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中华人民共和国公司法 法律对照

Company Law of the People’s Republic of China

Company Law of the People’s Republic of China

 

Company Law of the People's Republic of China

(The Company Law of the People’s Republic of China has been amended and adopted by the 18th meeting of the Standing Committee of the Tenth National People's Congress on October 27, 2005. This Law, as amended, is hereby promulgated and will come into force on January 1, 2006.)

Chapter One: General Provisions. 1

Chapter Two: Incorporation and Organizational Structure of a Limited Liability Company. 6

Section One Incorporation. 6

Section Two Organizational Structure. 9

Section Three Special Provisions on One-Person Limited Liability Companies. 14

Section Four Special Provisions on Wholly State-owned Companies. 15

Chapter Three: Share Transfer of a Limited Liability Company. 16

Chapter Four: Establishment and Organizational Structure of a Joint Stock Limited Company. 18

Section One Establishment18

Section Two General Meeting of Shareholders. 23

Section Three Board of Directors and General Manager25

Section Four Board of Supervisors. 27

Chapter Five Issue and Transfer of Shares of Joint Stock Limited Companies. 28

Section One Issue of Shares. 28

Section Two Assignment Of Shares. 31

Chapter Six: Qualifications and Obligations of Directors, Supervisors and Senior Officers. 32

Chapter Seven: Company Bonds. 35

Chapter Eight : Financial and Accounting Affairs of Company. 36

Chapter Nine:Merger and Division of Company, Increase and Decrease of Registered Capital38

Chapter Ten: Dissolution and Liquidation of Company. 40

Chapter Eleven : Branch of Foreign Company. 42

Chapter Twelve: Legal Liabilities. 43

Chapter Thirteen : Supplementary Provisions. 47

Chapter One: General Provisions

Article 1

This Law is enacted in order to standardize the organization and activities of companies, to protect the legitimate rights and interests of companies, shareholders and creditors, to maintain the socio-economic order and to promote the development of the socialist market economy.

Article 2

The term 'company' referred to in this Law means a limited liability company or a joint stock limited company incorporated within the territory of the People's Republic of China in accordance with this Law.

Article 3

A company is an enterprise legal person that shall enjoy the right to the entire independent property of the legal person. A company shall be liable for its debts to the extent of all its assets. In the case of a limited liability company, shareholders shall assume liability towards the company to the extent of their respective capital contributions. In the case of a joint stock limited company, shareholders shall assume liability towards the company to the extent of their respective shareholdings.

Article 4

The shareholders of a company shall enjoy such rights as benefiting from assets of the company, making major decisions and selecting managerial personnel in accordance with the law.

Article 5

In conducting its business, a company must abide by laws and administrative rules and regulations, observe social morals and business ethics, conduct businesses in good faith, subject itself to the supervision of the government and the public and fulfill social responsibilities.

The company's lawful rights and interests are protected by law and shall not be infringed upon.

Article 6

A company shall apply to the company registration authority for establishment registration. Companies meeting the conditions set by this Law shall be registered as limited liability companies or joint stock limited companies; while companies failing to meet the conditions set by this Law shall not be registered as limited liability companies or joint stock limited companies.

Where laws, administrative rules and regulations provide that incorporation of companies must be subject to examination and approval, the procedures of examination and approval shall be completed according to law prior to the registration of such companies.

The public may inquire about registration items from the company registration authority. The company registration authority shall provide such inquiry service.

Article 7

The company registration authority shall grant registration and issue a business license to a company that is established in accordance with the law. The date of the issuance of the company business license shall be the date of the incorporation of the company.

The business license shall specify the name and domicile of the company, registered capital, paid-in capital, business scope, the name of the legal representative, etc. In the event of any change to the registration item of the business license, a company shall undergo alteration registration procedures with the company registration authority in accordance with the law, after which a new business license shall be issued to the company.

Article 8

A limited liability company established according with this Law must clearly indicate the words 'limited liability company' in its name.

A joint stock limited company established according to this Law must clearly indicate the words 'joint stock limited company' or ‘joint stock company’ in its name.

Article 9

If a limited liability company is to be converted into a joint stock limited company, it shall satisfy the requirements for a joint stock limited company stipulated by this Law. If a joint stock limited company is to be converted into a limited liability company, it shall satisfy the requirements for a limited liability company stipulated by this Law. Where a limited liability company is converted into a joint stock limited company or vice versa, the claims and debts of the original company shall be succeeded to by the company into which it is converted.

Article 10

A company's domicile shall be the place where its main administrative organization is located.

Article 11

Articles of association must be formulated in accordance with the law when a company is incorporated. A company's articles of association shall have binding force on the company, its shareholders, directors, supervisors and senior officers.

Article 12

A company's scope of business shall be defined in its articles of association and registered in accordance with the law. A company may change its scope of business by amending its articles of association but shall register such amendments with the company registration authority.

Items within the company's business scope that are subject to verifications under laws, administrative rules and regulations shall be approved in accordance with the law.

Article 13

The legal representative of a company may be represented by the chairman, executive director or manager of a company in compliance with its articles of association and registered in accordance with the law. In the event of any change of the legal representative of a company, such change shall be registered in accordance with the law.

Article 14

A company may establish branches. The company, in establishing its branch(es), shall conduct establishment registration procedures with the company registration authority and obtain the business license(s). The branches shall not possess the status of enterprise legal persons and whose civil liabilities shall be borne by the company.

A company may establish subsidiaries, which shall possess the status of enterprise legal persons, and shall independently bear civil liabilities in accordance with the law.

Article 15

A company may invest in other enterprises, however, unless otherwise stipulated by the law, the company making such investment shall not bear joint and several liability for the debts of the enterprise in which the company invests.

Article 16

Investments in other enterprises or provisions of security by a company shall be determined by its board of directors, shareholders meeting or general meeting of shareholders in compliance with its articles of association. Where the limit of the aggregate amount of investment or security extended by a company or, the amount of investment or security extended in each case is set out in the articles of association, the actual amount of investment or security shall not exceed such limit. Security provided by a company to its shareholders or actual controller shall be determined by the shareholders meeting or the general meeting of shareholders of the company.

The shareholders described in the preceding paragraph or the shareholders dominated by the actual controller described in the preceding paragraph shall not participate in the voting process on the matters described in the preceding paragraph. The vote on such matters shall be adopted by more than half of all the other shareholders attending the meeting.

Article 17

Companies must protect the lawful rights and interests of their staff and workers, sign labor contracts with them and cover them with social insurances in accordance with the law, and strengthen labor protection so as to achieve safety in production.

Companies shall apply various forms to strengthen professional education and on-the-job training of their staff and workers so as to improve their skills and capabilities.

Article 18

Company's staff and workers shall, in accordance with the Trade Union Law of the People’s Republic of China, organize a trade union to carry out the trade union activities and protect the lawful rights and interests of the staff and workers. The company shall provide its trade union with conditions necessary for carrying out its activities. The trade union may represent the staff and workers to enter into a collective contract with the company in respect of the remuneration, work hours, welfare, insurance, labor security, etc. in accordance with the law.

Companies shall, through the congress of the workers and staff members or other forms, practice democratic management in accordance with the provisions of the Constitution and relevant laws.

A company shall seek advices from its trade union when discussing and deciding upon important issues on the restructuring or operation of the company, or formulating important rules and regulations and shall, through the congress of the workers and staff members or other forms, seek advice and suggestions from its staff and workers.

Article 19

The organizations of the Communist Party of China may be established in companies and carry out their activities in accordance with the Constitution of the Communist Party of China. Companies shall provide the organizations of the Communist Party of China with conditions necessary for carrying out their activities.

Article 20

The shareholders of a company shall exercise their shareholders’ rights in compliance with laws, administrative rules and regulations as well as the articles of association of the company, shall not abuse their shareholders’ rights to injure the interests of the company or other shareholders, or take advantage of the company’s independent status or the limited liability of shareholders to injure the interests of the company’s creditors.

Where the abuse of shareholders’ rights causes any loss to the company or other shareholders, such abusive shareholder shall be liable for compensation in accordance with the law.

Where shareholders of a company take advantage of the company’s independent status or the limited liability of shareholders to disregard debts and seriously injures the interests of the company’s creditors, such shareholders shall bear joint and several liability for the debts of the company.

Article 21

The controlling shareholders, actual controllers, directors, supervisors or senior officers of a company shall not take advantage of their affiliations with others in an attempt to harm the company’s interests and, where any losses are incurred in violation hereof, shall be liable for compensation.

Article 22

Any resolution against laws and administrative rules and regulations that is adopted by the shareholders meeting, the general meeting of shareholders or the board of directors of a company shall be null and void.

Where the convening of shareholders meeting, general meeting of shareholders or board of directors of a company or the voting method violates laws, administrative rules and regulations or the articles of association of the company, or the resolution thereof contravenes the articles of association of the company, shareholders may, within sixty (60) days of the resolution, apply to the people’s court for revocation.

Where shareholders file suit in accordance with the provisions of the preceding paragraph, a people’s court may, at the company’s request, order the shareholders to provide relevant security.

Where the company has effected alteration registration according to the resolution of shareholders meeting, general meeting of shareholders or board of directors, the company shall, after the people’s court declares such resolution null and void or revokes the same, shall apply to the company registration authority for cancellation of its alteration registration.

Chapter Two: Incorporation and Organizational Structure of a Limited Liability Company

Section One Incorporation

Article 23

The following conditions shall be fulfilled for the incorporation of a limited liability company:

(1) The number of shareholders conforms to the statutory quorum;

(2) The capital contributions of the shareholders reach the statutory minimum amount of capital;

(3) The shareholders have jointly formulated the articles of association of the company;

(4) The company has a name and an organizational structure established in compliance with the requirements for a limited liability company; and

(5) The company has a domicile.

Article 24

A limited liability company shall be incorporated by not more than fifty (50) shareholders.

Article 25

The articles of association of a limited liability company shall specify the following particulars:

(1) the name and domicile of the company;

(2) the scope of business of the company;

(3) the registered capital of the company;

(4) the names or titles of the shareholders;

(5) the method, amount and time of capital contributions by the shareholders;

(6) the organization of the company, its method of creation, functions and powers and the

rules of procedure;

(7) the legal representative of the company;

(8) other items which the shareholders deem necessary to be specified. Shareholders shall sign and execute the article of association of the company.

Article 26

The registered capital of a limited liability company shall be the amount of the paid-up capital contributions of all its shareholders as registered with the company registration authority. The amount of the initial investment contributed by all shareholders shall not be lower than twenty percent (20%) of the registered capital or the minimum amount prescribed by the law, the remaining of which shall be fully paid up within two years of the establishment of the company. In the case of an investment company, the remaining amount of the registered capital may be paid up within five years of the establishment of the company. The minimum amount of the registered capital of a limited liability company shall be RMB 30, 000. Where laws and administrative regulations provide for more than the minimum amount, such provisions shall apply.

Article 27

Except for assets forbidden to be used as contribution by laws and administrative regulations, a shareholder may make its capital contributions to a company in currency or by contributing such non-currency property as material objects, intellectual property rights and land-use rights that can be evaluated in the form of currency and transferred in accordance with the law.

The non-currency property to be contributed as capital shall undergo an asset valuation and verification, and shall not be overvalued or undervalued. Where there are other provisions of laws and administrative regulations on the valuation and verification of non-currency property, such provisions shall apply.

The amount of the capital contributions in currency shall not be lower than thirty percent (30%) of the amount of the registered capital of the limited liability company.

Article 28

Each shareholder shall make in full the amount of the capital contribution subscribed for under the articles of association of the company. Where a shareholder makes its capital contribution in currency, it shall deposit the full amount of such capital contribution in currency in the bank account opened by the limited liability company to be established. Where a shareholder makes its capital contribution in the form of non-currency property, the property rights therein shall be transferred in accordance with legally prescribed procedures.

Shareholders failing to make full capital contributions they have subscribed for in accordance with the preceding paragraph shall, they shall, in addition to making the contributions in full, be liable for breach of contract towards the shareholders who have made full capital contributions.

Article 29

After all shareholders have made their capital contributions in full, such contributions must be verified by a statutory capital verification institution which shall issue capital verification certificates.

Article 30

After the initial capital contributions of the shareholders have been verified by a statutory capital verification institution, application shall be made to the company registration authority for registration of the incorporation of the company by a representative designated by all the shareholders or by an agent jointly entrusted by them, who shall submit such documents as an application for registration, the articles of association and the capital verification certificate.

Article 31

Where, after the incorporation of a limited liability company, it is discovered that the actual value of the non-currency property contributed as capital is notably less than the value stated in the articles of association, the shareholders that made such contributions shall make up the difference. Those who are shareholders at the time of the incorporation of the company shall bear joint and several liability therefor.

Article 32

After a limited liability company has been incorporated, it shall issue capital contribution certificates to its shareholders.

A capital contribution certificates shall specify the following items:

(1) the name of the company;

(2) the registration date of the company;

(3) the registered capital of the company;

(4) the name or title of the shareholder, the amount and date of its capital contribution;

(5) the serial number of the capital contribution certificate and the date of its verification and issuance. A capital contribution certificate shall bear the seal of the company on it.

Article 33

A limited liability company shall prepare a roster of its shareholders with the following items therein:

(1) the names or titles and domiciles of the shareholders;

(2) the amounts of capital contributions of the shareholders; and

(3) the serial numbers of the capital contribution certificates.

The shareholders recorded in the roster of shareholders may claim and exercise the right of shareholders on the strength of the roster of shareholders.

The company shall register the names of shareholders and the amount of capital contributions of the shareholders with the company registration authority and, in the event of any change thereof, apply for alteration registration. Unless duly registered, the above-mentioned items and any changes thereof shall not be a defense against a third party.

Article 34

A shareholder shall have the right to view the articles of association, the minutes of shareholders meetings, resolutions of board of directors and board of supervisors and the financial and accounting reports of the company.

Shareholders may view the accounting books and reports of the company. For this purpose, they shall submit a written request and state reasons. Where the company reasonably believes that shareholders have unjust purposes in viewing the accounting books and reports which may harm the legal rights and interests of the company, the company may refuse such request and shall, within fifteen (15) days of such request, reply in written form and state reasons. Given such, shareholders may apply to the people’s court for an order under which the company shall provide the shareholders with such references.

Article 35

Unless otherwise agreed upon by all shareholders, shareholders shall draw dividends in proportion to their actual capital contributions and, where a company increases capital, shall have priority in subscription for new shares in proportion to their actual contributions.

Article 36

Once a company is registered, its shareholders shall not withdraw their capital contributions.

Section Two Organizational Structure

Article 37

The shareholders meeting of a limited liability company shall be composed of all the shareholders. The shareholders meeting shall be the organ of power of the company and shall exercise its functions and powers in accordance with this Law.

Article 38

The shareholders meeting shall exercise the following functions and powers:

(1) to decide on the business policy and investment plan of the company;

(2) to elect and recall directors and supervisors whose posts are not taken by the representatives of the staff and workers, and to decide on matters concerning the remuneration of directors and supervisors;

(3) to examine and approve reports of the board of directors;

(4) to examine and approve reports of the supervisory board or supervisors;

(5) to examine and approve the annual financial budget plan and final accounts plan of the company;

(6) to examine and approve plans for profit distribution of the company and plans for making up losses;

(7) to adopt resolutions on the increase or reduction of the registered capital of the company;

(8) to adopt resolutions on the issuance of company bonds;

(9) to adopt resolutions on matters such as the merger, division, transformation, dissolution and liquidation of the company;

(10) to amend the articles of association of the company;

(11) to exercise other functions and powers provided for in the articles of association.

