(January 23, 2007 Chinese Banking Regulatory Commission promulgated as of March 1, 2007, 2nd) Chapter I General provisions article to strengthen the supervision and administration of trusts, standard trust company business practices, promote the healthy development of the trust, 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.
Trust in these measures in article, refers, in accordance with the People's Republic of China law and these rules, the establishment of financial institutions mainly engaged in trust businesses.
Trust in these measures, refers to the trust company and paid for the purpose of business, acting in a fiduciary capacity commitment management behavior of the trust and the handling of trust Affairs. Article the trust property does not belong to the trust's own property, do not belong to the liabilities of the trust to the beneficiary.
Upon termination of the trust, the trust property does not belong to the assets to be liquidated.
Article fourth trust companies engage in trust activities shall abide by the laws and regulations and conventions of the trust documents, shall be without prejudice to national interests, public interests and the legitimate rights and interests of the beneficiary.
Fifth, China Banking Regulatory Commission to supervise and administer the trust and its operational activities.
Chapter II establishment, change and termination article sixth trust companies, should take the form of limited liability company, or Corporation.
Article seventh trust company shall be approved by the China Banking Regulatory Commission, and receive a financial license. Without the approval of the China Banking Regulatory Commission, no unit or individual is allowed to carry on trust business, any business units may not be used in their names "trust company".
Except as otherwise provided by laws and regulations.
Eighth article established trust, should has following conditions: (a) has meet People's Republic of China company law and China banking supervision Management Committee provides of company articles; (ii) has has China banking supervision Management Committee provides of shares qualification of shareholders; (three) has this approach provides of minimum limit of registered capital; (four) has has China banking supervision Management Committee provides served qualification of Director, and senior management personnel and with business phase adapted of trust practitioners;
(E) have a sound organizational structure, trust business operation and risk control systems; (f) meet the requirements of the business premises, safety measures and other business-related facilities; (VII) other conditions specified by the China Banking Regulatory Commission.
Nineth China Banking Regulatory Commission in accordance with the laws and regulations and the principles of prudential supervision to review applications for setting up of a trust company, the decision to approve or not to approve; not approved, reasons shall be given.
Tenth trust company minimum registered capital is RMB 300 million or its equivalent in a freely convertible currency, registered capital is paid in cash.
Applied for corporate pension funds, securities underwriting, asset securitisation business, shall comply with the relevant laws and regulations, the minimum registered capital requirement.
China Banking Regulatory Commission, according to the development of trust industry needs, you can adjust the minimum amount of the registered capital of trust companies.
11th without the approval of the China Banking Regulatory Commission, a trust company shall not establish or set up branches in disguise.
12th article trust has following case one of of, should by China banking supervision Management Committee approved: (a) change name; (ii) change registered capital; (three) change company residence; (four) change Organization; (five) adjustment business range; (six) replaced Director or senior management personnel; (seven) change shareholders or adjustment equity structure, but holds listed company circulation shares not reached company total shares 5% of except; (eight) modified company articles; (nine) merged or Division;
(10) other circumstances as stipulated by the China Banking Regulatory Commission.
13th trust companies appear divided or merged, or as specified in the articles of dissolution, application is dissolved, disbanded after its approval by the China Banking Regulatory Commission, and shall organize liquidation liquidated.
14th trust companies unable to repay debts and assets are insufficient to pay off debt, or apparent lack of liquidity, as approved by the China Banking Regulatory Commission, may apply to the Court for bankruptcy.
The China Banking Regulatory Commission may appeal to the Court directly to the trust company reorganization or liquidation in bankruptcy applications. 15th trust terminates, the termination of its responsibility to manage trust Affairs at the same time. The liquidation shall take good care of the trust property, make the handling of trust Affairs reporting to the new trustee to handle the transfer of the trust property.
Otherwise stipulated in the trust documents, their agreement shall prevail. Third chapter business range 16th article trust can application business following part or all this foreign currency business: (a) funds trust; (ii) movable trust; (three) real estate trust; (four) securities trust; (five) other property or property trust; (six) as investment fund or fund management company of sponsors engaged in investment fund business; (seven) business enterprise assets of restructuring, and purchased and and the project financing, and company financial, and financial consultant, business; (eight) trustee business State about
Approved by the underwriting and (IX) any business such as brokerage, consulting, credit investigation; (j) safekeeping and safe operations; (11) laws and regulations or other business approved by the China Banking Regulatory Commission.
