|
Welcome Guest
|
|
You are using Guest Account
|
|
||||||||||||||||||||||||||||||||||
|
Article 1. The present Measures are formulated according to the Regulation on Financial Asset Management Companies and the Measures for the Administration of Asset Disposal of Financial Asset Management Companies (Revised), etc. for the purpose of further regulating the asset disposal as conducted by financial asset management companies (hereinafter referred to as the "asset companies"), intensifying the transparency of asset disposal, accepting the supervision of the general public, preventing moral risks, and promoting asset companies to dispose non-performing assets according to the principles of openness, fairness, impartiality and competition and selection of the excellent ones, so as to reduce the loss from asset disposal to the minimum degree. Article 2. The relevant laws and regulations shall be observed in any asset disposal announcement of an asset company. The information in an announcement shall be publicized to the general public in a timely, effective, authentic and complete manner. Article 3. The asset scope as applied in the announcement of an asset company includes all kinds of non-performing assets as purchased by an asset company (including the incidental gratuitous transfer, hereinafter the same) and other assets, of which the right to dispose belong to the relevant asset company according to law: (1) The asset of credit right: the non-performing loans as purchased by an asset company as well as the relevant interests; (2) The asset of stock right: the stock right of a debt-to-equity swap enterprise as held by an asset company and the stock rights of all kinds of enterprises as held by the other means such as asset exchange and swapping debts with assets; (3) The asset of in-kind: all kinds of in-kind assets, of which, the ownership and the right to dispose belong to an asset company, including the in-kind asset used to swap debts or the in-kind asset as withdrawn by disposing mortgage (pledge) loans, etc; and (4) Any other equity asset: intangible assets, etc. Article 4. An asset disposal announcement shall at least include the following contents: (1) The description of assets, including the name, type, location, amount of subject matter, quantity, enterprise as involved, mortgage and guaranty as well as the present state of the assets; (2) The declaration of will to dispose assets; (3) The declaration of will to require a consultation on or to file a demurral over any asset disposal item; (4) The requirement of transaction objects and conditions; (5) The contact person and contact way; (6) The way to tip off any rejection or obstruction of solicitation or demurral; and (7) Any other circumstance as required to be explained. Article 5. For any asset that falls in the asset scope of announcement as prescribed in the present Measures, before the formation of an asset disposal plan, the basic information thereof shall, according to the requirements as prescribed in paragraph 1 of Article 4, be uploaded onto the public website of the relevant asset company in an item-by-item way for social reference unless there is any different provision. Article 6. As to any item, for which the relevant asset disposal plan has been worked out, before the asset disposal examination organization of an asset company carries out an examination, the relevant announcement of the said item shall not only be announced on the public website of the relevant asset company, but also, where the subject matter of asset disposal (the overall book value of the asset) exceeds 10 million yuan, shall it be announced in a newspaper at the corresponding level. In particular: (1) The asset disposal item with a subject matter as evaluated from 10 million yuan up to 50 million yuan (including 50 million yuan) shall be announced in an economic or comprehensive newspaper that is publicly issued in a place where the said asset is involved at or above the prefectural or municipal level; and (2) The asset disposal item with a subject matter as evaluated above 50 million yuan shall be announced in an economic or comprehensive newspaper that is publicly issued in a place where the said asset is involved at or above the provincial level. Article 7. The time for an announcement of asset disposal in a newspaper shall meet the following provisions: (1) The asset disposal item with a subject matter as evaluated from 10 million yuan up to 50 million yuan (including 50 million yuan) shall be announced at least 10 workdays before an examination is carried out by an asset disposal examination organization; (2) The asset disposal item with a subject matter as evaluated above 50 million yuan shall be announced at least 15 workdays before an examination is carried out by an asset disposal examination organization; and (3) The asset disposal item as transferred in package shall be announced at least 22 workdays before an examination is carried out by an asset disposal examination organization. Article 8. For any asset item as disposed in package, an overall introduction shall be made in an announcement, revealing the household number, amount, asset form and debt distribution of the asset package as well as the way and means, by which an investor may obtain the concrete information of credit rights from the creditors. The information of the asset package shall be uploaded onto the public website of the relevant asset