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REPLY OF THE STATE ADMINISTRATION FOR INDUSTRY AND COMMERCE REGARDING AUCTION ENTERPRISES HOLDING INTER-REGIONAL AUCTIONS |
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(No.71 [2003] of the State Administration for Industry and Commerce June 4, 2003) |
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SUBJECT : AUCTION; INTER-REGIONAL AUCTIONS |
ISSUING DEPARTMENT : STATE ADMINISTRATION FOR INDUSTRY AND COMMERCE OF THE PEOPLE'S REPUBLIC OF CHINA |
ISSUE DATE : 06/04/2003 |
IMPLEMENT DATE : 06/04/2003 |
LENGTH : 133 words |
TEXT : |
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Regarding Request for Instruction on Whether An Auction Enterprise Can Carry Out Just-Once Inter-regional Auctions (No. 21[2003] of the Administration for Industry and Commerce of Jiangsu Province), we hereby make the following reply upon deliberation.
The auction enterprise can hold auctions within its legally approved scope of business, and hold auctions outside the region where it is located, which will be regarded as the normal business operation of the enterprise. No registration for the branch of the enterprise is needed unless it establishes a standing operational body. The enterprise that holds an auction should put on records to the administration for industry and commerce of the place where the auction is held according to the Interim Measures on the Supervision and Administration of Auctions (No.101 of the State Administration for Industry and Commerce).
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