China Banking Regulatory Commission Trust Implementation Measures For Administrative Licensing Items

Original Language Title: 中国银监会信托公司行政许可事项实施办法

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  Chapter I General provisions article implemented to regulate the CBRC and its local agencies trust administrative permission, clear administrative licensing items, conditions, procedures and time limit for, protect legitimate rights and interests, in accordance with the People's Republic of China banking supervision law and the People's Republic of China Law on administrative licensing, laws, administrative regulations and the relevant decisions of the State Council, these measures are formulated.

Second trusts in these measures refers to, in accordance with the People's Republic of China company law, the People's Republic of China banking supervision law and the management of trusts established by financial institutions mainly engaged in trust businesses.

Article CBRC and its local agencies in accordance with this approach and the China Banking Regulatory Commission for the implementation of administrative licensing procedures regulations, the implementation of administrative licensing of trust companies.

Fourth trust company to the following matters shall be licensed by the CBRC and its local agencies: institutions, institutional change, termination, adjusting the scope of business and increasing business varieties, qualifications of Directors and senior management, as well as the laws, administrative rules and regulations and the decisions of other administrative licensing items.

Applicants shall, in accordance with section v of the China Banking Regulatory Commission trust of administrative licensing matters concerning application materials list and format requirements for submitting application materials. Second chapter institutions established first section trust corporate institutions established sixth article established trust corporate institutions should has following conditions: (a) has meet People's Republic of China company law and silver prison will provides of company articles; (ii) has meet provides conditions of funded people, including territory non-financial institutions, and territory financial institutions, and outside financial institutions and silver prison will recognized of other funded people; (three) registered capital for one-time real paid capital, minimum limit for 300 million Yuan Yuan or equivalent of can free exchange currency

; Processing trust Affairs not perform personally management duties, that not bear investment management people duties of, minimum limit for 100 million Yuan Yuan or equivalent of can free exchange currency; (four) has meet served qualification conditions of Director, and senior management personnel and with business phase adapted of qualified of trust practitioners; (five) has sound of organization institutions, and management system, and risk control mechanism; (six) has and business business phase adapted of business places, and security prevention measures and other facilities;

(VII) establish a commensurate with the business and regulatory requirements for information technology architecture, has the support necessary for business, security and compliance of information systems, technologies and measures to protect business continuity operations; (VIII) other prudent requirements as prescribed by the regulations of the CBRC.

Seventh article territory non-financial institutions as trust funded people, should has following conditions: (a) law established, has corporate qualification; (ii) has good of company governance structure or effective of organization management way; (three) has good of social reputation, and integrity records and tax records; (four) business management good, recently 2 years within no major illegal violations business records; (five) financial status good, and recently 2 a fiscal year continuous profit; (Six) recently 1 a fiscal year late net assets not below assets total of 30%; (seven) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares; (eight) single funded people and associated party investment shares trust shall not over 2 home, which absolute holding shall not over 1 home; (nine) commitment 5 years within not transfer by holding some trust equity (Silver prison will law ordered transfer of except), and not will by holding some trust equity for pledge or established trust,

And set out in the proposed articles of Association; (j) other prudent requirements as prescribed by the regulations of the CBRC.

Article eighth as trust investors in financial institutions, should have a good system of internal control mechanisms and risk management, consistent with the financial institutions relating to the laws, rules, regulations, and this way the seventh (sixth except) the conditions laid down. Nineth article outside financial institutions as trust funded people, should has following conditions: (a) recently 1 a fiscal year late total assets in principle not less than 1 billion dollars; (ii) has international related financial business business management experience; (three) silver prison will recognized of international rating institutions recently 2 years on its made of long-term credit rating for good and the above; (four) financial status good, recently 2 a fiscal year continuous profit; (five) meet where national or area legal regulations and the regulatory authorities of carefully regulatory requirements,

Recently 2 years within no major illegal violations business records; (six) has good of company governance structure, and internal control mechanism and sound of risk management system; (seven) single funded people and associated party investment shares of trust shall not over 2 home, which absolute holding shall not over 1 home; (eight) commitment 5 years within not transfer by holding some trust equity (Silver prison will law ordered transfer of except), and not will by holding some trust equity for pledge or established trust, and in intends set company articles in the contains Ming;

(IX) country financial supervision authority has established good cooperation on supervision and management mechanism of the CBRC; (j) effective measures against money-laundering and (11) the country or region where the economy is in good condition, (12) other prudent requirements as prescribed by the regulations of the CBRC.

