Home China Laws 2005 Page 19

2005

SUPPLEMENTARY PROVISIONS TO THE PROVISIONAL REGULATIONS ON INVESTMENT IN CINEMAS BY FOREIGN INVESTORS

the State Administration of Radio, Film and Television

Order of the State Administration of Radio, Film and Television

No. 49

The Supplementary Provisions to the Provisional Regulations on Investment in Cinemas by Foreign Investors, which were deliberated
and adopted by the State Administration of Radio, Film and Television, the Ministry of Commerce and the Ministry of Culture of the
People￿￿s Republic of China, are hereby promulgated and shall come into force as of May 8, 2005.

Wang Taihua, the Director General of the State Administration of Radio, Film and Television

Bo Xilai, the Minister of the Ministry of Commerce of the PRC

Sun Jiazheng, the Minister of the Ministry of Culture of the PRC

April 8, 2005

Supplementary Provisions to the Provisional Regulations on Investment in Cinemas by Foreign Investors

In order to promote the establishment of closer economic partnership between Hong Kong, Macao and the Mainland of China and encourage
the service providers from Hong Kong and Macao to set up enterprises engaging in film showing business in the Mainland of China,
the supplemental provisions on the investment in cinemas by service providers from Hong Kong and Macao as provided for in the Provisional
Regulations on Investment in Cinemas by Foreign Investors (Order No. 21 of the State Administration of Radio, Film and Television,
the Ministry of Commerce and the Ministry of Culture) and in the Attachment thereof are formulated according to the Supplementary
Protocol to the Mainland and Hong Kong Closer Economic Partnership Arrangement and the Supplementary Protocol to the Mainland and
Macao Closer Economic Partnership Arrangement as approved by the State Council.

1.

As of January 1, 2005, the service providers from Hong Kong and Macao shall be permitted to build, reconstruct and operate cinemas
in the Mainland of China in the form of equity joint venture, contractual joint venture or solely-funded enterprise.

2.

The service providers from Hong Kong and Macao as provided for in the present Provisions shall comply with the definitions and the
relevant requirements in the Mainland and Hong Kong Closer Economic Partnership Arrangement and the Mainland and Macao Closer Economic
Partnership Arrangement respectively.

3.

Other matters on investment in cinemas by service providers from Hong Kong and Macao in the Mainland of China shall still follow the
Provisional Regulations on Investment in Cinemas by Foreign Investors.

4.

The present Provisions shall come into force as of May 8, 2005.



 
the State Administration of Radio, Film and Television
2005-04-08

 







MEASURES FOR THE ADMINISTRATION OF PAWNING




the Ministry of Commerce, the Ministry of Public Security

Order of the Ministry of Commerce and the Ministry of Public Security

No.8

The Measures for the Administration of Pawning, which were deliberated and adopted at the executive meeting of the Ministry of Commerce
and approved by the Ministry of Public Security, are hereby promulgated and shall come into force as of April 1st, 2005.

The Minister of the Ministry of Commerce Bo Xilai

The Minister of the Ministry of Public Security Zhou Yongkang

February 9, 2005

Measures for the Administration of Pawning

Chapter I General Provisions

Article 1

With a view to regulating pawning activities, strengthening supervision and administration, and accelerating the healthy development
of the pawn industry, the present Measures are formulated according to the relevant legal provisions.

Article 2

The present Measures shall be applicable to the establishment of pawnshops and the undertaking of pawning activities within the territory
of the People’s Republic of China.

Article 3

The term “pawning” as mentioned in the present Measures, shall refer to the act that a pawner gives his or her chattel or property
rights to a pawnshop as a pledge for pawned item or gives his or her real estate to the pawnshop as a mortgage for the pawned item,
pays expenses at a certain rate, obtains pawn money and then, within the agreed period of time, redeems the pawned item by repaying
the pawn money and the interest thereof.

The term “pawnshop” as mentioned in the present Measures, shall refer to an enterprise juridical person that is established according
to the present Measures and specially engages in the pawning activities. And its organizational form and its institutions shall accord
with the relevant provisions of the Company Law of the People’s Republic of China.

Article 4

The competent department of commerce shall conduct supervision and administration on the pawn industry. And the public security organ
shall carry out public security administration on the pawn industry.

Article 5

The name of a pawnshop shall accord with the relevant provisions on the administration of enterprise name registration with the word
“pawn” indicated in the name. No other business organization and institution may include the word “pawn” in their names, nor may
they undertake pawn businesses overtly or in any disguised form.

Article 6

When undertaking business activities, a pawnshop shall abide by the laws, regulations and rules, and follow the principles of equality,
free will, good faith and mutual benefit.

Chapter II Establishment

Article 7

When applying for the establishment of a pawnshop, one shall meet the following conditions:

1.

having its own articles of association conforming to the provisions of laws and regulations;

2.

having the minimum registered capital as prescribed in the present Measures;

3.

having a business place meeting the requirements and the facilities that are necessary for business operations;

4.

having managers and appraisers who are familiar with the pawn business;

5.

having two or more shareholders with legal person status, and the institutional shares as comparative controlling shares;

6.

complying with the requirements for management of public security as prescribed in Articles 9 and 10 of the present Measures; and

7.

complying with the state requirements for overall planning and reasonable arrangement of pawnshops.

Article 8

The minimum registered capital of a pawnshop shall be RMB 3 million Yuan; for the pawnshop that undertakes the pawn business of mortgage
of real estates, the minimum registered capital shall be RMB 5 million Yuan; for the pawnshop that undertakes the pawn business of
pledge of property rights, the minimum registered capital shall be RMB 10 million Yuan.

The minimum registered capital of a pawnshop shall be the monetary capital actually paid by shareholders, not including the capital
contributed in the form of in-kind, industrial property rights, know-how and the land use right.

Article 9

A pawnshop shall establish and improve the following safety systems:

1.

the system for checking the certificates or licenses for accepting, renewal of a pawn and redeeming any pawned item;

2.

the system for checking and keeping pawned items;

3.

the system for assisting in the investigation and ordering circularly the arrest of a criminal at large;

4.

the system for reporting suspicious instances; and

5.

the system of equipment of security personnel.

Article 10

The building construction and business facilities of a pawnshop shall conform to the relevant security standards and provisions on
fire control of the state. The specific safety facilities are as follows:

1.

video equipments set up in the business place (the video materials shall be kept for at least two months);

2.

safeguard facilities shall be set up at the business counters;

3.

warehouses for keeping pawned items and safe boxes (counters or deposits), which meet the safety requirements;

4.

the alarm device;

5.

safeguard facilities for doors and windows; and

6.

necessary fire control facilities and equipments.

Article 11

When establishing a pawnshop, an applicant shall submit the following documents to the competent department of commerce at the level
of districted city (prefecture) of the locality where the pawnshop is to be established:

1.

an application for the establishment, which shall specify the name, residence, registered capital, shareholders and their amount of
capital contributions, business scope of the pawnshop to be established and etc., and a feasibility study report;

2.

the articles of association of the pawnshop, the agreement on capital contributions and the commitment on capital contributions;

3.

business rules, internal management system and safeguard measures of the pawnshop;

4.

the capital verification certificate issued by a capital verification institution that has legal qualification;

5.

resumes of the individual shareholders, the legal representative to be appointed and other senior managers as issued by the personnel
department of the entity where their archives are placed;

6.

the recent financial auditing report of the shareholders with legal person status and the certificate of capability for capital contribution
as issued by the accountant firm that has legal qualification, the resolution of the board of directors or the shareholders’ meeting
of the shareholders with legal person status and a photocopy of the duplicate of the business licenses thereof;

7.

the effective certification documents of ownership or use right of the business place, which meet the requirements; and

8.

the Notice of Approval of Enterprise Names in Advance as issued by the administrative department for industry and commerce.

Article 12

Any pawnshop that meets the following conditions may establish a trans-province (autonomous region or municipalities directly under
the Central Government) branches:

1.

having engaged in the pawn business for three years or more with the registered capital of not less than RMB 15 million Yuan;

2.

making profits consecutively in the past two years; and

3.

having no records of violating laws and regulations in its business operations during the past two years.

The branches of any pawnshop shall implement the safety system as prescribed in Article 9 of the present Measures, and shall have
the safety facilities as prescribed in Article 10 of the present Measures.

Article 13

A pawnshop shall allocate the working capital of not less than RMB 5 million Yuan to each of its branch.

The total working capital of all the branches of a pawnshop shall not exceed 50% of the registered capital of the pawnshop.

Article 14

When applying for establishing any branch, a pawnshop shallsubmit the following materials to the competent department of commerce
at the level of districted city (prefecture) of the locality where the branch is to be established:

1.

the application report for establishment of the branch (which shall specify the name, residence, person-in-charge, amount of working
capital and etc. of the branch to be established), a feasibility study report and the resolution of the board of directors (or the
shareholders’ meeting);

2.

the financial report of the pawnshop in the past two years as issued by a qualified accountant firm;

3.

the resume of the person to be appointed in charge of the branch, which is issued by the personnel department at the locality where
his archives are placed;

4.

the effective certification documents of ownership or use right of the business place, which meet the requirements; and

5.

the certificate of having no records of violating any law or regulation in the past two years as issued by the competent department
of commerce at the provincial level and the public security organ of the people’s government at the level of the county where it
is located.

