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Interim Measures For The Chongqing Municipal Property Right Transfer Of State-Owned

Original Language Title: 重庆市经营性国有产权转让暂行办法

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(Summit No. 167 of 7 April 2004)

Article 1, in order to regulate the transfer of State property, to prevent the loss of State assets and to develop this approach in the light of the provisional regulations on the management of enterprise State assets and relevant national provisions.
Article 2
The transfer of State units in the last city company is carried out in accordance with the relevant provisions of the State.
The State property transfer of financial enterprises, as well as the State's provisions.
Article 3. This approach refers to the State's right to ownership of the enterprise in all its forms, the interests of the State and the various investments made by the State and the State Control Unit, as well as the other rights and interests of the State in accordance with the law.
Article IV governs the supervision of State-owned asset monitoring authorities responsible for the transfer of State property across the city.
The Government of the People of Regions (Autonomous Regions, municipalities) assumes the responsibility for the management of State assets and is responsible for the supervision of the transfer of property rights to the same enterprise, while receiving guidance and supervision from the municipal State asset control authorities.
The relevant administrations, such as finance, business, land tenure and public safety, are responsible, within their respective responsibilities, for the supervision of the transfer of corporate State property.
Article 5 The transfer of corporate property rights should be guided by the principles of openness, equity, impartiality and genuine credit and protect the legitimate rights and interests of States and other parties.
Article 6. The State-owned asset monitoring authority should establish a system of complaints against the transfer of property rights by the State.
Discriminatory offences in the transfer of corporate property are reported by the State asset monitoring authority.
Article 7.
The transfer of corporate property with security rights should be consistent with the relevant provisions of the People's Republic of China Security Act.
Article 8. The transfer of corporate national property rights shall take a decision on the transfer programme in accordance with internal decision-making procedures.
The transfer of property rights from State-owned enterprises should be considered by the Board; however, the transfer of property rights from State-owned enterprises that do not conduct corporate transformations is considered by the office of the General Manager. In relation to the legitimate rights and interests of the worker, the views of the General Assembly of Corporate Employers (on behalf) of the Transfermark should be heard, and matters such as the placement of the employee (on behalf) should be discussed by the General Assembly.
Article 9
(i) The basic conditions for the transfer of corporate property rights;
(ii) The relevant argument of the transfer of corporate property;
(iii) The enterprise involved in the transfer of the mark and the employment security programme approved by the executive branch;
(iv) Transfer of tenders involving claims, debts, including treatment programmes for arrears in the debt of workers;
(v) The National Property Transfers Programme;
(vi) The main elements of a national title transfer announcement.
The transfer of corporate national property rights leads to the non-representation of the transferee of the controlled unit and should be accompanied by the relevant debt agreements agreed upon in the written consent of the creditor financial institutions, the Staff (on behalf) General Assembly resolution to consider the employment resettlement programme.
Article 10, in accordance with the approval process provided for in this approach, shall, after the approval or decision of the enterprise's national property transfer matter, be subject to the approval or decision, the transferee shall organize the transfer of the mark's enterprise to carry out the inventory of its assigned amount in accordance with the relevant provisions, to prepare the balance sheets and the transfer of assets in accordance with the results of the inventory, and entrust the accountant with the overall audit (including the departure of the owner of the enterprise legal representative of the transfermark in accordance with the relevant national regulations). The determination and write-off of losses of assets should be carried out in accordance with the relevant national provisions.
The transfer of corporate State property funded by the transfer resulted in no longer having the status of the Prosecution, with the organization of the same-level State asset monitoring authority carrying out the inventory of nuclear resources and entrusting the social brokering agencies with relevant operations.
Article 11. On the basis of accounting for nuclear resources and auditing, the transferee shall entrust the appropriate quality of the asset assessment body to carry out the asset assessment in accordance with the relevant national provisions. The assessment report has been approved or submitted as a reference basis for determining the price of national property transfers.
Article 12
(i) Special requirements for the competent parties in key sectors of the national economy;
(ii) Transfer of corporate national property rights to owned companies;
(iii) Transfer between State-owned enterprises;
(iv) At the time of the auction, public solicitation generated only one competing buyer.
In accordance with subparagraphs (i), (ii) of the previous paragraph, the modalities for the transfer of an agreement are subject to approval by the State-owned asset monitoring authority.
Article 13. The State asset monitoring authority determines the transfer of corporate property to the enterprise financed; the State property transfer to which the enterprise is financed shall be submitted after the approval of the same-ranking State asset monitoring authority by the financial sector.
Article 14. The transfer of corporate State property relates to one of the following cases and shall be submitted to the Government of the city for approval:
(i) Transfer of State enterprises as a whole;
(ii) The transfer of corporate State property resulting in no State having the status of the Prosecution Unit;
(iii) The transfer of national property rights assessment values of over $30 million.
The transfer of State property assessment values of more than 5 million dollars in the district (Autonomous Regions, municipalities) should be reported to the Government of the Bench people for approval.
Article 15. The transfer of corporate national property rights relates to the Government's approval of matters relating to public management, which is subject to prior government approval.
Article 16 decides or approves the transfer of corporate national property, and shall review the following written documents:
(i) Relevant decisions and resolutions on the transfer of corporate State property;
(ii) The National Property Transfer Programme of the Enterprise;
(iii) The State ownership rights of the enterprise;
(iv) Legal opinions from lawyers;
(v) The basic conditions to be met by the competent party;
(vi) Other documentation requested by the institution.
Article 17 shall be reproduced in accordance with the prescribed procedures, after approval or decision of the enterprise State property transfer, such as the transfer and adjustment of the share of the transfer of property by both parties or the enterprise's national property transfer programme.