Where a unanimous consent on the matters described above is achieved in writing by shareholders, the company may directly make decisions that shall be signed and executed by all shareholders instead of convening a shareholders meeting.

Article 39

The first meeting of the shareholders of a company shall be convened and presided over by the shareholder who has made the biggest capital contribution to the company and shall exercise its functions and powers in accordance with this Law.

Article 40

Shareholders meetings shall be divided into regular meetings and interim meetings. Regular shareholders meetings shall be convened on time as stipulated by the articles of association of the company. Interim shareholders meetings may be convened upon proposal made by shareholders representing more than one-tenth of voting rights or by more than one-third of directors, or at the request of board of supervisors or the supervisors of a company absent a board of supervisors.

Article 41

Where a limited liability company has a board of directors, its shareholders meeting shall be convened by the board of directors and presided over by the chairman of the board. Where the chairman of the board is unable to or does not perform his function, the meeting shall be presided over by a vice-chairman. Where the vice-chairman is unable to or does not perform his function, the meeting shall be presided over by a director jointly nominated by more than half of the directors.

Where a limited liability company does not form a board of directors, the shareholders meetings shall be convened and presided over by the executive director.

Where the board of directors or executive director cannot or does not perform its function, the shareholders meeting shall be convened and presided over by the board of supervisors or the supervisor in the absence of a board of supervisors. Where the board of supervisors or supervisor cannot or does not perform its function, the meeting shall be convened and presided over by shareholders representing more than one-tenth of the voting rights.

Article 42

All shareholders shall be notified fifteen (15) days prior to the convening of a shareholders meeting, unless otherwise stipulated by the articles of association or agreed upon by all shareholders.

The shareholders meeting shall prepare minutes regarding the decisions on matters considered at the meeting, which shall be signed by the shareholders present at the meeting.

Article 43

Shareholders shall exercise their voting rights at the shareholders meeting in proportion to their capital contributions, unless otherwise stipulated by the articles of association.

Article 44

Except as provided for in this Law, the rules of deliberation and voting procedures of the shareholders meeting shall be stipulated by the articles of association of the company.

Resolutions of the shareholders meeting on the increase or reduction of the registered capital, the division, merger, dissolution, or transformation of the company must be adopted by shareholders of the company representing two-thirds or more of the voting rights.

Article 45

Except as otherwise provided for in Article 51 of this Law, a limited liability company shall have a board of directors, which shall be composed of three to thirteen members. The members of the board of directors of a limited liability company invested in and established by two or more State-owned enterprises, or by two or more other State-owned investment entities shall include representatives of the staff and workers of the company. The members of the board of directors of other limited liability companies may also include representatives of the staff and workers. Such representatives of the staff and workers shall be democratically elected by the workers and staff members of the company through the congresses or assemblies of the staff and workers or other forms. A board of directors shall have a chairman and may have a vice-chairman. The method for the creation of the chairman and vice-chairmen shall be stipulated in the articles of association of the company.

Article 46

The term of the directors shall be prescribed by the articles of association, provided that each term may not exceed three (3) years. A director may continue to serve his post if he is re-elected upon the expiration of his term. Where a new elect is not yet available upon expiration of a director’s term, or the number of the directors on the board is less than the quorum due to the resignation of a director within his term, such director, before the new elect takes his office, shall continue the performance of his duties in accordance with laws, administrative regulations and the articles or association.

Article 47

The board of directors is accountable to the shareholders meeting and shall exercise the following powers:

(1) being responsible for convening shareholders meetings and presenting reports thereto;

(2) implementing resolutions adopted by the shareholders meeting;

(3) determining the company's operational plans and investment programs;

(4) preparing annual financial budget plans and final accounting plans of the company;

(5) preparing profit distribution plans and plans to cover company losses;

(6) preparing plans for increasing or reducing registered capital of the company or issuing company bonds;

(7) drafting plans for merger, division, change of corporate form or dissolution of the company;

(8) determining the structure of the company's internal management;

(9) appointing or removing the general manager of the company, appointing or removing, upon the general manager's recommendation, deputy managers of the company and the officer in charge of finance, and determining the remuneration for those officers;

(10) formulating the basic management scheme of the company;

(11) exercising other powers stipulated by the articles of association.

Article 48

A meeting of the board of directors shall be convened and presided over by the chairman. Where the chairman is unable to or does not perform his duties, the meeting shall be convened and presided over by the vice-chairman. Where the vice-chairman is unable to or does not perform his duties, the meeting shall be convened and presided over by a director jointly nominated by more than half of the directors.

Article 49

Except as otherwise provided for in this Law, the rules of deliberation and voting procedures at the meeting of board of directors shall be stipulated by the articles of association of the company.

The board shall prepare minutes relating to the decisions on matters considered at the meeting, which shall be signed by the directors present at the meeting.

In the voting process, one director shall represent one vote.

Article 50

A limited liability company shall have a general manager, to be appointed or removed by the board of directors. The general manager is accountable to the board and shall exercise the following powers:

(1) management of the company's production and operation, and organizing the implementation of board resolutions;

(2) organizing the implementation of annual operating plans and investment programs of the company;

(3) preparing the plan for the structure of the company's internal management;

(4) preparing the basic management scheme of the company;

(5) formulating detailed company rules;

(6) recommending the appointment or removal of a deputy manager and the officer in charge of finance;

(7) appointing and removing officers of the company other than those to be appointed or removed by the board of directors;

(8) exercising other powers delegated by the board of directors.

Where the articles of association stipulate otherwise in respect of the manager’s powers, such stipulations shall prevail. The general manager shall be present at board meetings.

Article 51

A small-scaled limited liability company or a limited liability company with only a few shareholders may have an executive director without establishing a board of directors. The executive director may serve concurrently as the general manager of the company.

The powers of the executive director shall be prescribed in the articles of association.

Article 52

A limited liability company shall have a board of supervisors composed of no less than three (3) members. A small-scaled limited liability company or a limited liability company with only a few shareholders may have one or two supervisors without establishing a board of supervisors. The board of supervisors shall be composed of shareholders' representatives and representatives of the staff and workers of the company. The number of the staff and workers’ representatives shall not be lower than one third of all the supervisors, the specific percentage of which shall be determined in the articles of association. The representatives of the staff and workers on the board of supervisors shall be democratically elected by the staff and workers through the congresses or assemblies of the workers and staff members or other forms. The board of supervisors shall have one chairman elected by more than half of all the supervisors. The meetings of the board of supervisors shall be convened and presided over by the chairman of the board. In the event that the chairman is unable to or does not perform his duties, the meeting shall be convened and presided over by a supervisor jointly nominated by more than half of all the supervisors.

A director and a senior officer of the company shall not serve concurrently as a supervisor.

Article 53

Each term of a supervisor shall be three (3) years, and a supervisor may continue to serve his post upon expiration of his term if he is re-elected.

Where a new elect is not yet available upon expiration of a supervisor’s term, or the number of the supervisors on the board is less than the quorum due to the resignation of a supervisor within his term, such supervisor, before the new elect takes his office, shall continue the performance of his duties in accordance with laws, administrative regulations and the articles or association.

Article 54

The board of supervisors or the supervisor, as the case may be, shall exercise the following authorities:

(1) reviewing the financial affairs of the company;

(2) monitoring the acts of the directors or the senior officers in the course of performance of their duties, and propose recall of the director or senior officer in violation of laws, administrative regulations or the articles of association;

(3) requiring the directors or the senior officers to make rectification when any act thereof causes harm to company interests;

(4) proposing for interim meetings of shareholders meetings, convene and preside over the meeting when the board of directors does not perform its function to convene and preside over a shareholders meeting as set forth in this Law;

(5) submitting proposals at the shareholders meeting;

(6) filing suit against the directors or senior officers of the company in accordance with the provisions of Article 152 in this Law;

(7) exercising other authorities prescribed by the articles of association.

Article 55

The supervisors may attend board meetings, present inquiry or proposal with regards to the issues to be determined by the board of directors.

The board of supervisors or the supervisors of a company that does not have the board may conduct investigations upon discovery of any unusual operations of the company and, where necessary, engage an accounting firm to assist in such investigations at the expense of the company.

Article 56

The board of supervisors shall have a meeting at least once a year. An interim meeting may be convened at the request of supervisors.

Except as provided for in this Law, the rules of deliberation and voting procedures at the meeting of board of directors shall be stipulated by the articles of association of the company.

The resolution of the board of supervisors shall be adopted by more than half of all the supervisors. The board shall prepare minutes relating to the decisions on matters considered at the meeting, which shall be signed by the supervisors present at the meeting.

Article 57

Reasonable expenses necessary for the board of supervisors or supervisors of a company that does not have the board to perform their duties shall be borne by the company.

Section Three Special Provisions on One-Person Limited Liability Companies

Article 58

The provisions under this section shall govern the formation and the organizational structure of one-person limited liability companies. Where there are matters that are not covered by this section, the provisions of the first two sections under Chapter One shall apply.

A one-person limited liability company referred to herein means a limited liability company with a sole shareholder of either a natural person or a legal person.

Article 59

The minimum amount of the registered capital of a one-person limited liability company shall be RMB100, 000 which must be fully paid at the time of incorporation.

Natural persons are permitted to set up only one such company and that company is not allowed to invest in other one-person companies.

Article 60

In applying for registration of a one-person limited liability company, the proposed company shall indicate whether the investor is a natural person or a legal person, and specify it in its business license.

Article 61

The articles of association of a one-person limited liability company shall be formulated by its shareholder.

Article 62

A one-person limited liability company does not have shareholders meetings. The shareholder shall make the decision set forth in Article 38 (1) in written form, sign and maintain it at the company’s premises.

Article 63

A one-person limited liability company shall prepare its financial and accounting reports at the end of each fiscal year, which shall be reviewed by an accounting firm.

Article 64

Where the shareholder of a one-person limited liability company cannot prove that the company’s assets is independent from his own property, such shareholder shall bear joint and several liability for the debts of the company.

Section Four Special Provisions on Wholly State-owned Companies

Article 65

The provisions under this section shall govern the formation and the organizational structure of wholly state-owned companies. Where there are matters that are not covered by this section, the provisions of the first two sections under Chapter One shall apply.

A wholly state-owned company referred to herein means a limited liability company established through the State’s sole investment by the state-owned assets supervision and administration authority entrusted by the State Council or local people’s government to perform the capital contribution functions.

Article 66

The articles of association of a wholly state-owned company may be formulated by the state-owned assets supervision and administration authority or may be prepared by its board of directors and submitted to the state-owned assets supervision and administration authority for approval.

Article 67

A wholly state-owned company does not have shareholders meetings, and the state-owned assets supervision and administration authority shall exercise the authorities of the shareholders meeting. The state-owned assets supervision and administration authority may authorize the board of directors to exercise part of the authorities of the shareholders meeting to decide on major issues of the company, provided that matters such as merger, division or dissolution of the company, capital increase or reduction by the company, and issue of company bonds must be decided by the state-owned assets supervision and administration authority. The merger, division, dissolution or application for bankruptcy of key wholly state-owned companies shall, after examination and verification by the state-owned assets supervision and administration authority, be submitted to the people’s government at the same level for approval. The key wholly state-owned companies referred to herein shall be defined in accordance with the provisions of the State Council.

Article 68

A wholly state-owned company shall have a board of directors, which shall exercise its powers and perform its duties in accordance with the provisions of Article 47 and Article 67 hereof. The term of the directors shall not exceed three (3) years. There shall be representatives of the staff and workers on the board. The members of the board shall be designated by the state-owned assets supervision and administration authority. However, representatives of the staff and workers on the board shall be democratically elected through the congresses of the workers and staff members. The board of directors shall have a chairman and may have a vice-chairman. The chairman and vice-chairman shall be appointed by the state-owned assets supervision and administration authority from among the board members.

Article 69

A wholly state-owned company shall have a general manager, to be appointed or removed by the board of directors. The general manager shall exercise his powers and perform his duties in accordance with the provisions of Article 50 hereof. With the approval of the state-owned assets supervision and administration authority, a board member may serve concurrently as the general manager.

Article 70

Absent approval by the state-owned assets supervision and administration authority, the chairman, vice-chairman, a director, or a senior officer may not serve concurrently for any other limited liability company, joint stock limited company or any other business organization.

Article 71

The board of supervisors of a wholly state-owned company shall have no less than five (5) members, and the number of the staff and worker’s representatives on the board shall be no less than one third of the board members, the specific percentage of which shall be determined in the articles of association.

The supervisors shall be designated by the state-owned assets supervision and administration authority, however, the staff and worker’s representatives on the board shall be democratically elected through the congresses of workers and staff members. The chairman of the board of supervisors shall be appointed by the state-owned assets supervision and administration authority from among the board members. The board of supervisors shall exercise the powers prescribed in Article 54 (1), (2) and (3) hereof and other powers stipulated by the State Council.

Chapter Three: Share Transfer of a Limited Liability Company

Article 72

Shareholders of a limited liability company may transfer in whole or part their respective shares amongst themselves.

Where a shareholder transfers his shares to a person other than a shareholder, the consent of more than half of all shareholders shall be required. The shareholder who intends to transfer his shares shall notify the other shareholders in writing and seek their approval. Failure by those shareholders to make any response within thirty (30) days of the receipt of the written notice shall be deemed to be their consent to such transfer. Where more than half of the other shareholders do not consent to the transfer, such shareholders shall purchase the shares to be transferred. Failure by those shareholders to make such purchase shall be deemed to be their consent to such transfer. Where the shareholders consent to the share transfer, other shareholders shall have the preemptive right to purchase the shares to be transferred on equal terms and conditions. Two or more of the shareholders exercising the preemptive right of purchase shall negotiate and determine the proportion of the shares to be purchased respectively. Failing such, the shares shall be purchased in proportion to their capital contributions at the time of such transfer.

Where the articles of association stipulate otherwise, such stipulations shall apply.

Article 73

The people’s court, where the shares held by a shareholder is transferred through enforcement procedures prescribed by law, shall inform the company and all of its shareholders. Other shareholders shall have the preemptive right to purchase such shares on equal terms and conditions. Failure by those shareholders to exercise the right of first refusal within twenty (20) days of the date of court notice shall be deemed to be a waiver of the preemptive right of purchase.

Article 74

The company, after the share transfer is completed pursuant to Article 72 and Article 73 hereof, shall cancel the capital contribution certificate of the original shareholder, issue new certificate to the new shareholder and, amend the record of the shareholder and his capital contribution in the articles of association and the roster of shareholders. Such amendments to the articles of association need not be voted for by shareholders meetings.

Article 75

The shareholder voting against the decision of the shareholders meeting in respect of any one of the following circumstances may request the company to purchase his shares at reasonable prices:

(1) the company will not distribute dividends for five consecutive years though the company has made profit over these years and has met the distribution requirements prescribed in this Law;

(2) in the event of merger, division or assignment of the company’s major assets;

(3) in the event of expiry of the company or any other causes for dissolution prescribed in the articles of association, the shareholders meeting has adopted a resolution to amend the articles of association to renew the company.

