2. If the applicant's application materials are complete and conform to the statutory form, the Administration for Industry and Commerce will make a decision on whether to approve the registration on the spot and issue a notice of registration decision; If it is necessary to verify the substantive contents of the application materials, it shall issue a Notice on Matters Needing Verification of Enterprise Registration Materials, and the Administration for Industry and Commerce must make a decision on approval or disapproval within 10 working days.
3. After five working days, the Administration for Industry and Commerce may reissue the Notice of Approval of Change Registration at the issuing window with the Notice of Registration Decision.
Legal basis: Article 71 of the Company Law of People's Republic of China (PRC). Shareholders of a limited liability company may transfer all or part of their shares to each other. Shareholders' transfer of equity to persons other than shareholders shall be approved by more than half of other shareholders. Shareholders shall notify other shareholders in writing to agree to the transfer of their shares. If other shareholders fail to reply within 30 days from the date of receiving the written notice, they shall be deemed to have agreed to the transfer.