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Decision of the China Securities Regulatory Commission on Amending Article 62 and Article 63 of the Measures for the Administration of the Takeover of Listed Companies [Effective]
中国证券监督管理委员会关于修改《上市公司收购管理办法》第六十二条及第六十三条的决定(2012) [现行有效]
【法宝引证码】

 
Order of the China Securities Regulatory Commission 

中国证券监督管理委员会令


(No. 77)
 
(第77号)


The Decision on Amending Article 62 and Article 63 of the Measures for the Administration of the Takeover of Listed Companies, as deliberated and adopted at the 11th chairman's executive meeting of the China Securities Regulatory Commission (“CSRC”) on December 29, 2011, is hereby issued, and shall come into force on March 15, 2012.
 
《关于修改〈上市公司收购管理办法〉第六十二条及第六十三条的决定》已经2011年12月29日中国证券监督管理委员会第11次主席办公会议审议通过,现予公布,自2012年3月15日起施行。

Chairman of the China Securities Regulatory Commission: Guo Shuqing
 
中国证券监督管理委员会主席 郭树清

February 14, 2012
 
二〇一二年二月十四日

Decision on Amending Article 62 and Article 63 of the Measures for the Administration of the Takeover of Listed Companies
 
关于修改《上市公司收购管理办法》第六十二条及第六十三条的决定

 
I. Article 62 is amended as: “Under any of the following circumstances, a purchaser may apply to the CSRC for exemption from increasing shares by means of tender offer:   一、第六十二条修改为:“有下列情形之一的,收购人可以向中国证监会提出免于以要约方式增持股份的申请:

 
(1) the purchaser and the transferor can prove that the transfer has not caused the alteration of the actual controller of the listed company; (一)收购人与出让人能够证明本次转让未导致上市公司的实际控制人发生变化;

 
(2) the listed company is confronted with serious financial difficulty, the purchaser has put forward a reorganization scheme for saving the company and obtained the approval of the general assembly of shareholders of the company, and the purchaser promises not to transfer the equity it holds in the company within the next three years; (二)上市公司面临严重财务困难,收购人提出的挽救公司的重组方案取得该公司股东大会批准,且收购人承诺3年内不转让其在该公司中所拥有的权益;

 
(3) the purchaser obtains the new shares issued to it by the listed company upon approval by the non-related shareholders of the general assembly of shareholders of the listed company, which makes the equity shares held by the purchaser in the company exceed 30% of the issued shares of the listed company, and the purchaser promises not to transfer the new shares issued to it at this time within the next three years, and the general assembly of shareholders of the company agrees to the exemption of making a tender offer; or
......
 (三)经上市公司股东大会非关联股东批准,收购人取得上市公司向其发行的新股,导致其在该公司拥有权益的股份超过该公司已发行股份的30%,收购人承诺3年内不转让本次向其发行的新股,且公司股东大会同意收购人免于发出要约;
......

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