Where the shareholder cannot reach a share purchase agreement with the company within sixty (60) days of the date of the resolution, the shareholder may file suit to the people’s court within ninety (90) days of the date of the resolution.

Article 76

Where a natural person shareholder deceases, his shareholder’s status may be inherited by his legal heir unless otherwise stipulated in the articles of association.

Chapter Four: Establishment and Organizational Structure of a Joint Stock Limited Company

Section One Establishment

Article 77

The establishment of a joint stock limited company is subject to the following conditions:

(1) The number of sponsors meets legal requirement;

(2) The amount of capital stocks subscribed for by the sponsors and publicly placed reaches the legally-prescribed minimum capital level;

(3) The issue of its shares and the preparation for its establishment comply with the law;

(4) The sponsors prepare the articles of association, and such articles of association of a company established by public share offer shall be adopted by the establishment meeting;

(5) There is a company name, and the organs complying with the requirements for a joint stock limited company are established;

(6) The company has a domicile.

Article 78

A joint stock limited company may be established either by sponsorship or public share offer.

Establishment by sponsorship means establishment of the company through subscription by the sponsors for all the shares to be issued by the company.

Establishment by public share offer means establishment of the company through subscription by sponsors for part of the shares to be issued by the company, and public or targeted placement of the remaining shares.

Article 79

In order to establish a joint stock limited company, there shall be not fewer than two but no more than two hundred sponsors, half of whom shall be domiciled in China.

Article 80

Sponsors of a joint stock limited company shall be responsible for the preparation of the establishment of the company and enter into a sponsor’s agreement to clarify the rights and obligations during the incorporation of the company.

Article 81

The registered capital of a joint stock limited company established by public share offer shall be the total amount of share capital subscribed for by all the sponsors and registered with the company registration authority. The initial capital contribution of all the sponsors shall not be less than twenty percent (20%) of the registered capital, the remaining of which shall be paid in full within two (2) years of the establishment of the company. In the event of an investment company, the remaining part of the registered capital may be fully paid within five (5) years of the establishment of the company. Prior to a full contribution to the registered capital, sponsors shall not offer the shares to others.

The registered capital of a joint stock limited company established by sponsorship shall be the actual total amount of share capital that is paid up and registered with the company registration authority. The minimum amount of the registered capital of a joint stock limited company shall be RMB 5,000,000. Where there is a higher level of the minimum amount stipulated by laws and administrative regulations, such stipulations shall apply.

Article 82

The articles of association of a joint stock limited company shall set forth the following:

(1) its name and domicile;

(2) its business scope;

(3) the method for its establishment;

(4) the total number of shares of the company, the value of each share, and the registered capital of the company;

(5) the names of the sponsors, the number of shares they have subscribed for, the form and time of capital contribution;

(6) the composition of the board of directors, its authorities, term, and rules of conducting business;

(7) its legal representative;

(8) the composition of the board of supervisors, its authorities, term, and rules of conducting business;

(9) the method for company profit distribution;

(10) the causes for its dissolution and the method for its liquidation;

(11) the method for giving notice and making public announcement;

(12) other matters which the general meeting of shareholders deems necessary to provide for.

Article 83

The provisions of Article 27 herein shall apply to the form of sponsor’s capital contribution.

Article 84

In the event of establishing a joint stock limited company by sponsorship, the sponsors shall fully subscribe in writing for the shares to be issued as prescribed in the articles of association. In the event of a lump sum payment, the investment shall be fully paid up in due time. In the event of payment in installments, the initial contribution shall be paid up in due time. In the event of contributions in form of non-currency property, the property rights therein shall be transferred in accordance with legally prescribed procedures.

Sponsors failing to make the capital contribution pursuant to the preceding paragraph shall bear the breach liability in accordance with the sponsor’s agreement.

Upon the initial contribution of the share capital which the sponsors have subscribed for, they shall elect members to the board of directors and the board of supervisors, and the board of directors shall apply for establishment registration by submitting the articles of association, the capital verification certificate issued by a legally established capital inspection organization and other documents required by laws and administrative regulations to the company registration authority.

Article 85

In the case of establishing a joint stock limited company by public share offer, the shares subscribed for by the sponsors shall be not less than thirty five percent (35%) of the total shares of the company. Where laws and administrative regulations stipulate otherwise, such stipulations shall apply.

Article 86

In a public share offer, the sponsors shall make the prospectus available to the public and prepare the share subscription form. The share subscription form shall contain the items listed in Article 87, and a subscriber shall fill in the following: the number of shares subscribed for, the amount of share proceeds, and his or her domicile, and shall sign or impress his chop on the form. A subscriber shall pay the share proceeds according to the number of shares he has subscribed for.

Article 87

The prospectus shall be accompanied with the articles of association prepared by the sponsors, and shall set forth the following:

(1) the number of shares subscribed for by the sponsors;

(2) the par value and issuing price of each share;

(3) the total number of bearer share certificates issued;

(4) the purpose of the fund raised;

(5) the rights and obligations of the subscribers;

(6) the commencing time and expiration time of the share offer, and a statement that in the event the shares have not be placed in full upon the expiration time, the subscribers may revoke their share subscriptions.

Article 88

The sponsors' share offer to the public shall be underwritten by a securities underwriter established in accordance with the law, and an underwriting agreement shall be executed.

Article 89

When conducting public share offer, the sponsors shall execute an agreement with a bank for deposit of share proceeds.

The depository bank shall collect and hold the share proceeds in accordance with the agreement, and issue receipts to subscribers who have paid their share proceeds, and is obligated to provide to the relevant authority a certificate for receipt of share proceeds.

Article 90

After the proceeds from issue of the shares are paid in full, the share capital shall be verified by a legally-prescribed capital verification institution and a certificate shall be issued thereby. Within thirty (30) days, the sponsors shall convene and preside over the establishment meeting, which is composed of the subscribers.

If the issued shares are not fully placed upon expiration of the time limit prescribed in the prospectus, or the sponsors fail to hold the establishment meeting within thirty (30) days of full payment of the proceeds from issue of the shares, the subscribers may demand that the sponsors return the share proceeds.

Article 91

The sponsors shall notify each subscriber of the date of the establishment meeting or make a public announcement for such meeting fifteen (15) days in advance. The establishment meeting may not be held unless attended by subscribers representing at least half of the shares.

The establishment meeting shall exercise the following authorities:

(1) considering the report on pre-establishment activities prepared by the sponsors;

(2) adopting the articles of association;

(3) electing members of the board of directors;

(4) electing members of the board of supervisors;

(5) verifying expenses incurred for the establishment of the company;

(6) verifying the value of the assets contributed by the sponsors in lieu of share proceeds;

(7) where an event of force majeure or any material change in operating condition affecting the company's establishment has occurred, a resolution not to establish the company may be adopted.

A resolution adopted at the establishment meeting on any of the matters mentioned in the preceding paragraph requires affirmative votes by subscribers present at the meeting representing more than half of the voting rights.

Article 92

Upon payment of the share proceeds or delivery of the items as contribution of share capital in lieu of share proceeds, the sponsors and subscribers may not withdraw their share capital, except where the shares issued are not fully placed in time, the sponsors fail to hold the establishment meeting in time, or the establishment meeting adopts a resolution not to establish the company.

Article 93

Within thirty (30) days of the completion of the establishment meeting, the board of directors shall apply for establishment registration by submitting to the company registration authority the following:

(1) the company registration application;

(2) the minutes of the establishment meeting;

(3) the articles of association;

(4) the capital verification certificate;

(5) the engagement letters and identity certificates of the legal representative, directors and supervisors;

(6) the legal person’s qualification certificate of sponsors or identity certificate of natural persons;

(7) the company’s certificate of domicile.

The verification documents issued by the securities regulatory department under the State Council shall be submitted to the company registration authority in the event of public share offer by a joint stock limited company established by public share offer.

Article 94

Sponsors failing to contribute in full after the establishment of a joint stock limited company shall make up the rest of the contribution. Other sponsors shall bear joint and several liability for such contribution.

Where the actual value of the non-currency property contribution, after the establishment of a joint stock limited company, is found to be obviously lower than the amount prescribed in the articles of association of the company, the sponsor making such contribution shall make up the balance and other sponsors shall bear joint and several liability therefor.

Article 95

The sponsors of a joint stock limited company shall bear liabilities as follows:

(1) in the event of failure to establish the company, being jointly and severally liable for the debts and expenses incurred as a result of the pre-establishment activities;

(2) in the event of failure to establish the company, being jointly and severally liable for the return of share proceeds paid by the subscribers, together with the interest thereon as if they have been deposited in a bank for a like period.

(3) if the company's interest is harmed in the course of its establishment due to the negligence of the sponsors, being liable to the company for damages.

Article 96

Where a limited liability company is converted to a joint stock limited company, the total value of the converted shares shall not be higher than the company's net assets value. Public share offering by a joint stock limited company converted from a limited liability company for the purpose of increasing capital shall be carried out in accordance with the law.

Article 97

A joint stock limited company shall maintain its articles of association, the record of shareholders, the counterfoils of bonds, the minutes of the general meeting of shareholders, the board of directors and the board of supervisors as well as its financial and accounting reports at the company's premises.

Article 98

A shareholder is entitled to inspect the articles of association, the record of shareholders, the counterfoils of bonds, the minutes of the general meeting of shareholders, the board of directors and the board of supervisors as well as its financial and accounting reports and is entitled to make a proposal or inquiry concerning the company's operation.

Section Two General Meeting of Shareholders

Article 99

The general meeting of shareholders of a joint stock limited company is composed of all shareholders. The general meeting of shareholders is the company's organ of authority, and shall exercise its authorities in accordance herewith.

Article 100

The provisions set forth in Article 38(2) with regards to the functions of the shareholders meeting of a limited liability company shall apply to the general meeting of shareholders of a joint stock limited company.

Article 101

The general meeting of shareholders shall hold an annual meeting each year. An interim general meeting of the shareholders shall be held within two (2) months upon the occurrence of any of the following circumstances:

(1) The number of directors falls below the number prescribed herein or below two-thirds of the number prescribed in the articles of association;

(2) The company's losses which are not covered have reached one-third of the total amount of the share capital;

(3) Shareholders holding at least ten percent (10%) of the company's stocks make a request;

(4) The board of directors deems necessary;

(5) The board of supervisors proposes for such a meeting;

(6) Other circumstances provided for in the articles of association.

Article 102

A general meeting of shareholders shall be convened by the board of directors and shall be presided over by the chairman of the board. Where the chairman is unable to or does not perform his duties, the meeting shall be presided over by the vice-chairman. Where the vice chairman is unable to or does not perform his duties, the meeting shall be presided over by a director jointly appointed by a majority of all the directors.

Where the board of directors is unable to or does not perform the duties to convene a general meeting of shareholders, the meeting shall be called and presided over by the board of supervisors in a timely manner. Where the board of supervisors is unable to or does not perform the duties to call and preside over a general meeting of shareholders, the shareholders individually or jointly holding ten percent (10%) of the shares of the company for consecutive ninety (90) days or more may, at its own discretion, convene and preside over a general meeting of shareholders.

Article 103

In order to hold a general meeting of shareholders, notice concerning the time, venue and matters to be considered at the meeting shall be given to each shareholder twenty days in advance. In the event of an interim meeting of shareholders, the notice may be given fifteen days in advance. Where the company has issued bearer share certificates, a public notice concerning the time, venue and matters to be considered at the meeting shall be made thirty days prior to the meeting.

Shareholders individually or jointly holding three percent (3%) of the shares of the company may, ten days prior to the general meeting of shareholders, submit a temporary written proposal to the board of directors. The board of directors shall, within two days after receipt of the proposal, inform other shareholders and submit the proposal to the general meeting of shareholders for deliberation. The items contained in the proposal shall fall within the scope of powers exercised by the general meeting of shareholders and clear topic and specific matters to be considered shall be included. The general meeting of shareholders shall not decide on any matters that are not specified in aforesaid notices. Where the holders of bearer shares attend the general meeting of shareholders, they shall deposit the shares with the company five (5) days earlier before the date of the meeting up till the closing date of the meeting.

Article 104

When a shareholder attends the general meeting of shareholders, each share he holds is entitled to one vote. However, the share held by the company itself shall not have the voting right. A resolution adopted by the general meeting of shareholders requires affirmative votes by a majority of the votes held by shareholders attending the meeting. The resolution with regards to amendment to the articles of association, increase or decrease of registered capital, merger, division or dissolution of the company or change of the form of the company requires affirmative votes by at least two-thirds of the votes held by shareholders attending the meeting.

Article 105

Where it is stipulated in this Law or the articles of association that the assignment or receipt of the company’s major assets or provision of security shall be determined at the general meeting of shareholders, the board of directors shall, in a timely manner, convene the general meeting of shareholders that will vote on aforesaid matters.

Article 106

The general meeting of shareholders shall adopt accumulative voting system when voting on the election of directors or supervisors in accordance with the articles of association or the resolution adopted by the shareholders’ general meeting. The accumulative voting system referred to herein means that in the election of the directors or supervisors at the general meeting, the number of votes attached to each share held by a

shareholder shall be equal to the number of candidates. A shareholder can multiply his voting shares by the number of candidates and vote them all for one person for director or supervisor.

Article 107

A shareholder may attend a general meeting of shareholders by proxy, the proxy holder shall present the proxy statement issued by the shareholder to the company, and shall exercise his voting rights to the extent authorized by the proxy.

Article 108

The general meeting of shareholders shall prepare minutes regarding the decisions on matters considered at the meeting, which shall be signed by the chairman of the meeting and directors attending the meeting. The minutes shall be maintained together with the record containing signatures of the shareholders attending the meeting and the proxy statements.

Section Three Board of Directors and General Manager

Article 109

A joint stock limited company shall have a board of directors, which shall be composed of not fewer than five but not more than nineteen members.

The members of the board of directors shall include representatives of the staff and workers of the company. Such representatives of the staff and workers shall be democratically elected by the staff and workers of the company through the congresses or assemblies of the workers and staff members or other forms.

The provisions of Article 46 on the term of directors of a limited liability company shall apply to that of the directors of a joint stock limited company.

The provisions of Article 47 on the functions and powers of the board of directors of a limited liability company shall apply to that of the board of directors of a joint stock limited company.

Article 110

The board of directors shall have a chairman, and may have one or two vice-chairmen. The chairman and vice-chairman shall be elected by the board of directors through affirmative votes by more than half of all the directors.

The chairman shall convene and preside over meetings of the board of directors and supervise the implementation of resolutions adopted by the board of directors. The vice-chairman shall assist the chairman in his work. Where the chairman is unable to or does not exercise his authorities, the vice-chairman appointed by the chairman shall exercise such authorities in his capacity. Where the vice chairman is unable to or does not exercise his authorities, a director jointly nominated by more than half of all the directors shall exercise such authorities.

Article 111

The board of directors shall hold meetings at least twice a year, and notice shall be given to all directors and supervisors ten days in advance. Shareholders representing one tenth of voting rights, or one third or more of all the directors or supervisors may propose to have an interim meeting of the board. The Chairman, within ten days after receipt of such proposal, may convene and preside over a meeting of the board. Where an interim meeting of the board of directors is to be held, the method and time limit for notification for convening the interim meeting may be prescribed separately.