Article 18 The transfer of corporate property rights shall be made public by a designated property transaction agency or its branches of the National Asset Regulatory Authority, while respecting the transaction rules of the property transaction agency.
Article 19 Transfers of corporate property to the property trading body shall submit the following information to the trading body:
(i) Applications for the transfer of corporate property;
(ii) The qualifications of the transferor;
(iii) The State ownership rights of the enterprise;
(iv) The documents to be agreed by the competent body to transfer;
(v) The transfer of notes and the related supporting documentation.
The transfer statement may provide the necessary conditions for the qualifications, trade preferences, business, financial situation, management capacity, asset size.
Article 20 The transferee shall entrust the property transfer notice to the property transaction body on the website of the public distribution and the property transaction agency, which is published above the municipal level, with a wide range of requisitioners. The notice of property transfer was 20 working days.
The notice of property transfer should include the following:
(i) The basic circumstances of the transfer of the mark;
(ii) The composition of the property rights of companies that transfer the mark;
(iii) In-house decision-making and approval of property transfers;
(iv) Data on key financial indicators for companies that transfer the mark in the near future;
(v) A description of the enterprise asset assessment for the transfer of the mark or the case;
(vi) The basic conditions to be met by the competent party;
(vii) Other matters requiring a notice.
Article 21 Transfers of corporate property in accordance with the provisions of the People's Republic of China auction Act.
The second article of the auction (or tendering), the agreement on the transfer of corporate national property rights, the price of the transfer would need to be determined by 90 per cent and 50 per cent of the value of the assessment, and should be continued with the consent of the same-ranking State asset monitoring authority and the same-level government.
Article 23 provides for the transfer of corporate national property rights in accordance with this approach, the transferee and the licensor shall enter into a national property transfer contract with the licensor and obtain a national property transfer certificate from the trading body that receives the transfer of corporate property. The transferee is registered with the licensee for the identification of State property transfers.
The model text of the State property transfer contract was developed jointly by the State Asset Regulatory Authority, the municipal financial sector and the municipal business administration sector, and the State property transfer certificate was established by the municipal State asset control authority.
Article 24 It is true that a instalment of payments will be required, for the first time the payment shall be paid within 5 days of the date of entry into force of the contract and shall not be less than 30 per cent of the total price, and that no payment shall be made. The deadline for the payment of instalments shall not exceed one year.
Article 25 Transfers of net proceeds from corporate State property rights, and treasury, are treated in accordance with the relevant national provisions.
Article 26, in the context of the transfer of corporate national property rights, the transferee and the licensee have one of the following acts, and the same-level State asset monitoring authority or the same-level government should request the transferor to terminate the transfer of property, and, if necessary, to bring the transfer to the People's Court in order to confirm the invalidity of the transfer:
(i) No transfer in the property trading system, as specified in the relevant provisions of this approach;
(ii) The transferor does not perform the corresponding internal decision-making, approval process or goes beyond the authority, the unauthorized transfer of corporate property;
(iii) The transferor deliberately conceals assets that should be covered by the scope of the assessment or provides false accounting information to the intermediary agencies, leading to audit, assessment of the actuality of the results and the loss of State assets without audit, assessment;
(iv) A combination of the transferee and the licensee, a low-cost transfer of corporate property, resulting in loss of State assets;
(v) The transferee does not provide for the proper placement of the worker, the continuation of social insurance relations, the processing of the obligations owed to the employee and the violation of the legitimate rights and interests of the worker;
(vi) In cases where the transferor does not have a claim for the implementation of the transfer's mark, the unlawful transfer of claims or the avoidance of liability for the liquidation of the debt, the transfer of corporate property as a security-based enterprise State property, without the consent of the security right;
(vii) The use of fraud and concealment by the licensee to influence the parties' conclusion of the property transfer contract;
(viii) Disadvantages of low prices in competing prices for property transfers, resulting in loss of State assets.
The transferee has the direct responsibility and other direct responsibilities, which are warned by the same-ranking State asset control authority or by the relevant enterprise in accordance with the terms of personnel management, in the event of serious deducting all or part of the annual salary while granting disciplinary action; causing loss of State assets shall be compensated in accordance with the law; suspected crimes are transferred to the judiciary.
In violation of this approach by State asset monitoring authorities and their staff members, one of the following acts has been changed by a competent authority, in accordance with the competent authority of the Ministry of Management, and administrative disposition of the main responsible personnel, suspected of committing crimes, to the judiciary:
(i) The unauthorized approval or exercise of the right to self-defence resulting in the loss of State assets;
(ii) Illegal intervention in the transfer of State property rights;
(iii) Non-fulfilment of statutory responsibilities;
(iv) To use its mandate to illegally possession of public property, to seek, receive abribes, or to misuse its functions and toys them.
Article 28 deals with property rights in the corporate State's property transaction with a false or toys negligence, which undermines the interests of the State or the legitimate interests of both parties, and is held accountable by the competent body under the law.
Article 29 introduces the enterpriseization management unit and transfers its own fiduciary State property to activities of natural persons, legal persons or other organizations within and outside the territory, taking into account the implementation of this approach, and performs the approval duties by the financial sector.
Article 33 sells important assets from State-owned enterprises, business-managed business units, including the accompanying transfer of land assets involving corporate acquisitions, mergers and equity transfers, taking into account this approach. Other land-use transactions are implemented in accordance with the relevant provisions of national and municipal governments.
The criteria for important State-owned assets are provided by the municipal State-owned asset monitoring authority; important asset standards for the establishment of enterprise-management units are provided by the municipal financial sector.
The number of “more” and “in-house” is contained in Article 31.
Article 32 is implemented since the date of publication.