Article 15

After receiving an application for establishing a pawnshop or an application of a pawnshop for establishing a branch, the competent
department of commerce at the level of districted city (prefecture) shall report it for examination to the competent department of
commerce at the provincial level which shall in turn submit the examination opinions and the application documents to the Ministry
of Commerce for approval and issuance of a License for Operation of Pawn Business. The competent department of commerce at the provincial
level shall circulate a report on the relevant conditions to the public security organ of the people’s government at the same level
within 5 days (workdays, the same hereinafter) after receiving the approval documents of the Ministry of Commerce. And the public
security organ of the people’s government at the provincial level shall notify the public security organ of the people’s government
at the level of districted city (prefecture) of the report within 5 days.

Article 16

After receiving a License for Operation of Pawn Business, the applicant shall apply for a License of Special Trades for the pawnshop
to the public security organ of the people’s government at the level of the local county within 10 days, and submit the following
materials:

1.

an application report;

2.

the License for Operation of Pawn Business and its photocopy;

3.

the resumes of the legal representative, individual shareholders and other senior managers as well as the photocopies of their effective
identity certificates;

4.

the certificate of having no records of intentional crimes as issued by the respective public security organ of the people’s government
at the level of the county where the registered permanent residences of the legal representative, individual shareholders and other
senior managers are placed;

5.

the ichnography and constructional drawing of the business place and the warehouse of the pawnshop;

6.

the video equipments, safeguard facilities, safe boxes (counters, warehouses) and the distribution plan of the sites for the installation
and setup of fire control facilities;

7.

various rules on public security safeguarding and fire control; and

8.

basic information of the public security safeguarding organizations and personnel.

Article 17

The public security organ of the people’s government at the level of the county where the applicant resides shall, within 10 days
after accepting the application, report the application documents and the result of preliminary examination to the public security
organ of the people’s government at the level of districted city (prefecture) which shall finish the examination and approval within
10 days and issue a License of Special Trades to those to whom approval is granted.

The public security organ of the people’s government at the level of districted city (prefecture) shall finish the examination and
approval on the applications accepted directly by itself within 20 days. And, upon approval, a License of Special Trades shall be
issued

The public security organ of the people’s government at the level of districted city (prefecture) shall, within 5 days after issuing
a license, report the conditions of examination and approval to the public security organ of the people’s government at the provincial
level for archival filing; and the public security organ of the people’s government at the provincial level shall report the relevant
matters to the competent department of commerce at the same level within 5 days.

The applicant shall, within 10 days after receiving the License of Special Trades, apply for checking in and registration at the administrative
department for industry and commerce, and shall not conduct business operations until having received the business license.

Chapter III Alteration and Termination

Article 18

Where a pawnshop alters its name and registered capital (excluding those whose registered capital is more than RMB 50 million Yuan
after alteration), replaces its legal representative, or changes its residence within the scope of the city (region, prefecture,
or league), transfers stocks (excluding those that transfer stocks to anyone else for up to 50% of its total shares accumulatively),
it shall be subject to the approval of the competent department of commerce at the provincial level. The competent department of
commerce at the provincial level shall report it to the Ministry of Commerce for archival filing within 20 days after approval. The
Ministry of Commerce shall change the License for Operation of Pawn Business collectively in June and December each year.

Where any pawnshop is split, merged, or moves its residence to another city (region, prefecture, or league), or transfers its stocks
to anyone else for up to 50% of its total shares accumulatively, or the registered capital after alteration is more than RMB 50 Yuan,
it shall, upon the approval of the competent department of commerce at the provincial level, report it to the Ministry of Commerce
for approval and change the License for Operation of Pawn Business.

The applicant shall, after receiving the License for Operation of Pawn Business, apply for changing the License of Special Trades
and the business license according to the relevant provisions of Article 17 of the present Measures.

Article 19

When increasing its registered capital, a pawnshop shall meet the following conditions:

1.

The time interval between the increase of registered capital and the time when it started its business operations or the preceding
increase of registered capital shall be one year or more; and

2.

having no record of operation in violation of any law or regulation within one year.

Article 20

If any pawnshop alters its registered capital or adjusts the structure of its capital stocks, the new individual shareholders and
the senior managers to be appointed shall accept qualification examination; and the new shareholders with legal-person status and
the shareholders with legal person status after capital increase shall have the corresponding capability and qualification for investment.

Article 21

Where anyone fails to obtain the License of Special Trades or the business license as required without justifiable reasons, or fails
to start business without justifiable reasons for more than 6 months as of the date of being issued of the business license, or stops
the business operation for more than 6 consecutive months after starting business, the competent department of commerce at the provincial
level and the public security organ of the people’s government at the level of districted city (prefecture) shall take back the License
for Operation of Pawn Business and the License of Special Trades respectively, and the original approval documents shall be revoked
automatically. The License for Operation of Pawn Business that has bee taken back shall be returned to the Ministry of Commerce.

Where any competent department of commerce at the provincial level takes back the License for Operation of Pawn Business or any public
security organ of the people’s government at the level of districted city (prefecture) takes back the License of Special Trades,
it shall report to each other the relevant matters through the public security organ of the people’s government at the provincial
level within 10 days.

After its license is taken back, the pawnshop shall apply for writing-off registration to the administrative department for industry
and commerce according to law.

Article 22

A pawnshop shall, three months before its dissolution, file an application to the competent department of commerce at the provincial
level, and shall stop other business operations except redeeming pawned objects or disposing the absolutely pawned objects upon approval
and set up a liquidation group according to law to make liquidation.

Article 23

After the liquidation to a pawnshop is completed, the liquidation group shall submit a liquidation report for confirmation to the
competent department of commerce at the provincial levelwhich shall take back the License for Operation of Pawn Business and notify
the public security organ of the people’s government at the same level within 5 days.

The public security organ of the people’s government at the provincial level shall notify the public security organ of the people’s
government at the level of districted city (prefecture) that has made the original approval decision to take back the License of
Special Trades within 5 days.

The pawnshop shall, after the liquidation is completed, apply for writing off registration to the administrative department of industry
and commerce according to law.

Article 24

The competent department of commerce at the provincial level shall make a public announcement on any pawnshop that has terminated
its business operations, and report it to the Ministry of Commerce for archival filing.

Chapter IV Business Scope

Article 25

A pawnshop may undertake the following business operations upon approval:

1.

the pawn business of pledge of chattel;

2.

the pawn business of pledge of property rights;

3.

the pawn business of mortgage of real estates (excluding the real estates of other provinces, autonomous regions, and municipalities
directly under the Central Government or the projects under construction for which the licenses for advance sale of commercial houses
has not been obtained);

4.

sale of the absolutely pawned objects within a certain value;

5.

appraisal and counseling consultation; and

6.

other pawn businesses as approved by the Ministry of Commerce according to law.

Article 26

No pawnshops may undertake any of the following businesses:

1.

the sale of non-absolutely pawned objects or the purchase or consignment of old objects;

2.

the business of mortgage of chattel;

3.

raising funds or absorbing deposit overtly or in any disguised form;

4.

granting credit loans; or

5.

other businesses not approved by the Ministry of Commerce.

Article 27

No pawnshop may accept any of the following properties in its pawn business:

1.

property that has been lawfully sealed up, detained or property against which other protective measures have been taken;

2.

ill-gotten goods and items without clear sources;

3.

any item that is inflammable, easily explosive, severely toxic or radioactive and the containers thereof;

4.

knife tools under control, guns, ammunitions, marks used by army or police, uniforms and instruments;

5.

the official documents and seals of the state organs and the properties under its control;

6.

the certificates or licenses except the certificate of real right issued by the state organs and the effective identity certificates;

7.

property over which the pawner has no ownership or fails to obtain the right of disposition according to law; and

8.

natural resources or other property or items that are prohibited from circulating by laws, regulations and the relevant provisions
of the state.

Article 28

No pawnshops may have any of the following acts:

1.

borrowing money from entities or individuals except commercial banks;

2.

making inter-bank capital borrowing with other pawnshops overtly or in any disguised form;

3.

getting loans from commercial banks beyond the prescribed limit; or

4.

making foreign investment.

Article 29

To accept those items that are subject to uniform purchase, exclusive sale or monopolistic sale of the state, the pawnshop shall obtain
the approval of the relevant departments of the government.

Chapter V Pawn Tickets

Article 30

A pawn ticket is a loan contract between a pawnshop and a pawner, and is the credence for payment of pawn money to the pawner by the
pawnshop.

If a pawnshop comes to any agreement with a pawner on any matter beyond the pawn ticket, they shall sign a supplementary written contract.
But the contents stipulated in the contract shall not violate the relevant laws, regulations and the provisions of the present Measures.

Article 31

A pawn ticket shall specify the following items:

1.

name and residence of the pawnshop;

2.

name and residence (or address) of the pawner, relevant certificates (licenses) and their numbers thereof;

3.

name, quantity, quality and status of the pawned item;

4.

the estimated value and the amount of pawn money;

5.

the interest rate and comprehensive premium rate;

6.

date and term of the pawn, the term of renewal of the pawn; and

7.

points for attention to the pawners.

Article 32

No pawnshop or pawner may transfer, lend or pledge his/its pawn ticket to any third person.

Article 33

The pawnshop and the pawner shall record their pawn ticket in truth and well keep it.

In case any pawn ticket is lost, the pawner shall in time report the loss to the pawnshop. In case the pawner fails to report the
loss of the pawn ticket to the pawnshop, or the pawned item has been redeemed by any other person before the pawner reports the loss
to the pawnshop, the pawnshop shall not be regarded as blamable and shall not compensate the loss.

Chapter IV Rules for Business Operation

Article 34

No pawnshop may entrust any other entity or individual to handle the pawn business as an agent, nor may it assign any operating person
to any other organization, institution or business place to conduct the pawn business.