Article 112

A meeting of the board of directors may not be held unless attended by more than half of the directors. A resolution adopted by the board of directors requires affirmative votes by more than half of all the directors.

In the voting procedures, one director shall represent one vote.

Article 113

A meeting of the board of directors shall be attended by each director in person. Where a director is unable to attend the meeting for cause, he may issue a written proxy entrusting another director to attend on his behalf, and the proxy shall set forth the scope of authorization.

The board of directors shall prepare minutes regarding the decisions on matters considered at the meeting, which shall be signed by the directors attending the meeting and the person preparing the minutes.

The directors shall be responsible for resolutions adopted by the board of directors. Where a resolution of the board violates any national statutes, administrative regulations or the articles of association, and causes the company to incur serious loss, those directors participating in the adoption of the resolution are liable to the company for damages. Provided, however, if a director is proven to have dissented at the vote adopting such resolution and such dissension was noted in the minutes, then the director may be exempt from liability.

Article 114

A joint stock limited company shall have a general manager, to be appointed or removed by the board.

The provisions of Article 50 on the functions and powers of the manager of a limited liability company shall apply to the manager of a joint stock limited company.

Article 115

The board of directors of the company may decide that a board member is to serve concurrently as the general manager.

Article 116

A joint stock limited company must not directly, or through its affiliate companies, borrow money from its directors, supervisors or senior officers.

Article 117

A joint stock limited company shall disclose on regular basis the remuneration of its directors, supervisors and senior officers.

Section Four Board of Supervisors

Article 118

A joint stock limited company shall have a board of supervisors, which shall be composed of not fewer than three (3) members.

The board of supervisors shall be composed of the shareholders' representatives and representatives of the workers of the company. The number of the workers’ representatives shall not be lower than one third of all the supervisors, the specific percentage of which shall be determined in the articles of association. The workers' representatives on the board of supervisors shall be democratically elected by the workers of the company through the congresses or assemblies of the workers and staff members or other forms. The board of supervisors shall have one chairman that shall be elected by more than half of all the supervisors. The meetings of the board of supervisors shall be convened and presided over by the chairman of the board. In the event that the chairman is unable to or does not perform his duties, the meeting shall be convened and presided over by a supervisor jointly nominated by more than half of all the supervisors.

A director and a senior officer may not serve concurrently as a supervisor.

The provisions of Article 52 on the term of the supervisor of a limited liability company shall apply to the supervisor of a joint stock limited company.

Article 119

The provisions of Article 54 and Article 55 on the functions and powers of the board of supervisors of a limited liability company shall apply to the board of the supervisors of a joint stock limited company.

Reasonable expenses necessary for supervisors to performance their duties shall be borne by the company.

Article 120

The board of supervisors shall convene a meeting at least every six months. An interim meeting of the board may be called at the request of supervisors.

The rules of deliberation and voting procedures for the board of supervisors shall be stipulated by the articles of association of the company.

The board of supervisors shall prepare a minute of the meeting signed by all supervisors attending the meeting.

Section Four Special Provisions on the Structure of a Listed Company

Article 121

A listed company referred to herein means a joint stock limited company whose shares are listed and traded on a securities exchange.

Article 122

Any purchase or sale of major assets within one year or provision of a security in an amount in excess of thirty percent (30%) of the total assets by a listed company shall be deliberated and determined at a general meeting of shareholders and the resolution adopted by such a meeting requires affirmative votes by shareholders representing two-thirds of the voting rights.

Article 123

A listed company shall have independent directors the specific method of which shall be determined by the State Council.

Article 124

A listed company shall have a secretary of the board of directors whose responsibilities include the preparation of the general meeting of shareholders and meetings of the board of directors, maintenance of documents, share management as well as relevant matters concerning information disclosure.

Article 125

The director of a listed company affiliated with the enterprise involved in the matters discussed by the board of directors shall not exercise his own, or represent other directors to exercise voting right for such matters. The meeting of the board of directors may be held once more than half of the unaffiliated directors will be present. The resolution made by the meeting of the board shall be adopted by more than half of all such directors. Where there are not more than three (3) unaffiliated directors, the relevant matters shall be forwarded to the general meeting of shareholders for deliberation.

Chapter Five Issue and Transfer of Shares of Joint Stock Limited Companies

Section One Issue of Shares

Article 126

The capital of a joint stock limited company shall be divided into shares, and all the shares shall be of equal value.

Shares of the company are represented by share certificates. A share certificate is a certificate issued by the company certifying the share held by a shareholder.

Article 127

When shares are issued, the principles of openness, fairness, and equity shall be followed, and each share in the same class must have the same rights and receive the same interests.

For shares issued at the same time, each share shall be issued on the same conditions and at the same price. All entities or individuals subscribing for shares shall pay the same price for each share.

Article 128

The issuing price per share may be at par value, or above par value, but may not be below par value.

Article 129

A share certificate shall be in paper form or in other forms prescribed by the securities regulatory authority under the State Council.

A share certificate shall set forth the following major items:

(1) the name of the company;

(2) the company's date of registration and establishment;

(3) the class and par value of the shares and the number of shares represented;

(4) the serial number of the share certificate.

The share certificate shall be signed by the chairman of the board, and the company's chop shall be impressed thereon.

Share certificates held by the sponsors shall be marked with the words Sponsors' Share.

Article 130

Share certificates issued by the company may be in the form of either registered share certificates or bearer share certificates.

Share certificates issued by the company to its sponsors or legal persons shall be registered share certificates bearing the names of such sponsors or legal persons, and may not be registered under any other names or in the names of their legal representatives.

Article 131

A company issuing registered share certificates shall maintain a record of shareholders, which shall set forth the following:

(1) the name and domicile of each shareholder;

(2) the number of shares held by each shareholder;

(3) the serial numbers of share certificates held by each shareholder;

(4) the date on which each shareholder acquired his shares.

A company issuing bearer share certificates shall record the number of such share certificates, their serial numbers and their issuing dates.

Article 132

The State Council may make separate stipulations relating to a company's issuance of shares of classes other than those prescribed herein.

Article 133

Upon registration and establishment, a joint stock limited company shall promptly deliver the share certificates to its shareholders officially. Prior to registration and establishment, the company may not deliver any share certificate to its shareholders.

Article 134

Where a company is to issue new shares, the general meeting of shareholders or the board of directors shall adopt a resolution concerning the following in accordance with the articles of association:

(1) the classes and number of the new shares;

(2) the issuing price of the new shares;

(3) the commencing and ending dates of issuance of the new shares;

(4) the classes and number of new shares issued to the existing shareholders.

Article 135

When a company is approved by the securities supervision and administration department under the State Council to issue new shares to the public, it shall make public the prospectus for the issue of new shares, its financial and accounting statements, and shall prepare the subscription form.

The provisions of Article 88 and Article 89 shall apply to the issue of new shares.

Article 136

In issuing new shares, a company may determine the pricing scheme in light of the business operation and financial conditions of the company.

Article 137

Upon full receipt of the share proceeds from the company's newly issued shares, the company shall carry out amendment registration with the company registration authority and shall make a public announcement.

Section Two Assignment Of Shares

Article 138

Shares held by a shareholder may be assigned in accordance with the law.

Article 139

Assignment of shares by a shareholder must be carried out at a lawfully established securities exchange or in other manners stipulated by the State Council.

Article 140

Assignment of registered share certificates is effected by the shareholder's endorsement thereof or by other methods prescribed by the relevant national statutes or administrative regulations. In the case of assignment of registered share certificates, the company shall record the assignee's name and domicile on the record of shareholders.

Alteration registration for the record of shareholders referred to in the preceding paragraph shall not be carried out for a period of twenty days prior to the holding of a general meeting of shareholders, or five days prior to the record date for the purpose of dividend distribution determined by the company. However, where such change of shareholders is otherwise stipulated by the law, such stipulations shall apply.

Article 141

Assignment of bearer share certificates takes effect upon delivery thereof by the shareholder to the assignee.

Article 142

Shares of a company held by its sponsors may not be assigned for a period of one year commencing from the date of the company's establishment. Shares that have been issued before the public offer shall not be transferred for a period of one year commencing from the date of trading of the company’s shares on a stock exchange.

The directors, supervisors and senior officers of the company shall report to the company the number of the company's shares held thereby and any change of such shareholding. The shares transferred within their term of office each year shall not exceed twenty-five percent (25%) of the total shares of the company held by them. Shares of the company held by aforesaid people shall not be transferred for a period of one year commencing from the date of trading of the company’s shares on a stock exchange. These people, within half of the year from their departure from the company, shall not transfer the shares of the company held by them. The articles of association may otherwise provide for restrictions on the transfer of the shares of the company held by its directors, supervisors and senior officers.

Article 143

A company may not purchase its own shares, except in the following cases:

(1) reducing the company's registered capital;

(2) merging with another company holding shares of the company;

(3) granting incentive shares to the staff and workers of the company;

(4) requesting the company to purchase its own shares where shareholders of the company oppose the decision on merge or division of the company made at a general meeting of shareholders.

A resolution shall be adopted by a general meeting of shareholders in the event of a purchase as described in the above items from (1) through (3). The original shares, after the company has purchased its own shares in the case as described in item (1), shall be cancelled within ten days of such purchase. In the cases as described in item (2) and (4), the shares shall be transferred or canceled within six months of such purchase.

The shares of the company purchased by itself in the case as described in item (3) shall not exceed five percent (5%) of the total shares issued by the company. The fund for such purchase shall be paid out of the after-tax profits of the company and the shares purchased shall be transferred to the staff and workers within one year of such purchase.

The company may not accept its own shares as the collateral under a security arrangement.

Article 144

If a registered share certificate is stolen, lost or destroyed, the shareholder may petition a people's court for the invalidation thereof through the public notice procedure prescribed in the Civil Procedural Law of the People's Republic of China.

After the people's court has invalidated such share certificate through the public notice procedure, the shareholder may apply to the company for re-issuance of a certificate for the share.

Article 145

The shares of a company approved for listing shall be listed in accordance with laws, administrative regulations and trading rules set forth by a stock exchange.

Article 146

A listed company shall make public its financial conditions and operating conditions in accordance with the relevant laws and administrative regulations, and shall make public its financial and accounting reports semiannually in each fiscal year.

Chapter Six: Qualifications and Obligations of Directors, Supervisors and Senior Officers

Article 147

A person in any of the following categories may not serve as a director, supervisor, or the general manager of a company:

(1) without civil capacity or with limited civil capacity;

(2) having been sentenced to prison for the following crimes, and completion of the sentence being less than five years ago: embezzlement, bribery, conversion of property, misappropriation of property, sabotage of social economic order; or having been deprived of political rights as a result of a criminal conviction, and completion of such sanction being less than five years ago;

(3) having served as a director, the factory chief, or the general manager of a company or enterprise which underwent bankruptcy liquidation as a result of mismanagement, and being personally responsible for such bankruptcy, and completion of the bankruptcy liquidation being less than three years ago;

(4) having served as the legal representative of a company or enterprise whose business license was revoked due to its violation of law, and being personally responsible for such revocation, and such revocation occurring less than three years ago;

(5) in default of personal debt of a significant amount.

If the company elects or appoints a director or supervisor or employs the senior officer in violation of the above paragraph, such election, appointment or employment is invalid. The company shall remove the director, supervisor or senior officer once the circumstances described in item (1) occur.

Article 148

A director, supervisor, or the general manager shall abide by laws, administrative regulations and articles of association of the company and shall have the fiduciary and diligent duties to the company.

A director, supervisor, or the senior officer may not abuse their authorities by accepting bribes or generating other illegal income, and may not convert company property.

Article 149

The director and senior officer:

(1) may not misappropriate company funds;

(2) may not deposit company assets into an account in his own name or in any other individual's name;

(3) may not loan company funds to other people or give company assets as security for the debt of any other individual without the approval of the shareholders meeting, general meeting of shareholders or the board of directors in violation of the articles of association;

(4) may not execute any contract or engage in any transaction with the company in violation of the articles of association or without the approval of the shareholders meeting or the general meeting of shareholders;

(5) may not use the favorable conditions and conveniences to seek the business opportunities that shall belong to the company to engage in the same business as the company in which he serves as a director or the senior officer either for his own account or for any other person's account without the approval of the shareholders meeting or the general meeting of shareholders;

(6) may not accept and possess the commissions paid by others for transactions conducted with the company;

(7) may not disclose company confidential information without authorization;

(8) may not engage in other activities in violation of his fiduciary duties.

Article 150

If a director, supervisor or the senior officer causes detriment to the company while performing his duties in violation of laws, administrative regulations or the articles of association, he shall be liable for the loss so caused.

Article 151

Where the shareholders meeting or the general meeting of shareholders requires a director, supervisor or the senior officer to be present at meetings, they shall be present at meetings and answer the inquiries of shareholders.

A director or senior officer shall provide the board of supervisors or the supervisors of a limited liability company without a board of supervisors with genuine documents and information and shall not obstruct the board of supervisors or supervisors from performing duties.

Article 152

Where a director or senior officer is involved in the circumstance as described in Article 150, the shareholders of a limited liability company or a joint stock limited company that individually or jointly hold one percent (1%) of the total shares for consecutive 180 days may request in writing the board of supervisors or the supervisors of a limited liability company without a board of supervisors to file suit before a people’s court. Where a supervisor is involved in the circumstance as described in Article 150, aforesaid shareholders may request in writing the board of directors or the executive director of a limited liability company without a board of directors to file suit before a people’s court.

Where the board of supervisors or the supervisors of a limited liability company without a board of supervisors, or the board of directors or the executive director refuses to file suit after receipt of the written request mentioned above, or does not file suit within thirty days of the receipt of the same, or comes across an emergency where, if no immediate actions are taken, the company’ s interests shall be incurably impaired, then the shareholders may, for the interest of the company and on their own behalf, directly file suit before a people’s court.

Where the company’s legal rights and interests are violated by others and in the event of any losses incurred, the shareholders defined in the first preceding paragraph may file suit before a people’s court in accordance with the first two preceding paragraphs.

Article 153

Where a director or senior officer violates laws, administrative registrations or the articles of association, or infringes upon the rights and interests of the shareholders, the shareholders may file suit before a people’s court.

Chapter Seven: Company Bonds

Article 154

Company bonds referred to herein means a form of security which is issued by a company in accordance with legally prescribed procedure, and which provides that the principal thereof and interest thereon shall be paid at specified times. The issue of company bonds shall meet the requirements set forth by the Securities Law of the People’s Republic of China.

Article 155

Upon approval of an application for company bonds issue granted by the relevant department authorized by the State Council, the plan for company bonds offer shall be made public. The plan for company bonds offer shall set forth the following major items:

(1) the name of the company;

(2) the purpose of the fund raised;

(3) the total value of the bonds and the par value of each bond;

(4) the determination method of the rate of interest on the bonds;

(5) the time limit and method for payment of the principal of and interest on the bonds;

(6) the security information concerning the bonds;

(7) the price, the commencing and ending date of the bonds issue;

(8) the net assets value of the company;

(9) the total value of issued and outstanding company bonds;

(10) the underwriter of the company bonds.

