On December 29, the China insurance regulatory Commission issued the administrative measures for insurance company equity (draft for soliciting opinions) (hereinafter draft), and open to the public for comment. 2016, the China insurance regulatory Commission to systematically share the existing monitoring system, in-depth study of ownership structure, funding sources, transmission regulation and other key issues, the original of the administrative measures for insurance company equity was considerably revised, culminated in the draft. This is the basic work of the China insurance regulatory Commission to strengthen management supervision of, is doing "the insurance industry named" important initiatives.
The exposure draft for insurance company equity management has established principles of category management. Insurance company shareholders are divided into three categories:
1. financial shareholders. Insurance companies owned by refers to less than 10%, no significant effect on insurance company management and shareholders.
2. strategic shareholders. Insurance companies owned by refers to 10%-20% or holding equity is less than 10%, but enough to have a significant impact on insurance company management shareholders.
3. the controlling shareholders. Insurance company owned by refers to 20%, has a controlling influence on insurance company management shareholders or holding's equity is less than 20%, but enough to have a controlling influence on management of insurance companies of the shareholders.
The provisions of the draft for comment and approved by the China insurance regulatory Commission involved in the risk management of insurance companies and other special circumstances, the same investors can only become a controlling shareholder of the insurance company engaged in similar business. Insurance for business innovation or specialized business investment to establish an insurance company not subject to restrictions in the preceding paragraph, but the stake in investment in insurance companies within five years should be more than 50%. Investors become shareholders in the insurance company strategy of no more than two of them. Number of investors financial shareholders are not restricted.
The provisions of the draft for comment, since the insurance company since its founding, controlled the shares held by such shareholder shall not be transferred within three years, such shareholder shall not be transferred within two years of the strategy's equity in financial shares held by the shareholders shall not be transferred within one year.
The exposure draft on insurance companies insurance companies owned by stockholders proportional to the following requirements:
1. a single shareholder's stake does not exceed the total share capital of the insurance company one-third;
2. a single limited partnership stake does not exceed the total share capital of the insurance company 5%, together holding no more than 15%;
3. the insurance company because the business investment in innovation, specialization or group management needs to establish an insurance company, maximum which is not restricted;
4. approved by the China insurance regulatory Commission, of risk management measures on insurance companies, shareholding limit without restriction.
Worth noting is that shareholders of the Association, ownership consolidations.
In addition, the strengthening of the consultation for insurance company equity structure and shareholders through regulation, paying attention to shareholders ' capital strength and sustained funding capacity under the premise, more attention to the background, personal qualities and management teams, past investment conditions survey, to ensure its conformity with the rational investment of insurance industry and sound business philosophy. Meanwhile, the strengthened capital authenticity verification of the drafts. To standardize the shareholders against themselves in by way of insurance funds equity, investing in yourself, recycling, the exposure draft in a negative list of ways, defined the type of funds shall not share, and further clarify the standard of review, to adopt a more effective regulatory indicators to ensure investors the true source of legitimacy. The drafts of the measures under review and accountability has been strengthened through prior disclosure, the matter of tracing, ex-post accountability and other regulatory means, established equity management chain-wide review mechanisms of accountability, public oversight, shareholders promised, statute of special provisions, strict accountability measures such as preventing governance risk.
Following is the administrative measures for insurance company equity (draft for soliciting opinions) the full text of the
Insurance companies equity management
(Draft for soliciting opinions)
Chapter I General provisions
First to strengthen the corporate governance of insurance company regulation, regulate insurance companies Equity Act, protecting the legitimate rights and interests of shareholders and policyholders, insured persons, beneficiaries, promote sustainable and healthy development of the insurance industry, according to the People's Republic of China Act of the People's Republic of China insurance law and other laws and administrative regulations, these measures are formulated.
Article II the insurance company equity management guided by the following principles:
(A) the classification, punishment is appropriate;
(B) the qualification good, clear;
(C) the reasonable structure, conduct;
(D) transparent and transfer order.
According to article ownership, qualification criteria and the impact on the management of insurance companies, insurance company shareholders are divided into the following three categories:
(A) financial shareholders. Insurance companies owned by refers to less than 10%, no significant effect on insurance company management and shareholders.
