Strengthening Administration of Equity Investment Enterprise
2013-May-20 Source: Newsgd.com
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On March, 18, 2013, National Development and Reform Commission (NDRC) issued Circular on Strengthening Filing Administration of Equity Investment Enterprise (Fagaibancaijin [2013] No. 694, “Circular”). The Circular calls for speeding up record-filing administration of equity investment enterprise and requires local authority to issue relevant rules in the form of governmental regulations no later than June of this year. If the local government has difficulty to issue such regulations, departmental regulations may be the alternative in order to establish a nationwide record-filing system.

If equity investment enterprise or equity management enterprise fail to comply with regulations in public or private placement, securities investment, derivatives investment and loan granting, it shall rectify its wrongdoing within prescribed time. In failure of rectification, it will be “blacklisted” as non-compliance enterprise on governmental website.

In managing PE/VC and their legal representatives, NDRC will work with People’s Bank to select qualifying credit rating institutes and recommend them to the public.

(This information is provided by Lawyer Kelly Xie from Guangdong KaiTong Law Firm in friendship. It is not any legal opinion or legal grounds addressed to any organization or individual. For inquiry, please contact Kelly via email at Kelly_xie@ktlf.com.cn or by phone on 13926185641.)

Editor: Olivia
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