As the investor invested in overseas financial institutions trust companies should follow the loyalty, optimize governance and business cooperation, the principle of competition is avoided.

CBRC according to financial risks and regulatory needs, adjusting the foreign financial institution as a condition for investors.

Tenth article has following case one of of, shall not as trust of funded people: (a) company governance structure and management mechanism exists obviously defects; (ii) associated Enterprise many, and equity relationship complex and not transparent, and associated trading frequently and exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level; (six) generation others holds trust equity;

(VII) other significant adverse impact on the trust company.

11th trust company shall cover the establishment and opened in two stages. 12th to build trust, should be funded by most investors as the applicant submit an application to be established banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. 13th trust establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

The applicant shall submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 14th trust company opened, should be financed by the largest proportion of contributors as applicants submitting applications to the banking Board to be established, by the banking regulatory Bureau to receive, review and decision.

Banking Board acceptance within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

15th the applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Trust company shall obtain business licenses within 6 months of opening. Cannot be opened, shall be opened before the expiration of 1 month to the proposed banking Board opened an extension report submitted.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission, issuing authority to recover financial license, and shall be published.

Second section investment established, and shares, and acquisition outside institutions 16th article trust application investment established, and shares, and acquisition outside institutions, applicants should meet following conditions: (a) has good of company governance structure, internal control sound effective, business article line management and risk tube control capacity and outside business development phase adapted; (ii) has clear of overseas development strategy; (three) has good of and table management capacity; (four) meet carefully regulatory index requirements;

(E) equity investment balances in principle not more than its net assets of 50% and (vi) the last 2 consecutive profit in the fiscal year, (VII) and professionals adapting to the environment in an overseas operation; (h) the last 2 years no serious violations and major cases due to internal management issues and (IX) other prudent requirements as prescribed by the regulations of the CBRC.

Foreign institutions referred to in the preceding paragraph refers to the CBRC authorized financial institutions and business operators. 17th trust company to apply for investment, equity participation, the acquisition of foreign institutions the local banking regulatory Bureau to receive, review and make decisions.

The CBRC within 6 months from date of acceptance to approve or disapprove the decision in writing and reported to the CBRC.

Trust company approved by the banking regulatory Bureau documents should be established in accordance with the proposed investment, equity participation, the acquisition of foreign institutions registered in national or regional laws and regulations go through relevant legal procedures, and after the completion of the legal procedures in the 15th report to the CBRC set up, shares or acquire foreign institutional names, set up time, place of registration, registered capital, and currency.

Chapter III institutional change 18th trust institutional changes included: change of name, change of ownership or change of equity structure, which changes its registered capital, it changes its domicile, amending the articles, separation or merger, as well as other changes that require the approval of the CBRC.

19th trust company change of name by the CBRC local city or state banking regulatory Bureau to receive, review and make decisions. The CBRC or CBRC within 3 months from the date of acceptance of approval or disapproval of a written decision.

By the banking regulatory Board decisions, decisions should be reported to the CBRC; decided by the CBRC, decided should be reported to the banking regulatory Bureau and the China Banking Regulatory Commission.

The 20th change of ownership or change of equity structure of the trust company, intends to invest in capital contributions shall meet the conditions provided for in article seventh to tenth.

Equity investment trust fund, should be complete, true to disclose their relationship and eventually the actual control.

21st all contributors of equity investment trusts and the trust company change of ownership or change of equity structure shall be approved, but a separate holding or trust company jointly owned by related parties listed shares falls short of the company's total shares in circulation except 5%.

