China Securities Regulatory Commission, Establishment of Independent Director Systems by Listed Companies Guiding Opinion

中国证券监督管理委员会关于在上市公司建立独立董事制度的指导意见

October 02, 2001 | BY

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Issued: August 16 2001Main contents: The Opinion suggests that listed companies should establish independent director systems, fully exploit the advantage…

Clp Reference: 2330/01.08.16 Promulgated: 2001-08-16

Issued: August 16 2001

Main contents: The Opinion suggests that listed companies should establish independent director systems, fully exploit the advantage of having independent directors and provide the necessary conditions to ensure that the independent directors can effectively exercise their functions and powers. It states that an independent director must be independent, and should have the qualifications required to exercise his functions and powers as such and express independent opinions on material matters of the listed company. The Opinion requires that the nomination, election and replacement of independent directors be conducted in a legal and standardized manner.
Related legislation: PRC, Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p.21

clp reference:2330/01.08.16promulgated:2001-08-16

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