|
Welcome Guest
|
|
You are using Guest Account
|
|
||||||||||||||||||||||||||||||||||
|
TABLE OF CONTENTS CHAPTER I GENERAL PROVISIONS CHAPTER II POST-HOLDING QUALIFICATIONS CHAPTER III EXAMINATION, APPROVAL OR MANAGEMENT OF POST-HOLDING QUALIFICATIONS CHAPTER IV CANCELLATION OF POST-HOLDING QUALIFICATIONS CHAPTER V SUPPLEMENTARY PROVISIONS CHAPTER I GENERAL PROVISIONS Article 1. For the purposes of administering the senior managers of financial institutions and ensuring the steady and sound operation of the financial sector, these Measures are formulated in accordance with the Law of the People's Republic of China on the People's Bank of China, the Law of the People's Republic of China on Commercial Banks and other relevant laws and regulations. Article 2. The term "financial institutions" as mentioned in these Measures refers to the banks, financial asset management companies, trust & investment companies, enterprise group financial companies, financial leasing companies, urban credit cooperatives and urban credit cooperative unions, rural credit cooperatives and rural credit cooperative unions, as well as other financial institutions lawfully established within the territory of the People's Republic of China upon approval of the People's Bank of China (hereinafter referred to as the PBOC). These Measures shall apply to the branch institutions, subsidiaries and holding institutions established abroad by the aforesaid financial institutions upon approval of the PBOC, as well as to the banking institutions established within China by other Chinese-funded institutions upon approval of the PBOC. The aforesaid institutions exclude the foreign-funded financial institutions established within China. Article 3. The term "senior managers of financial institutions" as mentioned in these Measures refers to the legal representatives of financial institutions, and the persons who have the business operation decision-making power or who can play an important role in controlling the risks thereof. Article 4. Any person to assume the post of a senior manager of a financial institution shall accept and pass the examination of the post-holding qualifications by PBOC. The examination and approval of the post-holding qualifications of senior managers of financial institutions shall be classified into the system of examination and approval as well as the system of archival filing. For the post of a senior manager to which the system of examination and approval applies, the candidate shall obtain the post-holding qualification approval document of the PBOC prior to the appointment. For the post of a senior manager to which the system of archival filing applies, a report shall, prior to the appointment, be submitted to the PBOC for archival purposes. Article 5. The PBOC's administration on the post-holding qualifications of the senior managers of financial institutions include the examination of post-holding qualifications, evaluation during the term of office, disqualification as well as the management of post-holding qualifications archives. CHAPTER II POST-HOLDING QUALIFICATIONS Article 6. The legal representative of a financial institution shall be a citizen of the People's Republic of China. Article 7. A senior manager of a financial institution shall meet the following conditions: (1) Being capable of correctly implementing the national economic and financial policies; (2) Being familiar with and observing the economic and financial laws and regulations; (3) Having professional knowledge and work experience which can meet the needs of the post; (4) Having the organization and management capabilities as well as the professional proficiency which can meet the needs of the post; and (5) Being impartial, honest, clean and upright. Article 8. Anyone to assume any of the following senior manager posts of a financial institution subject to the system of examination and approval shall meet the following conditions besides those as prescribed in Articles 6 and 7: (1) To assume the post of chairman or deputy chairman of the board of directors, or the post of president or deputy president of a policy bank, he shall have an educational background of university or higher, and 8 or more years of financial work experience or 15 or more years of economic work experience (including at least 3 years of financial work experience); To assume the post of general manager (director) of the business department of the headquarters, or the post of president or deputy president of a first-level branch, or the post of director or deputy director or chief representative of a domestic representative office or office, he shall have an educational background of university or higher, and 6 or more years of financial work experience, or 12 or more years of economic work experience (including at least 3 years of financial work experience); To assume the post of general manager (director) of a first-level business department, or the post of president or deputy president of a second-level branch, he shall have an educational background of college or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience); or To assume the post of president of a sub-branch, he shall have an educational background of senior high school or secondary technical school or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience); (2) To assume the post of chairman or deputy chairman of the board of directors, or the post of president or deputy president of a solely state-owned commercial bank, he shall have an educational background of university or higher, and 10 or more years of financial work experience, or 15 or more years of economic work experience (including at least 5 years of financial work experience); To assume the post of general manager, deputy general manager (director or deputy director) of the business department of the headquarters, or the