Article 35

When a pawner pawns an item or redeems any pawned item, he/it shall show his/its own effective identity certificate. If the pawner
is an entity, the pawn handler shall show the certificate of the entity and the effective identity certificate of himself; in the
case of a pawn by entrustment, the entrusted person shall show the power of attorney of the pawner, and the effective identity certificates
of himself and the client.

Except the certificates as listed in the preceding paragraph, the pawner shall, when pawning any item, provide the source of the pawned
item and the relevant certificate documents according to the facts to the pawnshop. When redeeming the pawned item, the pawner shall
show the pawn ticket.

The pawnshop shall check the certificate documents as listed in paragraph two of this Article, which are issued by the pawner.

Article 36

Both parties shall determine the estimated value and the amount of pawn money of any pawned item through negotiation.

In case both parties cannot come to an agreement on the pawned value of any real estate through negotiation, they may entrust a real
estate price appraisal institution that has the competent qualification to make an appraisal, and the estimated value may be regarded
as a reference for determining the pawned value.

The time limit of a pawn shall be stipulated by both parties, and shall not exceed 6 months at the maximum.

Article 37

The interest rate for the pawn value shall apply the six-month legal interest rate of loans to a banking institution as announced
by the People’s Bank of China after converting the term of pawn.

The interest for the pawn value shall not be deducted in advance.

Article 38

The comprehensive premium of a pawn shall include all kinds of service fees and overhead expenses.

In the case of a pledged pawn of chattel, the monthly comprehensive premium rate shall not exceed 42￿￿f the pawn value.

In the case of a mortgaged pawn of real estate, the monthly comprehensive premium rate shall not exceed 27￿￿f the pawn value.

In the case of a pledged pawn of property right, the monthly comprehensive premium rate shall not exceed 24￿￿f the pawn value.

Where the term of a pawn is less than 5 days, the premium shall be charged as that the term is 5 days.

Article 39

Upon the agreement of both parties during the period of a pawn or within 5 days after the expiration of the pawn term, the pawn may
be renewed for 6 months at maximum each time. The renewed term of the pawn shall be calculated from the day when the pawn term expires
or when the former renewed term of the pawn expires. To renew a pawn, the pawner shall settle all the interest for the pawn in the
form term and the premium in the present term.

Article 40

After a pawn term or a renewed term expires, the pawner shall redeem the pawned item or renew the term within 5 days. In case the
pawner fails to redeem the item or renew the term, it shall be deemed as an absolute pawn.

Where a pawner redeems a pawned item during the period between the expiration of the pawn term or the renewed term and the time for
absolute pawn, he shall, apart from repaying the pawn value and the interest thereof as well as the comprehensive premium, make up
the interest for the pawn value and other relevant expenses in light of the penalty level of interest rate of an overdue loan for
banks and other financial institutions as prescribed by the People’s Bank of China, and the premium rates for the pawn and the number
of days overdue as formulated by the pawnshop.

Article 41

The pawnshop shall not lease, pledge, mortgage or use any pawned item within the term of a pawn.

Where a pledged item of a pawn is lost or damaged during the pawn term or the renewed term, the pawnshop shall make compensation pursuant
to the estimated value. Where the pledged item of a pawn is damaged due to force majeure, the pawnshop shall not be responsible for
the compensation.

Article 42

Where a pawnshop undertakes the pawn business of real estate mortgage, it shall handle mortgage registration in advance with the pawner
at the relevant departments according to law, and then go through the formalities for a mortgaged pawn.

When conducting the pawn business of pledge of motor vehicles, the pawnshop shallgo through the formalities for registration of the
pledge at the administrative department of vehicles.

Where any other pawn business managed by the pawnshop is subject to registration according to relevant laws and regulations, the pawnshop
shall go through the registration formalities according to law.

Article 43

The pawnshop shall treat with the absolutely pawned items according to the following provisions:

1.

If the estimated value of a pawned item is more than RMB 30,000 Yuan, it may be treated with according to the Guaranty Law of the
People’s Republic of China or may be publicly auctioned by an entrusted auction house pursuant to the agreement reached upon by both
parties concerning absolute pawns. The proceeds from auction shall be returned to the pawner after deducting the expenses of auction
as well as the pawn value and the interest thereof; in case the proceeds from auction are lower than the estimated value, the pawnshop
may demand the pawner to make up the margin.

2.

If the estimated value of an absolutely pawned item is less than RMB 30,000 Yuan, the pawnshop may sell off it by itself or deal with
it by converting it into money, and shall be responsible for the profit or loss thereof.

3.

The absolutely pawned items, which are restricted by the state from circulating, shall be treated with after being reported to and
approved by the relevant administrative departments or being handed over to the designated entities for disposal.

4.

When setting up spots for the sale of absolutely pawned items outside its business place, the pawnshop shall report to the competent
department of commerce at the provincial level for archival filing, and shall voluntarily accept the supervision and inspection of
the local competent department of commerce. And

5.

When disposing of the shares of any listed company belonging to absolutely pawned items, the pawnshop shall win the consent and cooperation
of the pawner, and shall not sell off the shares or convert them into money by itself, or entrust any auction house to auction them
publicly.

Article 44

The assets of a pawnshop shall be managed pursuant to the proportions below:

1.

Where a pawnshop gets loans from a commercial bank within the time when it starts business operation till it first submits the annual
financial reports to the competent department of commerce at the provincial level and the local competent department of commerce,
the balance of the loan shall not exceed its registered capital. Where a pawnshop gets loans from a commercial bank after submitting
the financial reports for the first time to the competent department of commerce at the provincial level and the local competent
department of commerce, the balance of the loan shall not exceed the rights and interests of the owners as stated in the financial
reports submitted to the competent department in the previous year. The pawnshop shall not get loans from any commercial bank outside
its own city (region, prefecture, or league). No branch of any pawnshop may get loans from any commercial bank.

INTERPRETATION BY THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS REGARDING THE PROVISIONS OF THE CRIMINAL CULTURE RELICS THAT ARE APPLICABLE TO THE FOSSILS OF PALEOVERTEBRATES AND PALEOANTHROPOIDS OF SCIENTIFIC VALUE LAW

Interpretation by the Standing Committee of the National People’s Congress Regarding the Provisions of the Criminal Law of the People’s
Republic of China on Culture Relics that are Applicable to the Fossils of Paleovertebrates and Paleoanthropoids of Scientific Value

(Adopted at the 19th Meeting of the Standing Committee of the Tenth National People’s Congress on December 29,
2005) 

In light of what is encountered in judicial practice, the Standing Committee of the National People’s Congress has discussed the
question of the applicability of the relevant provisions of the Criminal Law to smuggling, stealing, destroying, selling or illegally
transferring of the fossils of paleovertebrates and paleoanthropoids of scientific value and gives the interpretation as follows: 

The provisions of the Criminal Law on culture relics are applicable to the fossils of paleovertebrates and paleoanthropoids of scientific
value. 

This Interpretation is hereby announced.

Notice: All Rights Reserved to the Legislative Affairs Commission of the Standing Committee of the National People’s Congress.




NATIONAL DEVELOPMENT AND REFORM COMMISSION, MINISTRY OF COMMERCE ANNOUNCEMENT NO. 79, 2005

National Development and Reform Commission, Ministry of Commerce

National Development and Reform Commission, Ministry of Commerce Announcement No. 79, 2005

[2005] No. 79

Since the beginning of 2005/2006 sugar refining period, sugar processing enterprises in the south of China postpone the start of processing,
which result in an increase of sugar price in the domestic and international market.

Increases of sugar price of production areas and sale areas both exceeded 60% compared with the same period last year. This intensifies
the difficulty in management on the sugar cane areas, effects the normal production of sugar refining enterprise and restrains the
consumption on sugar, which finally results in an infection to the healthy development on sugar industry.

In order to maintain the prices of sugar, guarantee the supply in the market, National Development and Reform Commission, Ministry
of Commerce and related departments decided to release some state reserved crude sugar, promptly process to be product sugar and
put them on the market.

The sugar production has reached the peak period at present and the inadequate supply situation shall be temporary. All the related
enterprises and departments shall try to promote a healthy development of sugar production and sugar refining industry.

National Development and Reform Commission

Ministry of Commerce

December 16, 2005



 
National Development and Reform Commission, Ministry of Commerce
2005-12-16

 







TARIFF COMMISSION OF THE STATE COUNCIL CIRCULAR ON PROVISIONAL IMPORT TAX RATE OF STEAM COAL

Tariff Commission of the State Council

Tariff Commission of the State Council Circular on Provisional Import Tax Rate of Steam Coal

No.3 [2005] of the Tariff Commission of the State Council

General Administration of Customs:

For the purpose of relaxing tight supply of domestic coal, with authorization of the State Council, a provisional import tax tariff
of 3% will be imposed on steam coal (with a tariff code of 27011290, other soft coals) during the period of April 1 to December 31,
2005.