Article 156

Where material company bonds are issued, a company must state on each bond certificate the name of the company, the par value of the bond, interest rate, and repayment period, and the bond certificate shall be signed by the legal representative, and the company's chop shall be impressed thereon.

Article 157

Company bonds may be classified as either registered bonds or bearer bonds.

Article 158

If a company has issued bonds, it shall maintain a record of bondholders.

If registered bonds are issued, the following shall be recorded on the company's record of bondholders:

(1) the name and domicile of each bondholder;

(2) the dates on which the bondholders acquired the bonds and the serial numbers of the bond certificates;

(3) the total value of the bonds, the par value of each bond, the interest thereon, the term thereof and method for payment of principal and interest;

(4) the date of issue of the bonds.

If bearer company bonds are issued, the company's record of bondholders shall record the total value of such bonds, the interest rate thereon, the term thereof and the method for repayment, and the date of issue and the serial numbers of the bond certificates.

Article 159

In the event of registered bonds, securities registration and settlement organizations shall establish relevant rules and regulations for the bonds registration, deposit, interest payment and bond redemption.

Article 160

Company bonds may be assigned, the price of which shall be agreed upon between the assignor and the assignee.

Where the company bonds are listed and traded at a securities exchange, the assignment of the bonds shall be conducted in accordance with the trading rules of the securities exchange.

Article 161

Assignment of registered company bonds is effected by the bondholder's endorsement of the bonds or by other methods prescribed by relevant laws and administrative regulations. After the assignment of the bonds, the company shall record the assignee's name and domicile on the record of bondholders.

Assignment of bearer bonds takes effect upon delivery thereof by the bondholder to the assignee at a lawfully established securities exchange.

Article 162

Upon adoption of a resolution by the general meeting of shareholders, a listed company may issue bonds which are convertible to its shares, and it shall prescribe the specific method for such conversion in the plan for company bonds offer. In order to issue convertible company bonds, an application shall be submitted to the securities regulatory authority under the State Council for approval. In the case of issue of convertible company bonds, the face of the bond certificate shall be marked with the word "Convertible," and the number of convertible company bonds shall be specified in the company's record of bondholders.

Article 163

Where convertible company bonds are issued, the company shall exchange its shares for the bonds held by the bondholders using the prescribed method of conversion, provided that the bondholders have the option on whether or not to convert their bonds.

Chapter Eight : Financial and Accounting Affairs of Company

Article 164

A company shall establish its financial and accounting system in accordance with the relevant national statutes, administrative regulations and the stipulations of the finance authority under the State Council.

Article 165

A company shall prepare its financial and accounting reports at the end of each fiscal year, which shall be audited by an accounting firm in accordance with the law. The financial and accounting reports shall be complied pursuant to relevant laws, administrative regulations and relevant regulations set forth by the finance authority under the State Council.

Article 166

A limited liability company shall deliver its financial and accounting reports to each shareholder within the time limit prescribed by the articles of association.

The financial and accounting reports of a joint stock limited company shall be available at the company's premises for shareholders' inspection as from the twentieth day prior to the annual general meeting of shareholders.

A joint stock limited company established through public share offer shall make public its financial and accounting reports.

Article 167

In distributing its current year after-tax profit, a company shall allocate ten percent (10%) of the profit to its statutory reserve fund. Allocation to the company's statutory reserve fund may be waived once the cumulative amount of funds therein exceeds fifty percent (50%) of the company's registered capital.

Where the statutory reserve fund is not sufficient to cover the company's loss from the previous year, the current year profit shall be used to cover such loss before allocation is made to the statutory reserve fund pursuant to the preceding paragraph.

After allocation to the statutory reserve fund has been made from the after-tax profit of the company, and upon adoption of a resolution by the shareholders meeting or the general meeting of shareholders, allocation may be made to the discretionary reserve fund.

After the company has covered its losses, and made allocation to the reserve funds, the remainder of the profit shall be distributed to the shareholders in accordance with the provisions of Article 35 in the case of a limited liability company, and in proportion to their share holdings in the case of a joint stock limited company unless otherwise stipulated in its articles of association.

If the shareholders meeting, the general meeting of shareholders or the board of directors, in violation of the preceding paragraph, distributes profit to the shareholders before covering company losses and making allocation to company statutory reserve fund, the profit so distributed must be returned to the company. The shares of the company held by the company itself shall not be granted profit distribution.

Article 168

The premium received by a joint stock limited company through issuance of shares at prices above par value, as well as other incomes to be allocated to the capital reserve fund as stipulated by the finance authority under the State Council, shall be allocated to the capital reserve fund.

Article 169

The reserve funds of the company shall be used to cover company losses, expand its production and operation, or be converted to the company's increased capital. The capital reserve fund must not be used to cover company losses.

Upon conversion of statutory reserve fund into capital, the amount remaining in the statutory reserve fund may not fall below twenty-five percent (25%) of the registered capital.

Article 170

Engagement or dismissal of an accounting firm to be responsible for the audit of the financial and accounting reports of a company shall be determined by the shareholders meeting, the general meeting of shareholders or the board of directors in accordance with the articles of association.

When the shareholders meeting, the general meeting of shareholders or the board of directors votes on the matter of dismissal of an accounting firm, the said firm shall be given the chance to state its opinions.

Article 171

The company shall provide the accounting firm with true and complete accounting certificates, books, financial and accounting reports and other accounting materials and must not refuse to provide or conceal such documents, or report deceitfully.

Article 172

The company shall not establish any separate accounting book besides the accounting books prescribed by law. The company's assets shall not be deposited into any account established under an individual's name.

Chapter Nine:Merger and Division of Company, Increase and Decrease of Registered Capital

Article 173

Companies may be merged by absorption and merger by consolidation.

One company absorbing another company is merger by absorption, and the company being absorbed shall be dissolved. Merger of two or more companies through establishment of a new company is a consolidation, and the companies being consolidated shall be dissolved.

Article 174

In a merger of companies, the companies shall execute a merger agreement, and prepare their respective balance sheets and schedules of assets. The companies shall notify their creditors within ten days of adoption of merger resolutions, and shall publish a notice in a newspaper within thirty days. Creditors are entitled to claim full payment of the debts of the companies or require the provision of appropriate assurances within thirty days of receipt of the notice, or within forty-five days of publication of the first notice if such creditors did not receive the notice.

Article 175

Once the companies are merged, the creditor's rights and debtor's liabilities of the merged companies shall be assumed by the surviving company or the newly formed company after merger.

Article 176

Where a company is to undergo division, its assets shall be divided accordingly.

In dividing the company, a balance sheet and a schedule of assets shall be prepared. The company shall notify its creditors within ten days of adoption of a division resolution, and shall publish a notice in a newspaper within thirty days.

Article 177

The company resulting from the division shall bear joint liabilities for the debts of the company prior to its division except otherwise stipulated in a written agreement concluded before the division by and between the company and its creditor.

Article 178

Where a company needs to reduce its registered capital, a balance sheet and a schedule of assets must be prepared.

The company shall notify its creditors within ten days of adoption of a resolution to reduce its registered capital, and shall publish a notice in a newspaper within thirty days. Creditors are entitled to claim full payment of the company's debts or require the provision of appropriate assurances within thirty days of receipt of the notice, or within forty-five days of publication of the first notice if such creditors did not receive the notice.

After capital reduction, the company's registered capital may not fall below the statutory minimum capital level.

Article 179

When a limited liability company is to increase its registered capital, after subscription for the newly increased capital, the shareholders shall make capital contribution in accordance with the provisions hereof concerning capital contribution for the establishment of a limited liability company.

When a joint stock limited company is to issue new shares for the purpose of increasing its registered capital, the shareholders' subscription for the new shares shall be carried out in accordance with the provisions hereof concerning payment of share proceeds for the establishment of a joint stock limited company.

Article 180

In the case of merger or division of a company, where any registered item requires change, amendment registration shall be carried out with the company registration authority in accordance with the law; where the company is dissolved, company de-registration shall be carried out in accordance with the law; where a new company is established, establishment registration shall be carried out in accordance with the law.

Where a company is to increase or reduce its registered capital, a amendment registration shall be carried out with the company registration authority in accordance with the law.

Chapter Ten: Dissolution and Liquidation of Company

Article 181 A company may be dissolved for any one of the following reasons:

(1) the term of operation prescribed by the company's articles of association has expired, or any other cause for dissolution prescribed by the company's articles of association has occurred;

(2) the shareholders meeting or the general meeting of shareholders has adopted a resolution for dissolution;

(3) dissolution is required due to merger or division of the company;

(4) the business license of the company is revoked by law, or the company is ordered to terminate or cancelled;

(5) the company is dissolved by the people’s court in accordance with the provisions of Article 183.

Article 182

Where a company is involved in the circumstance described in the above Article 181 (1), the company may amend its articles of association to continue its existence. The amendment to the articles of association shall be adopted by two thirds or more of all voting shareholders in the case of a limited liability company. In the event of a joint stock limited company, the amendment requires affirmative votes by at least two-thirds of the votes held by shareholders attending the general meeting of shareholders.

Article 183

Where there are serious difficulties in the operation of a company and the company’s continuance will definitely cause significant losses to shareholders’ interests, however, such scenario cannot be solved through other channels, then, shareholders representing 10% of all the votes may request the people’s court to dissolve the company.

Article 184

Where a company is to be dissolved pursuant to Article 181 (1), (2), (3), (4) and (5), a liquidation committee shall be formed within fifteen days; the liquidation committee of a limited liability company shall be composed of its shareholders, and members of the liquidation committee of a joint stock limited company shall be determined by the board of directors or the general meeting of shareholders; where the company fails to form a liquidation committee to carry out liquidation within the prescribed time limit, its creditors may petition the people's court to appoint the relevant persons to form a liquidation committee to carry out liquidation. The people's court shall accept such petition, and promptly appoint members of the liquidation committee to carry out liquidation.

Article 185

The liquidation committee shall exercise the following authorities in the course of liquidation:

(1) identifying the company's assets, and preparing a balance sheet and a schedule of assets respectively;

(2) notifying creditors through notice or public announcement;

(3) handling the company's ongoing businesses which are related to liquidation;

(4) making full payment of taxes owed and the taxes incurred during liquidation;

(5) identifying the company's creditor's rights and debtor's liabilities;

(6) disposing of the remaining assets after full payment of company debts;

(7) participating in civil actions on behalf of the company.

Article 186

The liquidation committee shall notify creditors within ten days of its establishment, and shall make a public announcement in a newspaper within sixty days. Creditors shall file their creditor's rights with the liquidation committee within thirty days of receipt of the notice, and within forty-five days of publication of the first notice if such creditors did not receive the notice.

In filing for creditor's rights, the creditors shall state the relevant matters relating to the creditor's rights, and provide supporting materials. The liquidation committee shall record such creditor's rights. During the filing for creditor’s rights, the liquidation committee shall not pay any debts to creditors.

Article 187

After identifying the company's assets and preparing the balance sheet and schedule of assets, the liquidation committee shall prepare a liquidating plan, which shall be submitted to the shareholders meeting, the general meeting of shareholders or the people’s court for ratification.

After payment of liquidating expenses, payment of wages and expenses for labor insurance of the workers, payment of taxes owed, and payment of company debts are made, the remaining assets shall be distributed to the shareholders in proportion to their shares of capital contribution in the case of a limited liability company, and in proportion to their share holdings in the case of a joint stock limited company. In the course of liquidation, the company continues its existence but shall not conduct any business activities irrelevant to the liquidation. Before payments have been made in accordance with the preceding regulations, the assets of the company shall not be distributed to the shareholders.

Article 188

Where the liquidation committee, after identification of company assets and preparation of the balance sheet and schedule of assets, discovers that the company does not have sufficient assets to fully repay company debts, the liquidation committee shall file a bankruptcy application with the people's court in accordance with the law.

Once the company is adjudged bankrupt by a ruling of the people's court, the liquidation committee shall transfer the liquidating affairs to the people's court.

Article 189

Upon completion of a company's liquidation, the liquidation committee shall prepare a liquidating report, which shall be submitted to the shareholders meeting, the general meeting of shareholders or the people’s court for ratification, and upon ratification, the liquidation committee shall submit such report to the company registration authority to apply for company de-registration, and make a public announcement of the company's termination.

Article 190

Members of the liquidation committee shall faithfully perform their duties and carry out their liquidating obligations in accordance with the law.

Members of the liquidation committee may not abuse their authorities by accepting bribes or receiving other illegal income, and may not misappropriate company assets.

A committee member who causes loss to the company or its creditors due to his intentional misconduct or gross negligence shall be liable for damages.

Article 191

Where a company is declared bankrupt in accordance with the law, the company's bankruptcy liquidation shall be carried out in accordance with the relevant applicable laws.

Chapter Eleven : Branch of Foreign Company

Article 192

A foreign company referred to herein means a company registered and established outside China under foreign laws.

Article 193

In order to establish a branch within China, a foreign company must submit an application to the Chinese authority in charge, together with the relevant documents such as its articles of association, the company registration certificate issued in its home country, etc. Upon approval, it shall carry out registration with the company registration authority and be issued a business license.

The examination and approval procedure for branches of foreign companies shall be separately prescribed by the State Council.

Article 194

In order to establish a branch within China, a foreign company must appoint a representative or agent in charge of such branch within China, and fund its branch as appropriate in light of the nature of its intended business. Where operation of certain branches of foreign companies is subject to a minimum level of funding, such level shall be prescribed by the State Council separately.

Article 195

The branch of a foreign company shall identify the nationality and form of liability in its name.

The branch of a foreign company shall maintain the articles of association of such foreign company on its premises.

Article 196

A foreign company is a foreign legal person, and its branch established within China does not have the status of a Chinese legal person.

A foreign company shall bear civil liabilities in respect of the business conducted by its branch within China.

Article 197

While conducting business within China, the branch of a foreign company established after approval must abide by Chinese law, and may not harm the public interest of China, and its lawful rights and interests are protected by Chinese law.

Article 198

When a foreign company cancels its branch within China, such company must fully repay the debts thereof in accordance with the law and carry out liquidation in accordance with the provisions hereof concerning company liquidation procedure. The company may not transfer the assets of such branch abroad prior to full repayment of its debts.

Chapter Twelve: Legal Liabilities

Article 199

In the case of company registration, where an applicant obtains company registration in violation hereof by making false statement of registered capital, submitting false certificates or by concealing material facts through other fraudulent means, the company shall be ordered to make rectification, and in the event false statements of registered capital were made, the company shall be fined not less than five percent (5%) but not more than fifteen percent (15%) of the amount of registered capital falsely stated; the company submitting false certificates or concealing material facts shall be fined not less than RMB 50,000 but not more than RMB 500,000; where the circumstances are serious, the company registration shall be revoked or the business license of the company shall be cancelled.

Article 200

Where the sponsors or shareholders falsify capital contribution by failing to pay money, to deliver or delay in the delivery of currency or non-currency property, they shall be ordered by the company registration authority to make rectification, and such persons shall be fined not less than five percent (5%) but not more than fifteen percent (15%) of the amount of capital contribution falsified.

