Measures for the Administration of the Registration of Debt-for-equity Swaps of Companies
公司债权转股权登记管理办法
A debt-for-equity swap shall be subject to a capital verification by a lawfully-established capital verification institution.
(Promulgated by the State Administration for Industry and Commerce on November 23 2011 and effective as of January 1 2012.)
(国家工商行政管理总局于二零一一年十一月二十三日公布，自二零一二年一月一日起施行。)
Order of the SAIC No.57
工商总局令第57号
Article 1: These Measures have been formulated pursuant to laws and administrative regulations such as the Company Law and the Regulations for the Administration of Company Registration in order to regulate the administration of the registration of debt-for-equity swaps of companies.
第一条 为规范公司债权转股权登记管理，根据《公司法》、《公司登记管理条例》等法律、行政法规的规定，制定本办法。
Article 2: For the purposes of these Measures, the term “debt-for-equity swap” means the act whereby a creditor converts a lawful claim that it has against a limited liability company or a company limited by shares established in China (a Company) into equity of such Company thereby increasing the registered capital of such Company.
第二条 本办法所称债权转股权，是指债权人以其依法享有的对在中国境内设立的有限责任公司或者股份有限公司（以下统称公司）的债权，转为公司股权，增加公司注册资本的行为。
Article 3: These Measures shall govern the administration of the registration of a debt-for-equity swap if:
第三条 债权转股权的登记管理，属于下列情形之一的，适用本办法：
(1) in the course of the operation of the Company, the contract debt arising between a creditor and the Company is transformed into equity in the Company, the creditor has performed the contractual obligations corresponding to the claim and the same does not violate laws, administrative regulations, State Council decisions or prohibitory provisions of the Company's articles of association;
（一）公司经营中债权人与公司之间产生的合同之债转为公司股权，债权人已经履行债权所对应的合同义务，且不违反法律、行政法规、国务院决定或者公司章程的禁止性规定；
(2) a claim confirmed in an effective ruling or judgment of a people's court is converted into equity of the Company; or
（二）人民法院生效裁判确认的债权转为公司股权；
(3) during the bankruptcy and restructuring of the Company or during conciliation efforts, the claim included in the restructuring plan approved by the people's court or the settlement agreement approved in a ruling of the people's court is converted into equity of the Company.
（三）公司破产重整或者和解期间，列入经人民法院批准的重整计划或者裁定认可的和解协议的债权转为公司股权。
Article 4: If there are two or more creditors of a claim that is to be converted into equity, the creditors shall have divided the claim.
第四条 用以转为股权的债权有两个以上债权人的，债权人对债权应当已经作出分割。
Article 5: If laws, administrative regulations or a State Council decision specifies that a debt-for-equity swap is subject to approval, such approval shall be secured in accordance with the law.
第五条 法律、行政法规或者国务院决定规定债权转股权须经批准的，应当依法经过批准。
Article 6: The total of the valuation of a capital contribution made in the form of a debt-for-equity swap and the valuations of other capital contributions made in the form of non-monetary property may not be greater than 70% of the Company's registered capital.
第六条 债权转股权作价出资金额与其他非货币财产作价出资金额之和，不得高于公司注册资本的百分之七十。
Article 7: A claim that is to be converted into equity shall be appraised by a lawfully-established asset appraisal institution.
第七条 用以转为股权的债权，应当经依法设立的资产评估机构评估。
The valuation of a capital contribution to be made in the form of a debt-for-equity swap may not be greater than the appraised value of the claim.
债权转股权的作价出资金额不得高于该债权的评估值。
Article 8: A debt-for-equity swap shall be subject to a capital verification by a lawfully-established capital verification institution, which shall issue a capital verification certificate therefor.
第八条 债权转股权应当经依法设立的验资机构验资并出具验资证明。
A capital verification certificate shall include the following information:
验资证明应当包括下列内容：
(1) the basic particulars of the claim, including the date on which the claim arose and the reason therefor, the names of the parties to the contract, the subject matter of the contract and details of the performance of the obligations corresponding to the claim;
（一）债权的基本情况，包括债权发生时间及原因、合同当事人姓名或者名称、合同标的、债权对应义务的履行情况；
(2) the details of the appraisal of the claim, including the name of the appraisal institution, the number of the appraisal report, the appraisal reference date and the appraised value;
（二）债权的评估情况，包括评估机构的名称、评估报告的文号、评估基准日、评估值；
(3) the details of the completion of the debt-for-equity swap, including the executed debt-for-equity swap agreement, the creditor's discharging of the Company from the corresponding debt and the Company's relevant accounting treatment; and
（三）债权转股权的完成情况，包括已签订债权转股权协议、债权人免除公司对应债务、公司相关会计处理；
(4) if, in accordance with the law, the debt-for-equity swap is subject to approval, details of the approval.
（四）债权转股权依法须报经批准的，其批准的情况。
Article 9: When a debt-for-equity swap is effected, the Company shall apply to the company registry in accordance with the law to carry out the procedures for the change of registration of registered capital and paid-in capital. If changes in other registered particulars of the Company are involved, the Company shall also carry out the procedures for change of such registration.