Tariff Commission of the State Council

March 31, 2005



 
Tariff Commission of the State Council
2005-03-31

 







DECISION OF THE MINISTRY OF JUSTICE ON AMENDING THE MEASURES FOR THE ADMINISTRATION ON ASSOCIATIONS FORMED BY LAW FIRMS OF HONG KONG SPECIAL ADMINISTRATIVE REGION OR MACAO SPECIAL ADMINISTRATIVE REGION AND MAINLAND LAW FIRMS

Order of the Ministry of Justice of People’s Republic of China

No.100

The Decision of the Ministry of Justice on Amending the Measures for the Administration on Associations Formed by Law Firms of Hong
Kong Special Administrative Region or Macao Special Administrative Region and Mainland Law Firms (hereinafter referred to as the
Decision), which was deliberated and adopted at the executive meeting of the Ministry of Justice on December 23, 2005, is hereby
promulgated and shall come into force as of January 1, 2006. The Measures for the Administration on Associations Formed by Law Firms
of Hong Kong Special Administrative Region or Macao Special Administrative Region and Mainland Law Firms (Order No.83 of the Ministry
of Justice) shall, after being amended according to the Decision, be promulgated once again.
Wu Aiying, the Minister of the Ministry of Justice

December 28, 2005

Decision of the Ministry of Justice on Amending the Measures for the Administration on Associations Formed by Law Firms of Hong Kong
Special Administrative Region or Macao Special Administrative Region and Mainland Law Firms (2005)

For the purpose of promoting the establishment of closer economic partnership between Hong Kong, Macao and the Mainland, we decide
to make the following amendment on the Measures for the Administration on Associations Formed by Law Firms of Hong Kong Special Administrative
Region or Macao Special Administrative Region and Mainland Law Firms (Order No.83 of the Ministry of Justice) in accordance with
the Supplementary Agreement II of the Mainland/Hong Kong Closer Economic Partnership Agreement and the Supplementary Agreement II
of the Mainland/Macao Closer Economic Partnership Agreement:

I.

Article 2 shall be amended as: the term “association” as mentioned in the present Measures means that a law firm of Hong Kong or
Macao that has established a representative office in the Mainland cooperates with a Mainland law firm within the province, autonomous
region or municipality directly under the Central Government where the representative office is located, by means of which both parties
may, in light of the contractual rights and obligations, jointly operate in the Mainland, and provide respectively Hong Kong, Macao,
or Mainland legal services to the clients.

II.

The Decision shall go into effect as of January 1, 2006. The Measures for the Administration on Association Formed by Law Firms of
Hong Kong Special Administrative Region or Macao Special Administrative Region and Mainland Law Firms (Order No.83 of the Ministry
of Justice) shall be amended correspondingly according to the Decision, and promulgated once again.



 
Ministry of Justice
2005-12-28

 







CIRCULAR ON RELEVANT ISSUES CONCERNING THE ADJUSTMENT OF THE COMMODITIES SUBJECT TO IMPORT & EXPORT QUOTA LICENSES ADMINISTRATION FOR FOREIGN-FUNDED ENTERPRISES IN 2005 AND THE APPLICATION QUANTITY OF THAT IN 2006

General Office of Ministry of Commerce

Circular On Relevant Issues Concerning the Adjustment of the Commodities Subject to Import & Export Quota Licenses Administration
for Foreign-Funded Enterprises in 2005 and the Application Quantity of that in 2006

Shang Ban Zi Han [2005] No. 127

Administrative commercial departments in all provinces, autonomous regions, municipalities, separately listed cities and Xinjiang
Production and Construction Corps of CPLA:

In accordance with related regulations of Administration on Import and Export of Foreign Invested Enterprise, please earnestly check
up use status of export quota and import quota of foreign invested enterprises this year in line with documents of Ministry of Commerce
No. 201, 2005, No.202, 2005, No.195, 2005 and No.99, 2004. Those cannot be finished should be returned back before Nov 15, 2005 for
redistribution. In addition, please report export quota and import quota of relevant commodities of foreign invested enterprises
of your province (city) in 2006 to Ministry of Commerce Department of Foreign Investment Administration before Nov 15, 2005.

General Office of Ministry of Commerce

Oct 27, 2005



 
General Office of Ministry of Commerce
2005-10-27

 







OFFICIAL REPLY OF THE STATE COUNCIL CONCERNING THE CATALOGUE OF THE NATIONAL PROTECTED KEY WILD PLANTS (THE FIRST BATCH)

Category  ENVIRONMENTAL PROTECTION Organ of Promulgation  The State Council Status of Effect  In Force
Date of Promulgation  1999-09-09 Effective Date  1999-09-09  


Official Reply of the State Council Concerning the Catalogue of the National Protected Key Wild Plants (the First Batch)


State Forestry Administration and the Ministry of Agriculture:    The State Council approves the Catalogue of the National Protected Key
Appendix: The Catalogue of the National Protected Key Wild Plants

(Approved by the Document No.92[1999] of the State Council on August 4,

1999, promulgted by Decree No. 4 of the State Forestry Administration and
the Ministry of Agriculture on Septomber 9, 1999)

State Forestry Administration and the Ministry of Agriculture:    The State Council approves the Catalogue of
the National Protected Key
Wild Plants (the First Batch) and this Catalogue shall be promulgated and
implemented jointly by you.

Appendix: The Catalogue of the National Protected Key Wild Plants
(the First Batch)

         SCIENTIC  NAMENS                  
PROTECTED  CLASSES

                                            
CLASS I   CLASS II

         Pteridophytes

Angiopteridaceae                                        

  Angiopteris sparsisora                                  II    

  Archangiopteris bipinnata                              
II    

  Archangiopteris henryi                                  II    

                                                  
Aspleniaceae                                            

  Phyllitis japonica                                      II    

                                                  
Athyriaceae                                            

  Cystoathyrium chinense                        I

                                                  
Blechnaceae                                            

  Brainea insignis                                        II

                                                  
Christenseniaceae                                      

  Christensenia assamica                                  II

                                                        

                                                  
Cyatheaceae spp.                                          II

                                                        
Dicksoniaceae spp.                                        II

Dryopteridaceae                                        

  Cyrtomium hemionitis                                    II

  Sorolepidium glaciale                        
I

                                                        

Helminthostachyaceae                                    

  Helminthostachys zeylanica                              II

                                                        

Isoetaceae                                              

  Isoetes spp.  *                              
I

                                                  
Parkeriaceae                                            

  Ceratopteris spp.  *                                    II

         SCIENTIC  NAMENS                  
PROTECTED  CLASSES

                                            
CLASS I   CLASS II


Platyceriaceae                                          

  Platycerium wallichii                                  
II

                                                  
Polypodiaceae                                          

   Neocheiropteris palmatopedata                          II

Sinopteridaceae                                        

   Sinopteris grevilleoides                              
II

      Gymnospermae                            

Cephalotaxaceae                                        

   Cephalotaxus lanceolata                                II

   Cephalotaxus oliveri                                  
II

                                                        
Cupressaceae                                            

  Calocedrus macrolepis                                  
II

  Chamaecyparis formosensis                              
II

  Cupressus chengiana                                    
II

  Cupressus gigantea                            I

  Fokienia hodginsii                                      II

  Thuja koraiensis                                        II

                                                  
Cycadaceae                                              

  Cycas spp.                                    I

                                                  
Ginkgoaceae                                    
I

  Ginkgo biloba                                
I

                                                  
Pinaceae                                                

   Abies beshanzuensis                          I

   Abies chensiensis                                      II

   Abies fanjingshanensis                      
I

   Abies yuanbaoshanensis                      
I

   Abies ziyuanensis                            I

   Cathaya argyrophylla                        
I

   Keteleeria davidiana var. formosana                    II

   Keteleeria hainanensis                                
II

         SCIENTIC  NAMENS                  
PROTECTED  CLASSES

                                            
CLASS I   CLASS II

Keteleeria pubescens                                    
II
Larix chinensis                                          II
Larix mastersiana                                        II
Picea brachytyla var. complanata                        
II
Picea neoveitchii                                        II
Pinus densiflora var. dabeshanensis                      II
Pinus fenzeliana var. dabeshanensis                      II
Pinus koraiensis                                        
II
Pinus kwangtungensis                                    
II
Pinus squamata                                
I
Pinussylvestris var. sylvestriformis            I
Pinus wangii                                            
II
Pseudolarix amabilis                                    
II
Pseudotsuga spp.                                        
II

                                                  
Taxaceae                                              

  Amentotaxus formosana                        
I

  Amentotaxus yunnanensis                      
I

  Pseudotaxus chienii                                    
II

  Taxus spp.                                    I

  Torreya spp.                                            II

                                                  
Taxodiaceae                                            

   Glyptostrobus pensilis                      
I

   Metasequoia glyptostroboides                
I

   Taiwania cryptomerioides                              
II

      Angiospermae                    


Acanthochlamydaceae                                    

   Acanthochlamys bracteata                              
II

                                                  
Aceraceae                                              

   Acer catalpifolium                                    
II

   Acer yangjuechi                                        II

         SCIENTIC  NAMENS                  
PROTECTED  CLASSES

                                            
CLASS I   CLASS II

   Dipteronia dyerana                                    

                                                    
Alismataceae                                              

  Ranalisma rostratum   *                      
I

  Sagittaria natans     *                                
II

                                                    
Apocynaceae                                            

  Parepigynum funingense                                  II

  Rauvolfia serpentina                                    II

                                                    

MEASURE FOR PUNISHING ILLEGAL BANKING ACTIVITIES

Category  BANKING Organ of Promulgation  The State Council Status of Effect  In Force
Date of Promulgation  1999-02-22 Effective Date  1999-02-22  


Measure for Punishing Illegal Banking Activities


Attachment: The Relevant Provisions in the Criminal Law

(Adopted at the 13th Executive Meeting of the State Council on January 14, 1999, and promulgated by Decree No. 260 of the State Council of the People’s Republic of China
on February 22, 1999)

    Article 1  These Measures are enacted for the purpose of punishing illegal banking activities, maintaining banking order, and preventing
banking risks.

