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Interim Measures on the Management of Securities Investment Funds [Expired]
证券投资基金管理暂行办法 [失效]
【法宝引证码】

Notice by the Securities Committee of the State Council on Issuing the Interim Measures on the Management of Securities Investment Funds 

国务院证券委员会关于发布《证券投资基金管理暂行办法》的通知


(No. 81 [1997] of the Securities Committee)
 
(证委发[1997]81号)


The people's governments of all provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning; all ministries and commissions of the State Council; and all institutions directly under the State Council:
 
各省、自治区、直辖市、计划单列市人民政府,国务院各部委、各直属机构:

In order to strengthen the management of securities investment funds, protect the legitimate rights and interests of the parties, cultivate institutional investors in the securities market, and promote the healthy and stable development of the securities market, the Securities Committee of the State Council has formulated the Interim Measures on the Management of Securities Investment Funds, which have been approved by the State Council and are hereby promulgated.
 
为了加强对证券投资基金的管理,保护基金当事人的合法权益,培育证券市场机构没资者,促进证券市场健康、稳定发展,根据国家有关法律和规定,国务院证券委员会制定了《证券投资基金管理暂行办法》,并经国务院批准,现予发布。

Securities Committee of the State Council
 

国务院证券委员会


November 14, 1997
 
一九九七年十一月十四日


Interim Measures on the Management of Securities Investment Funds
 

证券投资基金管理暂行办法


(Adopted by the State Council on November 5, 1997 and promulgated by the Securities Committee of the State Counci on November 14, 1997)
 
(1997年11月5日国务院批准 1997年11月14日国务院证券委员会发布)

 

Chapter 1. General principles 

第一章 总则


 
Article 1. This Regulation is formulated with a view to enhance the management of securities investment funds, protect the lawful rights and interests of the parties to the funds and ensure a healthy and stable development of the securities market.   第一条 为了加强对证券投资基金的管理,保护基金当事人的合法权益,促进证券市场的健康、稳定发展,制定本办法。

 
Article 2. The term "securities investment fund (hereinafter referred to as Fund)" in this Regulation refers to a profit- and risk-sharing collective securities investment method, namely, pooling funds from investors through issuing Fund units and entrusting to Fund trustees so as to be managed and operated by Fund managers to through investment in securities and bonds as well as other financial tools.   第二条 本办法所称证券投资基金(以下简称基金)是指一种利益共享、风险共担的集合证券投资方式,即通过发行基金单位,集中投资者的资金,由基金托管人托管,由基金管理人管理和运用资金,从事股票、债券等金融工具投资。

 
Article 3. The Fund assets are independent from the assets of the Fund trustee or those of the Fund manager.   第三条 基金资产独立于基金托管人和基金管理人的资产。

 
Article 4. Natural persons, legal persons and other organizations who are engaged in Fund activities and those who related to Fund activities shall abide by this Regulation.   第四条 在中国境内从事基金活动及与该活动相关的自然人、法人和其他组织,应当遵守本办法。

 
Chapter 2. Fund Formation, floatation and trading 

第二章 基金的设立、募集与交易


 
Article 5. The formation of Funds shall be approved by China Securities Supervision and Administration Committee (hereinafter referred to as CSSAC).   第五条 基金的设立,必须经中国证券监督管理委员会(以下简称中国证监会)审查批准。

 
Article 6. The Fund promoter may apply for the formation of either an open Fund or a close Fund.   第六条 基金发起人可以申请设立开放式基金,也可以申请设立封闭式基金。

 
Article 7. The following requirements shall be met for the application of establishing a Fund:   第七条 申请设立基金,应当具备下列条件:

 
(1)The principal promoters shall be securities companies, trust investment companies and fund management companies established in accordance with relative State laws; (一)主要发起人为按照国家有关规定设立的证券公司、信托投资公司、基金管理公司;

 
(2)The fund collected by each promoter shall not be less than 300 million yuan. The principal promoters must have at least three years of experience in securities investment and have been keeping a favorable balance continuously, with the exception of fund management companies; (二)每个发起人的实收资本不少于3亿元,主要发起人有3年以上从事证券投资经验、连续盈利的记录,但是基金管理公司除外;