post of president or deputy president of a first-level branch (including any direct subsidiary, below the same), he shall have an educational background of university or higher, and 8 or more years of financial work experience, or 12 or more years of economic work experience (including at least 5 years of financial work experience); To assume the post of general manager or deputy general manager of a business department of a first-level branch, or the post of president or deputy president of a second-level branch, he shall have an educational background of college or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 4 years of financial work experience); or To assume the post of the president of a branch, he shall have an educational background of senior high school or secondary technical school or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience). The range and conditions for the examination and approval of the post-holding qualifications of the senior managers of financial asset management companies shall be governed by the provisions on solely state-owned commercial banks; (3) To assume the post of chairman or deputy chairman of the board of directors, or chief supervisor, president or deputy president of a joint stock commercial bank or urban commercial bank, he shall have an educational background of university or higher, and 8 or more years of financial work experience, or 12 or more years of economic work experience (including at least 5 years of financial work experience); To assume the post of general manager of the business department of the headquarters of a joint stock commercial bank, or the post of president or deputy president of a branch, or the post of president of a sub-branch directly under the headquarters in any other place, he shall have an educational background of college or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 4 years of financial work experience); or To assume the post of president of any other sub-branch of a joint stock commercial bank, or the post of general manager of a business department or of president of a sub-branch of a urban commercial bank, he shall have an educational background of senior high school or secondary technical school or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience). The range and conditions for the examination and approval of the post-holding qualifications of the senior managers of housing savings banks shall be governed by the provisions on joint stock commercial banks; (4) To assume the post of chairman or deputy chairman of board of directors, chief supervisor, general manager or deputy general manager of a trust & investment company, enterprise group financial company or financial lease company, he shall have an educational background of university or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience). (5) To assume the post of director-general, deputy director-general, chief supervisor, director or deputy director of an urban or rural credit cooperative union of a city (prefecture), he shall have an educational background of college or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience); To assume the post of director-general, deputy director-general, director or deputy director of an urban or rural credit cooperative union of a county (city), he shall have an educational background of secondary technical school or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience); or To assume the post of director-general or director of an urban or rural credit cooperative union, he shall have an educational background of senior high school or secondary technical school or higher, and 6 or more years of financial work experience, or 9 or more years of economic work experience (including at least 3 years of financial work experience); (6) To assume the post of director or deputy director of board of directors, chief supervisor or president (general manager), deputy president (deputy general manager) dispatched by the Chinese party of an overseas Chinese-funded banking institution, he shall have an educational background of university or higher, and 8 or more years of financial work experience, or 12 or more years of economic work experience (including at least 5 years of financial work experience) and can master a foreign language suitable for the post to be assumed. To assume the general representative or chief representative of an overseas Chinese-funded banking institution, he shall have an education background of university or higher, and 6 years of financial work experience, or 9 or more years of economic work experience and can master a foreign language suitable for the post to be assumed; (7) The range and conditions for the examination and approval of the post-holding qualifications of other financial institutions shall be governed by the provisions on financial institutions of the same category. Article 9. Under the circumstance of real necessity, if a senior manager candidate of a financial institution who incompletely meets the conditions as described in Article 8 has the professional capabilities suitable for the post to be assumed, the PBOC may examine the case separately according to the concrete circumstances. Article 10. For the senior manager of financial institutions who are subject to the examination and approval of the post-holding qualifications of cadres administered by the Central Committee of the Communist Party of China or by the State Council, the PBOC shall work out separate provisions jointly with the relevant Central departments. For the chief supervisor candidate or deputy chief supervisor candidate dispatched by the state to the board of supervisors of a financial institution, his post-holding qualifications shall be determined according to the Interim Regulation on the Board of Supervisors of Important State-owned Financial Institutions. Article 11. Anyone