    Article 2  If a banking institution violates the provisions on banking control of the State, and the relevant laws and administrative
regulations contain penal provisions, the banking institution shall be punished according to the said provisions; if the relevant
laws and administrative regulations do not contain penal provisions, the banking institution shall be punished according to these
Measures.

    The term “banking institution” in these Measures means the financial institutions that are legally established
and engaged in banking business within the territory of the People’s Republic of China, and includes banks, credit cooperatives,
finance companies, trust and investment companies, lease financing companies, etc.

    Article 3  Administrative sanctions stipulated in these Measure shall be decided by the People’s Bank of China; however, the administrative
sanctions stipulated in Article 24 and Article 25 of these Measures shall be decided by the foreign exchange control department of
the State.

    Disciplinary sanctions stipulated in these Measures, including warning, recording of a demerit, recording
of a major demerit, demotion, removal from post, placement on probation and dismissal, shall be decided by the employing banking
institution or the banking institution at a higher level.

    Any employee of a banking institution who has been subjected to the disciplinary sanction of dismissal according
to these Measures shall not work in any banking institution again, and the People’s Bank of China shall notify all banking institution
that he or she may not be employed and publish an announcement to that effect in national newspapers. With respect to a senior management
employee of a banking institution who has been subjected to the disciplinary sanction of removal from his or her post in accordance
with these Measures, the people’s bank of China shall decide that he or she may not, for a set period of time or ever again, hold
senior management post or a post equivalent to his or her former post in any banking institution, and it shall notify all banking
institution that he or she may not be employed and publish an announcement to that effect in national newspapers.  

    The term “senior management employees” in these Measures means legal representatives of banking institutions
and other principal persons in charge, including the chairmen of the board of directors, vice chairmen of the board of directors,
bank managers, deputy bank managers, heads and deputy heads of banks and their branches;

    The chairmen of administrative board, vice chairmen of administrative board, heads and deputy heads of credit
cooperatives; and the chairmen of the board of directors, vice-chairmen of the board of directors, general managers, deputy general
managers, etc. of banking institutions such as finance companies, trust and investment companies, lease financing companies, etc.

    Article 4  Any employee of a banking institution who, after leaving a banking institution, is found to have violated the provisions
on banking control of the State during the period of working in the banking institution, shall be investigated for liability according
to law.

    Article 5  The establishment, merger or closure of branches or representative offices by banking institutions shall be subject to
the approval of the People’s Bank of China.

    A banking institution that establishes, mergers or closes a branch or representative office without the approval
of the People’s Bank of China shall be given a warning, and fined not less than 300,000 yuan but not more than 50,000 yuan; the senior
management employees directly responsible of the said banking institution shall be given a disciplinary sanction ranging from removal
from their posts to dismissal.

    Article 6  With respect to any one of the following circumstances, a banking institution shall apply to the People’s Bank of China
for approval:

    (1) makes a change to its name;

    (2) makes a change to its registered capital;

    (3) makes a change to its location;

    (4) makes a change in its senior management employees; or

    (5) makes other changes stipulated by the People’s Bank of China.

    If a banking institution under any one of the circumstances mentioned in the preceding paragraph does not
apply to the People’s Bank of China for approval, the institution shall be given a warning and fined not less than 10,000 yuan but
not more than 100,000 yuan; under the circumstances prescribed in the fourth item of the preceding paragraph, the senior management
employees of the banking institution who are directly responsible shall be given disciplinary sanctions ranging from removal from
their posts to dismissal.

    Article 7  Any banking institution that alters shareholders, transfers stock ownership or adjusts stock structure shall apply to
the People’s Bank of China for approval; a banking institution that involves a change in State-owned stock shall apply to finance
departments for approval according to relevant provisions.

    Any banking institution that alters shareholders, transfers stock ownership, or adjusts stock structure without
legal approval shall be given a warning, have illegal income confiscated, and have a fine of not less than one time but not more
than three times illegal income imposed, or have a fine of not less than 50,000 yuan but not more than 300,000 yuan imposed if there
is no illegal income; the senior management employees of the banking institution who are directly responsible shall be given disciplinary
sanctions ranging from removal from their posts to dismissal.

    Article 8  Banking institution may not make sham capital contributions or surreptitiously withdraw contributed capital.

    A banking institution making a sham capital contribution or surreptitiously withdrawing its capital contributions
shall be ordered to suspend businesses and carry out rectification and fined not less than five percent but not more than ten percent
of the amount of the sham capital contribution or the surreptitiously withdrawn capital contribution. The banking institution’s senior
management employees directly responsible shall be subjected to the disciplinary sanction of dismissal, and the other persons in
charge who are directly responsible and other directly responsible persons shall be subjected to disciplinary sanctions ranging from
recording of a demerit to dismissal. If the case is serious, the banking institution’s permit to conduct banking businesses shall
be revoked. If the criminal offence of making sham capital contributions, surreptitiously withdrawing capital contributions or another
criminal offence is constituted, criminal liability shall be investigated according to law.

    Article 9  Banking institution may not engage in financial business activities out of the business scope approved by the People’s
Bank of China.

    If a banking institution, in engaging in financial business activities, exceeds the business scope approved
by the People’s Bank of China, it shall be given a warning, and its illegal income shall be confiscated; in addition, it shall be
imposed a fine of not less than 1 time and not more than 5 times the illegal income or, if there is no illegal income, a fine of
not less than 100,000 yuan but not more than 500,000 yuan; The senior management employees of the banking institution directly responsible
shall be subjected to disciplinary sanctions ranging from removal from their posts to dismissal; and the other persons in charge
who are directly responsible and other directly responsible persons shall be subjected to disciplinary sanctions ranging from recording
of a demerit to dismissal; if the circumstances are serious, the banking institution shall be ordered to suspend businesses and carry
out rectification or its permit to conduct banking businesses shall be revoked; if the criminal offence of illegal operation or another
criminal offence is constituted, criminal liability shall be investigated according to law.

    Article 10  Representative offices of banking institutions may not engage in banking businesses.

    If a representative office of a banking institution engages in banking business, it shall be given a warning
and its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not more than
3 times the illegal income or, if there is no illegal income, a fine of not less than 50,000 yuan but not more than 300,000 yuan.
The senior management employees of the banking institution directly responsible shall be subjected to disciplinary sanctions ranging
from removal from their posts to dismissal, and the other persons in charge who are directly responsible and other directly responsible
persons shall be subjected to disciplinary sanctions ranging from demotion to being dismissal; if the circumstances are serious,
the representative office shall be closed.

    Article 11  Banking institutions may not engage in off-the-books businesses in any of the following forms:

    (1) in carrying out business such as deposit or lending business, failing to book or register the same in
accordance with the accounting system, or failing to reflect the same in its accounting statements;

    (2) handling different types of business such as deposits, and lending by setting off the same against each
other in one account;

    (3) failing to book operating revenue; or

    (4) other off-the-book businesses.

    If a banking institution violates the provisions of the preceding paragraph , it shall be given a warning
and its illegal income shall be confiscated; in addition, it shall be subject to a fine of not less than 1 time but not more than
5 times the illegal income or, if there is no illegal income, a fine not less than 100,000 yuan but not more than 500,000 yuan. The
senior management employees of the banking institution directly responsible, other persons in charge who are directly responsible
and other directly responsible persons shall be subjected to the disciplinary sanction of dismissal. If the circumstances are serious,
the banking institution shall be ordered to suspend businesses and carry out rectification or its permit to conduct banking businesses
shall be revoked. If the criminal offence of illegally making inter-banking-institution loans or other loans with off-the-books customer
funds or another criminal offence is constituted, criminal liability shall be investigated according to law.

    Article 12  Banking institutions may not submit financial and accounting reports or statistical reports which are a sham or which
conceal major facts.

    A banking institution that submits a financial or accounting reports or a statistical report which is a sham
or which conceals major facts shall be given a warning, and subjected to a fine of not less than 100,000 yuan but not more than 500,000
yuan; the senior management employees of the banking institution directly responsible shall be subjected to disciplinary sanctions
ranging from removal from their posts to dismissal, and the other persons in charge who are directly responsible and other directly
responsible persons shall be subjected to disciplinary sanctions ranging from recording of a major demerit to dismissal; if the circumstances
are serious, the banking institution shall be ordered to suspend businesses and carry out rectification or its permit to conduct
banking businesses shall be revoked; if the criminal offence of submitting a sham financial or accounting report or another criminal
offence is constituted, criminal liability shall be investigated according to law.

    Article 13  Banking institution may not issue financial instruments such as letters of credit, letters of guarantee, negotiable instruments,
certificates of deposit or certificates of creditworthiness, etc. that do not agree with the facts.

    A banking institution that practices fraud by issuing a financial instrument such as a letter of credit, letter
of guarantee, negotiable instrument, certificate of deposit or certificate of creditworthiness, etc. that does not agree with the
facts shall be given a warning and its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less
than 1 time bur not more than 5 times the illegal income or, if there is no illegal income, a fine of not less than 100,000 yuan
but not more than 500,000 yuan; the senior management employees of the banking institution directly responsible, other persons in
charge who are directly responsible and other directly responsible persons shall be subjected to the disciplinary sanction of dismissal;
if the criminal offence of illegally issuing a financial instrument or another criminal offence is constituted, criminal liability
shall be investigated according to law.

    Article 14  Banking institutions may not accept, discount, pay or guarantee negotiable instruments which violate provisions of the
law on negotiable instruments.