22nd due to changes in actual control of a trust company caused by the change of ownership or adjustment of ownership structure, the local banking regulatory Commission Office and a preliminary review, the CBRC examination and decision, the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Trust company change of ownership or change of equity structure due to other reasons, by the CBRC local city or State Banking Regulatory Commission Office and a preliminary review, the banking regulatory Bureau review and decision, banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

23rd trust company application to change the registered capital, subject to the following conditions: (a) after the change of its registered capital in line with the CBRC to trust company lowest registered capital and net capital management provisions; (b) increase its registered capital to involve new investors, new investor shall conform to the conditions laid down in article 20th and (iii) other prudent requirements as prescribed by the regulations of the CBRC.

24th trust company application to change the registered capital of the licensing procedures apply provisions of 19th, which changes its registered capital related to change of ownership or change of equity structure, licensing procedure for the provisions of this article 22nd. Trust company shares through a rights issue or raise fresh changes of registered capital, in front of the change of its registered capital, should also raise new shares through a rights issue or programme administrative permission.

Licensing procedures prescribed in the previous paragraph.

25th trust IPO and listing of shares, shall comply with the relevant provisions and supervision Department under the State Council, before application to the China Securities Regulatory Commission, shall apply to the China Banking Regulatory Commission and approved. Public share offer and listing of shares of the trust company, by the CBRC local city or State Banking Regulatory Commission Office and a preliminary review, the banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

26th trust company changes its domicile, should be consistent with the business development business premises, safety measures and other facilities. Trust company changes its domicile, by the CBRC local city or state banking regulatory Bureau to receive, review and make decisions.

The CBRC or banking regulatory Bureau within 2 months from the date of acceptance of approval or disapproval of a written decision, and reported to the CBRC.

27th trust company amended articles of Association shall comply with the People's Republic of China law, the administrative measures for trust companies and other relevant provisions of laws and regulations.

28th trust company to apply for licensing procedures for amending the articles of these measures shall apply to provisions of article 19th.

Trust company change of name, residence, ownership, registered capital, business scope, shall make an approval decision decision decision to modify the corresponding provisions of the regulations and report within 6 months.

29th trust Division shall comply with the relevant laws, administrative regulations and rules and regulations. Trust Division, an application shall be submitted to the local banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Separation of existence, after the expiry of the notice in the Division, the survivor should be in accordance with the changes of conditions and procedures for the adoption of an administrative license; the new party should be opened in accordance with legal conditions and procedures via administrative permission.

The new Division, after the expiry of the notice in the Division, the new party should be opened in accordance with legal conditions and procedures via administrative permission; the original dissolution of the Corporation shall, in accordance with legal conditions and procedures via administrative permission.

30th merge a trust company shall comply with the relevant laws, administrative regulations and rules and regulations. Merger, merged their banking regulatory Bureau to apply and merge the banking regulatory Bureau, where reported to be absorbed, and accepted by the CBRC merger is located and preliminary examination, the China Banking Regulatory Commission review and decision. Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Merged banking regulatory Bureau, where in the first instance report the CBRC should be sought before merger where views of the CBRC.

Merger announcement after the expiration, merged party shall change the conditions and procedure for the adoption of an administrative license; was dissolved by merger shall, according to legal conditions and procedures via administrative permission. Merger by new establishment, by one party as the primary institutions submit their applications to the local banking regulatory Bureau and copied to the other party where banking regulatory Bureau, accepted by the main local banking regulatory Bureau and preliminary examination, the China Banking Regulatory Commission review and decision. Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Local banking regulatory Bureau in advance of the trial reported the CBRC should seek the views of other banking regulatory Bureau, where.

Merger by new establishment notice after the expiry, the new agency should be opened in accordance with legal conditions and procedures by administrative license; original Corporation should be dissolved in accordance with legal conditions and procedures via administrative permission.

Fourth chapter ending 31st trust corporation meets one of the following situations may apply for dissolution: (a) articles of time or other circumstances that warrant the dissolution of business; (b) the shareholders ' Meeting decides to dissolve; (c) due to the dissolution of the merger or Division needs; (d) other legal cause. Article 32nd dissolution of the trust, an application shall be submitted to the local banking regulatory Bureau, receive and initial review of CBRC, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

33rd trust due to dissolved is divided or merged, together with the Division or merger for approval.