(B) strategic shareholders. Insurance companies owned by refers to more than 10% but less than 20% of shareholders; or holding equity is less than 10%, but enough to have a significant impact on insurance company management shareholders.
(C) controlling shareholders. Insurance company owned by refers to 20%, has a controlling influence on insurance company management shareholders or holding's equity is less than 20%, but enough to have a controlling influence on management of insurance companies of the shareholders.
Fourth China insurance regulatory Committee (hereinafter referred to as the China insurance regulatory Commission) shall supervise and administer the insurance company shares. Equity management runs through the following links:
(A) the investment to establish an insurance company;
(B) changing registered capital or equity in insurance companies;
(C) listing of insurance companies;
(D) insurance company mergers and acquisitions;
(E) governance the day-to-day supervision of insurance companies;
(F) insurance companies risk management or liquidation in bankruptcy.
Fifth article of the measures shall apply to the People's Republic of China territory legally registered insurance companies.
Full foreign ownership accounted for 25% per cent of the registered capital of the company, relevant provisions of the applicable foreign insurance company management.
Territory of the foreign insurance company shareholders ' qualifications, mutatis mutandis, the relevant provisions of the measures.
Chapter II shareholder qualification
Article meets criteria as provided herein the following investors, shareholders can be insurance companies:
(A) corporate in the territory;
(B) the limited partnership in the territory;
(C) public institutions and social organizations in the territory;
(D) a foreign financial institution.
Limited partnerships, public institutions and social organizations can become financial shareholders.
Natural persons, asset management planning, trusts and other investors can buy publicly traded insurance company stock become financial shareholders. Investor to entrust the same investment in insurance companies, or affiliates, holding together, except as otherwise stipulated by the Circ.
Investor of the seventh to become financial shareholders, subject to the following conditions:
(A) in good financial standing, profit last fiscal year;
(B) the normal tax records, has no record of tax evasion in the last three years;
(C) the good credit record, no significant credit records in the last three years;
(Iv) compliance is in good condition, no major violation records in the last three years;
(E) the laws, administrative regulations and other conditions stipulated by the Circ.
Eighth strategic shareholders of insurance company investors, except as provided in this article seventh, but should also meet the following conditions:
(A) of good reputation, core business, and investment operations;
(B) the continuing funding capacity, the most recent three consecutive profit in the fiscal year;
(C) have strong financial strength, with a net worth of not less than 200 million Yuan;
(D) the deduction of long-term equity investment balance of net assets (including investment,);
(E) the laws, administrative regulations and other conditions stipulated by the Circ.
Investors need to prepare consolidated financial statements, the consolidated financial statements and parent company financial statements of relevant indicators shall also meet the above requirements. Does not meet the requirements, the need to give a reasonable explanation and found by the Circ.
Nineth become the controlling shareholder of the insurance company investors, except in accordance with the method set forth in seventh and eighth, but should also meet the following conditions:
(A) recently no less than 10 billion yuan in total assets by the end of the year;
(B) total assets net assets of not less than 30%;
(C) the ratio of assets and liabilities, financial leverage rate shall not be higher than the industry average;
(D) the laws, administrative regulations and other conditions stipulated by the Circ.
Article tenth investors limited partnership, except as provided in this article seventh, but should also meet the following conditions:
(A) the general partner should be good credit record, no major violation records;
(B) with duration, should undertake in existence prior to the expiration of transfer of equity held by insurance companies.
11th investor institutions, social organizations, except as provided in this article seventh, but should also meet the following conditions:
(A) main business or major insurance-related;
(B) not responsible for administrative functions;
(C) the approval by the competent bodies.
12th investor to financial institutions, shall comply with the laws and administrative regulations of the financial regulator and industry regulatory requirements.
13th investors for overseas financial institutions, except in accordance with the method set forth in seventh or eighth or Nineth, but should also meet the following conditions:
(A) the last three consecutive profit in the fiscal year;
(B) at the end of last year no less than $2 billion in total assets;
(C) international rating agencies in the last three years of its long-term credit rating to a-level or above;
(D) comply with the regulatory requirements of the financial regulator, where.
