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	MEASURES FOR THE ADMINISTRATION OF FINANCE COMPANIES OF ENTERPRISE GROUPS (REVISION)

	(Order of China Banking Regulatory Commission (No.8 [2006]), December 28th, 2006: The Decision of China Banking Regulatory Commission on Amending the Measures for the Administration of Finance Companies of Enterprise Groups, which were adopted at the 55th chairmen's meeting of China Banking Regulatory Commission on December 28th, 2006, are hereby promulgated and shall come into force as of the date of its promulgation.)


SUBJECT : FINANCE COMPANIES OF ENTERPRISE GROUPS
ISSUING DEPARTMENT : CHINA BANKING REGULATORY COMMISSION
ISSUE DATE : 12/28/2006
IMPLEMENT DATE : 12/28/2006
LENGTH : 154 words
TEXT :

China Banking Regulatory Commission decided to amend the Measures for the Administration of Finance Companies of Enterprise Groups as follows:

Article 11, Paragraph 2, of the Measures for the Administration of Finance Companies of Enterprise Groups, which provides:

"The term 'qualified institutional investor' mentioned in this Article means an external strategic investor who will not transfer within 5 years in principle the finance company's shares he holds and who has rich management experiences in this industry."

shall be amended as:

¡°The term 'qualified institutional investor' mentioned in this Article means a strategic investor who will not transfer within 3 years in principle the finance company's shares he holds and who has rich management experiences in this industry."

This Decision shall come into force as of the date of its promulgation.

The Measures for the Administration of Finance Companies of Enterprise Groups shall be amended in accordance with this Decision, and be re-promulgated.