Legislation roundup: Debt-for-equity swaps, environmental protection, and residential property
August 14, 2017 | BY
Katherine Jo &clp articles &The CBRC has permitted banks to set up institutions that carry out debt-for-equity swaps, the State Council has made environmental impact assessment procedures simpler for construction projects, and Beijing has launched joint government and buyer-owned housing
Banking
China Banking Regulatory Commission, Measures for the Administration of the Establishment by Commercial Banks of New Institutions that Carry out the Conversion of Debt to Equity (Trial Implementation) (Draft for Comments)
An institution that carries out the conversion of debt to equity shall have a commercial bank registered and established in China as its principal investor, whose capital contribution shall account for not less than 50% of the total share capital of the proposed institution. The minimum registered capital of such institution shall be Rmb10 billion.
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Further reading
Environmental Protection
State Council, Regulations for the Administration of Environmental Protection in Connection with Construction Projects (Revised)
According to the revised Regulations, environmental impact registration forms will be subject to the record filing system rather than the examination and approval system.
The timing for submission of the environmental impact report and report form is changed from the feasibility study stage to prior to the commencement of construction.
See the digest for more details.
Further reading
Real Property
Beijing Municipality, Tentative Measures for the Administration of Residential Premises the Title to Which is Jointly Owned
Beijing launches policy commercially developed residential premises the title to which is jointly owned by the government and the buyer in proportion to their respective shares thereof. Buyers may transfer their shares of the title to the residential premises after five years.
See the digest for more details.
Further reading
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