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Regulation on Financial Asset Management Companies [Effective]
金融资产管理公司条例 [现行有效]
【法宝引证码】

 
Order of the State Council of the People's Republic of China 

中华人民共和国国务院令


(Order No. 297)
 
(第297号)


The Regulation on Financial Asset Management Companies, which was adopted at the 32nd executive meeting of the State Council on November 1, 2000, is hereby promulgated and shall come into force as of the day of promulgation.
 
《金融资产管理公司条例》已经2000年11月1日国务院第32次常务会议通过,现予公布,自公布之日起施行。

Premier Zu Rongji
 
总理 朱镕基

November 10, 2000
 
二000年十一月十日

Regulation on Financial Asset Management Companies
 
金融资产管理公司条例

 
Chapter I General Provisions 

第一章 总则


 
Article 1 The present Regulation is formulated in order to regulate the activities of financial asset management companies, dispose of the non-performing loans (NPLs) of state-owned banks according to law and promote the reform and development of state-owned banks and enterprises.   第一条 为了规范金融资产管理公司的活动,依法处理国有银行不良贷款,促进国有银行和国有企业的改革和发展,制定本条例。

 
Article 2 The term “financial asset management company” refers to a wholly state-owned non-banking financial institution that has been established upon the decision of the State Council to purchase the NPLs of state-owned banks as well as to manage and dispose of any assets resulting from purchase of the NPLs of state-owned banks.   第二条 金融资产管理公司,是指经国务院决定设立的收购国有银行不良贷款,管理和处置因收购国有银行不良贷款形成的资产的国有独资非银行金融机构。

 
Article 3 A financial asset management company shall establish a major business target of preserving assets and reducing losses to the largest extent and independently bear its civil liabilities according to law.   第三条 金融资产管理公司以最大限度保全资产、减少损失为主要经营目标,依法独立承担民事责任。

 
Article 4 The People's Bank of China, the Ministry of Finance and China Securities Regulatory Commission shall, according to their respective statutory functions and duties, carry out supervision and administration of financial asset management companies.   第四条 中国人民银行、财政部和中国证券监督管理委员会依据各自的法定职责对金融资产管理公司实施监督管理。

 
Chapter II Establishment and Business Scope of Financial Asset Management Companies 

第二章 公司的设立和业务范围


 
Article 5 The registered capital of a financial asset management company shall be RMB 10 billion yuan, which shall be subject to the examination and allocation of the Ministry of Finance.   第五条 金融资产管理公司的注册资本为人民币100亿元,由财政部核拨。

 
Article 6 A financial asset management company shall hold a License of Legal-person Financial Institutions as issued by the People's Bank of China and shall go to the administrative department for industry and commerce to handle the formalities for registration according to law.   第六条 金融资产管理公司由中国人民银行颁发《金融机构法人许可证》,并向工商行政管理部门依法办理登记。

 
Article 7 The establishment of any branch of a financial asset management company shall be subject to the approval of the Ministry of Finance as well as be reported to the People's Bank of China for approval. A newly established branch shall hold a Business License of Financial Institutions as issued by the People's Bank of China and shall go to the administrative department for industry and commerce to handle the formalities for registration according to law.   第七条 金融资产管理公司设立分支机构,须经财政部同意,并报中国人民银行批准,由中国人民银行颁发《金融机构营业许可证》,并向工商行政管理部门依法办理登记。

 
Article 8 A financial asset management company shall have a president and several vice-presidents, who shall be subject to the appointment of the State Council. The president shall exercise his power on behalf of the financial asset management company to the outside and take charge of the business operation and management of the financial asset management company.   第八条 金融资产管理公司设总裁1人、副总裁若干人。总裁、副总裁由国务院任命。总裁对外代表金融资产管理公司行使职权,负责金融资产管理公司的经营管理。

The post-holding qualification of senior managers of a financial asset management company shall be subject to the examination of the People's Bank of China.
 
