Department of Public Offering Supervision of the China Securities Regulatory Commission, Further Improving the Implementation of the «Sponsorship System for Offering and Listing of Securities Tentative Procedures» Circular

Issued: December 31 2004

Main content: Starting from January 1 2005, the China Securities Regulatory Commission (CSRC) will not, prior to the issuance of securities by issuers for which a sponsor representative is specifically responsible for such recommendations, accept to handle applications for the issuance of securities by other issuers for which the same sponsor representative is specifically responsible (Item One). "Investment banking business experience" referred to in Article 11 (1) of the Sponsorship System for Offering and Listing of Securities Tentative Procedures (Procedures) means having experience in investment banking business for three years or above, and having assumed the post of project manager for at least one domestic or foreign securities issuance project that was completed within the past year (Item Two). "Investment banking business experience" referred to in Article 17(2) of the Procedures means continuing engagement in investment banking business, specific participation in project works, and participation in business training for sponsor representatives organized by the Securities Association of China or other institutions approved by the CSRC every year (Item Three).
Related legislation: Sponsorship System for Offering and Listing of Securities Tentative Procedures, Dec 28 2004, CLP 2004 No.3 p65
Repealed legislation: Articles 2 and 3 of the China Securities Regulatory Commission, Matters Relevant to the Implementation of the «Sponsorship System for Offering and Listing of Securities Tentative Procedures»Circular, Jan 2 2004, CLP 2004 No.3 p7