14th investor for an insurance company, only to invest in its insurance subsidiaries of the initiated the establishment or acquisition, and subject to the following conditions:
(A) the opening for more than three years;
(B) good corporate governance, internal controls and improve;
(C) the Corporation has no record of serious violation of the last year;
(D) not less than 3 billion yuan of net assets; insurance group (holding) company net assets of not less than 10 billion yuan;
(E) the latest quarter core solvency ratio of not less than 75%, overall solvency ratios of not less than 150%, composite risk rating not lower than class b;
(Vi) other conditions stipulated by the Circ.
Purchased from a stock market-listed insurance companies except for equity.
15th natural persons through the purchase of listed insurance companies become financial shareholders and holding insurance companies more than 5% shares, subject to the following conditions:
(A) the normal tax records, no tax evasion records within the last year;
(B) the good credit record, no major credit record within the last year;
(C) compliance in good condition, no major violation records in the last year;
(D) property lawful, comply with the relevant provisions of the money-laundering;
(E) the laws, administrative regulations and other conditions stipulated by the Circ.
16th related parties or in concert together, holding strategic class or standard of controlling shareholders, their stake to shareholders should be consistent with the approach on strategy with the highest class or controlling shareholders of the relevant requirements.
Invest in relationships within the 12 months before the agreement is signed, as a related party.
17th investors the following conditions exist, it shall not be a shareholder of the insurance company:
(A) the uncertainty in equity structure and ownership;
(B) be included in the list of the Supreme People's Court, lose the trust of the people;
(C) appointed an insurance company owned by others or accept the delegate;
(D) once investment in insurance companies, provides false materials or made false declarations;
(E) once investment in insurance companies, failed to insurance companies or major irregularities have a great responsibility;
(F) once investment in insurance companies, refused to cooperate with the China insurance regulatory Commission Regulation.
18th investors become the controlling shareholder of the insurance company, shall meet the investment of insurance capital, risk control and prudent investment philosophy, the following conditions exist, must not become the controlling shareholder of the insurance company:
(A) cash flow fluctuations greatly influenced by the economy;
(B) have a record of bad behavior on the open market;
(C) there was bad faith business practices, resulting in adverse effects;
(D) once authorities confirmed irregularities.
Insurance companies who actually control provisions of the preceding paragraph shall apply.
Chapter III stake
19th the following ways for investors to, by the insurance company shares:
(A) to establish an insurance company;
(B) subscribe for shares issued by the insurance company by agreement;
(C) by agreement the insurance company shares held by other shareholders;
(D) to auctions for other auction of the shareholders ' equity of insurance companies;
(E) purchased from a stock market-listed insurance companies equity;
(F) purchase insurance company convertible bonds, in compliance with contract conditions by the insurance company shares;
(VII) as a pledgee of shares of insurance companies, in accordance with the relevant provisions of the conditions by the insurance company shares;
(VIII) participation in the China insurance regulatory Commission on the insurance company's risk handling plans for equity;
(I) approved by the China insurance regulatory Commission in other ways.
20th Investor investment insurance companies should be fully aware of the operating characteristics of the insurance industry, business law and as an insurance company shareholders ' responsibilities and obligations, learn about the risk management of the insurance company and the potential information, perform necessary internal decision-making procedures, investment willingness.
Established insurance company the 21st to obtain stakes in insurance companies, should be in accordance with the Insurance Act and the regulations on the management of insurance companies and other specified conditions and procedures, through the insurer's establishment and the opening process.
22nd subscribe for insurance companies issued by agreement of equity or insurance company shares held by the other shareholder shall be agreed upon in the regulation of insurance companies, insurance companies undertake internal review and decision-making process, CIRC approval or for the record in accordance with these measures.
Regulation of insurance companies agreed shareholders ' stake to other shareholders have the preemptive right, transfer of shares of shareholders should ask the insurance company in accordance with the Constitution Convention, complete equity the preemptive right to the necessary procedures.
Article 23rd equity auction transfer of insurance companies, insurance company shall, before the auction the auctioneer told the relevant provisions of these measures. Investors view of its own with appropriate qualifications, may participate in the auction. After acquired equity of insurance companies, should be in accordance with the regulations, CIRC approval or for the record. No license, equity investors shall made within one year from the date of disposal.
