China Insurance Regulatory Commission, Provisions on the Administrative Penalty Procedure

中国保险监督管理委员会行政处罚程序规定

July 14, 2010 | BY

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Market access prohibition is now an administrative penalty for the insurance industry.

Clp Reference: 3900/10.04.27 Promulgated: 2010-04-27 Effective: 2010-05-28

Promulgated: April 27 2010
Effective: May 28 2010
Interpreting authority: China Insurance Regulatory Commission (CIRC)


Main contents: If a party violates the laws or administrative regulations relevant to insurance administration or CIRC provisions, the CIRC and its agencies may impose the following administrative penalties:


(1) revocation of employment or professional qualifications or the qualification certificate; and


(2) prohibition of entry into the insurance industry (Article 2).


Related legislation: PRC Administrative Penalty Law, Mar 17 1996, CLP 1996 No.4 p.4; and PRC Insurance Law (Amended), Feb 28 2009, CLP 2009 No.3 p.35


Repealed legislation: China Insurance Regulatory Commission, Provisions on the Administrative Penalty Procedure, Nov 8 2005

clp reference:3900/10.04.27promulgated:2010-04-27effective:2010-05-28

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