    A banking institution that accepts, discounts, pays or guarantees a negotiable instrument which violates provisions
of the law on negotiable instruments shall be given a warning and its illegal income shall be confiscated; in addition, it shall
be subjected to a fine of not less than 1 time but not more than 3 times the illegal income or, if there is no illegal income, a
fine of not less than 50,000 yuan but not more than 300,000 yuan; the senior management employees of the banking institution directly
responsible, other persons in charge who are directly responsible and other directly responsible persons shall be subjected to disciplinary
sanctions ranging from recording of a major demerit; if a loss of funds results, the said banking institution’s senior management
employees directly responsible shall be subjected to disciplinary sanctions ranging from removal from their posts to dismissal; if
the criminal offence of accepting, paying or guaranteeing an illegal negotiable instrument or another criminal offence is constituted,
criminal liability shall be investigated according to law.

    Article 15  In conducting deposit businesses, banking institutions may not:

    (1) without authorization, raise interest rates or covertly raise interest rates to attract deposits;

    (2) permit an account to be opened in the name of an individual for the purpose of depositing funds which
the banking institution knows well or should know to be funds of a unit;

    (3) launch new types of deposit business without authorization;

    (4) accept deposits which do not meet People’s Bank of China regulations on customer scope, time limit or
minimum amount;

    (5) open multiple accounts for clients in violation of regulations; or

    (6) carry out other deposit acts in violation of People’s Bank of China regulations.

    A banking institution that commits any one of the acts mentioned in the preceding paragraph shall be given
a warning and its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not
more than 3 times the illegal income or, if there is no illegal income, a fine of not less than 50,000 yuan but not more than 300,000
yuan; the senior management employees of the banking institution directly responsible shall be subjected to disciplinary sanctions
ranging from removal from their posts to dismissal, and the other persons in charge who are directly responsible and other directly
responsible persons shall be subjected to disciplinary sanctions ranging from demotion to dismissal; if the circumstances are serious,
the banking institution shall be ordered to suspend businesses and carry out rectification or its permit to conduct banking business
shall be revoked.

    Article 16  In conducting loan business, banking institutions may not:

    (1) grant unsecured loans to connected persons;

    (2) grant secured loans to connected persons on terms more favorable than those offered to other borrowers
of the same kind of loans;

    (3) raise or lower interest rate in violation of regulations or make loans by other improper methods; or

    (4) carry out other lending acts in violation of People’s Bank of China regulations.

    A banking institution that commits any one of the acts mentioned in the preceding paragraph shall be given
a warning and its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not
more than 5 times the illegal income or, if there is no illegal income, a fine of not less than 100,000 yuan but not more than 500,00
yuan; the senior management employees of the banking institution directly responsible, other persons in charge who are directly responsible
and other directly responsible persons shall be subjected to disciplinary sanctions ranging from removal from their posts to dismissal;
if the circumstances are serious, the banking institution shall be ordered to suspend businesses and carry out rectification or its
permit to conduct banking business shall be revoked; if the criminal offence of illegally making loans to connected persons, illegally
granting loans or another criminal offence is constituted, criminal liability shall be investigated according to law.

    Article 17  In conducting inter-banking-institution lending, banking institutions may not:

    (1) grant inter-banking-institution loans in excess of the maximum permissible amount;

    (2) grant inter-banking-institution loans of a term exceeding the maximum permissible term;

    (3) conduct inter-banking-institution lending business if they do not have the qualifications to conduct such
business;

    (4) conduct inter-banking-institution lending business outside the national unified inter-banking-institution
lending network;

    (5) engage in other inter-banking-institution lending acts in violation of People’s Bank of China regulations.

    A banking institution that commits any one of the acts mentioned in the preceding paragraph shall be subjected
to a temporary suspension or termination of the said business and its illegal income shall be confiscated; in addition, it shall
be subjected to a fine of not less than 1 time but not more than 3 times the illegal income or, if there is no illegal income, a
fine of not less than 50,000 yuan but not more than 300,00 yuan; the senior management employees of the banking institution directly
responsible, other persons in charge who are directly responsible and other directly responsible persons shall be subjected to disciplinary
sanctions ranging from recording of a demerit to dismissal.

    Article 18  Banking institutions may not violate State regulations by conducting securities, futures or other derivatives transactions,
provide credit funds or guarantees for securities, futures or other derivatives transactions, or violate State regulations by investing
in immovable property not for their own use, equity or industry, etc.

    A banking institution that violates the provisions of the preceding paragraph shall be given a warning and
its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not more than 5
times the illegal income or, if there is no illegal income, a fine of not less than 100,000 yuan but not more than 500,00 yuan; the
senior management employees of the banking institution directly responsible shll be subjected to the disciplinary sanction of dismissal,
and the other persons in charge who are directly responsible and other directly responsible persons shall be subjected to disciplinary
sanctions ranging from removal from their posts to dismissal; if the circumstances are serious, the banking institution shall be
ordered to suspend businesses and carry out rectification or its permit to conduct banking business shall be revoked; if the criminal
offence of illegal operation, illegally granting of loans or another criminal offence is constituted, criminal liability shall be
investigated according to law.

    Article 19  Banking institutions shall comply with the provisions of the People’s Bank of China on cash control, and they shall not
permit any units or individuals to withdraw cash exceeding the permissible limit.

    A banking institution that violates the provisions of the People’s Bank of China on cash control by permitting
units or individuals to withdraw cash exceeding the permissible limit and its illegal income shall be given a warning and fined not
less than 50,000 yuan but not more than 300,000 yuan; the senior management employees of the banking institution directly responsible,
other persons in charge who are directly responsible and other directly responsible persons shall be subjected to disciplinary sanctions
ranging from recording of a major demerit to dismissal.

    Article 20  Banking institutions shall comply with the provisions of the People’s Bank of China on control over credit card, and shall
not violate provisions by permitting credit cardholders to make overdrafts or aiding them to use their credit cards to illicitly
obtain cash.

    A banking institution that violates the provisions of the People’s Bank of China on control over credit card
by permitting credit cardholders to make overdrafts or aiding them to use their credit cards to illicitly obtain cash shall be given
a warning and fined not less than 50,000 yuan but not more than 300,000 yuan; the senior management employees of the banking institution
directly responsible, other persons in charge who are directly responsible and other directly responsible persons shall be subjected
to disciplinary sanctions ranging from recording of a major demerit to dismissal.

    Article 21  Banking institutions shall comply with the provisions of the People’s Bank of China on the administration of asset-liability
ratios.

    A banking institution that violates the provisions of the People’s Bank of China on the administration of
asset-liability ratios shall be given a warning and its illegal income shall be confiscated; in addition, it shall be subjected to
a fine of not less than 1 time but not more than 3 times the illegal income or, if there is no illegal income, a fine of not less
than 50,000 yuan but not more than 300,000 yuan; the senior management employees of the banking institution directly responsible
shall be subjected to disciplinary sanctions ranging from recording of a major demerit to dismissal.

    Article 22  Banking institutions shall not tie up public finance deposits or funds.

    A banking institution that ties up public finance deposits or funds shall be given a warning and its illegal
income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not more than 3 times the illegal
income or, if there is no illegal income, a fine of not less than 50,000 yuan but not more than 300,000 yuan; the senior management
employees of the banking institution directly responsible shall be subjected to disciplinary sanctions ranging from removal from
their posts to dismissal and the other persons in charge who are directly responsible and other directly responsible persons shall
be subjected to disciplinary sanctions ranging from demotion to dismissal.

    Article 23  Banking institutions shall, according to law, assist the tax and customs authorities in carrying out the freezing or the
seizing and transferring of taxpayers’ deposits.

    A banking institution that violates the provisions of the preceding paragraph, resulting in the loss of tax
revenue, shall be given a warning and fined not less than 100,000 yuan but not more than 500,00 yuan; the senior management employees
of the banking institution directly responsible, other persons in charge who are directly responsible and other directly responsible
persons shall be subjected to disciplinary sanctions ranging from removal from their posts to dismissal; if a violation of public
security administration is constituted, they shall be subjected to public security administration penalties according to law; if
the criminal offence of obstructing official business or another criminal offence is constituted, criminal liability shall be investigated
according to law.

    Article 24  Banking institutions engaging in foreign exchange business shall comply with the provisions of the State on foreign exchange
control.

   A banking institution engaging in foreign exchange business that violates the provisions of the State on foreign exchange
control shall be subjected to administrative penalties according to the provisions of the regulations on foreign exchange control;
the senior management employees of the banking institution directly responsible, other persons in charge who are directly responsible
and other directly responsible persons shall be subjected to disciplinary sanctions ranging from recording of a demerit to dismissal;
if the circumstances are serious, the senior management employees of the banking institution directly responsible shall be subjected
to disciplinary sanctions ranging from removal from their posts to dismissal; if a criminal offence is constituted, criminal liability
shall be investigated according to law.

    Article 25  Banking institutions engaging in foreign exchange business may not cot:

    (1) fail to promptly report unusual circumstances such as large or frequent purchase of foreign exchange,
or the deposit or withdrawal of large amounts of foreign currency in cash; or

    (2) fail to declare its balance of international receipts and payments according to provisions.

    A banking institution engaging in foreign exchange business that commits any one of the acts mentioned in
the preceding paragraph shall be given a warning and fined not less than 50,000 yuan but not more than 300,000 yuan; the senior management
employees of the banking institution directly responsible, other persons in charge who are directly responsible and other directly
responsible persons shall be subjected to disciplinary sanctions ranging from recording of a demerit to dismissal; if the circumstances
are serious, the senior management employees of the banking institution directly responsible shall be subjected to disciplinary sanctions
ranging from removal from their posts to dismissal; if the criminal offence of being defrauded due to dereliction of duty in the
signing or performance of a contract or another criminal offence is constituted, criminal liability shall be investigated according
to law.