34th article trust has following case one of of, to court application bankruptcy Qian, should to silver prison will application and get approved: (a) cannot settlement due debt, and assets insufficient to settlement all debt or obviously lack settlement capacity, voluntary or should its creditors requirements application bankruptcy of; (ii) has dissolved but not liquidation or not liquidation finished, law has liquidation responsibility of people found the institutions assets insufficient to settlement debt, should application bankruptcy of. 35th trust company before filing for bankruptcy to the Court, an application shall be submitted to the local banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Fifth chapter adjustment business range and increased business varieties first section trust enterprise annuity fund management business qualification 36th article trust application Enterprise annuity fund management business qualification, should has following conditions: (a) has good of company governance and internal control system; (ii) meet carefully regulatory index requirements; (three) regulatory rating good; (four) recently 2 years no major illegal violations business records; (five) has and opened Enterprise annuity fund management business phase adapted of internal control system and the risk management system

(Vi) and the introduction of qualified professionals in the corporate pension fund management business to adapt; (VII) with the business operations of security and compliance information systems, technologies and measures to protect business continuity operations; (VIII) other prudent requirements as prescribed by the regulations of the CBRC. 37th trust company eligibility criteria for pension fund management business shall be submitted to the CBRC local city or state banking regulatory Bureau application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

Second section trust specific purpose trust trustee institutions qualification 38th article trust application specific purpose trust trustee institutions qualification, should has following conditions: (a) completed again registration 3 years above; (ii) registered capital not below 500 million Yuan Yuan or equivalent of can free exchange currency, and recently 2 years end by requirements mention foot all reserves Hou, net worth not below 500 million Yuan Yuan or equivalent of can free exchange currency; (three) proprietary business assets status and liquidity good, meet about regulatory requirements; (Four) has good of social reputation and business performance; (five) meet carefully regulatory index requirements; (six) regulatory rating good; (seven) recently 2 years no major illegal violations business records; (eight) has good of company governance and internal control system, perfect of trust business operation process and risk management system; (nine) has perform specific purpose trust trustee institutions duties by need of professionals; (ten) has and business business phase adapted of security and collection rules of information system,

Technology and measures to protect business continuity operations; (11) in accordance with the requirements to disclose the company's annual report, (12) other prudent requirements as prescribed by the regulations of the CBRC. 39th trust company to apply for a specific purpose trust trustee qualifications, shall be submitted to the CBRC local city or State Banking Regulatory Commission Council application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

40th trust trust company trustee qualifications for specific purposes before the issuance of asset-backed securities as the product, to the CBRC, the CBRC report and copy to the CBRC.

Third section trust trustee outside financial business qualification 41st article trust application trustee outside financial business qualification, should has following conditions: (a) has good of company governance, and risk management system and internal control; (ii) registered capital not below 1 billion Yuan Yuan or equivalent of can free exchange currency; (three) by approved has business exchange business qualification, and has good of carried out exchange business of experience; (four) meet carefully regulatory index requirements; (five) regulatory rating good;

(Six) recently 2 years no major illegal violations business records; (seven) recently 2 a fiscal year continuous profit; (eight) equipped with can meet trustee outside financial business need and has outside investment management capacity and experience of professional talent (engaged in foreign currency securities sale Business 2 years above of professional management personnel not less than 2 people); has independent carried out trustee outside financial business of sector, on trustee outside financial business concentrated accepted, and unified operation, and split management;

(Nine) has meet trustee outside financial business need of risk analysis technology and risk control system; has meet trustee outside financial business need of business places, and security prevention facilities and other related facilities; in trust business and inherent business Zhijian established has effective of isolation mechanism; (ten) has and business business phase adapted of security and collection rules of information system, has guarantees business continued operation of technology and measures; (11) silver prison will regulations provides of other carefully sex conditions. 42nd trust company to apply for trustee qualification of overseas financing, should be submitted to the CBRC local city or State Banking Regulatory Commission Council application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

