In order to strengthen the supervision of financing guarantee companies from the source, the draft for comment is based on the Decision of the State Council on Amending the Decision of the State Council Municipality on Setting Administrative License for Administrative Examination and Approval Items that Need to be Preserved (the State Council Order).
No.548) stipulates that the establishment of financing guarantee companies and the establishment of branches of financing guarantee companies across provinces, autonomous regions and municipalities directly under the Central Government must be approved by the regulatory authorities according to law, and the conditions and procedures for examination and approval are stipulated.
At the same time, the exposure draft stipulates the filing system for changes in the name and registered capital of financing guarantee companies, changes in shareholders holding more than 5% of shares, and changes in directors, supervisors and senior management personnel, and stipulates that changes should comply with the relevant provisions of these regulations.
As for the market withdrawal and termination of financing guarantee companies, the exposure draft stipulates that financing guarantee companies or their branches have not operated financing guarantee business for more than 1 year without justifiable reasons since the date of obtaining the financing guarantee business license.
For insurance business, the regulatory authorities shall return their financing guarantee business licenses. When a financing guarantee company is dissolved, a liquidation group shall be established in accordance with the law to carry out liquidation, repay the relevant debts in time according to the debt settlement plan, and clarify the contingent debts.
The liquidation process shall be subject to the supervision of the regulatory authorities. Before the guarantee liability is lifted, shareholders shall not distribute the company's property or obtain any benefits from the company. If a financing guarantee company is dissolved or declared bankrupt according to law, it shall
When reporting to the regulatory authorities, and after the liquidation, the financing guarantee business license shall be submitted to the regulatory authorities for cancellation.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.