 
(3)The promoter, Fund trustee and Fund manager must have a well-organized organ, a sound managerial system, an effective financial situation and law-biding operation; (三)发起人、基金托管人、基金管理人有健全的组织机构和管理制度,财务状况良好,经营行为规范;

 
(4)The Fund trustee and Fund manager shall have necessary business offices of their own and security facilities as well as other facilities required by the business; (四)基金托管人、基金管理人有符合要求的营业场所、安全防范设施和与业务有关的其他设施;

 
(5)Other conditions as required by CSSAC. (五)中国证监会规定的其他条件。

In the application of an open Fund, the applicant must have enough human resources and technical facilities to guarantee disclosure of at least once a week to investors of the net value of Fund assets and the prices for purchase and redemption.
 
申请设立开放式基金,还必须在人才和技术设施上能够保证每周至少一次向投资者公布基金资产净值和申购、赎回价格。

 
Article 8. The promoter shall provide the CSSAC with the following documents upon application of formation of Funds:   第八条 基金发起人申请设立基金,应当向中国证监会提交下列文件:

 
(1)An application; (一)申请报告;

 
(2)List of promoters and agreement; (二)发起人名单及协议;

 
(3)contracts concerning the Fund and trusteeship agreement; (三)基金契约和托管协议;

 
(4)Prospectus; (四)招募说明书;

 
(5)In the case of Securities companies and trust investment companies as promoters, their financial reports for the recent three years audited by an accounting firm; (五)证券公司、信托投资公司作为发起人的,经会计师事务所审计的发起人最近3年的财务报告;

 
(6)Legal opinions prepared by a law firm; (六)律师事务所出具的法律意见书;

 
(7)Floatation Plan(s); (七)募集方案;

 
(8)Other documents required by CSSAC. (八)中国证监会要求提交的其他文件。

The forms of Fund contract, trusteeship agreement and prospectus shall be decided by CSSAC.
 
前款基金契约、托管协议和招募说明书的内容和格式,由中国证监会规定。

 
Article 9. The percentage between the Fund units purchased by the promoters and the total Fund units and that between the Fund units held by the promoters during the period of its continuous existence and the total Fund units shall be decided by the CSSAC.   第九条 基金发起人认购基金单位占基金总额的比例和在基金存续期间持有基金单位占基金总额的比例,由中国证监会规定。

 
Article 10. The period of continuous existence of a close fund shall not be less than five years and the minimum value pooled together shall not be less than RMB 200 million yuan.   第十条 封闭式基金的存续时间不得少于5年,最低募集数额不得少于2亿元。

 
Article 11. The enlargement and the extension of a close Fund shall be subject to the approval of CSSAC and satisfy the following requirements:   第十一条 封闭式基金扩募或者续期,应当具备下列条件,并经中国证监会审查批准:

 
(1) The annual rate of yield is higher than the national average rate of yield of Funds; (一)年收益率高于全国基金平均收益率;

 
(2) The Fund trustee and the Fund manager have no record of gross violation of laws and other regulations or rules in the recent three years; (二)基金托管人、基金管理人最近3年内无重大违法、违规行为;

 
(3) The approval of the meeting of Fund holders and Fund trustees for enlargement or extension; (三)基金持有人大会和基金托管人同意扩募或者续期;

 
(4)Other conditions required by CSSAC. (四)中国证监会规定的其他条件。

When applying for enlarging or extending the duration of a Fund,documents shall be submitted in accordance with the provisions of the CSSAC.
 
申请基金扩募或者续期,应当按照中国证监会的要求提交有关文件。

 
Article 12. Fund promoters shall publish the prospectus in a newspaper or magazine designed by the CSSAC three days before the floatation.   第十二条 基金发起人应当于基金募集前3天在中国证监会指定的报刊上刊载招募说明书。

 
Article 13. The period of floatation for a close Fund is three months starting from the date of approval of the Fund. A close Fund may not be established unless more than 80% of its approved fund has been pooled together within three months after the date of approval. An open Fund may not be established unless the net sale within three months after the date of approval is more than 200 million yuan.   第十三条 封闭式基金的募集期限为3个月,自该基金批准之日起计算。封闭式基金自批准之日起3个月内募集的资金超过该基金批准规模的80%的,该基金方可成立。开放式基金自批准之日起3个月内净销售额超过2亿元的,该基金方可成立。

A close Fund may not be established if less than 80% of its approved fund has been pooled together within three months after the date of approval. An open Fund may not be formed if the net sale within the three months after the date of approval is less than 200 million yuan.The promoters shall bear the expenses of floatation and the fund already pooled shall be returned to the investors with current deposit interest within 30 days.
 
