Legal basis: People's Republic of China (PRC) Company Law.
Article 146 A director, supervisor or senior manager of a company may not be employed under any of the following circumstances: (1) Having no capacity for civil conduct or having limited capacity for civil conduct; (2) Being sentenced to punishment for corruption, bribery, embezzlement of property, misappropriation of property or disrupting the order of the socialist market economy, and the execution period is less than five years, or being deprived of political rights for committing a crime, and the execution period is less than five years; (3) If the directors, factory directors and managers of a bankrupt company or enterprise are personally responsible for the bankruptcy of the company or enterprise, it has not been more than three years since the date of completion of the bankruptcy liquidation of the company or enterprise; (4) Being the legal representative of a company or enterprise whose business license has been revoked due to violation of law and ordered to close down, and having personal responsibility, it has not been more than three years since the date when the business license of the company or enterprise was revoked; (five) a large amount of debt owed by an individual has not been paid off due. If the company elects, appoints directors, supervisors or employs senior management personnel in violation of the provisions of the preceding paragraph, the election, appointment or appointment shall be invalid. The company shall remove the directors, supervisors and senior managers from their posts under any of the circumstances listed in the first paragraph of this article during their term of office.
Article 180 The company is dissolved due to the following reasons: (1) The business term stipulated in the articles of association expires or other reasons for dissolution stipulated in the articles of association occur; (2) The shareholders' meeting or shareholders' meeting decides to dissolve; (3) The company needs to be dissolved due to merger or division; (4) The business license is revoked, ordered to close or revoked according to law; (5) The people's court shall be dissolved in accordance with the provisions of Article 182 of this Law.
Article 198 Whoever, in violation of the provisions of this Law, falsely reports the registered capital, submits false materials or conceals important facts by other deceptive means to obtain company registration, shall be ordered by the company registration authority to make corrections, and a fine of more than 5% 15% of the company's registered capital shall be imposed on the company that falsely reports the registered capital; Those who submit false materials or conceal important facts by other fraudulent means shall be fined between 50,000 yuan and 500,000 yuan; If the circumstances are serious, the company registration or business license shall be revoked.