(January 23, 2007 Chinese Banking Regulatory Commission promulgated as of March 1, 2007, 3rd) Chapter I General provisions article I-collection of standard trust company Fund trust business behavior, safeguard the legitimate rights and interests of collective trust investment plan to the parties, in accordance with the People's Republic of China trust law and the People's Republic of China Banking Regulatory Act and other laws and regulations, these measures are formulated.
Article People's Republic of China set up collective trust investment plan (hereinafter referred to as trust), consisted of a trust company as trustee, according to client wishes, for the benefit of the beneficiary, will be more than two (two) client focused on funding delivery management, use or disposal of financial trust operations, these measures shall apply.
Third article trust plans property independent Yu trust of inherent property, trust shall not will trust plans property return into its inherent property; trust for trust plans property of management, and using or other case and made of property and returns, return into trust plans property; trust for law dissolved, and was law revoked or was law declared bankruptcy, reasons for liquidation of, trust plans property not belongs to its liquidation property.
Fourth, using trust property trust management, should fulfill their duties to fulfil, careful due diligence obligations of good faith, for the services of the best interests of the beneficiary.
Second chapter trust plans of established fifth article trust company established trust plans, should meet following requirements: (a) client for qualified investors; (ii) participation trust plans of client for only beneficiaries; (three) single trust plans of natural number shall not over 50 people, qualified of institutions investors number not by limit; (four) trust term not less than one years; (five) trust funds has clear of investment direction and investment strategy, and meet national industry policy and other about provides;
(F) the beneficial right of the trust is divided into equal shares of the unit trust; (g) the trust contract should stipulate the trustee remuneration except reasonable remuneration, on behalf of the trust shall in any directly or indirectly with the trust property for themselves or others for profit and (VIII) other requirements prescribed by the China Banking Regulatory Commission.
Sixth article Qian article by said qualified investors, is refers to meet following conditions one of, can recognition, and judge and bear trust plans corresponding risk of people: (a) investment a a trust plans of minimum amount not less than 1 million Yuan Yuan of natural, and corporate or law established of other organization; (ii) personal or family financial assets total in its subscription Shi over 1 million Yuan Yuan, and can provides related property proved of natural;
(C) personal income annual income over the last three years more than RMB 200,000 or couples combined annual income over the last three years more than 300,000 yuan, and can provide proof of income of natural persons.
Article seventh trust company trust referral programs, specifications and detailed disclosure materials, express risk-return characteristics of trust scheme, fully disclose the risks involved in the trust schemes and risk principles, truthfully disclose the professional team qualifications, training and experience, you may not use any investor may affect the judgment of an independent risk misleading statements.
Trust companies trust offsite referral programs, shall, before referral to the register, introduction to the China Banking Regulatory Commission agency of the provincial report.
Eighth article trust promotion trust plans Shi, shall not has following behavior: (a) to any way commitment trust funds not by loss, or to any way commitment trust funds of minimum returns; (ii) for public marketing publicity; (three) delegate non-financial institutions for promotion; (four) promotion material contains and trust file inconsistent of content, or exists false records, and misleading sex statement or major missed, situation; (five) on company past of business performance for exaggerated introduced, or malicious down peer;
(Vi) other acts prohibited by the China Banking Regulatory Commission.
Nineth trust company trust plan has been established, that should do due diligence, feasibility analysis, legality, risk assessment, there are no related party transactions and other matters issued due diligence reports.
Tenth plan documents should contain the following: (a) the subscription risk declaration, (ii) the trust scheme specifications; (c) the trust contract (iv) other content under the China Banking Regulatory Commission. 11th article subscription risk affirmed book at least should contains following content: (a) trust plans not commitment capital preservation and minimum returns, has must of investment risk, for risk recognition, and assessment, and bear capacity strong of qualified investors; (ii) delegate people should to himself legal all of funds subscription trust units, shall not illegal collection others funds participation trust plans; (three) trust according to trust plans file management trust property by produced of risk, by trust property bear.
Breach of trust companies trust scheme documents, trust property damage caused by the improper handling of the trust Affairs, paid for by the trust to own assets; inadequate compensation, by the investors own and (iv) client subscription risk sign the Declaration, which has been carefully read and understand all of the trust documents, and shall bear the corresponding trust investment risk.
