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	NOTICE OF THE STATE ADMINISTRATION FOR INDUSTRY AND COMMERCE CONCERNING DISPUTES OVER STOCK EQUITY OF FOREIGN-FUNDED ENTERPRISES

	(No.38 [2002] of the State Administration for Industry and Commerce promulgated on February 20, 2002)


SUBJECT : FOREIGN-FUNDED ENTERPRISES; DISPUTES OVER STOCK EQUITY
ISSUING DEPARTMENT : STATE ADMINISTRATION FOR INDUSTRY AND COMMERCE
ISSUE DATE : 02/20/2002
IMPLEMENT DATE : 02/20/2002
LENGTH : 174 words
TEXT :

Recently, the State Administration for Industry and Commerce has continually received complaints and reports on disputes over stock equity of foreign-funded enterprises. The opinions on handling the relevant issues are hereby put forward as follows:

I. Based on the existing laws and regulations, a foreign-funded enterprise shall be confirmed according to the status of its investors, source of fund, the proportion of the foreign fund and the industry policies, and shall be established according to legal procedures.

II. Where a dispute over the investment ownership of foreign-funded enterprise arises between the relevant parties and reconfirmation is needed, the legal procedures for examination and approval and the legal procedures for examination and approval for alteration shall be gone through, according to the actual contribution of investment and upon the unanimous agreement of the parties or after the judicial or arbitration organs confirm the ownership according to law.

III. The relevant parties that provide false documents and cheat to obtain the registration during the process of examination, approval and registration shall bear the corresponding legal liabilities.