24th investors from the stock market to buy listed shares of insurance companies, shareholdings reached 54th stipulated ratio of these measures should be reported to the approval of the China insurance regulatory Commission. No permission, should be not to permit 50 days from the date of transfer. In case of suspension, should be out within ten days from the date of resumption.
25th investors agreed to buy the insurance company convertible bonds convert to equity in accordance with the contract conditions, or through the realization of the pledged right to obtain stakes in insurance companies, CIRC approval or for the record in accordance with these measures.
Article 26th equity transfer involving the State-owned assets, shall comply with the relevant provisions of the State-owned assets management.
Through administrative acts such as allocation on the management of State-owned equity of insurance companies merging, shall comply with the provisions of this approach on the conditions of ownership and investor.
27th stake acquisition of insurance companies shall comply with the provisions of the insurance companies merger and acquisition management.
28th through participation in the employee stock ownership plan shares, shareholding and shareholding ratio shall be determined separately by the China insurance regulatory Commission.
29th insurance company owned by shareholders, shall comply with the following requirements:
(A) single shareholder's stake does not exceed the total share capital of the insurance company one-third;
(B) a single limited partnership stake does not exceed the total share capital of the insurance company 5%, together holding no more than 15%;
(C) insurance companies as business investment in innovation, specialization or group management needs to establish an insurance company, maximum which is not restricted;
(D) approved by the China insurance regulatory Commission, of risk management measures on insurance companies, shareholding limit without restriction.
Associated shareholders, ownership consolidations.
Article 30th unless approved by the China insurance regulatory Commission involved in the risk management of insurance companies and other special circumstances, the same investors can only become a controlling shareholder of the insurance company engaged in similar business.
Insurance for business innovation or specialized business investment to establish an insurance company not subject to restrictions in the preceding paragraph, but the stake in investment in insurance companies within five years should be more than 50%.
Investors become shareholders in the insurance company strategy of no more than two of them.
Number of investors financial shareholders are not restricted.
31st investors insurance company owned by others or accept the Commission shall not delegate.
Chapter fourth shareholder funds
Article 32nd investors stakes in insurance companies made money, should ensure that legitimate sources.
Article 33rd investors shall be effected in cash, not in kind, intellectual property rights, land tenure and other non-monetary property pricing, investment.
Circ insurance group (holding) company except as otherwise provided.
Article 34th investor shall not directly or indirectly through the Fund made equity of insurance companies:
(A) the borrowing in connection with insurance companies;
(B) of the insurance companies pledge of funds obtained deposits or other assets;
(C) investment trust plans to insurance companies, private equity, equity investment and other funds obtained;
(D) misuse of the insurer's financial influence or improper relationships with insurance companies made money.
35th trust companies, fund companies, financial companies and other institutions are able to trust funds or invested insurance companies entrusted with the management of funding.
These institutions for the investment of trust funds or manage funds, can only become the insurance company's financial shareholders, and progressive disclosure should be holder of a trust or fiduciary funds and other investments of the insurance company, the insurance company relationships between people.
36th preparatory group insurance companies and insurance companies, should be in accordance with the relevant provisions of the State, open capital verification account and used.
Investors appealed to the insurance fund should be verified by a public accounting firm and the capital verification certificate issued by.
37th Circ approval date, replenishment amounts can be calculated as the registered capital of an insurance company solvency.
Chapter fifth shareholder's behavior
38th ownership structure of an insurance company must be clear, reasonable, and should indicate the actual controller.
39th insurance company shareholders shall, in accordance with the People's Republic of China law and insurance company articles of Association, shareholders ' rights according to the law, comply with shareholder obligations.
40th insurance company shareholders shall not be unfair affiliated transactions with the insurance company, not to use its influence on the operation and management of the insurance company to Obtain improper benefits.
41st when the insurance company solvency, strategy and controlling shareholder should be increased funding or support insurance companies take reasonable programme introduced a new investment capital increase, improved solvency.
42nd insurance companies or major violations of a risk event occurs, taken over by the China insurance regulatory Commission risk management measures or acts, the shareholder shall cooperate with the China insurance regulatory Commission to carry out risk management.
Article 43rd controlling shareholder should be rigorously exercising control of the insurance company, should not be used to control damage to the insured, the insured, beneficiary, insurance companies and other lawful rights and interests of the shareholders.
