing in the industries of heavy pollution.
The industries of heavy pollution shall refer to the following industries temporarily: metallurgy, chemical industry, petro-chemistry, coal, thermal power, building material, paper making, brewage, pharmaceutical, fermenting, spinning and weaving, tanning and mining industry.
II. THE CONTENT AND REQUIREMENTS OF THE INSPECTION AND VERIFICATION
(1) Requirements for corporations applying for listing are the following:
1. The major pollutants discharged meets the standard set by the state or the local authority; 2. The permission for discharge has been acquired, and the requirement of the permission has been fulfilled; 3. The major pollutants of the major products of the corporations meets the advanced level of the similar industry; 4. The safe treatment rates of the industrial solid waste and dangerous waste is 100%; 5. Implementation rates of the environmental impact appraisal of the new, altered and enlarged project and the of the ˇ°Three Simultaneous mechanismˇ± both reach 100%, which also have been inspected and qualified by the environmental protection authorities; 6. The stable operation rate of the environmental protection facilities exceeds 95%; 7. The pollutant discharging fee has been turned in according to the relevant regulations; and 8. The materials forbidden in the laws, regulations and standards and in the international conventions signed by our country are not contained in the products or used in the production process.
(2) Requirements for the listed corporations applying for refinancing are the following:
In addition to the above requirements for the corporations applying for listing, the following content shall be inspected and verified: 1. The investment of the raised capital does not lead to realistic or potential environmental effect; 2. The investment of the raised capital is beneficial to the improvement of the environmental quality; and 3. The investment of the raised capital is beneficial to the adjustment of industrial structure and not be invested in the lagged industries, processes or products, which have been eliminated by the state.
III. PROCESS OF INSPECTION AND VERIFICATION
The corporations applying for listing and the listed corporations applying for refinancing shall apply for the inspection and verification to the environmental protection administrative departments at the provincial level in the place of registration, and submit the following basic materials:
(1) The general information of the corporation (including the members of the corporation);
(2) The plan of listing or refinancing reported to China Securities Regulatory Commission for approval;
(3) The relevant documents to prove the conformability with Article 3 of the Regulation; and
(4) Other related documents required by the environmental protection administrative departments at the provincial level in the place of registration.
The environmental protection administrative departments at the provincial level shall, from the date of accepting the application for inspection and verification, organize experts or authorize relevant institutions to examine the materials provided by the corporations and to verify on site in 30 workdays, then publicize the result of the inspection and verification in the relevant media for 10 days, and on the basis of public summons provide opinions and suggestions, which will be then reported to China Securities Regulatory Commission in form of letter of this administration, and the copy of which reported to the State Environmental Protection Administration.
In case the thermal power generation corporations apply for listing or refinancing, the environmental protection administrative department at the provincial level shall provide its initial opinions of inspection and verification and report them to the State Environmental Protection Administration. After this administration has checked and ratified the application and the opinions, the result shall be publicized in the government website of this administration for 10 days. Then this administration shall, on basis of the publicity situation, provide opinions and suggestions of inspection and verification, and report to China Securities Regulatory Commission in form of letter of this administration.
In case the trans-province corporations in the industries of heavy pollution apply for listing or refinancing, the environmental protection administrative departments at the provincial level in the place of registration shall coordinate with other related departments at the same level, and report the opinions and suggestions concerning the inspection and verification to the State Environmental Protection Administration, which shall in turn report them to China Securities Regulatory Commission.
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