State Administration for Industry and Commerce, Measures for the Regulation of Auctions (Revised)
国家工商行政管理总局拍卖监督管理办法 (修订)
February 28, 2013 | BY
clpstaff &clp articles &Administrative measures on auctions relaxed.
Promulgated: January 5 2013
Effective: March 1 2013
Main contents: Auction houses that organise auction activities shall file a record with the administration for industry and commerce of the place where the auction is to take place before the auction day. The previous requirement of filing a record within the seven days before the auction day has been removed. Auction houses shall, within seven days of the conclusion of the auction, submit the name list of bidders, a list of transactions, as well as the complete audio and visual recordings of the auction or the auction transcript signed by the parties in confirmation to the administration for industry and commerce of the place where the auction was held for record filing (Article 5).
Administrations for industry and commerce shall preserve the record filing materials from the auction houses for at least five years (Article 6)
In Article 12 of the revised Measures on the prohibition of malicious collusion between bidders and auction houses, the act of “disposing of the subject matter of the auction by means other than the auction bidding procedures” as stipulated in the Tentative Measures for the Regulation of Auctions has been removed.
Related legislation: PRC Auction Law (Revised), Aug 28 2004
clp reference:3310/13.01.05promulgated:2013-01-05effective:2013-03-01This premium content is reserved for
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