Subscription risks written in duplicate, indicating the client subscribed the number of trust units, respectively, by the Trustees and beneficiaries. 12th article trust plans manual at least should including following content: (a) trust of basic situation; (ii) trust plans of name and the main content; (three) trust contract of content summary; (four) trust plans of promotion date, and term and trust units price; (five) trust plans of promotion institutions name; (six) Trust Manager personnel list, and resume; (seven) lawyer firm issued of legal submissions; (eight) risk warning content; (nine) China banking supervision Management Committee provides of
Other content. 13th article trust contract should contains Ming following matters: (a) trust purpose; (ii) trustee people, and custody people of name (or name), and residence; (three) trust funds of currency species and amount; (four) trust plans of scale and term; (five) trust funds management, and using and disposition of specific method or arrangements; (six) trust interests of calculation, and to beneficiaries delivered trust interests of time and method; (seven) trust property tax of bear, and other costs of accounting and the paid method; (eight) by trustee paid calculation method
, And paid during and the method; (nine) trust terminated Shi trust property of belonging and the distribution way; (10) trust party of right, and obligations; (11) beneficiaries Assembly convened, and rules of procedure of the and the vote of program and rules; (12) new trustee people of elected way; (13) risk reveals; (14) trust party of default responsibility and the disputes solution way; (15) trust Party agreed of other matters. 14th the trust contract shall be at Home right above in bold font contain the following text: trust management of the trust property to the dedication, honesty, credit, prudent and effective management of performance obligations. Trust Company pursuant to the trust contract management risks arising out of the trust property, borne by the trust property.
Trust company due to violation of the trust contract, trust property damage caused by the improper handling of the trust Affairs, paid for by the trust to own assets; inadequate compensation, by the investors own.
15th trustee before the subscription of unit trusts should be carefully read trust the entire contents of the file, and signature in the subscription risk declaration, affirms that is willing to take on trust investment risk.
Trust company should be facilitated, ensure that the client can read or copy the trust file, and give the trust to clients original contract. 16th introducing trust trust company plans, can reach an agreement and sign a trust fund Agency cash by commercial banks. Clients subscribed in cash unit trusts, agent cash by commercial banks.
When plan cash trust business of commercial banks is trust, should clearly define the rights and obligations of the parties, only agent receipt and payment responsibility of commercial banks, does not bear the trust of the investment risk.
Trust company trust plan may be entrusted to qualified commercial banks on behalf of investors. 17th the trust plans to introduce expiration, failed to meet the conditions stipulated in the trust documents, trust company should be returned in the 30th after the expiration at the launching client has to pay the sum, plus interest on bank deposits.
Resulting debts and costs, borne by the trust company to own property.
18th after the trust plans to set up, the trust company trust plan assets should be deposited into special trust account and client disclosure within five working days of the trust plan promotion, establishment. Chapter trust custody of property article 19th guaranteed control of funds in the trust schemes.
For non-cash type of trust property, the trust can be agreed by the parties to implement third party custody, but otherwise provided by the China Banking Regulatory Commission, from its provisions. During the existence of the trust, trust company should choose healthy commercial banks to serve as custodian.
Safekeeping of the trust property accounts and the accounts of the trust property shall be the same account.
Trust company trust plan file conventions requires the use of trust funds shall be provided to the custodian a written copy of the contract and funding a description of the purpose of the trust.
20th article custody agreement at least should including following content: (a) trustee people, and custody people of name, and residence; (ii) trustee people, and custody people of right obligations; (three) trust plans property custody of places, and content, and method, and standard; (four) custody report content and format; (five) custody costs; (six) custody people on trust of business supervision and verification; (seven) Party agreed of other content. 21st custodian shall fulfill the following duties:
(A) security custody trust property; (ii) on by custody of different trust plans respectively set account, ensure trust property of independence; (three) confirmed and implementation trust management using trust property of instruction, check trust property trading records, and funds and property accounts; (four) records trust funds allocated situation, save trust of funds uses description; (five) regularly to trust issued custody report; (six) Party agreed of other duties.
22nd case of trust violations of laws and regulations and trust contracts, custodial operations, fiduciary trust company depository shall immediately give notice in writing to correct; when a major violation or seriously affect the safety of the trust property when the event occurs, the depositary shall promptly report to the China Banking Regulatory Commission.