金融资产管理公司的高级管理人员须经中国人民银行审查任职资格。

 
Article 9 The composition, functions and duties as well as working procedures of the board of supervisors of a financial asset management company shall be implemented according to the Interim Regulation on the Board of Supervisors of Important State-owned Financial Institutions
快醒醒开学了
.
   第九条 金融资产管理公司监事会的组成、职责和工作程序,依照《国有重点金融机构监事会暂行条例》执行。

 
Article 10 A financial asset management company may, within the scope of the NPLs of state-owned banks as purchased thereby, undertake the following practice when managing and disposing of any asset resulting from purchase of the NPLs of state-owned banks:   第十条 金融资产管理公司在其收购的国有银行不良贷款范围内,管理和处置因收购国有银行不良贷款形成的资产时,可以从事下列业务活动:

 
(1) Recoursing debts; (一)追偿债务;

 
(2) Leasing any asset resulting from the NPLs as purchased thereby or transferring or reorganizing the aforesaid asset by any other means; (二)对所收购的不良贷款形成的资产进行租赁或者以其他形式转让、重组;

 
(3) Swapping debt right to stock right and holding stocks of the relevant enterprise on a stage basis; (三)债权转股权,并对企业阶段性持股;

 
(4) Recommending the listing of a company that falls into its scope of asset management as well as underwriting the bonds and stocks thereof; (四)资产管理范围内公司的上市推荐及债券、股票承销;

 
(5) Issuing financial bonds and borrowing loans from financial institutions; (五)发行金融债券,向金融机构借款;

 
(6) Undertaking financial or legal consulting as well as the appraisal of assets and projects; and (六)财务及法律咨询,资产及项目评估;

 
(7) Undertaking any other practice as approved by the People's Bank of China and China Securities Regulatory Commission. (七)中国人民银行、中国证券监督管理委员会批准的其他业务活动。

A financial asset management company may apply for a re-loan with the People's Republic of China.
 
金融资产管理公司可以向中国人民银行申请再贷款。

 

第三章 收购不良贷款的范围、额度及资金来源

Chapter III Scope, Ration and Fund Sources of NPL Purchase 

   第十一条 金融资产管理公司按照国务院确定的范围和额度收购国有银行不良贷款;超出确定的范围或者额度收购的,须经国务院专项审批。
Article 11 A financial asset management company shall, according to the scope and ration as decided by the State Council, purchase the NPLs of state-owned banks. Any purchase that oversteps the scope and ration as decided shall be subject to a special examination of the State Council. 

   第十二条 在国务院确定的额度内,金融资产管理公司按照账面价值收购有关贷款本金和相对应的计入损益的应收未收利息;对未计入损益的应收未收利息,实行无偿划转。
Article 12 Within the scope of ration as decided by the State Council, a financial asset management company may purchase the relevant credit principal as well as the corresponding uncollected receivable interests that shall be calculated into the gains and losses in light of the relevant book value. For any uncollected receivable interests that haven't been calculated into the gains and losses, a free transfer shall be made, 

   第十三条 金融资产管理公司收购不良贷款后,即取得原债权人对债务人的各项权利。原借款合同的债务人、担保人及有关当事人应当继续履行合同规定的义务。
Article 13 Where a financial asset management company purchases any NPL, it instantly obtains all the rights as held by the original creditor on the debtor. The debtor, guarantor as well as the relevant parties concerned of an original loaning contract shall continue to perform their obligations as stipulated by the contract. 

   第十四条 金融资产管理公司收购不良贷款的资金来源包括:
Article 14 The fund sources for a financial asset management company to purchase NPLs include: 

 (一)划转中国人民银行发放给国有独资商业银行的部分再贷款;
(1) Transferring some re-loans as granted by the People's Bank of China to a wholly state-owned commercial bank; and 

 (二)发行金融债券。
(2) Issuing financial bonds. 
中国人民银行发放给国有独资商业银行的再贷款划转给金融资产管理公司,实行固定利率,年利率为2.25%。

Where any re-loan as granted by the People's Bank of China to a wholly state-owned commercial bank is transferred to a financial asset management company, a fixed interest rate shall be applied, whereby the annual interest rate shall be 2.25 %.
 

   第十五条 金融资产管理公司发行金融债券,由中国人民银行会同财政部审批。
Article 15 Where a financial asset management company issues any financial bond, it shall be subject to the examination and approval of the People's Bank of China in collaboration with the Ministry of Finance. 