44th insurance companies controlling shareholder to exercise the shareholder's rights and obligations of the insurance company, shall comply with the provisions of the China insurance regulatory Commission on the controlling shareholder.
Insurance Group (holding) company holding insurance companies exercise the shareholder's rights and obligations, shall conform to the China insurance regulatory Commission on insurance group (holding) company policy.
Article 45th financial holding company as shareholder of the insurance company, shall establish an effective system of risk isolation, preventing risk crossing pass and improper benefits delivery.
46th insurance company shareholders ' controlling shareholder, actual control changes, the shareholder shall promptly of any changes, and after change of shareholder and the other shareholders and other shareholders control of insurance companies, such as whether there is a relationship between people, written notice to the insurance company.
47th shareholders shall, within 15 working days of the following has occurred, notify the insurer in writing:
(A) the insurance company shares were held by action measures of protection or enforcement;
(B) the insurance company shares were held by the pledge pledge or solutions;
(C) the change of name;
(D) the merger or Division;
(E) dissolution, bankruptcy, closure, being taken over;
(Vi) other situations that may lead to changes in equity held by insurance companies.
48th shareholders pledge any of its stakes in insurance companies, must not harm the interests of other shareholders and the insurance company may not be agreed by the pledgee or a related party to exercise the right to vote.
49th since the date of insurance companies to set up, control the shares held by such shareholder shall not be transferred within three years, such shareholder shall not be transferred within two years of the strategy's equity in financial shares held by the shareholders shall not be transferred within one year.
Approved by the China insurance regulatory Commission to take risk management measures, or controlled by the same controlling person except in special cases such as the transfer of ownership between different subjects.
Chapter Sixth equity Affairs
50th Office of the Board of Directors of insurance companies insurance companies to deal with Equity Office.
Insurance company Chairman and Secretary are directly responsible for insurance company equity Affairs.
51st matters involving administrative Licensing application, report or information submitted, such as equity transactions, handled by the insurance company, and submit materials to the China insurance regulatory Commission and, if necessary, can be submitted directly by the shareholder materials.
Initiated the establishment of an insurance company, or authorized by the full sponsors sponsors submitted materials to the China insurance regulatory Commission.
52nd more than an insurance company changing shareholder 5% shareholders shall be approved by the China insurance regulatory Commission.
Insurance companies changing the shareholder holds less than 5% shares, shall be submitted to the China insurance regulatory Commission records. Except listed insurance companies.
Alteration of the insurance companies who actually control the controlling shareholders, shall not be acquired equity of insurance companies as the main subject. Except as otherwise stipulated by the Circ.
53rd of an insurance company shall be three months from the date of the shareholders ' equity transfer agreement signed within the CIRC approval or for the record.
54th stock investors buy publicly traded insurance company, its insurance company per cent stake owned by 5%, 10% and 20% shall, within 15 working days from the date of the transaction report to the insurance company, an insurer shall on receipt of the report within ten working days after approval of the China insurance regulatory Commission.
55th article of the insurer's shareholders and its controlling shareholders or actual control of the circumstances prescribed in the article 46th or 47th, the insurance company should know that within 15 working days from the date, written reports to the Circ.
56th insurance company shall, in accordance with the relevant regulations, timely, truthful, accurate and complete disclosure of information related to equity of insurance companies.
57th insurance company shall obtain approval of the CIRC or filed within three months from the date of completion of changes in regulation and registration.
58th insurance company shall strengthen the management of stock right pledge reconciliation pledge, pledge information recorded on the register of shareholders, and to assist shareholders in a timely manner to the relevant agency for the registration of the pledge.
The seventh chapter material declaration
59th application materials submitted by an insurance company or investor, must be true, accurate and complete. Li dongrong Internet financial regulation combating
Established or invest in the 60th to apply for insurance companies, according to regulations should apply in writing to the CIRC and related administrative permit application materials submitted. Related materials include the following categories:
(A) basic statistics classes;
(B) financial information;
(C) corporate governance classes;
(D) the subsidiary information.
61st basic class material includes the following files:
(A) copy of business license;
(B) business scope;
(C) Organization and management structure;
(D) the description of the long-term equity investment abroad;
(E) take shares in other financial institutions and their affiliates such as description of the situation.
