China Securities Regulatory Commission, Proper Implementation of the Follow-up Regulation and Continuing Work after the Third Batch of Items in respect of which the Administrative Examination and Approval Requirements were Abolished Circular

Issued: June 22 2004

Main contents: The Circular lists the follow-up regulation and continuing work after the third batch of items in respect of which the administrative examination and approval requirements were abolished. For example, the follow-up regulation and continuing work for the items mentioned in the previous digest are:
1. the issuer is allowed to select from the specified methods for issue of shares and submit the same to the China Securities Regulatory Commission (CSRC) as one of the application documents;
2. the CSRC shall request the China Securities Depositary and Clearing Corporation Limited to formulate bank qualification standards for settlement including A shares and B shares;
3. relevant proving documents for cancellation of representative offices of foreign securities institutions in China shall be submitted to the CSRC within three working days;
4. the Shanghai and Shenzhen Stock Exchanges shall assume the record filing work and handle it in accordance with relevant provisions;
5. after the company listed outside China has completed the repurchase of shares, it shall submit a written report to the CSRC within 15 working days; and
6. the CSRC will no longer approve the establishment of branches of futures brokerages.
Related legislation: State Council, The Third Batch of Items in Respect of which the Administrative Examination and Approval Requirements are Abolished or Adjusted Decision, May 19 2004