17th trusts under the People's Republic of China trust law and other laws and regulations of the relevant provisions of public trust activities carried out.
18th trust companies according to market needs, in accordance with the purposes of the trust, the trust property types or different ways of managing the trust property to set up a trust business. Article 19th trust management, utilization and disposition of the trust property, in accordance with the agreement of the trust documents, investment, selling, storing, buying back the sale, rental, lending or any other means.
Provisions of China Banking Regulatory Commission, from its provisions.
Trust company is allowed to sell to buy back used trust property is administered. 20th under natural operations of trust companies can carry out due from banks, call loans to banks, loans, leasing, investment and other business.
Investment business limited to financial equity investment, investment in fixed assets investment and financial products for personal use.
For industrial investment trust company is allowed to own assets, unless otherwise stipulated by China Banking Regulatory Commission. Article 21st trust company shall be carried out in addition to the inter-bank debt business other than business, and 20% of the inter-bank balance shall not exceed its net assets.
Unless otherwise provided by China Banking Regulatory Commission.
22nd trust company can guarantee business, but external balance of guarantees shall not exceed the net assets of 50%.
Article 23rd foreign exchange trust trust company shall comply with the relevant provisions of the State administration of foreign exchange, and accept the inspection and supervision of foreign exchange authorities.
Chapter fourth business rule 24th trust management, utilization and disposition of the trust property, must fulfill their duties to fulfil obligations of honesty, credit and prudent and effective management, maintaining the best interests of the beneficiary.
25th when trust in the handling of the trust Affairs shall avoid conflicts of interest, cannot be avoided, it should be full disclosure to the trustee and the beneficiary, or refuse to engage in the business. 26th trusts should be personally handling the trust Affairs.
Otherwise stipulated in the trust documents or when there is no alternative, may entrust another person to handle, but adequate supervisory obligation of the trust, and assume responsibility for the handling of the trust Affairs by others.
27th trust company trustee and beneficiary, as well as the handling of the trust Affairs and information in accordance with law of obligations, unless the law provides otherwise and except as otherwise stipulated in the trust documents.
28th trust company shall keep complete records of the handling of the trust Affairs, report regularly to the settler, the beneficiary of the trust property and its management, utilization and disposition and the balance of payments situation.
Fiduciary trust company trustee and the beneficiary has the right to understand the management of the trust property and disposition, and income and expenditure, and asked the trust to make notes.
29th trust should trust property and his inherent property separately managed accounts, respectively, and the trust property of different trustors separately managed accounts, respectively.
30th trust company shall establish accounts in accordance with law, trust business and non-business accounted for separately, and each trusts accounted for separately.
31st trust business of a trust company should be independent from other departments of the company and its personnel shall not be part-time with other Department personnel, business information will not be shared with other departments. 32nd article to trust contract form established trust Shi, trust contract should contains Ming following matters: (a) trust purpose; (ii) client, and trustee people of name or name, and residence; (three) beneficiaries or beneficiaries range; (four) trust property of range, and type and the status; (five) trust party of right obligations; (six) trust property management in the risk of reveals and bear; (seven) trust property of management way and trustee people of business permission; (eight) trust interests of calculation, to beneficiaries delivered trust Lee Benefits of form, and method; (nine) trust paid of calculation and the paid; (10) trust property tax of bear and other costs of accounting; (11) trust term and trust of terminated; (12) trust terminated Shi trust property of belonging; (13) trust Affairs of report; (14) trust party of default responsibility and the disputes solution way; (15) new trustee people of elected way; (16) trust Party think need contains ming of other matters.
Other written documents other than the trust contract when the trust was established, written documents set forth the matter in accordance with the relevant laws and regulations shall apply.
Article 33rd inherent business trust shall not be any of the following acts: (a) merging funds associated to or transferred property; (b) to guarantee affiliates; (c) to shareholders of the company's equity as collateral for financing.