The fourth chapter trust scheme run 23rd trust management and risk management plan should be set up as a trust services, information processing, management of trust funds and other departments, and specify the trust managers and related staff. Each trust scheme is equipped with at least one trust manager.
As a trust manager personnel shall comply with the conditions prescribed by the China Banking Regulatory Commission.
24th trusts to various trust schemes, shall establish a separate account accounting and management.
25th the trust funds can be combined using and use should be clearly the scope and investment ratios.
Securities investment trust with trust funds, should adopt a portfolio approach, planned investments and investment strategies, and take effective measures to prevent the risk.
Article 26th trusts can use debt, equity, property and other viable use of trust funds.
Trust with trust funds, should be agreed with the trust file consistent investments and investment strategies.
27th article trust management trust plans, should comply with following provides: (a) shall not to others provides guarantees; (ii) to others provides loan shall not over its management of all trust plans real received balance of 30%; (three) shall not will trust funds directly or indirect using Yu trust of shareholders and associated people, but trust funds all from shareholders or its associated people of except; (four) shall not to inherent property and trust property for trading; (five) shall not will different trust property for mutual trading;
(F) the trust managed plans to invest in the same company may not be in the same project.
28th trust trust trust income derived from the plan if trust planning document was not prescribed any other way, the trust income should be referred to the custodian to custody, a person shall not be diverted. Fifth chapter trust plan modification, termination and liquidation article 29th during the existence of the trust, the beneficiary may transfer their holdings to qualified investors of unit trust.
Trust company shall handle the formalities for the transfer of the right to benefits for beneficiaries.
Split the beneficial right of the trust transfers, the transferee must not be a natural person.
The beneficial right of the Trust-Agency and not subject to natural person or split transfer.
30th under any of the following circumstances, the trust plans to terminate: (a) the trust contract expiry; (b) the beneficiaries of the General Assembly's decision to end; (c) the responsibilities of the trustee end, in accordance with the relevant provisions of the new trustee; (iv) other circumstances stipulated in the trust scheme file. 31st trust scheme, trusts should be made within ten working days after the termination of liquidation of the handling of the trust Affairs reports after audit disclosed to beneficiaries.
Stipulated in the trust documents does not require audits of the liquidation report, liquidation of the trust company can submit unaudited reports. 32nd after the liquidation of the remaining trust property shall, in accordance with the trust agreement according to the proportion of beneficiaries holding trust unit for distribution.
Distribution can take cash, maintaining intact upon termination of the trust property or a mixture of both.
Take cash, trust companies agreed to the trust document should be assigned before or before the expiration of the trust are trust property and cash in the beneficiary account. Ways of maintaining intact upon termination of the trust property, trust company should be in the trust after the expiry of the agreed period, complete with property in favour of transfer. Before the transfer of the trust property, the trust company is responsible for keeping. During custody, trust companies are not allowed to use the property. Deposit period earnings belong to the trust property, and custody costs are borne by the custodial trust property.
Due to reasons of the beneficiary of the trust property cannot be transferred, trusts can be handled in accordance with the relevant laws and regulations.
Article 33rd trust company should manage the trust scheme with actual trust of the proceeds allocated, no trust company trust income into his own property, or diverted from other losses or gains of the trust property to advance trust scheme.
The sixth chapter information disclosure and supervision article 34th trust company shall, in accordance with the law and regulations of and agreed to the trust plans to file timely disclosure of information, and guarantee the authenticity, accuracy and completeness of the information disclosed.
35th to the trust beneficiary is entitled to query information relating to his trust property and trust company shall, without prejudice to other legal rights and interests of the beneficiary of the premise, to provide accurate, timely and complete information and shall not refuse or buck-passing.
Article 36th trust scheme was set up, trust should trust plan is different, making management of trust funds on a quarterly report, trust funds and income statement.
37th article trust funds management report at least should contains following content: (a) trust property designed households of open state situation; (ii) trust funds management, and using, and disposition and returns situation; (three) Trust Manager change situation; (four) trust funds using major changes description; (five) involved litigation or damage trust plans property, and beneficiaries interests of case; (six) trust plans file agreed of other content.