62nd financial information material includes the following files:
(A) by an accounting firm on the audit of the annual financial reports;
(B) offshore financial institutions, strategic shareholders or controlling shareholders by an accounting firm for the last three years of financial and accounting reports;
(C) Note on sources of stakes;
(D) the last three years the tax certificate;
(E) issued by the credit reporting agencies their credit records;
(Vi) international rating agencies for the long-term credit ratings of foreign financial institutions in the past three years.
63rd corporate governance material including the following specific documents:
(A) progressive disclosure of ownership structure of related materials;
(B) the public disclosure of equity-related supporting documents;
(C) controlling shareholders and actual controllers and its changes over the last year;
(D) the signed equity investor subscription agreement;
(E) the shareholders (shareholder) or the Board of Directors agreed that evidence of their investment;
(Vi) investment and the actual control associated relationship with insurance companies other investors note;
(VII) insurance company actual controller or controlling shareholder control of duty experience, track record, previous investments and other explanatory materials.
64th subsidiary information materials include the following files:
(A) the investor attorney on submitted material;
(B) the authorities agreed that its investment in supporting documents;
(C) the prudential supervision of financial institutions index report and the opinions issued by the local financial regulator;
(D) within the last three years has no record of serious violation of statement;
(E) according to the China insurance regulatory Commission require declarations or other commitments.
65th limited to insurance companies to invest in the partnership, except as provided in this article 61st through 64th related materials, the need to submit the following documents:
(A) disclosure of funding sources and description of partners background materials, including name, nationality, business or occupation, such as its capital contribution;
(B) the partner in charge of implementation commitment on funding sources is not a violation of anti-money-laundering regulations.
66th to insurance companies invested in of natural persons, and should submit the following materials:
(A) most recent year tax certificate;
(B) recent statement has no record of serious violation within one year;
(C) the Declaration of the property in accordance with anti money-laundering regulations.
67th insurance company changes its registered capital shall apply in writing to the CIRC, and submit the following materials:
(A) the shareholders ' meeting or general meeting of shareholders of the company by increasing the resolution or reduction of the registered capital;
(B) the increase or decrease of the registered capital programmes and feasibility studies;
(C) the increase or decrease of the registered capital equity structure;
(D) capital verification report and reduced shareholder or certificate;
(E) participation in the capital increase of shareholders by an accounting firm on the audit of the annual financial reports;
(Vi) name of the exiting shareholders, and reduce capital amount;
(VII) other materials stipulated by the Circ.
Insurance companies add new shareholder shall submit the related materials provided for in article 61st through 64th.
68th shareholders to transfer their shares of an insurance company, the insurance company shall be approved or registered by the CIRC, and submit the equity transfer agreement and the transferee of the accounting firm audited financial reports of the previous year.
The transferee as a new shareholder, should also be submitted to the related material provided for in article 61st through 64th.
69th insurance company changes its registered capital or shareholders to transfer their ownership involving acquisitions, should also be in accordance with the relevant provisions of the measures for the management of insurance company mergers and acquisitions provided materials.
70th insurance company reporting to the CIRC equity taken action preservation or when it is enforced, and shall submit the relevant judicial documents.
71st insurers when reporting to the CIRC pledge pledge or solution, the following documents shall be submitted:
(A) the pledge or solutions of pledge contracts;
(B) the principal debt contracts;
(C) the registration document issued by relevant departments;
(D) description of the relationship between the Pledger and the debtor;
(E) all pledge as at reporting date.
72nd when an insurance company changed its name to the CIRC report shareholders shall submit the changed business licenses and the registration document issued by relevant departments.
Eighth chapter equity regulation
73rd China insurance regulatory Commission to take the following measures to implement Regulation for insurance company equity:
(A) the shares obtained according to law or change the implementation of administrative licensing;
(B) according to the relevant regulations or regulatory needs, require insurance companies to report stock-related matters;
(C) the direct supervision of conduct involving insurance shareholders conversations, public inquiries or examinations;
(D) require insurance companies to disclose in specified media ownership information;
(E) the required specialized intermediary institution to review the financial reports and other information provided by the insurance company, costs borne by the insurance company;
(F) check and those responsible for breaches or insurance companies impose administrative penalty according to law;
(G) the CIRC that can take other regulatory measures.
