外资参股基金管理公司设立规则 Rules on The Establishment of F

外资参股基金管理公司设立规则

现发布《外资参股基金管理公司设立规则》，自2002年7月1日起施行。

第一条　为了适应证券市场对外开放的需要，加强对外资参股基金管理公司的监督管理，明确外资参股基金管理公司的设立条件和程序，根据《公司法》和《证券投资基金管理暂行办法》（以下简称《暂行办法》）的有关规定，制定本规则。

第二条　本规则所称外资参股基金管理公司包括境外股东受让、认购境内基金管理公司股权而变更的基金管理公司，或者境外股东与境内股东共同出资设立的基金管理公司。

第三条　中国证券监督管理委员会（以下简称"中国证监会"）负责对外资参股基金管理公司的审批和监督管理。

第四条　外资参股基金管理公司的组织形式为有限责任公司。

外资参股基金管理公司的名称、注册资本、组织机构的设立及职责，应当符合《公司法》、《暂行办法》和中国证监会的有关规定。

第五条　外资参股基金管理公司应当符合《暂行办法》和中国证监会规定的条件。

第六条　外资参股基金管理公司的境外股东，应当具备下列条件：

（一）为依其所在国家法律设立，并合法存续的金融机构，近三年未受到证券监管机构和司法机关的重大处罚；

（二）所在国家具有完善的证券法律和监管制度，其证券监管机构已与中国证监会签定证券监管合作谅解备忘录，并保持着有效的监管合作关系；

（三）实收资本不少于三亿元人民币的等值自由兑换货币；

（四）中国证监会规定的其他审慎性条件。

第七条　外资参股基金管理公司的境内股东，应当具备中国证监会规定的基金管理公司股东资格条件。

第八条　外资持股比例或者在外资参股的基金管理公司中拥有的权益比例，累计（包括直接持有和间接持有）不超过33%，在我国加入WTO后三年内，该比例不超过49%.

境外股东应当以自由兑换货币出资。

第九条　外资参股基金管理公司的董事长、总经理、副总经理应当具备中国证监会规定的基金管理公司高级管理人员任职资格条件。

第十条　外资参股基金管理公司的境内外申请人应当按照中国证监会规定的内容与格式，向中国证监会报送申请材料。

境内外申请人向中国证监会报送的申请材料，必须使用中文。境外股东及其所在国家证券监管机构出具的文件、资料使用外文的，应当附有与原文内容一致的中文译本。

第十一条　境外股东与境内股东共同出资设立基金管理公司，应当经过筹建和开业两个阶段。

第十二条　中国证监会自正式受理境内外申请人的筹建申请之日起60个工作日内作出批准或者不予批准筹建的决定。批准筹建的，出具批复文件；不予批准的，书面通知申请人，并说明理由。

第十三条　已取得中国证监会筹建批文但未正式开业的基金管理公司，如境外股东的基本情况发生重大变化，或因违规受到有关国家、地区的监管机构处罚或重点监控的，该境外股东应及时提请召开基金管理公司发起人会议，说明有关情况。如境外股东不再符合本规则的条件，发起人会议应提出处理意见，由公司筹备组及时报告中国证监会，办理相关事宜。

第十四条　境内外申请人在基金管理公司筹建完成后，向中国证监会报送基金管理公司开业申请材料。

中国证监会自受理开业申请之日起30个工作日内作出批准、延迟批准或不批准开业的决定。批准开业的，出具批准文件；拟延迟批准或不批准开业的，书面通知申请人，并说明理由。

第十五条　境外股东受让、认购境内基金管理公司的股权，由基金管理公司向中国证监会报送申请材料。

中国证监会自正式受理申请之日起60个工作日内，作出批准或者不予批准的决定。批准申请的，出具批复文件；不予批准的，书面通知申请人，并说明理由。

对涉及新增股东和出资比例最高、提名董事人数最多的股东变更申请的审核，中国证监会参照基金管理公司筹建审核程序执行。

第十六条　参股基金管理公司的境外股东，其注册地或主要经营活动所在地的主管当局对境外投资有备案要求的，该境外股东在依法取得中国证监会的批准文件后，如向其注册地或主要经营活动所在地的主管当局提交有关备案材料，应当同时将副本报送中国证监会。

第十七条　外资参股基金管理公司的股东应在取得中国证监会的批准文件后30个工作日内，向工商行政管理机关办理公司变更或者设立登记。

第十八条　香港特别行政区、澳门特别行政区和台湾地区的投资者参股内资基金管理公司的，比照适用本规则。

第十九条　外资参股基金管理公司的设立、变更、终止、业务活动及监督管理事项，本规则未作规定的，适用中国证监会的其他有关规定。

第二十条　本规则自2002年7月1日起施行。

Rules on The Establishment of Foreign-shared Fund Management CompaniesDecree of the China Securities Regulatory Commission No.9

The Rules on the Establishment of Foreign-shared Fund Management Companies are hereby promulgated, and shall come into force on July 1, 2002.

Chairman: Zhou Xiaochuan
June 1, 2002

Rules on the Establishment of Foreign-shared Fund Management Companies

Article 1 To meet the demand of opening the securities market, to strengthen and improve the supervision and administration of foreign-shared fund management companies and to clarify the preconditions and procedures for the establishment of foreign-shared fund management companies, the Rules is therefore formulated in accordance with relevant provisions of the Company Law and the Interim Measures for the Administration of Securities Investment Fund （hereinafter referred to as the Interim Measures）.