to assume any of the following senior manager posts of a financial institution shall be subject to the system of archival filing: (1) The post of director, president assistant, chief auditor, chief accountant, or general manager of the credit or accounting or internal audit department of a policy bank or solely state-owned commercial bank, or the post of president assistant, chief auditor, chief accountant of a first-level branch, or the post of deputy president of a sub-branch, or the post of first person-in-charge of an institution under the level of sub-branch of a state-owned commercial bank. The archival filing range of senior managers of financial asset management companies shall be governed by solely state-owned commercial banks; (2) The post of deputy chief supervisor, director, president assistant, chief auditor, chief accountant, or general manager of the credit or accounting or internal audit department, or the deputy president of a sub-branch (including any sub-branch directly under the headquarters in any other place)of a joint stock commercial bank; or the post of deputy supervisor, director, or general manager of the credit or accounting or internal audit department, or deputy president of a sub-branch of an urban commercial bank. The scope of archival filing for the senior managers of housing savings banks shall be governed by the provisions on joint stock commercial banks; (3) The post of deputy chief supervisor of a trust & investment company, enterprise group financial company, financial lease company, or general manager (director or chief representative) of a branch (including any representative office); (4) The chief supervisor of urban or rural credit cooperative union of a county (city), deputy director-general or deputy director of an urban or rural credit cooperative union; (5) The deputy chief supervisor or director dispatched by the Chinese party of an overseas Chinese-funded banking institution; or (6) Other senior managers subject to archival filing as required by the PBOC. Besides the conditions as described in Article 7 of these Measures, the aforesaid senior managers shall satisfy the conditions as prescribed in Article 8 of these Measures. Article 12. Where a deputy person-in-charge of a financial institution or its branch is in the post of the person-in-charge of the financial institution or its branch for temporary management for more than 3 months, a report shall, according to the procedures and conditions for the examination and approval of the post-holding qualifications of the person-in-charge, be made to the PBOC for archival purposes. Article 13. Anyone who is under any of the following circumstances shall not assume the post of senior manager of any financial institution: (1) Having ever been given a criminal punishment due to committing a crime of corruption, bribery, encroachment or embezzlement of properties or disrupting economic order of the society, or being deprived of political rights due to committing a crime; (2) Having ever assumed the post of legal representative of any enterprise and being personally or directly liable for the revocation of the business license of this enterprise or for the bankruptcy liquidation of this enterprise due to poor business management; (3) Being personally or directly liable for any serious loss caused to the financial institution in which he assumed the post of any senior manager or caused to any other enterprise due to his work-related misconduct or due to an economic case; (4) Having any large amount of outstanding debt which is mature; (5) Providing false materials or committing any other deceitful act; (6) Gambling, abusing drugs, visiting prostitutes or committing any other act in violation of law or social moralities, and causing bad consequences; (7) Having been disqualified twice in accumulation for the post of senior manager of financial institution by the PBOC or by any other regulatory authority; or (8) Being banned from assuming the post of any senior manager of financial institution under any law or regulation. Article 14. Without approval of the competent organ of the state, no senior manager of any financial institution may, within his tenure, concurrently hold any post in any Party or government organ or post of senior manager in any other enterprise or in any public institution, or engage in any profit-making activities apart from his work. CHAPTER III EXAMINATION, APPROVAL OR MANAGEMENT OF POST-HOLDING QUALIFICATIONS Article 15. The PBOC and its branches and sub-branches shall, in a level-by-level manner, examine, approve and manage the post-holding qualifications of senior managers of financial institutions according to the financial regulatory responsibility system and report to the superior bank for archival purposes: (1) The headquarters of the PBOC shall be responsible for examining and approving or canceling the post-holding qualifications of senior managers of the following financial institutions: 1. Legal person institutions as policy banks; 2. Legal person institutions as solely sate-owned commercial banks; 3. Legal person institutions as financial asset management companies; 4. Legal person institutions as joint stock commercial banks; 5. Housing savings banks; 6. Non-banking financial institutions subject to the supervision and administration of the headquarters of the PBOC, such as trust & investment companies, enterprise group financial companies and financial lease companies; and 7. Overseas Chinese-funded banking financial institutions; (2) The branches and business management departments shall be responsible for examining and approving or canceling the post-holding qualifications of senior managers of the following financial institutions: 1. The first-level and second-level branch institutions of policy banks; 2. The first-level and second-level branch institutions of