06-15经济法英语突破班讲义

1、LectureFour:RulesAboutaListedCompanyand第四讲 anceof）bonds2.A public ance ofInanyofthefollowing,nomorepublicanceofcorporatemaybe carried out（1）Wherethecorporatebondsashepreviouspublicancebeenfully subscribed（2）Whereacompanyhasanydefaultoncorporatebondsaspubliclyedonanyotherliabilitiestponesthepaymentof

2、therelevantprincipalerests,andsuchsituationisstillcontinuing;对已公开（3）alteringtheuseLectureFour:RulesAboutaListedCompanyand第四讲 anceof）bonds2.A public ance ofInanyofthefollowing,nomorepublicanceofcorporatemaybe carried out（1）Wherethecorporatebondsashepreviouspublicancebeenfully subscribed（2）Whereacompa

3、nyhasanydefaultoncorporatebondsaspubliclyedonanyotherliabilitiestponesthepaymentoftherelevantprincipalerests,andsuchsituationisstillcontinuing;对已公开（3）alteringtheuseoffundsasraisedthroughpublicanceof的用途。(Art. （1）erapplyingfor examination and（2）WhereanerfilesanapplicationforanIPOofstocks,itshall,submi

4、ttingthes,disclosetherelevantsin（3）share anceexaminationcommitteeexaminingtheapplicationsforiobtainingexaminationandapprovalofapplicationsforstockancefromSecuritiesRegulatoryCommis CSRC shall make an deciacceptance ofan onapprovalordisapprovalwithin3monthsasforsecurities 申（4）whereanapplicationforsec

5、uritiesershall,announcetherelevantancehasbeenapproved,theisofpublicancepublicly inganysecuritiesandshallsavailablefor（5）ing Whereaneresanysecuritiestoanynon-specifiedobjectandifsaidsecuritiesshallbeunderwrittenbyasecuritiescompany,asisprovidedbylawsandadministrativeregulations,theershallconcludeanag

6、reement The securities，法律、行政of y proxy and exclusive sale shall be adopted for underwritingoperationofIncaseofsa of the relevant iall theyproxy,asecuritiescompanysellssecuritiesasaerand,uponunsoldto therelevantoftheunderwritingperiod,securities company purchases all of In case of exclusive sale , se

7、curitiesofaneraccordingtotheagreementorpurchasesalloftheunsold securities by itself upon of the underwriting AstoapublicofferofstocksthroughIncaseofsa of the relevant iall theyproxy,asecuritiescompanysellssecuritiesasaerand,uponunsoldto therelevantoftheunderwritingperiod,securities company purchases

8、 all of In case of exclusive sale , securitiesofaneraccordingtotheagreementorpurchasesalloftheunsold securities by itself upon of the underwriting Astoapublicofferofstocksthroughyproxy,whenthetermofyproxyexpiresandiftyofstocksfailstoreach70%oftheinapublicoffer,itshallbedeemedasafailure.Therelevanter

9、shallreturn it rate for the ing price erests as calculated atthe contemporaryperiodoftimeto subscribers ofrevokesthe onapprovaland4.liabilitymptionwhenthe therelevantutoryrequirementsandproceduresandiftherelevanthaventbeened,CSRCshall,revoketheiance.Astoanyvebeenedventbeenlisted,relevantonapprovalih

10、allberevoked.Therelevanterests as calculated at the shall,according tothe ing price itrateforthecorrespondingperiodoftime,returnthefundstoholders. mendation party shall bear the and several er,exceptoult.Whereanycontrollingshareholderoractualcontrollerhasanyfault,shallbeartheseveralliabilitiestogeth

11、erwiththerelevant证照.Listingof1.Requirementsforthelistingofstocks/inwhichtheofstocksshallbesuspended/terminated（1）requirementsfor thelistingof Astock-limitedtfilesanapplicationforthelistingofitsshallsatisfythefollowingThestocksshallhavebeensubjecttotheexaminationandapprovalofThetotalamountofcapitalst

12、ockshallbenonRMB30;Thesharesaspubliclyedshalln25%ofthetotal0.4,thesharesaspubliclyedshallbenon10%的ThecompanyThetotalamountofcapitalstockshallbenonRMB30;Thesharesaspubliclyedshalln25%ofthetotal0.4,thesharesaspubliclyedshallbenon10%的Thecompanymayveanymajorirregularityoverthelatestthreeandthereisnofals

13、erecordinitslements.（2）inwhichthelistingofstocksshallbesuspendedWhere a listed company is in any of the following , the exchange shall decide to suspendthe listing of its stocksWherethetotalamountofcapitalstockorsharedistributionofthechangesandthus,failstomeettherequirementsoflisting;公司股本总额、股权分Where

14、thecompanyfailstopublicizeitsllusaccordingtorelevantsorhasanyfalserecordinitsements,WherethecompanyhasanymajorirregularityWherethecompanyhasbeenoperatingatalossforthelatest3consecutive year 公司最近三年连续亏损。(Art.55)（3）inwhich thelisting of stocks shallbe suspended Where a listed company is in any of the f

15、ollowing , the exchange shall decideto terminate the listing of its stocksWherethetotalamountofcapitalstockorsharedistributionofthechangesandthus,failstomeettherequirementsoflisting,andwherethefailsomeettherequirementsoflistingheperiodasprescribedthe stock exchange;Wherethecompanyfailstopublicizeits

16、lusaccordingtoements,andrelevantsorhasanyfalserecordinitslto make any correctionWherethecompanyhasbeenoperatingatalossforthelatest3years and failstoWhere the ；he year thereafteris dissolvedor is announce 2.Requirementsforthelistingofbonds/inwhichthelistingbonds/shallbesuspended/terminated（1）requirem

