Legislation roundup: Telecommunications, environmental protection and material asset restructurings
June 08, 2019 | BY
Susan Mok5th generation telecom services are added to the telecom catalogue, consultations are conducted before instituting an environmental legal action and listed companies are required to fully disclose material asset restructuring performance.
Telecommunications
Ministry of Industry and Information Technology Announcement on Revising the <Classified Catalogue of Telecommunications Services (2015 Edition)>
The Catalogue adds the service sub-category "A12-4 fifth generation digital cellular mobile telecommunications services" under "A12 cellular mobile telecommunications services" in category A "Basic Telecommunications Services". The specific description of the service is as follows: "the term 'fifth generation digital cellular mobile telecommunications services' means the provision of services such as voice, data and multimedia communication by using a fifth generation digital cellular mobile telecommunications network".
See the digest for more details.
Further reading
Environmental Protection
Supreme People's Court, Provisions for the Trial of Cases Involving Ecological and Environmental Damages (Trial Implementation)
The provincial-level, municipal-level or prefectural-level people's government, the relevant department or agency designated by it or the department appointed by the State Council to exercise ownership of natural resource assets owned by the people may serve as the plaintiff in instituting a legal action for ecological or environmental damages if a consensus cannot be reached through consultations with the natural person, legal person or other organization that caused serious ecological or environmental damage or the conduct of such consultations is not possible.
Further reading
Capital Markets
Shenzhen Stock Exchange, Guidelines for the Disclosure of Information by Listed Companies, No.3: Material Asset Restructurings
The Guidelines require a listed company to fully disclose information on the performance of the undertakings given in respect of the restructuring performance, goodwill impairment test, the difference between the actual earnings number and the forecast profit number for the target assets, etc., and the independent financial advisor is required to issue ongoing guidance opinions.
Further reading
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