Article 2 The foreign-shared fund management companies as referred to in the Rules shall include domestic fund management companies whose shares are transferred to or purchased by foreign shareholders or those that are co-funded by foreign and domestic shareholders.

Article 3 The China Securities Regulatory Commission （hereinafter referred to as the CSRC） shall be responsible for the examination, approval, supervision and administration of foreign-shared fund management companies.

Article 4 The organizational structure of a foreign-shared fund management company shall be that of limited liability.

The name, registered capital, founding and functions of the departments of a foreign-shared fund management company shall be compliant with relevant provisions of the Company Law, the Interim Measures and the CSRC.

Article 5 Foreign-shared fund management companies shall meet the requirements as provided for in the Interim Measures and those of the CSRC.

Article 6 The foreign shareholders of a foreign-shared fund management company shall possess the following qualifications:

1） Financial institutions established in accordance with the laws of their home countries and continuing to exist legitimately without severe punishment by securities regulatory bodies or judicial organs within the past 3 years;

2） Their home countries shall have a sound legal and regulatory system on securities, and the securities regulatory bodies shall have signed the memorandum of understanding on securities regulation with CSRC and have maintained effective cooperation with the latter;

3） The actual realized capital shall be free convertible currency equivalent of no less than RMB 300,000,000 yuan;

4） Other prudential conditions as provided for by the CSRC.

Article 7 The domestic shareholders of a foreign-shared fund management company shall have the qualifications as shareholders of fund management companies as provided for by the CSRC.

Article 8 The shares held by foreign shareholders or the equity possessed by them （both directly and indirectly） in a foreign-shared fund management company may not exceed one third of the total in the aggregate, and the percentage may not exceed 49% within 3 years after China's accession to the WTO.

Foreign shareholders shall invest with free convertible currencies.

Article 9 The board chairman, general manager, and deputy general manager of a foreign-shared fund management company shall possess the qualifications as senior management of securities companies as provided for by the CSRC.

Article 10 The domestic and foreign applicants of a foreign-shared fund management company shall submit the application materials to the CSRC in compliance with the contents and format prescribed by the CSRC. The application materials submitted by the domestic and foreign applicants to the CSRC must be in Chinese.

Documents and materials in foreign languages provided by the foreign shareholders and the securities bodies of their home countries shall be accompanied by their Chinese versions consistent with the original contents.

Article 11 The establishment of a foreign-shared fund management company by foreign shareholders and domestic shareholders shall follow two phases, namely the preparation and the commencement of business.

Article 12 The CSRC shall decide on whether to approve the application for establishment preparation or otherwise within 60 working days upon formal acceptance of the application. If the approval is granted, the reply document should be issued.If the approval is not granted, the applicant should be notified in writing of the reasons.

Article 13 As for foreign-shared fund management companies that have already obtained the approval documents for preparation from the CSRC but are yet to open to business, if there are substantial changes in the basic conditions of their foreign shareholders, or their foreign shareholders have been punished or tightly controlled and supervised by the regulatory bodies of relevant countries and regions for violation of related rules and regulations, then these foreign shareholders shall motion for a founders' meeting within the company without delay and shall clarify the situation.

If the foreign shareholders no longer meet the requirements of the Rules, the founders' meeting shall reach a treatment decision and the preparatory group of the company shall report to the CSRC and complete relevant formalities as required.

Article 14 The domestic and foreign applicants shall, after the preparation for establishment of the fund management company has been accomplished, submit the application materials for business operation to the CSRC.

The CSRC shall decide on whether to approve, postpone the approval or disapprove the business operation within 30 working days upon formal acceptance of the application. If the approval is granted, the approval documents shall be issued; if the approval is a deferred one or not granted, the applicant shall be notified in writing of the reasons.

Article 15 When the shares of a foreign-shared fund management company are transferred to or purchased by foreign shareholders, the fund management company shall submit the application materials to the CSRC.

The CSRC shall decide on whether to grant the approval within 60 working days upon formal acceptance of the application. If the approval is granted, the reply documents shall be issued; if the approval is not granted, the applicant shall be notified in writing of the reasons.

With regard to the review of applications involving new shareholders and the change of the largest shareholders who have the highest proportion of capital contribution and nominate the most directors, the CSRC shall follow the procedures for reviewing preparation applications of fund management companies.

Article 16 As for some foreign shareholders of a foreign-shared fund management company, the authorities in where the company is registered or its main business activities take place may require for records of overseas foreign investment. If these foreign shareholders, after legitimately obtaining the approval documents from the CSRC, should need to submit the relevant materials to the above-mentioned authorities for record-keeping purpose, they shall also submit copies of those materials to the CSRC.

Article 17 The shareholders of a foreign-shared fund management company shall, within 30 working days after obtaining the approval documents from the CSRC, apply to competent administrations for industry and commerce for alteration or establishment.

Article 18 The Rules is applicable to investors from Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan Area holding shares of domestically-funded fund management companies.

Article 19 As for the establishment, alteration, termination, business activities, supervision and administration of foreign-shared fund management companies, other relevant provisions of the CSRC shall be applicable if there are no corresponding provisions in the Rules.

Article 20 The Rules shall enter into force as of July 1, 2002.