Ministry of Finance, Measures for the Administration of the Transfer of State-owned Assets of Financial Enterprises

财政部金融企业国有资产转让管理办法

May 09, 2009 | BY

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Transfers of state-owned assets of unlisted financial institutions must be done publicly.

Clp Reference: 2140/09.03.17 Promulgated: 2009-03-17 Effective: 2009-05-01

Issued: March 17 2009
Effective: May 1 2009

Applicability: For the purposes of these Measures, the term “state-owned assets of financial enterprises” means the rights and interests engendered by capital contributions made in various forms to financial enterprises by people's governments at every level and by their authorised investment entities.

For the purposes of these Measures, the term “financial enterprises” includes all enterprises and financial holding (group) companies that have obtained a finance business permit (Article 2).

Transfers of state-owned assets of financial enterprises include transfers of state-owned assets and equity of unlisted enterprises and transfers of state-owned shares of listed companies (Article 5).

Main Contents: Transfers of state-owned assets and equity of unlisted enterprises shall be publicly carried out through lawfully-established assets and equity exchanges at the provincial level and above (Article 11). Transfers of state-owned shares of listed financial enterprises and transfers by financial enterprises of state-owned shares of listed companies shall be effected through a lawfully-established securities trading system (Article 28).

Subject to the approval of the State Council or the Ministry of Finance, a transferor may transfer state-owned assets and equity of an unlisted enterprise or state-owned shares of a listed company directly by way of an agreement if:

(1) relevant state provisions have special requirements in respect of the Transferee;

(2) a holding (group) company is carrying out an internal asset reorganisation; or

(3) there is another special reason (Article 35).

clp reference:2140/09.03.17prc reference:财政部令第54号promulgated:2009-03-17effective:2009-05-01

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