中华人民共和国证券法XXXX(英文版)

烟台大学法学院法律硕士张川方中华人民共和国证券法LawofthePRConSecuritiesNo.43OrderofthePresidentofthePRCTheLawofthePeople’sRepublicofChinaonSecurities,revisedandadoptedattheEighteenthMeetingoftheStandingCommitteeoftheTenthNationalPeople’sCongressofthePeople’sRepublicofChinaonOctober27th,2005,isherebypromulgatedandshallgointoeffectasofJanuary1st,2006.HuJintao,PresidentofthePRCOctober27th,2005LawofthePRConSecurities(AdoptedattheSixthMeetingoftheStandingCommitteeoftheNinthNationalPeople'sCongressonDecember29th,1998AmendedinaccordancewiththeDecisiononAmendingtheLawofthePeople'sRepublicofChinaonSecuritiesattheEleventhMeetingoftheStandingCommitteeoftheTenthNationalPeople'sCongressonAugust28th,2004RevisedattheEighteenthMeetingoftheStandingCommitteeoftheTenthNationalPeople'sCongressonOctober27th,2005)C-IGeneralProvisionsArticle12013-1-2415:15:28ThisLawisenactedforthepurposeofregulatingtheissuingandtrading(发行和交易行为)ofsecurities,protectingthelawfulrightsandinterestsofinvestors,safeguardingtheeconomicorderandpublicinterestsofthesociety(社会经济秩序),andpromotingthesocialistmarketeconomy.Article2(1)WithintheterritoryofthePeople’sRepublicofChina,thisLawshallbeapplicabletotheissuingandtradingofshares,corporatebondsandsuchothersecuritiesasmaybesodescribed(认定的)bytheStateCouncilpursuanttolaw;wherenotstipulatedhereunder(本法未规定的),theprovisionsoftheCompanyLawofthePeople’sRepublicofChinaandotherlawsandadministrativeregulationsshallapply(适用).(2)ThisLawshallbeapplicabletothelistingandtradingofgovernmentbonds(政府债券)andunits(份额)ofsecuritiesinvestmentfunds(证券投资基金);whereotherwisestipulated(有特别规定的)underotherlawsoradministrativeregulations,theprovisionsthereofshallbeapplicable.(3)Theregulatorymeasures(管理办法)fortheissuingandtradingofthederivativevarietiesofsecurities(证券衍生品种)shallbeformulatedbytheStateCouncilinadherenceto(依照)theprinciplesofthisLaw.Article3Theprinciplesofopenness,fairnessandimpartialitymustbecarriedout(必须实行)inissuingandtradingsecurities.Article4Allpartiesinvolvedintheissuingandtradingofsecuritiesshallstandequallyinlaw(具有平等的法律地位)andshallobservetheprinciplesoffreewill(自愿),compensation(有偿)andhonestyandtrustworthiness.Article5Securitiesshallbeissuedandtradedinconformitywithlawsandadministrativeregulations.Fraud,insidertrading(内幕交易)andmanipulationofthesecuritiesmarket(证券市场)shallbeprohibited.Article6Theoperationandadministrationofthesecuritiesindustryshallbeseparatedfrom(分业经营、分业管理)theoperationandadministrationoftheindustriesofbanking,trustandinsuranceandsecuritiescompaniesshallbeestablishedindividuallyandseparately(分别设立)fromtheinstitutionsofbanking,trust(信托)andinsurancebusiness,unlessotherwisestipulatedbytheState.Article7(1)Thesecuritiesregulatoryauthority(证券监督管理机构)undertheStateCouncilshallexercisecentralizedandunifiedregulation(集中统一监督管理)overthesecuritiesmarketsnationwidepursuanttolaw.(2)ThesecuritiesregulatoryauthorityundertheStateCouncilmayestablishlocaloffices(派出机构)accordingtoitsneeds,whichshallperformregulatoryfunctionsasauthorized(按照授权).Article8SubjecttothecentralizedandunifiedregulationoftheStateovertheissuingandtradingofsecurities,anassociationofthesecuritiesindustry(证券业协会)shallbeformedpursuanttolawimplementingself-disciplinedgovernance(自律性管理).Article9TheStateauditauthority(国家审计机关)shallexerciseauditingsupervision(审计监督)overthestockexchanges(证券交易所),securitiescompanies,securitiesregistrarandsettlementinstitutions(登记结算机构)andsecuritiesregulatoryauthoritiespursuanttolaw.C-IIIssuingofSecuritiesArticle10(1)Theconditionssetforth(规定的)bylawsandadministrativeregulationsmustbesatisfiedinthepublicissuance(公开发行)ofsecurities,andsuchissuancemust,pursuanttolaw,besubmittedtothesecuritiesregulatoryauthorityundertheStateCouncilorthedepartmentauthorizedbytheStateCouncilforexaminationandapproval(核准);withoutsuchexaminationandapprovalpursuanttolaw,noentities(单位)orindividualsmayissuesecuritiespublicly.(2)Anyofthefollowingcircumstancesshallconstitute(为)apublicissuance:(a)issuingsecuritiestonon-specificpersons(不特定对象);(b)issuingsecuritiestomorethan200specificpersonsintheaggregate(累计，合计);and(c)suchotherissuingactivities(发行行为)asmaybesoprescribedbylawsoradministrativeregulations.(3)Wheresecuritiesareissuedinnon-publicmanners(非公开地),noadvertising,publicsolicitation(公开劝诱)orothercovertways(隐蔽的方式)indisguisedform(变相)shallbeemployed.Article11(1)Whereanapplicationismadeforpublicissuanceofsharesorcorporatebondsconvertibleintosharesandsuchissuanceshalltakeplacebywayofunderwriting(采取承销方式)pursuanttolaw,orwhereanapplicationismadeforpublicissuanceofothersecuritieswhichissubjecttothesponsorshipsystem(保荐制度)asprescribedbylawsoradministrativeregulations,theissuershallengagetheinstitutionwithsponsorshipqualifications(保荐资格)toactasasponsor.(2)Asponsorshallobservebusinessrules(业务规则)andindustrialnorms(行业规范),actwithintegrityandcredibility(诚实守信),dischargeitsresponsibilitydiligentlyanddutifully(勤勉尽责),scrupulouslyexaminetheissuer’sapplicationdocumentsanddisclosurematerials(信息披露资料),andsuperviseandguide(督导)theissuertooperateproperly(规范运作).(3)Thequalificationsofsponsors(保荐人的资格)andtheregulatorymeasuresgoverningsponso