The term "financing guarantee" as mentioned in these Measures refers to the behavior of the guarantor to provide guarantee for debt financing such as borrowing and issuing bonds.
The term "financing guarantee company" as mentioned in these Measures refers to a limited liability company or a joint stock limited company established according to law and engaged in financing guarantee business. Article 3 The people's governments at or above the county level shall establish a supporting policy system for the financing guarantee industry and implement preferential tax policies. The provincial people's government and the conditional city and county (District) people's government set up financing guarantee support funds.
The people's governments at or above the county level shall improve the compensation, dispersion and disposal mechanism of financing guarantee risks, and promote the establishment of risk sharing mechanism between financing guarantee companies and banking financial institutions. Article 4 The financial supervision and administration department of the local people's government at or above the county level or the department designated by the government responsible for the supervision and administration of financing guarantee companies (hereinafter referred to as the supervision and administration department) shall be specifically responsible for the supervision and administration of financing guarantee companies within their respective administrative areas.
The departments of development and reform, economy and informatization, finance, public security and market supervision and management of the people's governments at or above the county level shall, in accordance with their respective duties, do a good job in the supervision and management of financing guarantee companies. Chapter II Establishment, Modification and Termination Article 5 The establishment of a financing guarantee company shall comply with the provisions of the Company Law of People's Republic of China (PRC) and meet the following conditions:
(1) The shareholders have a good reputation and have no record of major violations of laws and regulations in the last three years;
(2) Its registered capital is not less than RMB 6,543.8 billion, and it is paid-in monetary capital;
(3) The directors, supervisors and senior managers to be appointed are familiar with the laws and regulations related to financing guarantee business, and have the professional experience and management ability required to perform their duties;
(4) Having sound internal management systems such as business norms and risk control. Article 6 The establishment of a financing guarantee company shall be examined and approved by the provincial supervision and administration department, and a business license shall be issued.
The name of a financing guarantee company shall be marked with the words financing guarantee.
Without the approval of the supervision and administration department, no unit or individual may engage in financing guarantee business, and no unit may use the word financing guarantee in its name. Unless otherwise stipulated by the state. Article 7 To apply for the establishment of a financing guarantee company, the following documents and materials shall be submitted to the supervision and administration department:
(1) An application, stating the name, domicile, registered capital and business scope of the financing guarantee company to be established;
(2) Resolutions of the shareholders' meeting or promoters' meeting on the establishment of the company, adoption of the articles of association, election of directors and supervisors, and formulation of the draft articles of association;
(3) The register of shareholders, their capital contribution and shareholding structure;
(4) capital verification certificate of shareholder's contribution, shareholder's credit certificate and relevant materials;
(5) Other conditions stipulated by laws and regulations. Article 8 The merger, division or reduction of the registered capital of a financing guarantee company shall be subject to the approval of the provincial supervision and administration institution.
A financing guarantee company that establishes a branch, changes its name or changes its shareholders holding more than 20% of the shares shall file with the provincial supervision and administration department; Changes in shareholders holding more than 5% and less than 20% of shares or changes in directors, supervisors and senior management personnel shall be filed with the municipal supervision and administration department with districts.
A financing guarantee company shall, within 30 days from the date of the establishment of a branch or the change of related matters, file with the supervision and management department, and the changed related matters shall conform to the provisions of Article 5 and Article 6, paragraph 2 of these Measures. Article 9 The business license issued for the first time is valid for 2 years.
Where a financing guarantee company and its branches need to extend the validity period of their business licenses, they shall apply to the supervision and administration department that made the decision on the business licenses 30 days before the expiration of the validity period of the business licenses. The supervision and management department shall make a decision on whether to approve the extension before the expiration of the validity period. If no decision is made within the time limit, it shall be deemed as approval. The extension is valid for 5 years. Article 10 Where a financing guarantee company is dissolved, it shall set up a liquidation group to carry out liquidation according to law, and make clear arrangements for undertaking the unexpired financing guarantee liabilities. The supervision and administration department shall supervise the liquidation process.
Where a financing guarantee company is dissolved or declared bankrupt according to law, it shall submit its business license to the supervision and administration institution, which shall make an announcement. Chapter III Operation and Risk Control Article 11 A financing guarantee company may engage in financing guarantee business such as loan guarantee and bond issuance guarantee.
A financing guarantee company with stable operation and good financial position can concurrently engage in non-financing guarantee business such as litigation preservation guarantee, bid guarantee, project performance guarantee and consulting services related to guarantee business. Article 12 A financing guarantee company shall follow the principle of prudent operation, and establish and improve the business systems of guarantee project evaluation, post-guarantee management, recovery and disposal, as well as risk management and internal control systems.
The prudential management rules mentioned in the preceding paragraph include asset quality, capital utilization, reserve, risk concentration, related party transactions, asset liquidity, etc.