China Securities Regulatory Commission, Contents and Formats for Information Disclosures by Companies That Offer Securities to the Public Guidelines (No.1): Prospectuses (Revised in 2003)

Issued: March 24 2003
Effective: as of date of issue
Interpreting authority: China Securities Regulatory Commission (CSRC)

Main contents: The valid period of a prospectus has been extended from three months to six months (Article 9). A phrase has been added to Article 10 stating that when necessary an issuer's application for initial public offering shall be re-verified and re-approved by the CSRC if the prospectus and the summary thereof is amended after such IPO has already been approved by the CSRC. Article 13 is newly added specifying the requirements for formulation and disclosure of the summary of a prospectus. Article 26 is extended to state the responsibilities of relevant responsible persons of a company and relevant responsible accounting persons to ensure the truthfulness and completeness of a prospectus and the summary thereof.
Related legislation: PRC Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p21 and PRC Securities Law (Amended), Oct 27 2005, CLP 2006 No.1 p31