Ministry of Commerce, Tentative Provisions for the Implementation of Asset or Business Divestitures of Concentrations of Business Operators
商务部关于实施经营者集中资产或业务剥离的暂行规定
September 04, 2010 | BY
clpstaff &clp articles &Mofcom lays down specific rules for the divestiture remedy for anti-monopoly restrictions.
Promulgated: July 5 2010
Effective: as of date of promulgation
Applicability: For the purposes of these Provisions, the term “asset or business divestiture” means the divestiture, pursuant to the review decision on a concentration of business operators (Review Decision) rendered by the Ministry of Commerce, of part of the assets or business of a business operator involved in the concentration that bears the obligation of divesting assets or business (the Divestiture Obligor) and related acts (Divestiture).
That part of the assets or business of a Divestiture Obligor that are divested are known as the “Divestment Business” (Article 2).
Main contents: The Provisions require a Divestiture Obligor to transfer the Divestment Business to the purchaser and complete all the relevant legal procedures, such as those for the transfer of title, within three months from the date of execution of the sale agreement and other related agreements.
Related legislation: Measures for the Review for Concentrations of Business Operators, Nov 24 2009, CLP 2010 No.1 p.52
clp reference:5000/10.07.05prc reference:商务部公告 [2010] 第41号promulgated:2010-07-05effective:2010-07-05
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