solely state-owned commercial banks; 3. The branch institutions of financial asset management companies; 4. The branches, business management departments of the headquarters, and sub-branches directly under the joint stock commercial banks; 5. The legal-person institutions as urban commercial banks; 6. The urban and rural credit cooperative unions of cities (prefectures); and 7. Non-banking financial institutions subject to the supervision and administration of the branches and business management departments of the PBOC, such as trust & investment companies, enterprise group financial companies and financial lease companies; (3) The central sub-branches of the PBOC shall be responsible for examining and approving or canceling the post-holding qualifications of senior managers of the following financial institutions: 1. Policy banks' branch institutions, which are inferior to their second-level branches; 2. Solely state-owned commercial banks' branch institutions, which are inferior to their second-level branches; 3. Joint stock commercial banks' branches institutions, which are inferior to their branches or sub-branches directly under the joint stock commercial banks; 4. Branch institutions of urban commercial banks; 5. Urban credit cooperatives and urban credit cooperative unions of counties (cities), rural credit cooperative unions of counties (cities); and 6. Other non-banking financial institutions subject to their supervision and administration. The central sub-branches shall be responsible for the preliminary examination of the post-holding qualifications of senior managers of legal person institutions as urban commercial banks and submit them to the branches of the PBOC for examination and approval, and shall be responsible for the preliminary examination of the post-holding qualifications of senior managers of urban or rural credit unions of cities (prefectures) and submit them to the branches of the PBOC for examination and approval; (4) The sub-branches of the PBOC shall be responsible for examining and approving or canceling the post-holding qualifications of senior managers of rural credit cooperatives, responsible for the preliminary examination of the post-holding qualifications of senior managers of urban credit cooperatives and urban cooperative unions of counties (cities) and report them to the central sub-branches for examination and approval. The PBOC shall be responsible for the examination and approval of the post-holding qualifications of senior managers of any newly established financial institution (including any branch institution). The post-holding qualifications of any senior manager who needs a separate examination as mentioned in Article 9 of these Measures shall be subject to the preliminary examination of the regulatory bank under the PBOC and then be submitted to the bank at the next higher level for examination and approval. Article 16. When a financial institution applies to the PBOC for the examination and approval of the post-holding qualifications of any senior manager subject to the system of examination and approval, the appointment institution shall directly submit the written application materials to the PBOC or its branch (sub-branch) (hereinafter referred to as the examination and approval bank), which is responsible for the examination and approval of post-holding qualifications. The application materials shall be in triplicate and include: (1) a request for instructions on the examination and approval of the post-holding qualifications of the candidate; (2) an application for post-holding qualifications; (uniformly printed and produced by the PBOC); (3) a comprehensive evaluation of the conduct, business capability, management capability and job performance of the candidate; (4) a photocopy of the identity certificate of the candidate; (5) a photocopy of the academic certificate and a photocopy of the professional technical certificate accredited by the state; and (6) other materials as required by the PBOC. All written materials as mentioned above shall be genuine and reliable. Where an application is subject to a preliminary examination, the appointment institution shall first submit the aforesaid written materials (in triplicate) to the branch institutions of the PBOC, which is responsible for the preliminary examination of the post-holding qualification. The bank responsible for the preliminary examination shall finish the preliminary examination as soon as possible and then submit the relevant materials to the examination and approval bank of the PBOC. Article 17. For a candidate subject to the system of examination and approval, the examination and approval bank of the PBOC shall, within 5 working days after it receives the application and other written materials, complete the examination of the completeness of the materials. If it fails to raise any objection within 5 days, the application materials shall be deemed complete. Having confirmed the completeness of the application materials and having obtained the feedback opinions from the relevant regulatory departments under Article 25 of these Measures, the examination and approval bank of the PBOC shall finish the examination and approval of the post-holding qualifications within 15 working days. For any candidate who fails to pass the examination of post-holding qualifications, the PBOC shall timely issue to the applicant institution a Notice of Veto on Post-holding Qualifications. Article 18. The PBOC may, where necessary, require a candidate subject to the system of examination and approval to take an examination, inspect him or interview him. The PBOC shall arrange corresponding personnel to interview the candidate subject to the system of examination and approval. Article 19. Where a financial institution intends to submit the post-holding qualifications of a senior manager subject to