Ministry of Finance, Measures for the Examination, Approval and Regulation of Asset Valuation Firms

财政部资产评估机构审批和监督管理办法

October 12, 2011 | BY

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Asset valuation firms in the form of special general partnerships allowed.

Clp Reference: 3300/11.09.01 Promulgated: 2011-09-01 Effective: 2011-10-01

Promulgated: September 1 2011

Effective: October 1 2011

Main contents: The scope of business of asset valuation firms covers the valuation of single assets, valuation of asset portfolios, valuation of enterprise value and other asset valuations, as well as the related consultancy services (Article 5).

To establish a partnership asset valuation firm, the following criteria shall be fulfilled:

(i) having two or more partners that fulfil the requirements specified in these Measures;

(ii) having five or more certified public valuers; and

(iii) the total amount of capital contribution actually paid in by the partners being at least Rmb100,000, or at least Rmb300,000 if the firm is established in the form of a special general partnership (Article 11).

To establish an asset valuation firm in the form of a company, the following criteria shall be fulfilled:

(i) having two or more shareholders that fulfil the requirements specified in these Measures;

(ii) having eight or more certified public valuers; and

(iii) having a registered capital of at least Rmb300,000 (Article 12).

Partners and shareholders of asset valuation firms shall:

(i) have obtained a certified public valuer certificate;

(ii) have been engaged in the asset valuation business full-time for the most recent three consecutive years after obtaining the certified public valuer certificate; and

(iii) have not been subjected to an industry self-regulation sanction or administrative penalty due to his valuation practice within the three years prior to becoming a partner or shareholder (Article 13).

Repealed legislation: Measures for the Administration of the Examination and Approval of Asset Valuation Institutions, May 11 2005

clp reference:3300/11.09.01promulgated:2011-09-01effective:2011-10-01

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