Article 201

Where the sponsors or shareholders of a company withdraw their capital contribution after the establishment of the company, they shall be ordered by the company registration authority to make rectification, and such persons shall be fined not less than five percent (5%) but not more than fifteen percent (15%) of the amount of capital contribution withdrawn.

Article 202

Where a company, in violation hereof, establishes another set of accounting books besides those prescribed by law, it shall be ordered by the company registration authority to make rectification, and the company shall be fined not less than RMB 50, 000 but not more than RMB 500, 000.

Article 203

Where a company provides to its shareholders and the public financial and accounting reports which are false or which conceal material facts, a fine of not less than RMB 30,000 but not more than RMB 300,000 shall be imposed by relevant authority on the supervisor directly in charge and the other person(s) directly responsible.

Article 204

Where a company fails to make allocation to the statutory reserve fund in accordance herewith, such company shall be ordered by the finance authority of the people’s government at the level of county or higher to make full allocation to the required funds, and a fine of not more than RMB 200,000 may be levied on the company.

Article 205

Where a company fails to notify creditors through notice or public announcement in accordance herewith while carrying out merger, division, reduction of registered capital, or liquidation, it shall be ordered by the company registration authority to make rectification, and the company shall be fined not less than RMB 10,000 but not more than RMB 100,000.

Where in the course of liquidation, the company conceals its assets, makes false statements in its balance sheet or schedule of assets, or distributes company assets prior to full repayment of company debts, it shall be ordered to make rectification, and the company shall be fined not less than five percent (5%) but not more than ten percent (10%) of the value of the concealed assets, or the value of the assets distributed prior to full repayment of company debts. A fine of not less than RMB 10,000 but not more than RMB 100,000 shall be imposed on the supervisor directly in charge and the other person(s) directly responsible. Where such action constitutes a crime, criminal liability shall be imposed in accordance with the law.

Article 206

Where the company engages in any business activities unrelated to the liquidation, it shall be warned by the company registration authority and its income derived therefrom shall be confiscated.

Article 207

Where the liquidation committee fails to submit the liquidating report to the company registration authority in accordance herewith, or conceals any material fact or makes any material omission in the liquidating report submitted, it shall be ordered by the company registration authority to make rectification.

Where a member of the liquidation committee abuses his authority to engage in fraudulent activity for private gain, to obtain illegal income or convert company assets, such member shall be ordered to return the company assets, and the illegal income shall be confiscated, and such member may be fined not less than two times but not more than five times the illegal income.

Article 208

Where an institution conducting assets appraisal, capital verification, or testing and verification provides a false certificate, the illegal income so derived shall be confiscated, and a fine of not less than two times but not more than five times the illegal income shall be imposed, and the relevant authority in charge may order such institution to cease operation, and revoke the qualification certificates of the persons directly responsible. Where such action constitutes a crime, criminal liability shall be imposed in accordance with the law.

Where an institution conducting assets appraisal, capital verification or testing and verification provides a report with material omission due to its negligence, it shall be ordered to make rectification, and where the circumstance is relatively serious, a fine of not less than two times but not more than five times the income so derived shall be imposed, and the relevant authority in charge may order such institution to cease operation, and revoke the qualification certificates of the persons directly responsible.

Where the appraisal report, capital verification report or verification issued by an institution conducting assets appraisal, capital verification or testing and verification does not comply with the fact which has caused losses to the company’s creditors, the institution conducting assets appraisal, capital verification or testing and verification shall, unless they can prove they have no fault, make compensations within the range of amount in discord with the fact.

Article 209

Where the company registration authority grants registration to an application which fails to meet the requirements prescribed herein or, refuses to grant registration to an application which meets the requirements prescribed herein, administrative penalty shall be imposed on the supervisor directly in charge and the other person(s) directly responsible in accordance with the law.

Article 210

Where the department in charge of the company registration authority compels it to grant registration to an application which fails to meet the requirements prescribed herein, or engages in cover up for an illegal registration, administrative penalty shall be imposed on the supervisor directly in charge and the other person(s) directly responsible in accordance with the law.

Article 211

Where an entity passes itself off as a limited liability company or joint stock limited company while not registered as such in accordance with the law, or an entity passes itself off as a branch company of a limited liability company or joint stock limited company while not registered as such in accordance with the law, it shall be ordered by the company registration authority to make rectification or such entity shall be closed down, and a fine of not more than RMB 100,000 may be imposed.

Article 212

Where a company fails to commence operation for more than 6 months without proper cause, or suspends operation on its own without proper cause for more than 6 consecutive months after commencement of operation, the company registration authority shall revoke its company business license.

Where the company fails to carry out amendment registration in accordance herewith when a registered item of the company has changed, it shall be ordered to register within a prescribed time limit, and where the company has not carried out registration after expiration of the time limit, a fine of not less than RMB 10,000 but not more than RMB 100,000 shall be imposed.

Article 213

Where, in violation hereof, a foreign company establishes a branch within China without approval, it shall be ordered to make rectification, or such branch shall be ordered to terminate, and a fine of not less than RMB 50,000 but not more than RMB 200,000 may be imposed.

Article 214

Where a company conducts illegal activities jeopardizing the national security and social public interests, the business license of such company shall be revoked.

Article 215

Where a company violates of this Law, and is therefore liable for civil damages as well as for an administrative fine or criminal fine, and its assets are not sufficient to cover both, its assets shall first be used to cover the civil liability for damages.

Article 216

Where any violation of this Law constitutes a crime, criminal liability shall be imposed in accordance with the law.

Chapter Thirteen : Supplementary Provisions

Article 217

For the purpose of this Law, the definitions of the following terms are:

(1) Senior Officer referred to herein means the manager, deputy manager, person in charge of financial affairs, secretary of the board of directors of a listed company or any other personnel so appointed in the article of association of the company.

(2) Controlling Shareholder referred to herein means the shareholder which amount of capital contribution accounts for more than fifty percent (50%) of the total amount of capital of a limited liability company or, the shareholder with more than fifty percent (50%) of the total amount of share capital of a joint stock limited company or, the shareholder of either a limited liability company or a joint stock limited company which, by virtue of its voting right represented by its capital contribution or shareholding, has a significant impact on the decision of shareholders meeting or the general meeting of shareholders regardless of a percentage lower than fifty percent as aforementioned.

(3) Actual Controller referred to herein means a person who is not a shareholder of the company but has virtual control over corporate actions through investment in, agreement or other arrangements with the company.

(4) Affiliation referred to herein means the connection between a controlling shareholder, actual controller, director, supervisor or senior officer of a company and the enterprises controlled by them, directly or indirectly, or any other kinds of relationships that are likely to cause diversion of the company’s interests. Notwithstanding the foregoing, companies which majority of shares are controlled by the state are not necessarily affiliated with one another simply because the majority of their shares are commonly controlled by the state.

Article 218

This Law shall be applicable to foreign-invested limited liability companies and joint stock limited companies. Where the laws on enterprises with foreign investment provide otherwise, such provisions shall apply.

Article 219

This Law shall become effective on January 1, 2006.

 

中华人民共和国公司法

(1993年12月29日第八届全国人民代表大会常务委员会第五次会议通过 根据1999年12月25日第九届全国人民代表大会常务委员会第十三次会议《关于修改〈中华人民共和国公司法〉的决定》第一次修正 根据2004年8月28日第十届全国人民代表大会常务委员会第十一次会议《关于修改〈中华人民共和国公司法〉的决定》第二次修正 2005年10月27日第十届全国人民代表大会常务委员会第十八次会议修订)

目录

第一章 总则

第二章 有限责任公司的设立和组织机构

第一节 设立

第二节 组织机构

第三节 一人有限责任公司的特别规定

第四节 国有独资公司的特别规定

第三章 有限责任公司的股权转让

第四章 股份有限公司的设立和组织机构

第一节 设立

第二节 股东大会

第三节 董事会、经理

第四节 监事会

第五节 上市公司组织机构的特别规定

第五章 股份有限公司的股份发行和转让

第一节 股份发行

第二节 股份转让

第六章 公司董事、监事、高级管理人员的资格和义务

第七章 公司债券

第八章 公司财务、会计

第九章 公司合并、分立、增资、减资

第十章 公司解散和清算

第十一章 外国公司的分支机构

第十二章 法律责任

第十三章 附则

第一章 总则

第一条 【立法目的】为了规范公司的组织和行为,保护公司、股东和债权人的合法权益,维护社会经济秩序,促进社会主义市场经济的发展,制定本法。

第二条 【调整对象】本法所称公司是指依照本法在中国境内设立的有限责任公司和股份有限公司。

第三条 【公司的界定】公司是企业法人,有独立的法人财产,享有法人财产权。公司以其全部财产对公司的债务承担责任。

有限责任公司的股东以其认缴的出资额为限对公司承担责任;股份有限公司的股东以其认购的股份为限对公司承担责任。

第四条 【股东权利】公司股东依法享有资产收益、参与重大决策和选择管理者等权利。

第五条 【合法经营和合法权益受保护】公司从事经营活动,必须遵守法律、行政法规,遵守社会公德、商业道德,诚实守信,接受政府和社会公众的监督,承担社会责任。

公司的合法权益受法律保护,不受侵犯。

第六条 【公司设立的准则主义】设立公司,应当依法向公司登记机关申请设立登记。符合本法规定的设立条件的,由公司登记机关分别登记为有限责任公司或者股份有限公司;不符合本法规定的设立条件的,不得登记为有限责任公司或者股份有限公司。

法律、行政法规规定设立公司必须报经批准的,应当在公司登记前依法办理批准手续。

公众可以向公司登记机关申请查询公司登记事项,公司登记机关应当提供查询服务。

第七条 【公司营业执照】依法设立的公司,由公司登记机关发给公司营业执照。公司营业执照签发日期为公司成立日期。

公司营业执照应当载明公司的名称、住所、注册资本、实收资本、经营范围、法定代表人姓名等事项。

公司营业执照记载的事项发生变更的,公司应当依法办理变更登记,由公司登记机关换发营业执照。

第八条 【公司的名称】依照本法设立的有限责任公司,必须在公司名称中标明有限责任公司或者有限公司字样。

依照本法设立的股份有限公司,必须在公司名称中标明股份有限公司或者股份公司字样。

第九条 【公司形式变更的准则主义与债权债务承继】有限责任公司变更为股份有限公司,应当符合本法规定的股份有限公司的条件。股份有限公司变更为有限责任公司,应当符合本法规定的有限责任公司的条件。

有限责任公司变更为股份有限公司的,或者股份有限公司变更为有限责任公司的,公司变更前的债权、债务由变更后的公司承继。

第十条 【公司的住所】公司以其主要办事机构所在地为住所。

第十一条 【公司的章程】设立公司必须依法制定公司章程。公司章程对公司、股东、董事、监事、高级管理人员具有约束力。

第十二条 【公司的经营范围】公司的经营范围由公司章程规定,并依法登记。公司可以修改公司章程,改变经营范围,但是应当办理变更登记。

公司的经营范围中属于法律、行政法规规定须经批准的项目,应当依法经过批准。

第十三条 【公司法定代表人】公司法定代表人依照公司章程的规定,由董事长、执行董事或者经理担任,并依法登记。公司法定代表人变更,应当办理变更登记。

第十四条 【分公司与子公司】公司可以设立分公司。设立分公司,应当向公司登记机关申请登记,领取营业执照。分公司不具有法人资格,其民事责任由公司承担。

公司可以设立子公司,子公司具有法人资格,依法独立承担民事责任。

第十五条 【公司的转投资及其限制】公司可以向其他企业投资;但是,除法律另有规定外,不得成为对所投资企业的债务承担连带责任的出资人。

第十六条 【公司转投资及提供担保的程序规定】公司向其他企业投资或者为他人提供担保,依照公司章程的规定,由董事会或者股东会、股东大会决议;公司章程对投资或者担保的总额及单项投资或者担保的数额有限额规定的,不得超过规定的限额。

公司为公司股东或者实际控制人提供担保的,必须经股东会或者股东大会决议。

前款规定的股东或者受前款规定的实际控制人支配的股东,不得参加前款规定事项的表决。该项表决由出席会议的其他股东所持表决权的过半数通过。

第十七条 【公司的劳动保护等义务】公司必须保护职工的合法权益,依法与职工签订劳动合同,参加社会保险,加强劳动保护,实现安全生产。

公司应当采用多种形式,加强公司职工的职业教育和岗位培训,提高职工素质。

第十八条 【公司的工会及民主管理】公司职工依照《中华人民共和国工会法》组织工会,开展工会活动,维护职工合法权益。公司应当为本公司工会提供必要的活动条件。公司工会代表职工就职工的劳动报酬、工作时间、福利、保险和劳动安全卫生等事项依法与公司签订集体合同。

公司依照宪法和有关法律的规定,通过职工代表大会或者其他形式,实行民主管理。

公司研究决定改制以及经营方面的重大问题、制定重要的规章制度时,应当听取公司工会的意见,并通过职工代表大会或者其他形式听取职工的意见和建议。

第十九条 【公司中的中国共产党组织】在公司中,根据中国共产党章程的规定,设立中国共产党的组织,开展党的活动。公司应当为党组织的活动提供必要条件。

第二十条 【股东滥用权利的责任】公司股东应当遵守法律、行政法规和公司章程,依法行使股东权利,不得滥用股东权利损害公司或者其他股东的利益;不得滥用公司法人独立地位和股东有限责任损害公司债权人的利益。

公司股东滥用股东权利给公司或者其他股东造成损失的,应当依法承担赔偿责任。

公司股东滥用公司法人独立地位和股东有限责任,逃避债务,严重损害公司债权人利益的,应当对公司债务承担连带责任。

第二十一条 【禁止关联行为】公司的控股股东、实际控制人、董事、监事、高级管理人员不得利用其关联关系损害公司利益。

违反前款规定,给公司造成损失的,应当承担赔偿责任。

第二十二条 【无效决议及其法律后果】公司股东会或者股东大会、董事会的决议内容违反法律、行政法规的无效。

股东会或者股东大会、董事会的会议召集程序、表决方式违反法律、行政法规或者公司章程,或者决议内容违反公司章程的,股东可以自决议作出之日起六十日内,请求人民法院撤销。

股东依照前款规定提起诉讼的,人民法院可以应公司的请求,要求股东提供相应担保。

公司根据股东会或者股东大会、董事会决议已办理变更登记的,人民法院宣告该决议无效或者撤销该决议后,公司应当向公司登记机关申请撤销变更登记。

第二章 有限责任公司的设立和组织机构

第二十三条 【有限责任公司的设立条件】设立有限责任公司,应当具备下列条件:

(一)股东符合法定人数;

(二)股东出资达到法定资本最低限额;

(三)股东共同制定公司章程;

(四)有公司名称,建立符合有限责任公司要求的组织机构;

(五)有公司住所。

第二十四条 【有限责任公司的股东人数限制】有限责任公司由五十个以下股东出资设立。

第二十五条 【有限责任公司章程的法定事项】有限责任公司章程应当载明下列事项:

(一)公司名称和住所;

(二)公司经营范围;

(三)公司注册资本;

(四)股东的姓名或者名称;

(五)股东的出资方式、出资额和出资时间;

(六)公司的机构及其产生办法、职权、议事规则;

(七)公司法定代表人;