74th Circ for insurance company equity or change the implementation of administrative licensing, and focus on the following:
(A) declare the authenticity and completeness of the information;
(B) the insurance company compliance of the decision-making process;
(C) compliance qualification of shareholders and their investment behavior;
(D) the authenticity of the source of funding, compliance;
(E) relationship between shareholders;
(F) the CIRC deems it necessary to review the other content.
75th China insurance regulatory Commission for insurance company equity or change the implementation of administrative licensing, you can take the following approach to the review:
(A) to review the application materials;
(B) requires insurance companies or shareholders as required to submit further supporting documents;
(C) to regulate insurance companies or shareholders for conversation and public inquiries;
(D) requires shareholder progressive disclosure or actual control of its shareholders;
(E) the view account and information to relevant institutions;
(F) field visits or investigation of shareholder management such as;
(VII) Circ is considered necessary, to the other reviews.
76th in the course of administrative licensing, investors, insurance companies or shareholders of one of the following circumstances exists, the CIRC may discontinue consideration of:
(A) the relevant equity ownership;
(B) be investigation report is required;
(C) by the relevant authorities for alleged illegal investigations;
(D) for alleged illegal investigations by the Justice Department, has not yet been completed;
(E) prosecution pending.
77th in the administrative licensing or regulatory process, the CIRC may require insurance companies to shareholders or shareholder relationships or sources legitimacy to statements on this issue.
78th in the administrative licensing or regulatory process, the CIRC may require an insurance company or shareholders provide relevant qualifications, relationships and investing in funds such as the authenticity of the information to make a declaration, and provided false information or false statement of commitment should be made to suffer the consequences.
79th investors become the controlling shareholder of the insurance company, an insurer shall amend the company's Charter, rules of nomination and election of Directors, shareholders and the interests of the policyholders, insured, beneficiary protection make reasonable arrangements.
Nineth chapter liability
80th of an insurance company is not in compliance with these rules of equity management, the CIRC may adjust the insurance company corporate governance results regulatory evaluation or classification category.
81st insurance company and its directors and senior managers in the management of share fraud, malfeasance, and seriously damage the interests of the insurance companies, the China insurance regulatory Commission on its imposition of administrative penalty according to law, or require insurance companies to replace the relevant parties.
82nd insurance company shareholders or related parties in violation of the rules, the China insurance regulatory Commission can take the following measures:
(A) notice of criticism and correction;
(B) publicly condemned and disclosed to the community;
(C) limit its insurance-related rights;
(D) to order legally transferred or auctioned its stakes. Completing the assignment of limited duration, specified by the CIRC investors according to the evaluation of the price of the equity;
(E) limiting its investment activities in the insurance industry, and to inform the other financial regulators;
(F) limit by law the insurance company dividends, debt issuance, listing and other acts;
(G) the regulator considers that other measures according to law.
83rd China insurance regulatory Commission establish a record of poor management of insurance companies, into the enterprise credit information system of insurance, through the national information sharing platform with other departments or Government agencies to share information and open to the public at the appropriate time.
The tenth chapter by-laws
84th insurance group (holding) company or insurance asset management company equity management in the light of the application of this approach, provisions of laws, administrative regulations, or the China insurance regulatory Commission, from its provisions.
85th article this referred to "more than", "less than" and "not less than" are included in this number, "less than" and "more than" excluding the number itself.
86th in the national listing of share transfer system for SMEs reference these measures shall apply to the listing of insurance companies insurance companies rules.
87th explain these measures by the China insurance regulatory Commission.
88th article this way since the day of promulgation. China Circ May 4, 2010 released of insurance company equity management approach (CIRC makes (2010) 6th,), and April 15, 2014 released of China insurance supervision Management Committee on modified < insurance company equity management approach > of decided (CIRC makes (2014) 4th,), and April 9, 2013 released of China insurance supervision Management Committee on < insurance company equity management approach > fourth article about problem of notification (insurance prison sent (2013) 29th), released on April 17, 2013, the China insurance regulatory Commission on regulating the type enterprise investment limited partnership shares of insurance companies issued the notice on relevant issues (OCI (2013), 36th) repealed simultaneously.