After the 43rd trust company trustee qualification of overseas wealth management business made, offer trustee overseas wealth management business should be located before the CBRC, the CBRC report and copy to the CBRC. Fourth section trust index futures trading, derivative products trading business qualification 44th article trust application index futures trading business qualification, should has following conditions: (a) meet carefully regulatory index requirements; (ii) regulatory rating good; (three) recently 2 years no major illegal violations business records; (four) has perfect effective of index futures trading internal control system and risk management system; (five) has accept related futures trading skills specifically training half above, and through futures practitioners Qualification exam, and Engaged in related futures trading 1 years above of trading personnel at least 2 name, related risk analysis and management personnel at least 1 name, familiar sets period accounting operation program and system specification of personnel at least 1 name, above personnel mutual shall not who, and no bad records; futures trading business competent personnel should has 2 years above directly participation futures trading activities or risk management of experience, and no bad records; (six) has meet this approach 45th article requirements of information system; (seven) has engaged in Exchange need of business places, and

Security prevention facilities and other related facilities; (eight) has strictly of business separation system, ensure sets period hedge class business and non-sets period hedge class business of market information, and risk management, and profit and loss accounting effective isolation; (nine) application opened to speculation for purpose of index futures trading, should has carried out sets period hedge or arbitrage business a years above; (ten) silver prison will regulations provides of other carefully sex conditions.

45th article trust company opened index futures trust business, information system should meet following requirements: (a) has reliable, and stable, and efficient of index futures trading management system and the index futures valuation system, can meet index futures trading and the valuation of need; (ii) has risk control system and risk control module, can achieved on index futures trading of real-time monitoring; (three) will index futures trading system into risk control index dynamic monitoring system, ensure the risk control index meet provides standard;

(D) trust companies to cooperate with the futures company information systems at least lay a dedicated line connection, and create a backup channel. 46th trust company eligibility criteria for stock index futures and other derivatives trading business to the CBRC local city or state banking regulatory Bureau submitted the application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

47th trust to the application with the exception of stock index futures trading qualifications other derivatives trading business qualifications, shall comply with the related regulations of the CBRC.

Fifth section trust issued financial bonds, and secondary bonds 48th article trust company issued financial bonds, and secondary bonds and the law must by Silver prison will license of debt tool and capital added tool, except should meet company law provides of conditions outside, also should has following conditions: (a) has good of company governance, and risk management system and internal control, has appropriate of business isolation and internal control technology support system; (ii) meet carefully regulatory index requirements; (three) regulatory rating good;

(D) within the last 2 years no major violation records; (e) the last 2 consecutive profit in the fiscal year, a stable earnings; (vi) no maturity cannot pay debts, and (VII) other prudent requirements as prescribed by the regulations of the CBRC. 49th trust company application for issuing financial bonds, subordinated bonds and debt instruments shall be licensed by the CBRC according to law and the capital shall be submitted to the CBRC local city or state banking regulatory Bureau application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

Sixth section trust opened other new business 50th article trust application opened other new business, should has following basic conditions: (a) has good of company governance, and risk management system and internal control; (ii) meet carefully regulatory index requirements; (three) regulatory rating good; (four) recently 2 years within no major illegal violations business records; (five) has effective recognition and control new business risk of management system; (six) has opened new business by needed of qualified management personnel and business personnel;

(VII) with the business operations of security and compliance information systems, technologies and measures to protect business continuity operations; (VIII) other prudent requirements as prescribed by the regulations of the CBRC.

Other new business referred to in the preceding paragraph, refers to the first section of this chapter to the fifth section has clearly stipulated in the existing laws and regulations other than the business could offer, but trustees have not yet started business. 51st trust companies establish new business shall be submitted to the CBRC local city or state banking regulatory Bureau application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

52nd applications for operating the existing law does not expressly provide for a trust company business from the CBRC separately.

The sixth chapter directors and qualifications section of job qualifications for senior managers the 53rd trust Chairman, Vice Chairman, independent Director, and other members of the Board of Directors and Secretary of the Board, subject to the qualification license.

Trust company (CEO/President), Deputy General Manager (Vice President), Chief Risk Officer (Chief Risk Officer), Chief Financial Officer (CFO), Chief Accountant, Chief Auditor (General audit), Chief Operating Officer (COO), Chief Information Officer (CIO), Assistant to the General Manager (Executive Assistant) and other senior management personnel, subject to the qualification license.