    Article 26  Commercial banks may not permit overdrafts for the purpose of clearing funds for securities or futures transactions or
for the purpose of applications for purchase of new shares.

    A commercial bank that permits overdrafts for the purpose of clearing funds for securities or futures transactions
or for the purpose of applications for purchase of new shares shall be given a warning and its illegal income shall be confiscated;
in addition, it shall be subjected to a fine of not less than 1 time but not more than 5 times the illegal income or, if there is
no illegal income, a fine of not less than 100,000 yuan but not more than 500,000 yuan; the senior management employees of the commercial
bank directly responsible shall be subjected to disciplinary sanctions of dismissal, and other persons in charge who are directly
responsible and other directly responsible persons shall be subjected to disciplinary sanctions ranging from removal from their posts
to dismissal.

    Article 27  Finance companies may not:

    (1) issue finance company bonds on a scale exceeding that approved by the People’s Bank of China;

    (2) take in deposits form, or grant loans to, units that are not group members;

    (3) furnish banking services to units that are not group members, in violation of provisions; or

    (4) carry out other acts in violation of provisions of the People’s Bank of China.

    A finance company that carries out any one of the acts mentioned in the preceding paragraph shall be given
a warning and its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not
more than 5 times the illegal income or, if there is no illegal income, a fine of not less than 100,000 yuan but not more than 500,000
yuan; the senior management employees of the finance company directly responsible, other persons in charge who are directly responsible
and other directly responsible persons shal

REGULATIONS ON MANAGEMENT OF HOUSING PROVIDENT FUND

Category  Finance Organ of Promulgation  The State Council Status of Effect  In Force
Date of Promulgation  1999-04-03 Effective Date  1999-04-03  


Regulations on Management of Housing Provident Fund

Chapter One  General Provisions
Chapter Two  Organs and Their Functions and Responsibilities
Chapter Three Payment and Deposit
Chapter Four  Withdrawal and Use
Chapter Five  Supervision
Chapter Six  Penalty Provisions
Chapter Seven  Supplementary Provisions

(Adopted at the 15th Executive Meeting of the State Council on March 17th, 1999, and promulgated by Decree No.262 of the State Council of People’s Republic of China on April
3, 1999)

Chapter One  General Provisions

    Article 1  These Regulations are formulated with a view to strengthening the management of, protecting the legal rights and interests
of housing provident fund owners, promoting the construction of houses in cities and towns, and improving the housing standard of
residents in cities and towns.

    Article 2  These Regulations are applicable to the payment and deposit, withdrawal, use, management and supervision of housing provident
fund within the territory of the People’s Republic of China.

    The term “housing provident fund” as referred to in these Regulations means long-term housing deposit fund
collected from State organs, State-owned enterprises, collectively owned enterprises in cities and towns, enterprises with foreign
investment, private enterprises in cities and towns as well as other enterprises and institutions in cities and towns (hereinafter
referred to as units) and their on-the-job workers and staff.

    Article 3  The housing provident fund paid and deposited by workers and staff themselves as well as that paid and deposited by units
to which the workers and staff belong is owned by the workers and staff themselves.

    Article 4  The principle that the housing committee makes decisions, the managing center of housing provident fund operates, the
bank deposits in special account and the finance supervises shall be excised in the management of housing provident fund.

    Article 5  Housing provident fund shall be used by workers and staffs for buying, building, overhauling and repairing houses for
self living and shall not be misused by any unit or individuals for other purposes.

    Article 6  The deposit interest and loan interest of housing provident fund shall be lodged by the People’s Bank of China and then,
after soliciting the opinion of the competent department of construction administration of the State Council, submitted to the State
Council for approval.

    Article 7  The competent department of construction administration of the State Council shall, together with the financial department
of the State Council and the People’s Bank of China, work out policies on housing provident fund and supervise the fulfillment.

    The competent department of construction administration under the people’s government of a province or an
autonomous region is responsible for directing the management work in relation to housing provident fund within its administrative
region.  
Chapter Two  Organs and Their Functions and Responsibilities

    Article 8  In a municipality directly under the Central Government, a city where the people’s government of a province or an autonomous
region is located as well as any other city divided into districts, a housing committee composed of the responsible persons of the
people’s government, the responsible persons of financial department, construction department and other departments as well as the
representatives of the trade union and specialists shall be set up as the decision-making organ of management of housing provident
fund

    Article 9  The housing committee shall perform the following functions and responsibilities in the management of housing provident
fund:

    (1) work out and adjust the specific measures for the management of housing provident fund and supervise the
implementation thereof in according to the relevant laws, regulations and policies

    (2) set the specific payment and deposit ratio of housing provident fund according to the provisions of Article
18 of these Regulations;

    (3) decide on the highest amount of loan of housing provident fund;

    (4) examine and approve the plan for collecting and using the housing provident fund;

    (5) examine and approve the report on the implementation of the plan for collecting and using the housing
provident fund;

    Article 10  In a municipality directly under the Central Government, a city where the people’s government of a province, an autonomous
region is located and a city divided into districts, a managing center of housing provident fund, which is to be responsible for
managing and operating housing provident fund, shall be set up on the basis of the principle of simplification and efficiency.

    No managing center of housing provident fund, in principal, shall be set up in a county (city); where its
establishment is necessary indeed, the matter shall be submitted to the people’s government of province, autonomous region and municipality
directly under the Central Government for approval.

    The managing center of housing provident fund is a not-for-profit and independent institution.

    Article 11  The managing center of housing provident fund shall fulfill the following functions and responsibilities:

    (1) make and implement the plan for collecting and using housing provident fund;

    (2) record the payment and deposit, withdrawal and use of housing provident fund of worker and staff;

    (3) take the responsibility of the assessment of housing provident fund

    (4) examine and approve the withdrawal and use of housing provident fund;

    (5) take the responsibility of the value-keeping and return of housing provident fund;

    (6) make the report on the implementation of the plan for collecting and using housing provident fund;

    (7) undertake other work decided by the housing committee.  

    Article 12  The managing center of housing provident fund shall, according to the relevant provisions of the People’s Bank of China,
commission the bank designated by the housing committee (hereinafter referred to as the commissioned bank) to undertake banking businesses
such as loan and settlement of housing provident fund and to undergo procedures such as the open, payment and deposit, and return
of housing provident fund.  

    The managing center of housing provident fund shall sign a contract for commission with the commissioned bank.
Chapter Three Payment and Deposit

    Article 13  The managing center of housing provident fund shall open a special account of housing provident fund in the commissioned
bank.

    A unit shall undertake registration of payment and deposit of housing provident fund at the managing center
of housing provident fund and then, upon the verification by the managing center of housing provident fund, undergo the procedures
of opening the account of housing provident fund for its workers and staff at the commissioned bank. Each worker and staff shall
only have one account of housing provident fund.

    The managing center of housing provident fund shall establish a subsidiary book of housing provident fund
of workers and staff, which records the payment and deposit and withdrawal of the housing provident fund by individual worker and
staff.

    Article 14  A newly-established unit shall undertake the registration of payment and deposit of housing provident fund at the managing
center of housing provident fund within 30 days of its establishment, and shall , on the basis of the verification documents of the
managing center of housing provident fund, undergo the procedure of opening the accounts of housing provident fund for its workers
and staff at the commissioned bank within 20 days of the registration.

    In case of merger, separation, termination, dissolvent or bankruptcy of a unit, the original unit or the liquidation
group shall, within 30 days of the occurrence of the above-mentioned situations, undertake the alteration registration or termination
registration at the managing center of housing provident fund, and shall, on the basis of verification documents of the managing
center of housing provident fund, undergo the procedures of transferring or sealing up the accounts of housing provident fund for
its workers and staff at the commissioned bank within 20 days of the completion of the registration of alteration registration or
termination registration.

    Article 15  If a unit employs a new worker or staff, the unit shall undertake the registration of payment and deposit at the managing
center of housing provident fund within 30 days of the employment, and shall, on the basis of the verification documents of the managing
center of housing provident fund, undergo the procedure of opening or transferring the account of housing provident fund of workers
and staff at the commissioned bank.

    In case of the termination of the labor relationship between the unit and a worker or staff, the unit shall
undertake the alteration registration at the managing center of housing provident fund within 30 days of the termination of the labor
relationship, and shall, on the basis of the verification documents of the managing center of housing provident fund, undergo the
procedure of transferring or sealing up the account of housing provident fund at the commissioned bank.

    Article 16  The monthly amount of housing provident fund paid and deposited by a worker or staff equals to the product of his or her
average monthly salary in last year timing the payment and deposit ratio of housing provident fund of the worker or staff.

    The monthly amount of housing provident fund paid and deposited by a unit for a worker or staff equals to
the product of the average monthly salary of the worker or staff in last year timing the payment and deposit ratio of housing provident
fund of the unit.

    Article 17  A new worker or staff shall begin to pay and deposit the housing provident fund from the second month after his or her
beginning of work, the monthly amount of payment and deposit equals to the product of his or her salary in this month timing the
payment and deposit ratio of housing provident fund of the worker or staff.

    A newly transferred into worker or staff of a unit shall begin to pay and deposit the housing provident fund
from the day on which the new unit pays him salary, the monthly amount of payment and deposit equals to the product of his or her
salary in this month timing the payment and deposit ratio of housing provident fund of the worker or staff.

