China Banking Regulatory Commission, Guidelines for the Project Financing Business
中国银行业监督管理委员会项目融资业务指引
September 04, 2009 | BY
clpstaff &clp articles &Special measures provided for risk control of project finance.
Issued: July 18 2009
Effective: three months from the date of issuance
Interpreting authority: China Banking Regulatory Commission
Main contents: A lender shall require project assets and/or anticipated project returns and other such rights that satisfy mortgage/pledge conditions be used as security for the loan and may, as required, require the provision of security in the form of a pledge of the equity of the project company held by the project promoter.
A lender shall require that it be the party with first priority in filing for insurance proceeds under the commercial insurance taken out for the project, or take other measures to effectively control the rights and interests in insurance compensation (Article 11).
Related legislation: PRC Banking Regulation Law; PRC Commercial Banking Law; and Tentative Measures for the Administration of Loans for Fixed Assets, Jul 23 2009, CLP 2009 No.7 p.42
clp reference:3510/09.07.18promulgated:2009-07-18effective:2009-10-18This premium content is reserved for
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