Related parties of the trust in accordance with the People's Republic of China Corporation law and the standard definition of accounting standards for business enterprises.
34th article trust carried out trust business, shall not has following behavior: (a) using trustee people status seek improper interests; (ii) will trust property misappropriated Yu non-trust purpose of uses; (three) commitment trust property not by loss or guarantee minimum returns; (four) to trust property provides guarantees; (five) legal regulations and China banking supervision Management Committee ban of other behavior.
Article 35th trust companies affiliated transactions, should be based on fair market value, each transaction prior to the China Banking Regulatory Commission report and in accordance with the relevant provisions of the information disclosure.
Article 36th trusts operate trusts business, shall, in accordance with the trust documents collected at the agreed fee or Commission paid, unless otherwise provided by China Banking Regulatory Commission.
Trust company paid and should be open to the beneficiaries, and on specific standard charges to beneficiaries.
37th trust company against the purposes of disposition of the trust property, or due to violation of the management duties, improper handling of the trust Affairs resulting in loss of trust property, in front of the restore status quo ante of the trust property or be compensated, a trust company shall not seek remuneration. Article 38th trust due to the handling of trust Affairs and the costs incurred, debt burden, borne of the trust property, but should be set forth in a contract of trust or explicitly communicated to the beneficiary. Trust company, with its inherent property of advance payment, has the priority right to be repaid the trust property.
Trust company against management responsibilities or debts by improper administration of trust Affairs and the damage, with his inherent property.
39th trust company against the purposes of disposition of the trust property, or gross negligence of the management, utilization and disposition of the trust property, the principal or beneficiary rights in accordance with the agreement to remove the trust in the trust documents or request the people's Court to remove the trust. 40th trustee duties terminated according to law, the Convention elected new trustee pursuant to the trust file; not stipulated in the trust documents, selection by client; client can not elected, appointed by the beneficiary; beneficiary is a person without civil capacity or a person with limited capacity for civil conduct, appointed by his guardian on his behalf according to law.
Before the formation of new trustees are not, you can specify a temporary trustee of China Banking Regulatory Commission.
41st article trust business trust business, has following case one of of, trust terminated: (a) trust file agreed of terminated causes occurred; (ii) trust of acquired violation trust purpose; (three) trust purpose has achieved or cannot achieved; (four) trust party consultations agreed; (five) trust term expires; (six) trust was lifted; (seven) trust was revoked; (eight) all benefit people gave up trust benefit right. 42nd the trust terminates, the trust company shall be made in accordance with the agreement of the trust documents and handle the trust Affairs of the liquidation report.
Beneficiary or the trust property is vested in the people of liquidation report no objections, the trust company matters listed on the liquidation report absolved of responsibility, trusts except for misconduct.
Supervision and administration of the fifth chapter 43rd trust company shall establish a shareholder (large), Board of Directors, Board of supervisors, senior management, such as the organizational framework, defining their duties and ensure the independent and effective checks and balances to each other, form a scientific and efficient decision-making, incentive and restraint mechanisms.
44th trust company should be established in accordance with the principle of segregation of duties appropriate jobs guarantee for risk prevention, control, supervision and correction, forming a sound internal mechanism and monitoring mechanisms.
45th trusts should be elaborated in accordance with the regulations of the corporate trust business and other business rules, establish and improve the company's operational management system and internal control system, and the China Banking Regulatory Commission for the record. Article 46th trust company shall, in accordance with relevant regulations of the State to establish and improve the company's financial and accounting systems, true record and fully reflect its business activities and financial position.
Annual financial statements of the company shall be audited by intermediary institutions with good qualifications.
47th China Banking Regulatory Commission can periodically check or irregular operations of trust companies, if necessary, to require that trust companies provide good qualified intermediary audit reports issued by.
Trust company shall, in accordance with requirements of the Chinese Banking Regulatory Commission provides business, financial statements and information, and relevant business information. 48th China Banking Regulatory Commission net capital management of trust companies.
The specific measures shall be formulated separately by the China Banking Regulatory Commission.
49th trust company should be extracted from the profit after tax 5% reserve as compensation for the trust, but the compensation reserve accumulated total registered capital of 20% is reached, can no longer extract.
