美国外资并购国家安全审查制度的新发展

20101085PresentdayLawScienceOct.2010Vo.l8No.5*韩龙1,沈革新2(1.中南财经政法大学法学院,湖北武汉430073;2.连云港海事局,山东连云港222024):9.11之后,伴随美国对国家安全的关注度加强,2007年和2008年美国相继出台了FINSA和!外国人合并收购接管条例∀,对美国外资并购国家安全审查制度做出了重大修改,涉及到审查对象审查标准审查程序和审查机构等方面对审查对象的修改,主要是对受管辖的并购交易的范围进行了明确,同时对不受管辖的并购交易做出了列举对审查标准的修改,主要体现在对关键性基础设施做出了界定,增加了CFIUS在审查时所考虑的6项因素,明确了与国家安全相关的国家安全担忧对审查程序的修改,增加了审查前磋商交易方须提供的信息,规定了并购交易审查的重新提起程序对审查机构的修改,主要体现在增加和变动了CFIUS的成员,引入了牵头部门,加强了国会监督:外资并购;国家安全审查;FINSA;新发展:D996:A:1672769X(2010)05009311TheLatestDevelopmentofU.S.NationalSecurityReviewSystemonForeignAcquisitionsHANLong1,SHENGGexin2(1.LawSchoolZhongnanUniversityofEconomics&Law,Wuhan,Hubei430073,China;2.LianyungangMaritimeAdministration,Shandong,Liangyungang222024,China)Abstract:In2007and2008,theU.S.governmentissuedFINSAandRegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersonsinsuccession,whichamendedthenationalsecurityreviewsystemoftheUnitedStatesonforeignacquisitions.Theamendmentsinvolvefouraspects:reviewobjec,treviewstandard,reviewprocedureandreviewinstitution.Asregardsreviewobject,theamendmentsclearlydefinethescopeofcoveredtransactionandlisttransactionsthatarenotcoveredtransactions.Asregardsreviewstandard,theamendmentsdefinecriticalinfrastructure,add6morefactorsthatCFIUSneedtotakeintoaccoun,tanddefinenationalsecurityconsiderationrelatedwithnationalsecurity.Asregardsreviewprocedure,theamendmentsrequireconsultationwithCFIUSbeforeformalnotice,andaddinformationtobeprovided,stipulatetherestartofreviewprocedureincertainconditions.Asregardsreviewinstitution,theamendmentsaddnewmemberstoCFIUS,introducetheleadagency,andenhancesupervisionoftheCon93*2010-08-162008(:08AJY013)2007###(:07SFB2046)1,,,,,,:;2,,,gress.Keywords:foreignmergersandacquisitions;nationalsecurityreview;newdevelopment9.11,,,2007,!∀(ForeignInvestmentandNationalSecurityAc,tFINSA),2080-200811,!∀###!∀(RegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersons)FINSA2008!∀,1988-(ExonFlorioProvision)1988,∃(J.JamesExon)∃(JamesJ.Florio),%1&,,-(ExonFlorioProvision)-1988!∀(OmnibusTradeandCompetitivenessAct)5021,1950!∀(DefenseProductionActof1950),!∀721%2&,(),:(1),;(2)!∀(InternationalEmergencyEconomicPowersAct),%3&,%4&-,-,1991!∀(RegulationsPertainingtoMergers,AcquisitionsandTakeoversbyForeignPersons)(1991!∀),-,1993!∀837!∀721,,,,(Byrd),(ByrdAmendment)FINSA,9.119.11,,,(CommitteeonForeignInvestmentintheUnitedStates,CFIUS),,CFIUS2005720062(P&O),,FINSA94%1&%2&%3&%4&,RegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersons(2008),Sec.800.222:Section721.-,!∀,,,.:[J].,2007,(4):133.2006,,(DubaiPortsWorld,DPW)(P&O),CFIUS,,:,500,:9∃11,9∃11,,,,,FINSA,,20071024FINSA!∀721(FINSA)FINSA20081114!:∀(FinalRule:RegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersons)(2008!∀)%5&,1232008!∀!∀(GuidanceConcerningtheNationalSecurityReviewConductedbytheCommitteeonForeignInvestmentintheUnitedStates),CFIUS(nationalsecurityconsideration),,FINSA!∀7212008!∀,2007FINSA,1991!∀,2007FINSA###2008!∀FINSA2008!∀,FINSA2008!∀,FINSA2008!∀()-1991!∀-,(),(suspend)(prohibit)1991!∀%6&()FINSA2008!∀FINSA2008!∀FINSA###(coveredtransaction)CFIUSFINSA,2008!∀,(U.S.business),1988823%7&FINSA,(acquisition,)(Transaction),2008!∀95%5&%6&%7&FINSAFINSA180,,RegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersons(1991),Sec.800.101:Scope.RegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersons(2008),Sec.800.207:Coveredtransaction.(Coverage),,,1(Transactionsthatarecoveredtransactions)2008!∀800.301,:(1),(foreignperson)(U.S.business)CFIUS(2),(3)(assets),1991!∀,%8&,,,2008!∀,,,∋,;(%9&,,,(4),,,2008!∀,,,2(Transactionsthatarenotcoveredtransactions),2008!∀800.302:(1),(2)(passiveinvestment),10%,2008!∀800.223,,,,(3),,(4)(5)FINSA,2008!∀,,,FINSA2008!∀,,CFIUS,CFIUSCFIUS(nationalsecurityconsideration)2008!96%8&%9&RegulationsPertainingtoMergers,Acquisitions,andTakeoversbyForeignPersons(1991),Sec.800.201:Acquisition.2008!∀800.301(c),∀,,,CFIUS,,2008!∀800.104(Transactionsordevicesforavoidance):!∀721,!∀7212008!∀:A!∀721,A,AA!∀7211950!∀721,FINSA2008!∀,CFIUS,,,,,,()-1991!∀-1991!∀:(1);(2),;(3)(citizen),;(4);(5)1991!∀(preamble),(positive),(negative);;CFIUS,,CFIUS()FINSA2008!∀FINSA-,FINSASec.2.(5),(homelandsecurity),(criticalinfrastructure)Sec.2.(6),(systems)(assets),,,FINSA,-5,CFIUS6,FINSASec.46:(1);(2)(criticaltechnologies);(3);(4)():A,;B,;C,;(5);(6)CFIUS2008!∀,FINSA,(entity),,(U.S.business)2008!∀800.22697,(entity)(),(entity),(assets)(),()!∀,,,CFIUS,FINSA(b)(2)(e)CFIUS,,200811,CFIUS!∀(!∀)!∀,,CFIUS%10&!∀1,:(1);(2),,;(3);(4),;(5)2:(1),,;(2)FINSA;(3),,!∀:ABCAB,B,A,C,,,CFIUSCFIUS,!∀,,,,,,-1991!∀,CFIUS,98%10&GuidanceConcerningtheNationalSecurityReviewConductedbytheCommitteeonForeignInvestmentintheUnitedStates,!∀,-1991!∀,CFIUS,,CFIUS,()(consultation)2008!∀,CFIUS!∀:CFIUSCFIUS,,CFIUS%16&CFIUS(StaffChairperson),CFIUS,,,CFIUSCFIUS%17&CFIUS!∀72120,CFIUS,CFIUS,CFIUS2008!∀,CFIUSCFIUS,CFIUS,(),FINSA2008!∀(