 

第四章 债权转股权

Chapter IV Debt-equity Swap 

   第十六条 金融资产管理公司可以将收购国有银行不良贷款取得的债权转为对借款企业的股权。
Article 16 A financial asset management company may swap the debt right as acquired in the process of purchasing the NPLs of state-owned banks to the stock right of the borrowing enterprises. 
金融资产管理公司持有的股权,不受本公司净资产额或者注册资本的比例限制。

The stock right as held by a financial asset management company may not be limited to the proportion regarding the net asset or registered capital of the company therein.
 

   第十七条 实施债权转股权,应当贯彻国家产业政策,有利于优化经济结构,促进有关企业的技术进步和产品升级。
Article 17 A debt-equity swap shall comply with the industrial policies of the state, be conducive to optimizing the economic structure and promoting the technical progress and product upgrading of the relevant enterprise. 

   第十八条 实施债权转股权的企业,由国家经济贸易委员会向金融资产管理公司推荐。金融资产管理公司对被推荐的企业进行独立评审,制定企业债权转股权的方案并与企业签订债权转股权协议。债权转股权的方案和协议由国家经济贸易委员会会同财政部、中国人民银行审核,报国务院批准后实施。
Article 18 The state economic and trade commission shall recommend the relevant enterprise that undertakes a debt-equity swap to a financial asset management company. A financial asset management company shall carry out an independent appraisal on the enterprise as recommended, formulate a plan of enterprise debt-equity swap and conclude an agreement on debt-equity swap with the relevant enterprise. The plan and agreement of debt-equity swap shall be subject to the examination of the state economic and trade commission in collaboration with the Ministry of Finance and the People's Bank of China and be reported to the State Council for approval before implementation. 

   第十九条 实施债权转股权的企业,应当按照现代企业制度的要求,转换经营机制,建立规范的公司法人治理结构,加强企业管理。有关地方人民政府应当帮助企业减员增效、下岗分流,分离企业办社会的职能。
Article 19 An enterprise that undertakes a debt-equity swap shall, according to the requirements of modern corporate system, transfer its operational mechanism, establish a standardized corporate governance structure and intensify its enterprise management. The relevant local people's government shall help an enterprise to downsize its staff and improve its efficiency, divert laid-off workers and take away the function of social management from an enterprise. 

   第二十条 金融资产管理公司的债权转股权后,作为企业的股东,可以派员参加企业董事会、监事会,依法行使股东权利。
Article 20 Where a financial asset management company concludes a debt-equity swap, it may, as a shareholder of the relevant enterprise, designate its personnel to attend the board of directors as well as the board of supervisors of the enterprise so as to exercise its shareholders' right. 

   第二十一条好饿但是不想动 金融资产管理公司持有的企业股权,可以按照国家有关规定向境内外投资者转让,也可以由债权转股权企业依法回购。
Article 21 The stock right of an enterprise as held by a financial asset management company may be transferred to investors at home and abroad according to the relevant provisions of state or may be recalled by the enterprise that has gone through a debt-equity swap according to law. 

   第二十二条 企业实施债权转股权后,应当按照国家有关规定办理企业产权变更等有关登记。
Article 22 Where an enterprise has gone through a debt-equity swap, it shall handle the formalities for registration of alteration of enterprise property right, etc. according to the relevant provisions of the state. 

   第二十三条 国家经济贸易委员会负责组织、指导、协调企业债权转股权工作。
Article 23 The state economic and trade commission shall take charge of organizing, guiding and coordinating any debt-equity swap of an enterprise. 

 

第五章 公司的经营和管理

Chapter V Operation and Management of Financial Asset Management Companies 

   第二十四条 金融资产管理公司实行经营目标责任制。
Article 24 A financial asset management company shall adopt a business target responsibility system. 
财政部根据不良贷款质量的情况,确定金融资产管理 公司处置不良贷款的经

The Ministry of Finance shall, according to the quality of NPLs, determine the business target of a financial asset management company regarding NPL disposal and carry out the relevant examination and supervision.
 
营目标,并进行考核和监督。

 
Article 25 A financial asset management company shall, according to the features of NPLs, formulate business guidelines and relevant measures, improve its internal management structure as well as establish an internal restriction and incentive mechanism.   第二十五条 金融资产管理公司应当根据不良贷款的特点,制定经营方针和有关措施,完善内部治理结构,建立内部约束机制和激励机制。

 
Article 26 Where a financial asset management company manages or disposes of any asset resulting from purchase of the NPLs of state-owned assets, it shall carry out its business operation according to the principles of openness, competition and selecting the best.   第二十六条 金融资产管理公司管理、处置因收购国有银行不良贷款形成的资产,应当按照公开、竞争、择优的原则运作。

Where a financial asset management company transfers any asset, such means as bidding or auction shall be adopted.
 