第九条 债权转为股权的，公司应当依法向公司登记机关申请办理注册资本和实收资本变更登记。涉及公司其他登记事项变更的，公司应当一并申请办理变更登记。
Article 10: When a Company applies for change of registration, it shall, in addition to acting in accordance with the Regulations for the Administration of Company Registration and the provisions of the State Administration for Industry and Commerce on the materials to be submitted for enterprise registration, submit the following materials, as the case may be;
第十条 公司申请变更登记，除按照《公司登记管理条例》和国家工商行政管理总局有关企业登记提交材料的规定执行外，还应当分别提交以下材料：
(1) in the circumstance specified in Item (1) of Article 3 hereof, the debt-for-equity swap undertaking executed by the creditor and the Company under which the parties undertake that the claim to be converted into equity complies with said provision;
（一）属于本办法第三条第（一）项规定情形的，提交债权人和公司签署的债权转股权承诺书，双方应当对用以转为股权的债权符合该项规定作出承诺；
(2) in the circumstance specified in Item (2) of Article 3 hereof, the judgment or ruling of the people's court; or
（二）属于本办法第三条第（二）项规定情形的，提交人民法院的裁判文书；
(3) in the circumstance specified in Item (3) of Article 3 hereof, the restructuring plan approved by the people's court or the settlement agreement approved in the ruling by the people's court.
（三）属于本办法第三条第（三）项规定情形的，提交经人民法院批准的重整计划或者裁定认可的和解协议。
The resolution of the shareholders' (general) meeting submitted by the Company shall confirm the valuated amount of the capital contribution made in the form of the claim and comply with the Company Law and the Company's articles of association.
公司提交的股东（大）会决议应当确认债权作价出资金额并符合《公司法》和公司章程的规定。
Article 11: When a capital contribution is made in the form of a debt-for-equity swap, the company registry shall register the method of such capital contribution as a “capital contribution in the form of a debt-for-equity swap”.
第十一条 公司登记机关应当将债权转股权对应出资的出资方式登记为“债权转股权出资”。
Article 12: If a company registry and its working personnel violate a law or regulations in the course of registering a debt-for-equity swap, the liability of the supervisor directly in charge and other responsible personnel shall be pursued in accordance with relevant provisions.
第十二条 公司登记机关及其工作人员办理债权转股权登记违反法律法规规定的，对直接负责的主管人员和其他责任人员，依照有关规定追究责任。
Article 13: If a creditor, Company, appraisal institution or capital verification institution violates the Company Law, the Regulations for the Administration of Company Registration or these Measures, the company registry shall impose penalties in accordance with relevant provisions such as the Company Law and the Regulations for the Administration of Company Registration.
第十三条 债权人、公司以及承担评估、验资的机构违反《公司法》、《公司登记管理条例》以及本办法规定的，公司登记机关依照《公司法》、《公司登记管理条例》等有关规定处罚。
Article 14: The company registry shall, in accordance with the law, make company registration information relating to a debt-for-equity swap accessible to the public.
第十四条 债权转股权的公司登记信息，公司登记机关依法予以公开。
Article 15: The company registry shall publicly announce the results of the administrative penalties imposed for the following violations of the law:
第十五条 对下列违法行为的行政处罚结果，公司登记机关应当向社会公开：
(1) a violation by a creditor or Company relating to the registration of a debt-for-equity swap; or
（一）债权人、公司债权转股权登记的违法行为；
(2) a violation by an appraisal institution or capital verification institution relating to the registration of a debt-for-equity swap.
（二）承担评估、验资的机构因债权转股权登记的违法行为。
The company registry shall publicly announce the list of appraisal institutions and capital verification institutions mentioned in the preceding paragraph that have been subjected to administrative penalties.
前款受到行政处罚的承担评估、验资的机构名单，公司登记机关予以公示。
Article 16: An administration for industry and commerce shall promptly make a record of a creditor, Company, capital verification institution or appraisal institution, etc. involved in a violation of the law relating to a debt-for-equity swap and subject it to oversight differentiated based on corporate integrity.
第十六条 对涉及债权转股权违法行为的债权人、公司以及承担验资、评估的机构等，工商行政管理机关应当及时予以记录，实施企业信用分类监管。
Article 17: In the event that a law, administrative regulations or State Council decision provides otherwise in respect of a matter specified herein, such provisions shall prevail.
第十七条 本办法规定事项，法律、行政法规或者国务院决定另有规定的，从其规定。
Article 18: If an enterprise legal person organised in a form other than a company is converted into a Company and carries out the change of registration, and a debt-for-equity swap is involved, matters shall be handled with reference to these Measures. If administration of state-owned assets is involved, matters shall be handled in accordance with relevant provisions.
第十八条 非公司企业法人改制为公司办理变更登记，涉及债权转为股权的，参照本办法执行。涉及国有资产管理的，按照有关规定办理。
Article 19: These Measures shall be effective as of January 1 2012.
clp reference:2330/11.11.23prc reference:工商总局令第57号promulgated:2011-11-23effective:2012-01-01第十九条 本办法自2012年1月1日起实施。
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