封闭式基金募集期满时,其所募集的资金少于该基金批准规模的80%的,该基金不得成立。开放式基金自批准之日起3个月内净销售额少于2亿元的,该基金不得成立。基金发起人必须承担基金募集费用,已募集的资金并加计银行活期存款利息必须在30天内退还基金认购人。

 
Article 14. The purchase and the redemption of an open Fund may be executed only in places allowed by State regulations.   第十四条 开放式基金只能在符合国家规定的场所申购、赎回。

Upon the establishment of a close Fund, the Fund manager and Fund trustee may apply to the CSSAC and Stock Exchange for listing. The rules of the listing of Funds shall be formulated by the Stock Exchange and approved by the CSSAC.
 
封闭式基金成立后,基金管理人、基金托管人可以向中国证监会及证券交易所提出基金上市申请。基金上市规则由证券交易所制定,报中国证监会批准。

 
Chapter 3. Fund trustee and Fund manager 

第三章 基金托管人和基金管理人


 
Article 15. The approved Funds shall entrust commercial banks as their Fund trustees responsible for Fund trusteeship and entrust fund management companies as their Fund managers responsible for the management and operation of Funds.   第十五条 经批准设立的基金,应当委托商业银行作为基金托管人托管基金资产,委托基金管理公司作为基金管理人管理和运用基金资产。

 
Article 16. A Fund trustee shall be subject to the approval of CSSAC and the People's Bank of China.   第十六条 基金托管人必须经中国证监会和中国人民银行审查批准。

 
Article 17. A Fund trustee and Fund manager must be administratively and financially independent from each other. The senior managerial personnel shall not hold positions in the opposite party.   第十七条 基金托管人、基金管理人应当在行政上、财务上相互独立,其高级管理人员不得在对方兼任任何职务。

 
Article 18. A Fund trustee must meet the following requirements:   第十八条 基金托管人应当具备下列条件:

 
(1)having a Fund trusteeship department; (一)设有专门的基金托管部;

 
(2)having a collected fund of not less than 8 billion yuan; (二)实收资本不少于80亿元;

 
(3)having sufficient staff familiar with trusteeship; (三)有足够的熟悉托管业务的专职人员;

 
(4)having security capacity for the maintenance of Fund assets; (四)具备安全保管基金全部资产的条件;

 
(6)having secure and efficient capacity for liquidation and settlement. (五)具备安全、高效的清算、交割能力。

 
Article 19. The Fund trustee shall be responsible for:   第十九条 基金托管人应当履行下列职责:

 
(1) safe maintenance of Fund assets; (一)安全保管基金的全部资产;

 
(2) execution of investment orders of Fund managers and transactions under the name of the Fund; (二)执行基金管理人的投资指令,并负责办理基金名下的资金往来;

 
(3) supervision of investment operations of the Fund manager, refusing to execute investment orders of the Fund manager if they are in violation of laws and regulations and report to the CSSAC instead; (三)监督基金管理人的投资运作,发现基金管理人的投资指令违法、违规的,不予执行,并向中国证监会报告;

 
(4) verification and examination of the net value Fund assets and Fund prices provided by Fund manager; (四)复核、审查基金管理人计算的基金资产净值及基金价格;

 
(5) keeping the accounting books of the Fund for not less than 15 years; (五)保存基金的会计帐册、记录15年以上;

 
(6) preparation of Fund performance reports and Fund trusteeship reports to the CSSAC and the People's Bank of China; (六)出具基金业绩报告,提供基金托管情况,并向中国证监会和中国人民银行报告;

 
(7) other responsibilities as provided in the Fund contract or the trusteeship agreement. (七)基金契约、托管协议规定的其他职责。

 
Article 20. A Fund trustee shall separate the Fund assets from its own assets and keep separate accounting books for each different Fund.
......
   第二十条 基金托管人必须将其托管的基金资产与托管人的自有资产严格分开,对不同基金分别设置帐户,实行分帐管理。
......

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