company in a way of item by item and household by household. Or the detailed written introductory materials of the asset package shall be provided to investors in a proper manner. Article 9. Where any asset is disposed by such means as auction or bid invitation and tender, the relevant announcement shall be made according to the provisions of the relevant laws and regulations, the content of which may be handled by referring to the provisions of Article 4 as mentioned above. Article 10. In the process of a litigation, for any item as involved in a case whereby a debtor performs the judgment of a court or in a case that is concluded by compulsory enforcement; any item as formed by a bankruptcy according to law; or any item, for which an announcement is not required or is improper to be made according to the relevant policies of the state or due to any other special circumstance, an announcement may be exempted in spite of the present Measures. Article 11. An asset company or relevant work office shall establish the internal work procedures for formulating and publicizing an asset disposal announcement, designate an administrative department of asset disposal announcement so as to ensure the regulation and orderliness of the announcement work. An asset company shall carry out strict examination on the media selection and publication form of asset disposal announcement and shall report the media as selected for the publication of asset disposal announcement to the financial supervision commissioners' office of the Ministry of Finance as well as the banking regulatory bureau in the region where it is located. Article 12. An asset company shall, where carrying out an examination of an asset disposal plan according to the provisions on the administration of asset disposal, submit both the announcement and the plan to the asset disposal examination organization for examination. Article 13. The asset disposal department of an asset company shall, according to the announcement as made, improve and optimize the relevant asset disposal plan. The asset disposal examination organization shall, where finding that an announcement may have a significant impact on asset disposal, urge the asset disposal department to strive further for a more reasonable plan for asset disposal. Article 14. Where an asset disposal item has been announced according to the present Measures and if the disposal plan is altered but the content as announced has no change, it is, as a general principle, not necessary to make a new announcement. Article 15. An asset company shall, according to the relevant provisions of the state on archives, intensify the archival administration of asset disposal announcement. The materials concerning the procedure and result of asset disposal shall be recorded in an authentic manner and shall be kept in an intact way. Article 16. An entity or individual may not interfere with any asset disposal announcement activity as conducted by an asset company by any means, may not restrict or reject any consultation or demurral as filed by a legal person, any other organization or natural person and may not obstruct or conceal any tip-off as filed by the general public. An asset company shall resist the disturbance on its asset disposal announcement activity from any other entity or individual and shall report the disturbance to the relevant supervisory department. Article 17. The commissions' office of the Ministry of Finance that stations in a region, the banking regulatory bureau and the departments of auditing and disciplinary supervision of an asset company in a region shall carry out supervision and examination on the asset disposal announcement activity as conducted by an asset company, accept any tip-off concerning any rejection or obstruction of consultation or demurral or concerning any other interference with the asset disposal announcement activity and shall make verification and carry out the relevant investigation. Article 18. For any of the following actions, negligence of duty or violation of provisions that causes any loss of state-owned assets, upon verification, the relevant violator shall be given an economic punishment as well as administrative sanction based on the principle of combining the punishing of persons and the handling of matters and according to the relevant provisions: (1) Failing to announce any asset disposal item as required to be announced or unlawfully exempting any required announcement in an asset disposal without any justifiable reason; (2) The time of announcement failing to comply with the relevant provisions; (3) The rank of media as selected for announcement failing to meet the requirement of the relevant provisions; (4) The content of the announcement failing to be complete and authentic, which affects a normal judgment on asset value; (5) Failing to accept a consultation or demurral, handling any matter with a negative attitude, or suppressing or concealing any matter; (6) The archival administration of asset disposal announcement being disorderly or any important record or document being incomplete or lost; (7) Violating the relevant provisions of the state on confidentiality; (8) Having any other act involving interference with asset disposal announcement. Article 19. The Measures shall come into force as of the day of printing and distribution. |
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
Copyright 2002 NovexCn.com
|