金融资产管理公司转让资产,主要采取招标、拍卖等方式。

Where any debt right of a financial asset management company fails to be paid off due to such reasons as bankruptcy of a debtor, it shall be handled according to the relevant provisions of the State Council.
 
金融资产管理公司的债权因债务人破产等原因得不到清偿的,按照国务院的规定处理。

The measures for the administration of asset disposal of financial asset management companies 你怀了我的猴子shall be formulated by the Ministry of Finance.
 
金融资产管理公司资产处置管理办法由财政部制定。

 
Article 27 A financial asset management company may, according to the requirements of its business operation, employ an intermediary organization with such qualification as accounting, asset appraisal and legal services to assist in its business.   第二十七条 金融资产管理公司根据业务需要,可以聘请具有会计、资产评估和法律服务等资格的中介机构协助开展业务。

 
Article 28 A financial asset management company may be exempted from the relevant taxes regarding its business operation of purchasing the NPLs of state-owned banks or undertaking or disposing of any asset resulting from purchase of the NPLs of state-owned banks. The specific measures thereof shall be formulated by the Ministry of Finance in collaboration with the State Administration of Taxation.   第二十八条 金融资产管理公司免交在收购国有银行不良贷款和承接、处置因收购国有银行不良贷款形成的资产的业务活动中的税收。具体办法由财政部会同国家税务总局制定。

A financial asset management company may be exempted from administrative charges such as the registration fee of industry and commerce.
 
金融资产管理公司免交工商登记注册费等行政性收费。

 
Article 29 A financial asset management company shall, according to the requirements of the relevant departments such as the People's Bank of China, the Ministry of Finance and China Securities Regulatory Commission, report financial statements, statistical statements as well as any other relevant materials thereto.   第二十九条 金融资产管理公司应当按照中国人民银行、财政部和中国证券监督管理委员会等有关部门的要求,报送财务、统计报表和其他有关材料。

 
Article 30 A financial asset management company shall be subject to auditing supervision of the auditing organ according to law.   第三十条 金融资产管理公司应当依法接受审计机关的审计监督。

A financial asset management company shall employ the certified public accountants who have been recognized by the Ministry of Finance to carry out an annual auditing on its financial status and shall report its auditing report to all the relevant departments in charge of administration and supervision in a timely manner.
 
金融资产管理公司应当聘请财政部认可的注册会计师对其财务状况进行年度审计,并将审计报告及时报送各有关监督管理部门。

 
Chapter VI Termination and Liquidation of Financial Asset Management Companies 

第六章 公司的终止和清算


 
Article 31 Where a financial asset management company is terminated, the Ministry of Finance shall organize a liquidation group for its liquidation.   第三十一条 金融资产管理公司终止时,由财政部组织清算组,进行清算。

 
Article 32 For any final loss that results from NPL disposal as conducted by a financial asset management company, the Ministry of Finance shall set forth a plan of solution and report it to the State Council for approval and implementation.   第三十二条 金融资产管理公司处置不良贷款形成的最终损失,由财政部提出解决方案,报国务院批准执行。

 

第七章 附则

Chapter VII Supplementary Provisions 

   第三十三条 金融资产管理公司违反金融法律、行政法规的,由中国人民银行依照有关法律和《金融违法行为处罚办法》给予处罚;违反其他有关法律、行政法规的,由有关部门依法给予处罚;构成犯罪的,依法追究刑事责任。
Article 33 Where a financial asset management company violates any law or administrative regulation on finance, the People's Bank of China shall give a punishment thereto according to the relevant laws and the Measures for Punishments against Financial Illegal Acts. Where a financial asset management company violates any other law or administrative regulation, the relevant department shall give a punishment thereto according to law. Where a crime has been constituted, the criminal liabilities shall be investigated for according to law. 

   第三十四条 本条例自公布之日起施行。
Article 34 The present Regulation shall come into force as of the day of promulgation. 
     
     
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