the system of archival filing, the appointment institution shall directly submit the written materials to the examination and approval bank of the PBOC for archival purposes. The archival materials shall be in triplicate and include: (1) a form of archival filing of post-holding qualifications (uniformly printed and produced by the PBOC); (2) a photocopy of the identity certificate of the candidate; (3) photocopies of academic certificate and professional technical certificate accredited by the state; and (4) other materials as required by the PBOC. Article 20. For a candidate subject to the system of archival filing, if the PBOC has to disapprove the post-holding qualifications of the candidate after it receives a complete set of materials for archival purposes, it shall issue a Notice of Veto on Post-holding Qualifications to the applicant institution within 10 working days. If the candidate is under any of the following circumstances, the examination and approval bank of the PBOC shall put a veto on his post-holding qualifications: (1) He does not meet the requirements as described in Article 7 of these Measures; or (2) He is under any of the circumstances as described in Article 13 of these Measures. Article 21. The decision of a financial institution about the appointment or removal of a senior manager shall be simultaneously copied and sent to the examination and approval bank and the regulatory bank of the PBOC. Article 22. Where a senior manager of a financial institution leaves his post, the institution superior to the institution in which he holds the post or the cadre administrative department shall conduct an audit on his leaving the post and make a comprehensive evaluation of this work performances. If the institution superior to the institution in which he holds the post or the cadre administrative department is unable to conduct an audit on his leaving the post, the financial institution shall hire an external auditor accredited by the PBOC to do so. The audit report on leaving the post shall cover an all-around, objective and genuine evaluation of the senior manager to leave his post. For a former senior manager who is to assume a new post, the applicant institution shall submit an audit report on his leaving the post when it submits the application materials. In the event that it is unable to submit such an audit report simultaneously for any work-related reason, it shall be subject to the approval of the PBOC. Article 23. An audit report on leaving the post shall at least cover: (1) the status quo of the business, of which he takes charge, including the asset quality and profit-making level, etc.; (2) the information about the compliance of the business, of which he takes charge; (3) the information about the internal control and risk management relating to the business, of which he takes charge; (4) the liabilities which he should bear for any serious economic or criminal case arises within the range of his duties; and (5) the audit conclusion. Article 24. With regard to the parallel transfer of posts of the same type and same nature among the institutions of the same level under a financial institution, if a senior manager of the financial institution subject to the system of examination and approval has already passed the examination of post-holding qualifications, his existing post-holding qualification shall remain valid and he is not required to subject to any new examination and approval. An audit report on his leaving his post shall be submitted after he is appointed to a new post, but he shall be reported to the PBOC for archival purposes. Under any of the following 3 circumstances, the existing post-holding qualifications of a senior manager shall be invalidated, the PBOC shall re-examine his post-holding qualifications: (1) The financial institution fails to submit an audit report on his leaving the post within 40 days after the candidate is appointed to a new post, and fails to make any explanation to the PBOC in advance; (2) The conclusion of the audit report on his leaving the post is not true; or (3) Upon audit on his leaving the post, the candidate audited is no longer proper to assume the post of senior manager of a financial institution under these Measures. Article 25. For a candidate who is to hold a post in a different sector or in a different region or who is to be promoted in the same sector and who is subject to examination and approval, when the examination and approval bank of the PBOC examines his post-holding qualifications, it may consult the regulatory department of the institution, in which the candidate formerly held a post, and the opinions on the conduct of the candidate, the said opinions shall, along with the application opinions of the financial institution, be regarded as the basis for the examination and approval of the post-holding qualifications. Article 26. The PBOC shall establish archives of post-holding qualifications of senior managers of financial institutions. The archives of post-holding qualifications shall include: (1) the application materials for the post-holding qualifications; (2) the relevant documents and materials which serve as the basis for the examination and approval of the PBOC; (3) the documents of the PBOC on disapproval or cancellation of the post-holding qualifications; (4) the financial institutions' decisions of sanction against senior managers; and (5) other important materials. Article 27. The PBOC shall establish special archives for the senior managers of financial institutions who have bad records, including: (1) those who are disqualified by the PBOC for the posts of senior managers; (2) those who are disqualified by China securities regulatory department or by China insurance regulatory department for the post of senior managers; (3) those whom the overseas regulatory authorities deem improper to