38th article trust plans occurred following case one of of, trust should in informed about situation Hou three a days within beneficiaries disclosure, and since disclosure of day up seven a days within beneficiaries written proposed trust take of should measures: (a) trust property may suffered major loss; (ii) trust funds using party of financial status serious deterioration; (three) trust plans of guarantees party cannot continues to provides effective of guarantees.
39th trust company shall keep all the information management plan, retention period scheduled end date of the trust shall be not less than 15 years.
40th the China Banking Regulatory Commission in accordance with the trust company trust plan implementation of the on-site inspection and off-site supervision and related information requirements trust management trust plans.
China Banking Regulatory Commission on the spot checks or trust violations found in off-site supervision, should be in accordance with the People's Republic of China banking regulatory provisions of the Act and other laws and regulations, to suspend operations, restrict shareholder rights and other regulatory measures.
Seventh beneficiaries beneficiaries of the 41st General Assembly made up of all the beneficiaries of the trust scheme, exercises its powers in accordance with this regulation.
42nd to appear the following trust scheme files without prior agreement, consideration by the General Assembly shall convene the beneficiary decides: (a) terminate the trust contract or extend the trust period, (ii) change the way use of trust property; (c) the trustee; (iv) increase the remuneration of the trustee; (e) the plan file conventions required Assembly of the beneficiary of the other trust matters.
Beneficiaries of the 43rd General Assembly convened by the trustee, the trustee is not required when called or is unable to call, on behalf of 10% trust units above the beneficiary's right to call their own.
44th General Assembly convened the beneficiaries, the convenor should beneficiaries of at least ten working days notice in advance of the General Assembly to convene, format of meetings, consideration of the matter, proceedings and voting issues.
Beneficiary Assembly will not vote on the matter without notice.
Article 45th the beneficiary can take the site held by the General Assembly, can also take communication meeting.
Has one vote for each trust unit, beneficiaries of the beneficiary may appoint proxies to attend the meeting and to exercise the right to vote.
Beneficiaries of the 46th General Assembly representing 50% of the beneficiaries of the trust unit shall participate in, may convene; decision in consideration of the General Assembly, shall be subject to two-thirds per cent of the voting rights held by the beneficiaries participating in the General Assembly by; replacement of Trustees, change use of trust property, early termination of the trust contract shall be adopted by the beneficiaries participating in the General Assembly plenary.
Matters decided by the General Assembly of the beneficiary, shall promptly notify the relevant parties, and to report to the China Banking Regulatory Commission.
Eighth chapter penalty 47th trust company trust plan does not comply with the relevant provisions of this approach has been established, the China Banking Regulatory Commission shall order rectification fails, fines of between 100,000 yuan and 300,000 yuan the circumstances are especially serious, can be closed for rectification or revoke their financial licenses.
48th trust company trust plan in violation of the relevant provisions of the measures for the promotion, by the China Banking Regulatory Commission ordered to stop, return and raise funds plus interest on bank deposits and a penalty of 200,000 yuan and 500,000 yuan constitutes a crime, criminal responsibility shall be investigated according to law. 49th article trust management trust plans violation this approach about provides of, by China banking supervision Management Committee ordered corrected; has illegal proceeds of, confiscated illegal proceeds, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds of, at 200,000 yuan above 500,000 yuan following fine; plot special serious or late not corrected of, can ordered closed reorganization or revoked its financial license; constitute crime of, law held criminal.
50th trusts failing to the approach to information disclosure or disclosure of information any false record, misleading statement or material omission, the China Banking Regulatory Commission ordered corrective action, and a penalty of 200,000 yuan and 500,000 yuan; damages are caused to the beneficiary shall bear liability.
51st trust company set up, administer trust scheme there are other violations, the China Banking Regulatory Commission under the People's Republic of China banking regulatory provisions of the Act and other laws and regulations, take the appropriate penalties.
Nineth chapter supplementary articles article 52nd more (two) single fund trust for the same item, the principal shall comply with the qualified investors as provided herein, and the application of this regulation.
53rd chattel trusts and real estate trust and other property, and property transfer of trust beneficiary right split, shall comply with the relevant provisions of these measures.
54th explain these measures by the China Banking Regulatory Commission.
55th article of the rules take effect on March 1, 2007, the original of the interim measures for the management of trust and investment company capital trust (the people's Bank of China Decree [2002] 7th) no longer applies.
