Interim Measures for the Administration of Property Right Registration of State-funded Enterprises

Chapter I General Provisions Article 1 These Measures are formulated in accordance with the Law of People's Republic of China (PRC) on State-owned Assets of Enterprises, the Provisional Regulations on Supervision and Administration of State-owned Assets of Enterprises (the State Council Order No.378) and other laws and administrative regulations in order to strengthen the management of property rights registration of state-funded enterprises and reflect the property rights of enterprises in a timely, true, dynamic and comprehensive manner. Article 2 The term "property rights registration of state-funded enterprises" as mentioned in these Measures refers to the act of the state-owned assets supervision and administration institution to register and manage the property rights and distribution of state-funded enterprises authorized by the people's government at the corresponding level. Article 3 State-funded enterprises, state-funded enterprises (excluding state-owned capital joint-stock companies), domestic and foreign enterprises at all levels and joint-stock enterprises with actual control rights invested by them (hereinafter referred to as enterprises) are all included in the scope of property right registration. Institutions owned by state-funded enterprises are regarded as their subsidiaries for property rights registration.

The term "actual control" as mentioned in the preceding paragraph refers to the situation that the state-funded enterprise directly or indirectly holds more than 50% of the total shares, or is the largest shareholder although the shareholding ratio does not exceed 50%, and can actually control the behavior of the enterprise through shareholder agreement, articles of association, resolutions of the board of directors or other arrangements. Article 4 Investors mentioned in these Measures are divided into the following five categories:

(a) institutions that perform the responsibilities of investors;

(2) Institutions, wholly state-owned enterprises and enterprises independently or jointly established by wholly state-owned companies that perform the responsibilities of investors;

(3) Enterprises in which the above two types of investors directly or indirectly hold more than 50% but less than 100%;

(4) The total shareholding ratio of the above-mentioned three types of investors directly or indirectly does not exceed 50%, but they are the largest shareholders, and they can actually control the enterprise behavior through shareholders' agreements, articles of association, resolutions of the board of directors or other agreements;

(5) Enterprises, natural persons or other economic organizations other than the above four types of investors.

The above-mentioned investors in categories (2), (3) and (4) are collectively referred to as enterprises that perform the responsibilities of investors. Article 5 The following shares held by an enterprise for trading purposes shall not be registered:

(a) to buy shares of listed companies from the secondary market and earn the difference;

(2) Other shares held for sale in the near future (within one year). Article 6 An enterprise shall have clear ownership when registering property rights. Enterprises with property rights disputes should apply for property rights registration after timely handling property rights disputes. Seventh state-owned assets supervision and administration institutions at all levels are responsible for the registration and management of property rights of state-funded enterprises authorized by the people's government at the corresponding level. The state-owned assets supervision and administration institution of the State Council shall guide and supervise the property right registration of local state-owned assets supervision and administration institutions. Article 8 State-funded enterprises shall be responsible for managing the registration of property rights of enterprises that perform the responsibilities of investors, and apply to the state-owned assets supervision and administration institution for the registration of enterprise property rights. Ninth state-owned assets supervision and administration institutions at all levels and state-funded enterprises shall regularly summarize and analyze the data of property rights registration.

The provincial state-owned assets supervision and administration institution shall, before June 3 1 every year, summarize and analyze the data of enterprise property right registration in the previous year in this region, and report it to the state-owned assets supervision and administration institution of the State Council. Chapter II Types of Property Right Registration Article 10 Property right registration is divided into possession property right registration, alteration property right registration and cancellation property right registration. Eleventh institutions and enterprises that perform the duties of investors shall register their property rights under any of the following circumstances:

(a) the establishment of a new enterprise due to investment, division or merger;

(2) Obtaining the equity of the enterprise for the first time due to acquisition or investment;

(three) other circumstances that should be registered for the possession of property rights. Twelfth possession of property registration shall include the following contents:

(1) Enterprise investors and the types, amounts and forms of their investments;

(2) The proportion of registered capital and equity of the enterprise;

(3) The name of the enterprise and its ranking among the state-funded enterprises;

(4) the organizational form of the enterprise;

(five) the time and place of enterprise registration;

(6) The main business scope of the enterprise;

(seven) other contents required by the state-owned assets supervision and administration institution. Thirteenth in any of the following circumstances, the registration of property rights change shall be handled:

(1) The name and shareholding ratio of the institutions and enterprises that perform the responsibilities of investors have changed;

(2) The registered capital of the enterprise changes;

(3) Change of enterprise name;

(4) The organizational form of the enterprise has changed;

(5) Change of the place of registration of the enterprise;

(six) the main business of the enterprise has changed;

(seven) other circumstances that should be registered for the change of property rights. Fourteenth in any of the following circumstances, the registration of property rights shall be cancelled:

(1) Liquidation due to dissolution, bankruptcy and cancellation of enterprise legal person status;

(2) Due to the transfer of property rights, capital reduction, equity contribution, changes in the nature of investors, etc. There is no longer any institution or enterprise that performs the responsibilities of the investor among the enterprise investors;

(three) other circumstances that should cancel the registration of property rights.