证券法英文版

证券法英文版(Adoptedatthe6thSessionoftheStandingCommitteeofthe9thNationalPeople'sCongresson29December1998;firstrevisionaccordingtotheAmendingthePRC,SecuritiesLawDecisionatthe11thSessionoftheStandingCommitteeofthe10thNationalPeople'sCongresson28August2004;secondrevisionadoptedatthe18thSessionoftheStandingCommitteeofthe10thNationalPeople'sCongresson27October2005andeffectiveasof1January2006.)PARTONE:GENERALPROVISIONSArticle1:ThisLawisformulatedinordertostandardizetheissuingandtradingofsecurities,toprotectthelawfulrightsandinterestsofinvestors,tosafeguardthesocialandeconomicorderandthepublicinterestandtopromotethedevelopmentofthesocialistmarketeconomy.Article2:ThisLawappliestotheissuingandtradinginthePeople'sRepublicofChinaofshares,corporatebondsandsuchothersecuritiesasarelawfullyrecognizedbytheStateCouncil.IssuesnotcoveredbythisLawshallbegovernedbytheprovisionsofthePRC,CompanyLawandotherlawsandadministrativeregulations.ThelistingandtradingofgovernmentbondsandsecuritiesinvestmentfundsharesshallbegovernedbythisLaw.Wheretherearespecialstipulationsinotherlawsandadministrativeregulations,suchstipulationsshallapply.TheadministrativeproceduresontheissuingandtradingofvarietiesofsecuritiesderivativesshallbestipulatedbytheStateCouncilaccordingtotheprinciplesofthisLaw.Article3:Theissuingandtradingactivitiesofsecuritiesmustbecarriedoutinlinewiththeprincipleofopenness,equitabilityandfairness.Article4:Thepartiesinvolvedintheissuingandtradingofsecuritiesshallhaveequallegalstatusandadheretotheprincipleofvoluntariness,compensationandgoodfaith.Article5:Theissuingandtradingofsecuritiesmustbeconductedinaccordancewithlawsandadministrativeregulations.Fraudulentandinsidertradingandmanipulationofthesecuritiesmarketareprohibited.Article6:UnlessstipulatedotherwisebytheState,securitiesbusiness,andbankingbusiness,trustbusinessandinsurancebusinessshallbeoperatedandadministeredseparately,andsecuritiescompaniesshallbeestablishedindependentlyfrombanking,trustandinsurancebusinessorganizations.Article7:TheStateCouncil'ssecuritiesregulatoryauthorityshallimplementcentralizedandunifiedregulationofthenationwidesecuritiesmarketaccordingtolaw.TheStateCouncil'ssecuritiesregulatoryauthoritymayestablishofficesasnecessary,inordertoperformitsregulatorydutiesasauthorized.Article8:SubjecttocentralizedandunifiedregulationbytheStateofsecuritiesissuingandtradingactivities,aSecuritiesAssociationshallbeestablishedaccordingtolawtocarryoutself-regulation.Article9:TheStateauditauthorityshallsupervisestockexchanges,securitiescompanies,securitiesregistrationandclearinginstitutionsandthesecuritiesregulatoryauthoritybyauditaccordingtolaw.PARTTWO:ISSUINGOFSECURITIESArticle10:Publicoffers1ofsecuritiesmustmeettheconditionsprescribedinlawsandadministrativeregulationsandbereportedaccordingtolawtotheStateCouncil'ssecuritiesregulatoryauthority,orthedepartmentauthorizedbytheStateCouncil,forverificationandapproval.Noworkunitorindividualmaymakeapublicoffer2ofsecuritiesifthesamehasnotbeenverifiedandapprovedaccordingtolaw.Thefollowingcircumstancesshallbedeemedasapublicoffer:issuesecuritiestounspecifictargets;issuesecuritiestoanaggregateof200specifictargets;orotheractsofofferstipulatedinlawsoradministrativeregulations.Non-publicofferofsecuritiesmaynotuseadvertising,publicinducementorpublicmethodinadisguisedform.Article11:Whereanissuerappliesforpublicofferofsharesorcorporatebondsconvertibletosharesusingaformofunderwritingaccordingtolaworitappliesforpublicofferofothersecuritiesthataresubjecttothesponsorsystemaccordingtotheprovisionsoflawsandadministrativeregulations,itshallengageaninstitutionwithsponsorqualificationstobeitssponsor.Thesponsorshallcomplywiththebusinessrulesandindustrystandards,actingoodfaithandwithduediligence,prudentlyverifytheapplicationdocumentsandinformationdisclosurematerialsoftheissuer,andprocureandguidetheissuertooperateinastandardizedmanner.ThequalificationsofsponsorsandtheadministrativeproceduresinrelationtheretoshallbestipulatedbytheStateCouncil'ssecuritiesregulatoryauthority.Article12:Establishmentofacompanylimitedbysharestomakeapublicoffer2ofsharesshallmeettheconditionsstipulatedinthePRC,CompanyLaw,andotherconditionsstipulatedbytheStateCouncil'ssecuritiesregulatoryauthoritythathavebeenapprovedbytheStateCouncil;andashareofferingapplicationandthefollowingdocumentsshallbesubmittedtotheStateCouncil'ssecuritiesregulatoryauthority:thecompany'sarticlesofassociation;thepromoters'agreement;thenamesofthepromoters,thenumberofsharessubscribedbythepromoters,thetypesofcapitalcontributionandthecapitalverificationdocuments;theshareprospectus;thenameandaddressofthereceivingbank;andthenameoftheunderwritinginstitutionandtherelatedagreement.Ifasponsorisengagedinaccordancewiththeprovisionshereof,theissuancesponsorshipdocumentissuedbythesponsorshallalsobesubmitted.Iftheestablishmentofthecompanyissubjecttoapprovalasstipulatedbylawsoradministrativeregulations,thecorrespondingapprovaldocumentshallalsobesubmitted.Article13:Tomakeapublicoffer2ofnewshares,acompanyshallmeetthefollowin