17、entsforthelistingofbondsAcompanyshall,whenapplyingforthelistingofcompanybonds,fulfillthe following requirements:公司申请公司债券上市交易，应当符合下列条件：（1）Thetermofcompanybondsshallbe2.Requirementsforthelistingofbonds/inwhichthelistingbonds/shallbesuspended/terminated（1）requirementsforthelistingofbondsAcompanyshall,w

18、henapplyingforthelistingofcompanybonds,fulfillthe following requirements:公司申请公司债券上市交易，应当符合下列条件：（1）Thetermofcompanybondsshallben1year;n50（3）Thecompanyshallmeettheutoryrequirementsfortheanceofbonds when applying for the listing of its bonds（2）inwhichthelistingofstocksshallbesuspendedfollowing,thestock

19、exchangemaydecidetosuspendthelistingWherethecompanyhasanymajorirregularityWhere the company has any major change and thus requirements for the listing of company bonds;公司情况发生fails to meet （3）WherethefundsasraisedthroughtheanceofcompanybondsfailtousedaccordingtotheeasWherethecompanyfailstoperformitso

20、bligationsaccordingtothemeasures forfinancingthroughthei anceofcompanybonds;Wherethecompanyhasbeenoperatingatalossforthelatest2（3）inwhichthelistingofbondsshallbeterminatedWhereacompanyisinanyoftheasdescribedinitem(1)oroftheprecedingArticlehereinandtheconsequen been verified to be serious,orwhereacom

21、panyisunderanyoftheasincurredtherefromasdescribedinanyof(2),(3),or(5)oftheprecedingArticlehereinandfailstoeliminatetheconsequence within a specified time limit, the stock exchange shall decide to terminate the listing of company bonds of the company.第（五） 所列情形之一，在限期内未能消除的，Incaseacompanyisdissolvedord

22、eclaredrupt,thestockexchangeAtthe timeof publicoffer ,theprospectus orthe measuresfor throughtheanceofcompanybondsshallbeannounced.InanIPOofstockscompanybonds,therelevantlementsshallbeannouncedaswell开midtermreport中：Acompanywhosesharesorbondshavebeenlistedtradingshall,womonthsasofhalfofeachyear, Atth

23、e timeof publicoffer ,theprospectus orthe measuresfor throughtheanceofcompanybondsshallbeannounced.InanIPOofstockscompanybonds,therelevantlementsshallbeannouncedaswell开midtermreport中：Acompanywhosesharesorbondshavebeenlistedtradingshall,womonthsasofhalfofeachyear, submit toCSRC and the stock exchange

24、a midterm report and announce itannual report 年fortradingshall,：Alistedcompanywhosesharesorbondshavebeenfourmonthsasofeachaccountingyear,totheCSRCandthestockexchangeanannualreportandannounceit. Theinformationasdisclosedbyersandlistedcompaniesaccordingtoshall be authentic, accurate egrate and may ve

25、any false misleadingementormajoranceofcompanyl ement,listingreport, annualreport, midtermreport, oranyinformationassbeenannouncedbyaneror companyhasanyfalserecord,misleadingementormajor,thusincurslossestohesofsecuritiestrading,i、orthelistedcompanyshallbesubjecttotheliabilitiesofAnydirector,superviso

26、r,seniormanageroranyersonoftheerthelistedcompanydirectlyresponsiblesecurities company shall be subject to the mendationpartytheand several liabilities compensation,exceptforhoisabletoprovehisexemptionofanyWhereanyshareholderoractualcontrollerofaneroralistedcompanyhasfault,he shall besubject to the a

27、ndseveral liabilities oferorlistedthusincurslossestoinvestors,shalla shall be liable for, except for anyfaultmeliabilitytotheextentofwhichtheir hoisabletoprovehisexemptionof.ProhibitedTrading1.insider （1）generalruleAnyinsiderwhohasstoanyinsiderinformationofsecuritiestradingwho has unlawfully obtaine

28、d any insider information is prohibited from advantageofthethusincurslossestoinvestors,shalla shall be liable for, except for anyfaultmeliabilitytotheextentofwhichtheir hoisabletoprovehisexemptionof.ProhibitedTrading1.insider （1）generalruleAnyinsiderwhohasstoanyinsiderinformationofsecuritiestradingw

29、ho has unlawfully obtained any insider information is prohibited from advantageoftheinsiderinformationasheldtherebytoengageinany交信息的（2）whoaretheinsiders哪些人是the insiders who have s to insider information of securities Directors,andseniormanagersofan ；Shareholders who hold no lessn5%ofthesharesinacomp

30、anyaswellas thedirectors,supervisors,andseniormanagersthereof,ortheactualofacompanyaswellasthedirectors,supervisors,andseniormanagers；Theholdingcompanyofaneraswellasthedirectors,supervisors,senior managers ；nelwhomaytakeadvantageofheircompanytoanyinsiderinformationofthecompanyconcerningtheanceandion

31、itssecurities;可以利用所任公司职务获取公司有信息Thefunctionaryofthesecuritiesregulatorybody,andersonneladministertheanceandionofsecuritiespursuanttotheirfunctionsand的;Thenelmendationinstitutions,securitiesengagingin underwriting,stock exchanges,securities registrationand 。（3）whichinformationisinsiderinformationThe term insider information refers to the t concerns businessorfinanceofacompanyormayhaveamajoreffectonthemarketpricethe securities the