assume the posts of senior management; (4) those who commit any act of serious violation of regulation or discipline; and (5) other financial practitioners who have other bad records and for whom the PBOC deems necessary to establish special archives. The contents of the archives shall include personal resume, photocopy of the identity certificate, relevant documents and materials and written bad record and other information. CHAPTER IV CANCELLATION OF POST-HOLDING QUALIFICATIONS Article 28. Where any senior manager of financial institution violates the Measures for the Punishment of Illegal Financial Acts or any other regulation, the PBOC has the power to cancel his post-holding qualifications for a certain period or even for his lifetime. For any senior manager of a financial institution who is given a sanction of removal from his post due to violating the Measures for the Punishment of Illegal Financial Acts, the PBOC shall cancel his post-holding qualifications of senior manager for a period of 5 years up to 10 years or even for his lifetime. For any senior manager of financial institution who is given a sanction of dismissal from the financial institution due to violating the Measures for the Punishment of Illegal Financial Acts or any other relevant regulation or provision, the PBOC will cancel his post-holding qualifications of senior manager for his lifetime. When any senior manager of a financial institution is recorded a special demerit, demoted, removed from his post, placed on probation within this financial institution or given a sanction of dismissal, a report shall simultaneously be submitted to the examination and approval bank and the regulatory bank of the PBOC for archival purposes. The PBOC may, in light of the seriousness of the circumstance, cancel his post-holding qualifications of senior manager for 1 up to 10 years or even for his lifetime. Article 29. Where any senior manager of a financial institution is personally or directly liable for any of the following circumstances, the PBOC may, in light of the seriousness of the circumstance and consequences, cancel his post-holding qualifications for 1 year up to 10 years or even for his lifetime: (1) Consecutive gross losses are caused because of his poor business management for a long term; (2) After the occurrence of any case of serious financial crime, he fails to timely report the case or take corresponding measures, or he interferes with or hampers the relevant departments¡¯ investigating or handling of the case rather than actively cooperate with them; (3) Any gross asset loss or any serious case of financial crime is caused because of the long-term unsound internal management and control system or due to the poor supervision; (4) He rejects, interferes with, obstructs or seriously affects the supervision of the PBOC; (5) The financial institution is taken over, merged or declared bankruptcy or triggers any regional or sector financial crisis because of its illegal business operation, imperfect internal control system or long-term poor business management; (6) He is subject to the criminal liabilities; and (7) Other circumstances under which the PBOC deems that his post-holding qualifications should be canceled. Article 30. For any senior manager who has assumed a new post of senior manager, if it is found that he committed any act of violation of any law, regulation or discipline during the his former term of office or that he is improper to assume the post of a senior manager of a financial institution due to any other circumstance, the PBOC may cancel his post-holding qualifications for a certain period or even for his lifetime. Article 31. For any senior manager of a financial institution whose post-holding qualifications are cancelled, the PBOC shall, in a proper form, make an announcement or circulate a notice within the banking sector. Article 32. After the PBOC decides to cancel the post-holding qualifications of a senior manager of a financial institution, if the said senior manger or the financial institution in which he holds the post of senior manager refuses to accept the decision, he or it may apply to the PBOC for administrative reconsideration. CHAPTER V SUPPLEMENTARY PROVISIONS Article 33. For a financial institution which is under any of the following circumstances in violation of these Measures, the PBOC may, in light of the seriousness of the circumstance, circulate a notice, and give it a punishment according to the Law of the People's Republic of China on Commercial Banks, Measures for the Punishment of Illegal Financial Acts and other relevant regulations: (1) Failing to apply to the PBOC for the examination and approval of post-holding qualifications according to the prescribed procedures; (2) Submitting any false application materials to the PBOC; (3) Failing to timely send to the PBOC a copy of decision of appointment or removal of any senior manager; (4) Failing to timely send to the PBOC a copy of the decision of disciplinary sanction against any senior manager; or (5) Any other circumstance in violation of these Measures. Article 34. If any relevant document or provision promulgated by the PBOC prior to the implementation of these Measures is contrary to these Measures, these Measures shall prevail. The Interim Administrative Provisions on the Post-holding Qualifications of Senior Managers of Financial Institutions promulgated in 1996 shall be abolished as of the date of promulgation of these Measures. Article 35. The branches and business management departments of the PBOC may formulate detailed implementation rules according to these Measures. Article 36. The power to interpret these Measures shall remain with the PBOC. Article 37. These Measures shall come into force as of the date of promulgation. |
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
Copyright 2002 NovexCn.com
|