Others did not serve in these positions, but the practical implementation of the first two listed directors and responsibilities of senior management personnel, subject to the qualification license.

54th article application trust Director and senior management personnel served qualification, intends any people should has following basic conditions: (a) has completely civil capacity; (ii) has good of law-abiding collection rules records; (three) has good of conduct, and reputation; (four) has served as intends any positions by needed of related knowledge, and experience and the capacity; (five) has good of economic, and financial, practitioners records; (six) personal and the family financial sound; (seven) has served as intends any positions by needed of independence;

(H) to fulfil its obligations to the faithfulness and diligence of financial institutions. 55th article intends any people has following case one of of, considered not meet this approach 54th article subsection (ii) items, and subsection (three) items, and subsection (five) items provides of conditions, shall not served as trust Director and senior management personnel: (a) has deliberately or major fault crime records of; (ii) has violation social morality of bad behavior, caused bad effect of; (three) on had served institutions illegal violations business activities or major loss has personal responsibility or directly led responsibility, plot serious of; (four) served as or had any was took over, and Revoked, and declared bankruptcy or revoked license institutions Director or senior management personnel of, but can proved I on had served institutions was took over, and revoked, and declared bankruptcy or revoked license not has personal responsibility of except; (five) for violation ethics, and conduct or work serious dereliction of, caused major loss or bad effect of; (six) directed, and participation by served institutions not tie law regulatory or case investigation of; (seven) was canceled lifelong of Director and senior management personnel served qualification,

Or by regulators or other penalties total more than 2 times the financial management Department; (VIII) does not have the qualifications as provided herein, improper means to obtain the qualification approval. 56th article intends any people has following case one of of, considered not meet this approach 54th article subsection (six) items, and subsection (seven) items, and subsection (eight) items provides of conditions, shall not served as trust Director and senior management personnel: (a) as application served qualification Shi, I or its spouse still has amounts larger of late debt failed to reimbursement, including but not limited to in the trust of late debt; (ii) I and near relatives merged holds the trust 5% above shares, And total amount of credit obtained from the trust significantly exceed its net value of the trust company owned;
(Three) I and by holding of trust shareholders units merged holds the trust 5% above shares, and from the trust get of award letter total obviously over its holding some the trust equity net; (four) I or its spouse in holds the trust 5% above shares of shareholders units served, and the shareholders units from the trust get of award letter total obviously over its holding some the trust equity net, but can proved award letter and I and spouse no relationship of except;

(E) there are other positions in the trust to be appointed, current functions have obvious conflicts of interest, or clearly separated its trust duties of time and energy.

57th article application trust Director served qualification, intends any people except should meet 54th article to 56th article of provides outside, also should has following conditions: (a) has 5 years above of economic, and financial, and legal, and accounting or other conducive to perform Director duties of work experience, which intends served as independent Director of also should is economic, and financial, and legal, and accounting, aspects of professional people; (ii) can using trust of financial report and statistics report judge trust of business management and risk status;

(C) understand the proposed trust company's corporate governance structure, articles of Association and Board responsibilities, and familiar with the rights and obligations of the directors.

58th article except shall not exists 55th article, and 56th article by column case outside, trust independent Director intends any people also shall not exists following case: (a) I and near relatives merged holds the trust 1% above shares or equity; (ii) I or its near relatives in holds the trust 1% above shares or equity of shareholders units served; (three) I or its near relatives in the trust, and the trust holding or actual control of institutions served;

(Four) I or its near relatives in cannot regular reimbursement the trust debt of institutions served; (five) I or its near relatives served of institutions and I intends served trust Zhijian exists legal, and accounting, and audit, and management advisory, and guarantees cooperation, aspects of business contact or claims debt, aspects of interests relationship, that hamper its shoe vocational independence of case; (six) I or its near relatives may was intends served trust big shareholders, and executives layer control or imposed major effect, that hamper its shoe vocational independence of other case;