(八)股东会会议认为需要规定的其他事项。

股东应当在公司章程上签名、盖章。

第二十六条 【有限责任公司的注册资本及其最低限额】有限责任公司的注册资本为在公司登记机关登记的全体股东认缴的出资额。公司全体股东的首次出资额不得低于注册资本的百分之二十,也不得低于法定的注册资本最低限额,其余部分由股东自公司成立之日起两年内缴足;其中,投资公司可以在五年内缴足。

有限责任公司注册资本的最低限额为人民币三万元。法律、行政法规对有限责任公司注册资本的最低限额有较高规定的,从其规定。

第二十七条 【股东出资方式、出资评估及其限制】股东可以用货币出资,也可以用实物、知识产权、土地使用权等可以用货币估价并可以依法转让的非货币财产作价出资;但是,法律、行政法规规定不得作为出资的财产除外。

对作为出资的非货币财产应当评估作价,核实财产,不得高估或者低估作价。法律、行政法规对评估作价有规定的,从其规定。

全体股东的货币出资金额不得低于有限责任公司注册资本的百分之三十。

第二十八条 【股东出资义务的履行和出资违约】股东应当按期足额缴纳公司章程中规定的各自所认缴的出资额。股东以货币出资的,应当将货币出资足额存入有限责任公司在银行开设的账户;以非货币财产出资的,应当依法办理其财产权的转移手续。

股东不按照前款规定缴纳出资的,除应当向公司足额缴纳外,还应当向已按期足额缴纳出资的股东承担违约责任。

第二十九条 【股东出资的验资证明】股东缴纳出资后,必须经依法设立的验资机构验资并出具证明。

第三十条 【有限责任公司的设立登记】股东的首次出资经依法设立的验资机构验资后,由全体股东指定的代表或者共同委托的代理人向公司登记机关报送公司登记申请书、公司章程、验资证明等文件,申请设立登记。

第三十一条 【非货币财产出资违约责任】有限责任公司成立后,发现作为设立公司出资的非货币财产的实际价额显著低于公司章程所定价额的,应当由交付该出资的股东补足其差额;公司设立时的其他股东承担连带责任。

第三十二条 【股东出资证明书】有限责任公司成立后,应当向股东签发出资证明书。

出资证明书应当载明下列事项:

(一)公司名称;

(二)公司成立日期;

(三)公司注册资本;

(四)股东的姓名或者名称、缴纳的出资额和出资日期;

(五)出资证明书的编号和核发日期。

出资证明书由公司盖章。

第三十三条 【股东名册】有限责任公司应当置备股东名册,记载下列事项:

(一)股东的姓名或者名称及住所;

(二)股东的出资额;

(三)出资证明书编号。

记载于股东名册的股东,可以依股东名册主张行使股东权利。

公司应当将股东的姓名或者名称及其出资额向公司登记机关登记;登记事项发生变更的,应当办理变更登记。未经登记或者变更登记的,不得对抗第三人。

第三十四条 【股东的查阅权】股东有权查阅、复制公司章程、股东会会议记录、董事会会议决议、监事会会议决议和财务会计报告。

股东可以要求查阅公司会计账簿。股东要求查阅公司会计账簿的,应当向公司提出书面请求,说明目的。公司有合理根据认为股东查阅会计账簿有不正当目的,可能损害公司合法利益的,可以拒绝提供查阅,并应当自股东提出书面请求之日起十五日内书面答复股东并说明理由。公司拒绝提供查阅的,股东可以请求人民法院要求公司提供查阅。

第三十五条 【股东分红权和优先认购权】股东按照实缴的出资比例分取红利;公司新增资本时,股东有权优先按照实缴的出资比例认缴出资。但是,全体股东约定不按照出资比例分取红利或者不按照出资比例优先认缴出资的除外。

第三十六条 【股东不得抽回出资】公司成立后,股东不得抽逃出资。

第二节 组织机构

第三十七条 【股东会】有限责任公司股东会由全体股东组成。股东会是公司的权力机构,依照本法行使职权。

第三十八条 【股东会的职权】股东会行使下列职权:

(一)决定公司的经营方针和投资计划;

(二)选举和更换非由职工代表担任的董事、监事,决定有关董事、监事的报酬事项;

(三)审议批准董事会的报告;

(四)审议批准监事会或者监事的报告;

(五)审议批准公司的年度财务预算方案、决算方案;

(六)审议批准公司的利润分配方案和弥补亏损方案;

(七)对公司增加或者减少注册资本作出决议;

(八)对发行公司债券作出决议;

(九)对公司合并、分立、解散、清算或者变更公司形式作出决议;

(十)修改公司章程;

(十一)公司章程规定的其他职权。

对前款所列事项股东以书面形式一致表示同意的,可以不召开股东会会议,直接作出决定,并由全体股东在决定文件上签名、盖章。

第三十九条 【股东会的首次会议】首次股东会会议由出资最多的股东召集和主持,依照本法规定行使职权。

第四十条 【股东会的会议制度】股东会会议分为定期会议和临时会议。

定期会议应当依照公司章程的规定按时召开。代表十分之一以上表决权的股东,三分之一以上的董事,监事会或者不设监事会的公司的监事提议召开临时会议的,应当召开临时会议。

第四十一条 【股东会会议的召集与组织】有限责任公司设立董事会的,股东会会议由董事会召集,董事长主持;董事长不能履行职务或者不履行职务的,由副董事长主持;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事主持。

有限责任公司不设董事会的,股东会会议由执行董事召集和主持。

董事会或者执行董事不能履行或者不履行召集股东会会议职责的,由监事会或者不设监事会的公司的监事召集和主持;监事会或者监事不召集和主持的,代表十分之一以上表决权的股东可以自行召集和主持。

第四十二条 【股东会会议的通知期限和会议记录】召开股东会会议,应当于会议召开十五日前通知全体股东;但是,公司章程另有规定或者全体股东另有约定的除外。

股东会应当对所议事项的决定作成会议记录,出席会议的股东应当在会议记录上签名。

第四十三条 【股东的表决权】股东会会议由股东按照出资比例行使表决权;但是,公司章程另有规定的除外。

第四十四条 【股东会的议事方式和表决程序】股东会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

股东会会议作出修改公司章程、增加或者减少注册资本的决议,以及公司合并、分立、解散或者变更公司形式的决议,必须经代表三分之二以上表决权的股东通过。

第四十五条 【董事会及其成员构成及董事长法律地位】有限责任公司设董事会,其成员为三人至十三人;但是,本法第五十一条另有规定的除外。

两个以上的国有企业或者两个以上的其他国有投资主体投资设立的有限责任公司,其董事会成员中应当有公司职工代表;其他有限责任公司董事会成员中可以有公司职工代表。董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

董事会设董事长一人,可以设副董事长。董事长、副董事长的产生办法由公司章程规定。

第四十六条 【董事的任职期限】董事任期由公司章程规定,但每届任期不得超过三年。董事任期届满,连选可以连任。

董事任期届满未及时改选,或者董事在任期内辞职导致董事会成员低于法定人数的,在改选出的董事就任前,原董事仍应当依照法律、行政法规和公司章程的规定,履行董事职务。

第四十七条 【董事会的职权】董事会对股东会负责,行使下列职权:

(一)召集股东会会议,并向股东会报告工作;

(二)执行股东会的决议;

(三)决定公司的经营计划和投资方案;

(四)制订公司的年度财务预算方案、决算方案;

(五)制订公司的利润分配方案和弥补亏损方案;

(六)制订公司增加或者减少注册资本以及发行公司债券的方案;

(七)制订公司合并、分立、解散或者变更公司形式的方案;

(八)决定公司内部管理机构的设置;

(九)决定聘任或者解聘公司经理及其报酬事项,并根据经理的提名决定聘任或者解聘公司副经理、财务负责人及其报酬事项;

(十)制定公司的基本管理制度;

(十一)公司章程规定的其他职权。

第四十八条 【董事会会议的召集和主持】董事会会议由董事长召集和主持;董事长不能履行职务或者不履行职务的,由副董事长召集和主持;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事召集和主持。

第四十九条 【董事会的议事方式和表决程序】董事会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

董事会应当对所议事项的决定作成会议记录,出席会议的董事应当在会议记录上签名。

董事会决议的表决,实行一人一票。

第五十条 【经理的职权】有限责任公司可以设经理,由董事会决定聘任或者解聘。经理对董事会负责,行使下列职权:

(一)主持公司的生产经营管理工作,组织实施董事会决议;

(二)组织实施公司年度经营计划和投资方案;

(三)拟订公司内部管理机构设置方案;

(四)拟订公司的基本管理制度;

(五)制定公司的具体规章;

(六)提请聘任或者解聘公司副经理、财务负责人;

(七)决定聘任或者解聘除应由董事会决定聘任或者解聘以外的负责管理人员;

(八)董事会授予的其他职权。

公司章程对经理职权另有规定的,从其规定。

经理列席董事会会议。

第五十一条 【执行董事】股东人数较少或者规模较小的有限责任公司,可以设一名执行董事,不设董事会。执行董事可以兼任公司经理。

执行董事的职权由公司章程规定。

第五十二条 【监事会和监事】有限责任公司设监事会,其成员不得少于三人。股东人数较少或者规模较小的有限责任公司,可以设一至二名监事,不设监事会。

监事会应当包括股东代表和适当比例的公司职工代表,其中职工代表的比例不得低于三分之一,具体比例由公司章程规定。监事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

监事会设主席一人,由全体监事过半数选举产生。监事会主席召集和主持监事会会议;监事会主席不能履行职务或者不履行职务的,由半数以上监事共同推举一名监事召集和主持监事会会议。

董事、高级管理人员不得兼任监事。

第五十三条 【监事的任职期限】监事的任期每届为三年。监事任期届满,连选可以连任。

监事任期届满未及时改选,或者监事在任期内辞职导致监事会成员低于法定人数的,在改选出的监事就任前,原监事仍应当依照法律、行政法规和公司章程的规定,履行监事职务。

第五十四条 【监事会或监事的一般职权】监事会、不设监事会的公司的监事行使下列职权:

(一)检查公司财务;

(二)对董事、高级管理人员执行公司职务的行为进行监督,对违反法律、行政法规、公司章程或者股东会决议的董事、高级管理人员提出罢免的建议;

(三)当董事、高级管理人员的行为损害公司的利益时,要求董事、高级管理人员予以纠正;

(四)提议召开临时股东会会议,在董事会不履行本法规定的召集和主持股东会会议职责时召集和主持股东会会议;

(五)向股东会会议提出提案;

(六)依照本法第一百五十二条的规定,对董事、高级管理人员提起诉讼;

(七)公司章程规定的其他职权。

第五十五条 【监事的质询建议权与调查权】监事可以列席董事会会议,并对董事会决议事项提出质询或者建议。

监事会、不设监事会的公司的监事发现公司经营情况异常,可以进行调查;必要时,可以聘请会计师事务所等协助其工作,费用由公司承担。

第五十六条 【监事会会议】监事会每年度至少召开一次会议,监事可以提议召开临时监事会会议。

监事会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

监事会决议应当经半数以上监事通过。

监事会应当对所议事项的决定作成会议记录,出席会议的监事应当在会议记录上签名。

第五十七条 【监事行使职权的费用承担】监事会、不设监事会的公司的监事行使职权所必需的费用,由公司承担。

第三节 一人有限责任公司的特别规定

第五十八条 【一人有限责任公司的定义、设立、组织机构】一人有限责任公司的设立和组织机构,适用本节规定;本节没有规定的,适用本章第一节、第二节的规定。

本法所称一人有限责任公司,是指只有一个自然人股东或者一个法人股东的有限责任公司。

第五十九条 【一人有限责任公司的投资限制与注册资本最低限额】一人有限责任公司的注册资本最低限额为人民币十万元。股东应当一次足额缴纳公司章程规定的出资额。

一个自然人只能投资设立一个一人有限责任公司。该一人有限责任公司不能投资设立新的一人有限责任公司。

第六十条 【公司登记与营业执照中的投资者身份注明】一人有限责任公司应当在公司登记中注明自然人独资或者法人独资,并在公司营业执照中载明。

第六十一条 【一人有限责任公司的章程】一人有限责任公司章程由股东制定。

第六十二条 【股东决定重大事项的书面形式要求】一人有限责任公司不设股东会。股东作出本法第三十八条第一款所列决定时,应当采用书面形式,并由股东签名后置备于公司。

第六十三条 【年度审计】一人有限责任公司应当在每一会计年度终了时编制财务会计报告,并经会计师事务所审计。

第六十四条 【股东对公司债务的连带责任】一人有限责任公司的股东不能证明公司财产独立于股东自己的财产的,应当对公司债务承担连带责任。

第四节 国有独资公司的特别规定

第六十五条 【国有独资公司的定义】国有独资公司的设立和组织机构,适用本节规定;本节没有规定的,适用本章第一节、第二节的规定。

本法所称国有独资公司,是指国家单独出资、由国务院或者地方人民政府授权本级人民政府国有资产监督管理机构履行出资人职责的有限责任公司。

第六十六条 【国有独资公司章程的制定或批准】国有独资公司章程由国有资产监督管理机构制定,或者由董事会制订报国有资产监督管理机构批准。

第六十七条 【国有独资公司重大事项的决定】国有独资公司不设股东会,由国有资产监督管理机构行使股东会职权。国有资产监督管理机构可以授权公司董事会行使股东会的部分职权,决定公司的重大事项,但公司的合并、分立、解散、增加或者减少注册资本和发行公司债券,必须由国有资产监督管理机构决定;其中,重要的国有独资公司合并、分立、解散、申请破产的,应当由国有资产监督管理机构审核后,报本级人民政府批准。

前款所称重要的国有独资公司,按照国务院的规定确定。

第六十八条 【国有独资公司的董事会】国有独资公司设董事会,依照本法第四十七条、第六十七条的规定行使职权。董事每届任期不得超过三年。董事会成员中应当有公司职工代表。

董事会成员由国有资产监督管理机构委派;但是,董事会成员中的职工代表由公司职工代表大会选举产生。

董事会设董事长一人,可以设副董事长。董事长、副董事长由国有资产监督管理机构从董事会成员中指定。

第六十九条 【国有独资公司经理】国有独资公司设经理,由董事会聘任或者解聘。经理依照本法第五十条规定行使职权。

经国有资产监督管理机构同意,董事会成员可以兼任经理。

第七十条 【高级职员的兼职禁止】国有独资公司的董事长、副董事长、董事、高级管理人员,未经国有资产监督管理机构同意,不得在其他有限责任公司、股份有限公司或者其他经济组织兼职。

第七十一条 【国有独资公司的监督管理】国有独资公司监事会成员不得少于五人,其中职工代表的比例不得低于三分之一,具体比例由公司章程规定。

监事会成员由国有资产监督管理机构委派;但是,监事会成员中的职工代表由公司职工代表大会选举产生。监事会主席由国有资产监督管理机构从监事会成员中指定。

监事会行使本法第五十四条第(一)项至第(三)项规定的职权和国务院规定的其他职权。

第三章 有限责任公司的股权转让

第七十二条 【股权转让的一般规定】有限责任公司的股东之间可以相互转让其全部或者部分股权。

股东向股东以外的人转让股权,应当经其他股东过半数同意。股东应就其股权转让事项书面通知其他股东征求同意,其他股东自接到书面通知之日起满三十日未答复的,视为同意转让。其他股东半数以上不同意转让的,不同意的股东应当购买该转让的股权;不购买的,视为同意转让。