    Article 18  The payment and deposit ratio of housing provident fund of a worker and staff as well as a unit shall not be less than
5% of the monthly average salary in the last year; cities with good circumstances may properly raise the payment and deposit ratio.
The specific payment and deposit ratio shall be drawn out by the housing committee, and then, after being verified by the people’s
government at the same level, be submitted to the people’s government of a province, an autonomous region or a municipality directly
under the Central Government for approval.

    Article 19  The housing provident fund to be paid and deposited by a worker or staff shall be withheld monthly from his or her salary
by the unit to which he belongs.

    The unit shall collectively pay the housing provident fund that is paid and deposited by the unit and that
is withheld for its workers and staff into the special bank account of housing provident fund within 5 days from the payday every
month, which shall be calculated into the account of housing provident fund of workers and staff by the commissioned bank.

    Article 20  A unit shall timely pay and deposit housing provident fund in full amount, and shall not pay and deposit it after the
expiration of the time period or pay it not in full amount.

    If the unit has difficulty in paying housing provident fund, through the discussion by the worker representative
conference or the labor union, after verification of the managing center of housing provident fund and approval of the housing committee,
it can lower the ratio of payment or defer the payment. When the business running is better, the ratio shall be raised and the housing
provident fund be repaid.

    Article 21  The housing provident fund shall be calculated interest according to the prescribed interest rate of the State from the
day when it is deposited into the housing provident fund account of workers and staff.

    Article 22  The managing center of housing provident fund shall issue valid certificates certifying the payment and deposit of housing
provident fund to the workers and staff who have paid and deposited housing provident funs.

    Article 23  The housing provident fund paid and deposited by a unit for its workers and staff shall be listed as outlay according
to the following provisions:

    (1) an organ shall list it into budget;

    (2) an institution shall list it into budget or expense after the verification of income and expenditure by
the financial department;

    (3) an enterprise shall list it as cost
Chapter Four  Withdrawal and Use

    Article 24  Under any one of the following circumstances, a worker or staff may withdraw the remaining money in the housing provident
fund account of a worker or staff:

    (1) buying, building, overhauling or repairing the house for self living;

    (2) retirement;

    (3) completely losing the ability to work and terminating the labor relation with the former unit;

    (4) registered permanent residence being transferred out of the former city or county or settling in any foreign
country;

    (5) repaying the loan and its interest for buying a house;

    (6) the rent for the house exceeds the prescribed ratio of a family’s salary.

    Where the housing provident fund of a worker or staff is withdrawn according to the provisions of the Sub-paragraphs
(2), (3) and (4) of the preceding paragraph, the account of housing provident fund of the said worker or staff shall be cancelled
at the same time.

    Where a worker or staff is dead or is declared dead, his heir and devisee may withdraw the remaining money
in the housing provident fund account of the worker or staff; where there is no heir or beneficiary of will, the remaining money
in the housing provident fund account of the worker or staff shall be merged into the value-added proceeds of housing provident fund  

    Article 25  Where a worker or staff withdraws the remaining money in the housing provident fund account of the worker or staff, the
unit to which he belongs shall undertake verification and issue a certification of withdrawal.

    The worker or staff shall, on the basis of the certification of withdrawal, apply to the managing center of
housing provident fund for withdraw housing provident fund. The managing center shall make a decision of withdrawal or non-withdrawal
within 3 days of the acceptance of the application and inform the worker or staff; where the withdrawal id approved, the commissioned
bank shall undergo the procedures of payment.

    Article 26  When buying, building, overhauling or repairing a house for self living, a worker or staff paying and depositing housing
provident fund may apply to the managing center of housing provident fund for the loan of housing provident fund.

    The managing center of housing provident fund shall make the decision of granting or not granting the loan
with 15 days of the acceptance of the application and inform the applicant; where the loan is granted, the commissioned bank shall
undergo the procedures for loan.

    The risk arising from the loan of housing provident fund shall be borne by the managing center of housing
provident fund.  

    Article 27  An applicant applying for the loan of housing provident fund shall offer guarantee.

    Article 28  Under the prerequisite of ensuring the withdrawal and loan of housing provident fund, the managing center of housing provident
fund may, upon the approval of the housing committee, use the housing provident fund to buy the national debt.

    The managing center of housing provident fund shall not offer guarantee for others.

    Article 29  The value-added proceeds of housing provident fund shall be deposited into the special account of value-added proceeds
of housing provident fund opened in the commissioned bank by the managing center of housing provident fund, and shall be used for
establishing the risk preparation fund of the loan of housing provident fund, for administrative expenditure of the managing center
of housing provident fund and for supplementary fund of building urban cheaply renting houses.

    Article 30  With respect to the administrative expenditure of a managing center of housing provident fund, the managing center shall,
according to the prescribed standard, make a budget of whole amount of expenditures through the year, and submit it to the financial
department of the people’s government at the same level for approval, handed over to the finance at the same level from the increased
benefit of housing provident fund and appropriated by the finance at the same level.

    The standard for administrative expenditure of a managing center is to be set on the basis of the standard
slightly higher than the State prescribed stand for institutions by the competent department of construction administration under
the people’s government of a province, an autonomous region or a municipality directly under the Central Government, together with
the financial department at the same level, and financial department in charge at the same level.
Chapter Five  Supervision

    Article 31  The financial department of the relevant local people’s government shall strengthen the supervision on the collection,
withdrawal and use of housing provident fund within its administrative region and makes report to the housing committee of the people’s
government at the same level.

    When making the plan for collecting and using the housing provident fund, the managing center of housing provident
fund shall solicit the opinion of the financial department.

    The financial department must participate in the examination and approval of the report on the plan for collecting
and using housing provident fund and the implementation of the plan by the housing committee.  

    Article 32  The annual budget and settlement of housing provident fund made by the managing center of housing provident fund shall,
after being verified by the financial department, be submitted to the housing committee for examination and discussion.

    Every year the managing center of housing provident fund shall regularly send the financial report to the
financial department and the housing committee and publicize it to society.

    Article 33  The managing center of housing provident fund shall subject itself to the supervision through auditing from the audit
department.

    Article 34  The managing center of housing provident fund and its workers and staff are enpost_titled to supervise and urge a unit to fulfill
the following duties in time:

    (1) the payment and deposit registration of housing provident fund or the registration of its alteration or
termination;

    (2) the opening, transferring and sealing up of the housing provident fund account;

    (3) paying and depositing housing provident fund in full amount.

    Article 35  The managing center of housing provident fund shall supervise and urge the commissioned bank to timely handle the business
agreed upon in the commission contract.

    The commissioned bank shall, according to the agreement in the commission contract, regularly provide the
relevant data to the managing center of housing provident fund.

    Article 36  Workers and staff as well as units are enpost_titled to make inquiries about the payment, deposit and withdrawal of their own
housing provident fund, the managing center of housing provident fund and the commissioned bank shall not refuse the inquiries.

    Where a worker or staff or a unit has any objections to the remaining money in the housing provident fund
account, he or it may apply to the commissioned bank to recheck; where having objections to the recheck result, he or it may apply
to the managing center of housing provident fund to recheck again. The managing center of housing provident fund and the commissioned
bank shall give a written reply within 5 days of the receipt of the application.

    Workers and staff are enpost_titled to disclose, impeach and indict the act of misappropriating housing provident
fund.
Chapter Six  Penalty Provisions

    Article 37  Where a unit, in violation of the provisions of these Regulations, fails to make the payment and deposit registration
of housing provident fund or fails to undergo the procedure for its workers and staff to open the housing provident fund account,
the managing center of housing provident fund shall order it to be undertaken within a specified time limit; where it is not undertaken
by the expiration of the specified time limit, a fine of not less than 10,000 yuan nor more than 50,000 yuan shall be imposed.

    Article 38  Where a unit, in violation of the provisions of these Regulations, fails to pay or pays not in full amount the housing
provident fund by the expiration of the time limit, the managing center of housing provident fund shall order it to be paid and deposited
within a specified time limit; where it is not paid and deposited yet by the expiration of the specified time limit, compulsory enforcement
by the people’s court may be applied.

    Article 39  Where, in violation of the provisions of these Regulations, the housing provident fund is appropriated, it shall be recovered;
where there are any illegal gains, such illegal gains shall be confiscated and merged into housing provident fund; where a crime
is constituted, criminal liability shall be investigated according to law; where no crime is constituted, administrative sanctions
shall be imposed upon the persons in charge directly responsible and the other direct responsible persons.

    Article 40  Where the managing center of housing provident fund, in violation of the provisions of these Regulations, offers guarantee
for others, the persons in charge directly responsible and the other direct responsible persons shall be imposed administrative sanctions.

    Article 41  In the work of supervision and administration of housing provident fund, functionaries in State organs who abuse their
powers, neglect their duties or practice favoritism shall be investigated for criminal liabilities where crimes are constituted;
where no crime is constituted, administrative sanctions shall be imposed.
Chapter Seven  Supplementary Provisions

    Article 42  The measures for financial management and accounting of housing provident fund are to be formulated by the financial department
of the State Council in consultation with the construction department of the State Council.

    Article 43  The unit that has not make the payment and deposit registration of housing provident fund or has not undergone the procedure
of opening housing provident fund account of workers and staff before the effectiveness of these Regulations shall, within 60 days
after the date of effectiveness of these Regulations, make the payment and deposit registration of housing provident fund with the
managing center of housing provident fund, and undergo the procedure of opening housing provident fund account with the commissioned
bank.

    Article 44  These Regulations take effect as of the date of promulgation.






CONSTITUTION ACT, 1982 – page 22

NOTES (1) The enacting clause was repealed by the Statute Law Revision Act, 1893, 56-57 Vict., c. 14 (U.K.). It read as...