(VII) I have been serving in other trusts. 59th article application trust Chairman, and Deputy Chairman and Board Secretary served qualification, intends any people except should meet 54th article to 57th article of provides outside, also should respectively meet following conditions: (a) intends any trust Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 5 years above, or engaged in related economic work 10 years above (which engaged in financial work 3 years above); (ii) intends any trust Board Secretary, should has undergraduate above degree,

Engage in trust business more than 5 years, or other financial work in more than 8 years. 60th article application trust senior management personnel served qualification, intends any people except should meet 54th article to 56th article of provides outside, also should meet following conditions: (a) served as General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in trust business 5 years above, or engaged in other financial work 8 years above; (ii) served as operation Director (Chief operation officer) and General Manager Assistant (President Assistant) and actual perform senior management personnel duties of personnel,

Served qualification conditions mutatis mutandis General Manager (CEO, and President), and Deputy General Manager (Deputy President) of served qualification conditions implementation; (three) served as financial Director (Chief Financial Officer), and Chief Accountant, and total Audit Division (total audit), should has undergraduate above degree, engaged in financial, and accounting or audit work 6 years above; (four) served as risk Director (Chief Risk Officer), should has undergraduate above degree, engaged in financial institutions risk management work 3 years above, or engaged in other financial work 6 years above;

(E) information officer (CIO), should have Bachelor degree or above, majored in information technology work for more than 6 years.

The 61st person to be appointed does not meet the above requirements, but made the National Administrative Department for education at approved institutions granting Bachelor deemed to meet academic requirements.

The 62nd person to be appointed does not meet the above requirements, but access to certified public accountants, registered Auditors or to (now) positions of senior professional and technical qualification deemed to meet academic requirements, the qualifications for working years required a corresponding increase in 4 years. Section II qualifications for licensing the 63rd trust company applies for approval of Directors and senior management personnel qualifications shall be submitted to the CBRC local city or state banking regulatory Bureau application, accepted by the CBRC or banking regulatory Bureau and preliminary audit, banking regulatory Board for review and decision.

Banking regulatory Bureau of the acceptance date or from the date of receipt of complete application materials within 30th approve or not to approve a written decision, and reported to the CBRC.

64th trust new was established, the qualifications of Directors and senior management applications, opening in accordance with the Agency's licensing procedures, examine and decide together. 65th senior management personnel qualifications and did not break serve for 1 year in a row over the person to be appointed within the same legal entity, parallel duties or became a low duty of a similar nature, do not need to reapply for qualification.

People should to be appointed after the 5th report to the location of the working bodies of the CBRC. 66th trust company to be appointed Chairman and General Manager of qualifications without the prior permission, trust company should be in the existing directors and senior managers met the qualifications specified in duties on behalf of the person, and from the specified date of the decision in the 3rd report to the decision on the qualification license authority.

Duties on his behalf does not meet the qualifications of the personnel, regulators could order the trust company to adjust duties on his behalf within the staff. Duty hours shall not exceed 6 months.

Trust company shall, within 6 months of employing personnel with qualifications officially. The seventh chapter supplementary articles article 67th permission to institutional changes, the trust company shall, within 6 months from the date of the decision to complete the statutory procedures, and to report to the local bodies of the CBRC.

Allowed qualifications of Directors and senior management, to be appointed who shall, within 3 months from the date of the decision formally to any, and report to the local bodies of the CBRC.

Is not completed within the time limit prescribed in the preceding paragraph changes or any of, the licensing file failure, up to cancellation of administrative licensing.

68th trust company established, ending matters, involving amendment of registration of industry and commerce, taxation, and legal procedures, shall within 1 month after completion of the statutory procedures the CBRC report and the local bodies of the CBRC.

69th overseas in these measures including Hong Kong, Macao and Taiwan regions.

70th article this way in the "days" are working days, and "above" all contain the number or level.

71st unless otherwise indicated, in this way the financial requirements for consolidated accounting statement basis.

72nd Fund of Chinese trust industry limited liability company, trust the registration authority in accordance with the measures implemented.

73rd explain these measures by the CBRC.

74th these measures come into force on the date of promulgation. 75th these measures prior to the implementation of the relevant provisions of the inconsistent with these measures, in accordance with these rules.

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