Trust company the compensation reserve should be stored in a solid, have the strength of the domestic commercial banks or used to buy bonds and other securities low risk and high liquidity. 50th the China Banking Regulatory Commission on the trust's directors and senior management personnel for qualification review system.
Without the China Banking Regulatory Commission failed to pass the qualification examination or review, and shall not be served. Trust companies to be the outgoing directors, senior managers, should carry out auditing and audit results are reported to the China Banking Regulatory Commission.
Change of the legal representative of a trust company, in the new legal representative before the qualification approved by the China Banking Regulatory Commission, representative of the legal person is prohibited from departing. 51st the China Banking Regulatory Commission imposed on trust trust trust business qualification management system.
Qualified issue trust certificates; lack of trust certificates shall not operate trust business.
52nd trust company directors, senior management and the trust violation of laws, administrative regulations or relevant regulations of the China Banking Regulatory Commission, China Banking Regulatory Commission has the right to cancel their qualifications or qualifications.
53rd perform their duties according to the China Banking Regulatory Commission needs, you can trust talking to directors and senior management staff to carry out regulatory, requires trust company directors and senior executives on the business of a trust company activities a description of the significant matters and risk management.
54th trust violation of prudential rules, a rectification of China Banking Regulatory Commission; it fails to mend, or seriously jeopardize the operation, damage the lawful rights and interests of the beneficiary of a trust company, can be differentiated from the China Banking Regulatory Commission, according to 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.
55th trust companies credit crisis has been or may be, seriously affecting the lawful rights and interests of the beneficiary, China Banking Regulatory Commission may, in accordance with the trust over or supervise the restructuring.
56th collapsed the China Banking Regulatory Committee approved trust companies set up, modification, termination, found the original application material is concealment, false, it may order the correction or cancellation of approval.
57th trust companies can join the Association of Chinese trust industry and industry self-regulation.
China's trust industry association activities shall be subject to the guidance and supervision of China Banking Regulatory Commission.
Sixth chapter penalty is 58th article without China banking supervision Management Committee approved, unauthorized established trust of, by China banking supervision management committee law be banned; constitute crime of, law held criminal; is not constitute crime of, by China banking supervision Management Committee confiscated illegal proceeds, illegal proceeds 500,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 500,000 yuan of, at 500,000 yuan above 2 million Yuan following fine. 59th article without China banking supervision Management Committee approved, trust unauthorized established branch institutions or carried out this approach 19th article, and 20th article, and 21st article, and 22nd article, and 33rd article and 34th article ban of business of, by China banking supervision Management Committee ordered corrected, has illegal proceeds of, confiscated illegal proceeds, illegal proceeds 500,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 500,000 yuan of,
Penalty of between 500,000 yuan and 2 million Yuan; the circumstances are especially serious, or fails to make corrections, shall be ordered closed for rectification or revoke their financial licenses constitutes a crime, criminal responsibility shall be investigated according to law.
60th trust violations of other provisions of this approach, the China Banking Regulatory Commission in accordance with the People's Republic of China banking regulatory provisions of the Act and other laws and regulations, take the appropriate penalties. 61st trusts illegal business, poor management, where no revocation would seriously jeopardize the financial order, injurious to the public interest, the China Banking Regulatory Commission shall be revoked.
62nd directly responsible for violations of trust companies of Directors, senior management and other personnel, the China Banking Regulatory Commission can distinguish different situations, in accordance with the People's Republic of China banking regulatory provisions of the Act and other laws and regulations, fines and penalties such as cancellation of qualification or qualifications.
63rd refuses to accept the decision of the China Banking Regulatory Commission, drew attention to the administrative reconsideration or bring administrative proceedings in accordance with law. Seventh chapter supplementary articles article 64th trust companies handling the trust Affairs did not perform management duties himself, which does not assume investment management responsibilities, its registered capital shall not be less than RMB 100 million or an equivalent amount in convertible currencies.
Supervision and administration of such trusts in accordance with the measures implemented.
65th explain these measures by the China Banking Regulatory Commission.
66th these measures shall come into force on March 1, 2007, the original of administrative measures on the trust and investment companies (people's Bank of China Decree [2002] 5th number) no longer applies.