经股东同意转让的股权,在同等条件下,其他股东有优先购买权。两个以上股东主张行使优先购买权的,协商确定各自的购买比例;协商不成的,按照转让时各自的出资比例行使优先购买权。

公司章程对股权转让另有规定的,从其规定。

第七十三条 【强制执行程序下的股权转让】人民法院依照法律规定的强制执行程序转让股东的股权时,应当通知公司及全体股东,其他股东在同等条件下有优先购买权。其他股东自人民法院通知之日起满二十日不行使优先购买权的,视为放弃优先购买权。

第七十四条 【股权转让对出资证明书、公司章程和股东名册的影响】依照本法第七十二条、第七十三条转让股权后,公司应当注销原股东的出资证明书,向新股东签发出资证明书,并相应修改公司章程和股东名册中有关股东及其出资额的记载。对公司章程的该项修改不需再由股东会表决。

第七十五条 【异议股东请求公司收购股权的情形】有下列情形之一的,对股东会该项决议投反对票的股东可以请求公司按照合理的价格收购其股权:

(一)公司连续五年不向股东分配利润,而公司该五年连续盈利,并且符合本法规定的分配利润条件的;

(二)公司合并、分立、转让主要财产的;

(三)公司章程规定的营业期限届满或者章程规定的其他解散事由出现,股东会会议通过决议修改章程使公司存续的。

自股东会会议决议通过之日起六十日内,股东与公司不能达成股权收购协议的,股东可以自股东会会议决议通过之日起九十日内向人民法院提起诉讼。

第七十六条 【股东资格的继承】自然人股东死亡后,其合法继承人可以继承股东资格;但是,公司章程另有规定的除外。

第四章 股份有限公司的设立和组织机构

第一节 设立

第七十七条 【设立条件】设立股份有限公司,应当具备下列条件:

(一)发起人符合法定人数;

(二)发起人认购和募集的股本达到法定资本最低限额;

(三)股份发行、筹办事项符合法律规定;

(四)发起人制订公司章程,采用募集方式设立的经创立大会通过;

(五)有公司名称,建立符合股份有限公司要求的组织机构;

(六)有公司住所。

第七十八条 【设立方式】股份有限公司的设立,可以采取发起设立或者募集设立的方式。

发起设立,是指由发起人认购公司应发行的全部股份而设立公司。

募集设立,是指由发起人认购公司应发行股份的一部分,其余股份向社会公开募集或者向特定对象募集而设立公司。

第七十九条 【设立发起人的限制】设立股份有限公司,应当有二人以上二百人以下为发起人,其中须有半数以上的发起人在中国境内有住所。

第八十条 【发起人筹办公司的义务】股份有限公司发起人承担公司筹办事务。

发起人应当签订发起人协议,明确各自在公司设立过程中的权利和义务。

第八十一条 【注册资本与发起人的出资限额】股份有限公司采取发起设立方式设立的,注册资本为在公司登记机关登记的全体发起人认购的股本总额。公司全体发起人的首次出资额不得低于注册资本的百分之二十,其余部分由发起人自公司成立之日起两年内缴足;其中,投资公司可以在五年内缴足。在缴足前,不得向他人募集股份。

股份有限公司采取募集方式设立的,注册资本为在公司登记机关登记的实收股本总额。

股份有限公司注册资本的最低限额为人民币五百万元。法律、行政法规对股份有限公司注册资本的最低限额有较高规定的,从其规定。

第八十二条 【股份有限公司章程的法定事项】股份有限公司章程应当载明下列事项:

(一)公司名称和住所;

(二)公司经营范围;

(三)公司设立方式;

(四)公司股份总数、每股金额和注册资本;

(五)发起人的姓名或者名称、认购的股份数、出资方式和出资时间;

(六)董事会的组成、职权和议事规则;

(七)公司法定代表人;

(八)监事会的组成、职权和议事规则;

(九)公司利润分配办法;

(十)公司的解散事由与清算办法;

(十一)公司的通知和公告办法;

(十二)股东大会会议认为需要规定的其他事项。

第八十三条 【发起人的出资方式要求】发起人的出资方式,适用本法第二十七条的规定。

第八十四条 【发起人出资义务的履行、出资违约及设立登记申请】以发起设立方式设立股份有限公司的,发起人应当书面认足公司章程规定其认购的股份;一次缴纳的,应即缴纳全部出资;分期缴纳的,应即缴纳首期出资。以非货币财产出资的,应当依法办理其财产权的转移手续。

发起人不依照前款规定缴纳出资的,应当按照发起人协议承担违约责任。

发起人首次缴纳出资后,应当选举董事会和监事会,由董事会向公司登记机关报送公司章程、由依法设定的验资机构出具的验资证明以及法律、行政法规规定的其他文件,申请设立登记。

第八十五条 【对募集设立发起人认购股份的要求】以募集设立方式设立股份有限公司的,发起人认购的股份不得少于公司股份总数的百分之三十五;但是,法律、行政法规另有规定的,从其规定。

第八十六条 【募集股份公告和认股书内容】发起人向社会公开募集股份,必须公告招股说明书,并制作认股书。认股书应当载明本法第八十七条所列事项,由认股人填写认购股数、金额、住所,并签名、盖章。认股人按照所认购股数缴纳股款。

第八十七条 【招股说明书的主要内容】招股说明书应当附有发起人制订的公司章程,并载明下列事项:

(一)发起人认购的股份数;

(二)每股的票面金额和发行价格;

(三)无记名股票的发行总数;

(四)募集资金的用途;

(五)认股人的权利、义务;

(六)本次募股的起止期限及逾期未募足时认股人可以撤回所认股份的说明。

第八十八条 【发起人向社会募集股份的方式】发起人向社会公开募集股份,应当由依法设立的证券公司承销,签订承销协议。

第八十九条 【缴纳股款方式】发起人向社会公开募集股份,应当同银行签订代收股款协议。

代收股款的银行应当按照协议代收和保存股款,向缴纳股款的认股人出具收款单据,并负有向有关部门出具收款证明的义务。

第九十条 【发起人召开公司创立大会的义务】发行股份的股款缴足后,必须经依法设立的验资机构验资并出具证明。发起人应当自股款缴足之日起三十日内主持召开公司创立大会。创立大会由发起人、认股人组成。

发行的股份超过招股说明书规定的截止期限尚未募足的,或者发行股份的股款缴足后,发起人在三十日内未召开创立大会的,认股人可以按照所缴股款并加算银行同期存款利息,要求发起人返还。

第九十一条 【创立大会的召集职权和表决程序】发起人应当在创立大会召开十五日前将会议日期通知各认股人或者予以公告。创立大会应有代表股份总数过半数的发起人、认股人出席,方可举行。

创立大会行使下列职权:

(一)审议发起人关于公司筹办情况的报告;

(二)通过公司章程;

(三)选举董事会成员;

(四)选举监事会成员;

(五)对公司的设立费用进行审核;

(六)对发起人用于抵作股款的财产的作价进行审核;

(七)发生不可抗力或者经营条件发生重大变化直接影响公司设立的,可以作出不设立公司的决议。

创立大会对前款所列事项作出决议,必须经出席会议的认股人所持表决权过半数通过。

第九十二条 【股本抽回的限制】发起人、认股人缴纳股款或者交付抵作股款的出资后,除未按期募足股份、发起人未按期召开创立大会或者创立大会决议不设立公司的情形外,不得抽回其股本。

第九十三条 【申请设立登记文件】董事会应于创立大会结束后三十日内,向公司登记机关报送下列文件,申请设立登记:

(一)公司登记申请书;

(二)创立大会的会议记录;

(三)公司章程;

(四)验资证明;

(五)法定代表人、董事、监事的任职文件及其身份证明;

(六)发起人的法人资格证明或者自然人身份证明;

(七)公司住所证明。

以募集方式设立股份有限公司公开发行股票的,还应当向公司登记机关报送国务院证券监督管理机构的核准文件。

第九十四条 【发起人的出资补缴责任】股份有限公司成立后,发起人未按照公司章程的规定缴足出资的,应当补缴;其他发起人承担连带责任。

股份有限公司成立后,发现作为设立公司出资的非货币财产的实际价额显著低于公司章程所定价额的,应当由交付该出资的发起人补足其差额;其他发起人承担连带责任。

第九十五条 【公司设立过程中的发起人责任】股份有限公司的发起人应当承担下列责任:

(一)公司不能成立时,对设立行为所产生的债务和费用负连带责任;

(二)公司不能成立时,对认股人已缴纳的股款,负返还股款并加算银行同期存款利息的连带责任;

(三)在公司设立过程中,由于发起人的过失致使公司利益受到损害的,应当对公司承担赔偿责任。

第九十六条 【有限责任公司变更为股份有限公司的资产额要求及募股要求】有限责任公司变更为股份有限公司时,折合的实收股本总额不得高于公司净资产额。有限责任公司变更为股份有限公司,为增加资本公开发行股份时,应当依法办理。

第九十七条 【重要资料的置备】股份有限公司应当将公司章程、股东名册、公司债券存根、股东大会会议记录、董事会会议记录、监事会会议记录、财务会计报告置备于本公司。

第九十八条 【股东的查阅权与建议质询权】股东有权查阅公司章程、股东名册、公司债券存根、股东大会会议记录、董事会会议决议、监事会会议决议、财务会计报告,对公司的经营提出建议或者质询。

第二节 股东大会

第九十九条 【股东大会的地位与组成】股份有限公司股东大会由全体股东组成。股东大会是公司的权力机构,依照本法行使职权。

第一百条 【股东大会的职权】本法第三十八条第一款关于有限责任公司股东会职权的规定,适用于股份有限公司股东大会。

第一百零一条 【股东大会及临时股东大会的召开】股东大会应当每年召开一次年会。有下列情形之一的,应当在两个月内召开临时股东大会:

(一)董事人数不足本法规定人数或者公司章程所定人数的三分之二时;

(二)公司未弥补的亏损达实收股本总额三分之一时;

(三)单独或者合计持有公司百分之十以上股份的股东请求时;

(四)董事会认为必要时;

(五)监事会提议召开时;

(六)公司章程规定的其他情形。

第一百零二条 【股东大会的召集】股东大会会议由董事会召集,董事长主持;董事长不能履行职务或者不履行职务的,由副董事长主持;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事主持。

董事会不能履行或者不履行召集股东大会会议职责的,监事会应当及时召集和主持;监事会不召集和主持的,连续九十日以上单独或者合计持有公司百分之十以上股份的股东可以自行召集和主持。

第一百零三条 【股东大会的通知期限、临时议案和股票交存制度】召开股东大会会议,应当将会议召开的时间、地点和审议的事项于会议召开二十日前通知各股东;临时股东大会应当于会议召开十五日前通知各股东;发行无记名股票的,应当于会议召开三十日前公告会议召开的时间、地点和审议事项。

单独或者合计持有公司百分之三以上股份的股东,可以在股东大会召开十日前提出临时提案并书面提交董事会;董事会应当在收到提案后二日内通知其他股东,并将该临时提案提交股东大会审议。临时提案的内容应当属于股东大会职权范围,并有明确议题和具体决议事项。

股东大会不得对前两款通知中未列明的事项作出决议。

无记名股票持有人出席股东大会会议的,应当于会议召开五日前至股东大会闭会时将股票交存于公司。

第一百零四条 【表决权与股东大会议事规则】股东出席股东大会会议,所持每一股份有一表决权。但是,公司持有的本公司股份没有表决权。

股东大会作出决议,必须经出席会议的股东所持表决权过半数通过。但是,股东大会作出修改公司章程、增加或者减少注册资本的决议,以及公司合并、分立、解散或者变更公司形式的决议,必须经出席会议的股东所持表决权的三分之二以上通过。

第一百零五条 【股东大会的法定召集及表决事项】本法和公司章程规定公司转让、受让重大资产或者对外提供担保等事项必须经股东大会作出决议的,董事会应当及时召集股东大会会议,由股东大会就上述事项进行表决。

第一百零六条 【累积投票制】股东大会选举董事、监事,可以依照公司章程的规定或者股东大会的决议,实行累积投票制。

本法所称累积投票制,是指股东大会选举董事或者监事时,每一股份拥有与应选董事或者监事人数相同的表决权,股东拥有的表决权可以集中使用。

第一百零七条 【表决权的代理行使】股东可以委托代理人出席股东大会会议,代理人应当向公司提交股东授权委托书,并在授权范围内行使表决权。

第一百零八条 【股东大会的会议记录】股东大会应当对所议事项的决定作成会议记录,主持人、出席会议的董事应当在会议记录上签名。会议记录应当与出席股东的签名册及代理出席的委托书一并保存。

第三节 董事会、经理

第一百零九条 【董事会设立及其职权】股份有限公司设董事会,其成员为五人至十九人。

董事会成员中可以有公司职工代表。董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

本法第四十六条关于有限责任公司董事任期的规定,适用于股份有限公司董事。

本法第四十七条关于有限责任公司董事会职权的规定,适用于股份有限公司董事会。

第一百一十条 【董事会的组成】董事会设董事长一人,可以设副董事长。董事长和副董事长由董事会以全体董事的过半数选举产生。

董事长召集和主持董事会会议,检查董事会决议的实施情况。副董事长协助董事长工作,董事长不能履行职务或者不履行职务的,由副董事长履行职务;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事履行职务。

第一百一十一条 【董事会的召开】董事会每年度至少召开两次会议,每次会议应当于会议召开十日前通知全体董事和监事。

代表十分之一以上表决权的股东、三分之一以上董事或者监事会,可以提议召开董事会临时会议。董事长应当自接到提议后十日内,召集和主持董事会会议。

董事会召开临时会议,可以另定召集董事会的通知方式和通知时限。

第一百一十二条 【董事会的议事规则】董事会会议应有过半数的董事出席方可举行。董事会作出决议,必须经全体董事的过半数通过。

董事会决议的表决,实行一人一票。

第一百一十三条 【董事会的出席与代理出席、会议记录与责任承担】董事会会议,应由董事本人出席;董事因故不能出席,可以书面委托其他董事代为出席,委托书中应载明授权范围。

董事会应当对会议所议事项的决定作成会议记录,出席会议的董事应当在会议记录上签名。

董事应当对董事会的决议承担责任。董事会的决议违反法律、行政法规或者公司章程、股东大会决议,致使公司遭受严重损失的,参与决议的董事对公司负赔偿责任。但经证明在表决时曾表明异议并记载于会议记录的,该董事可以免除责任。

第一百一十四条 【经理及其职权】股份有限公司设经理,由董事会决定聘任或者解聘。

本法第五十条关于有限责任公司经理职权的规定,适用于股份有限公司经理。

第一百一十五条 【董事会成员兼任经理】公司董事会可以决定由董事会成员兼任经理。

第一百一十六条 【禁止向高级职员提供借款】公司不得直接或者通过子公司向董事、监事、高级管理人员提供借款。

第一百一十七条 【定期披露高级职员报酬】公司应当定期向股东披露董事、监事、高级管理人员从公司获得报酬的情况。

第四节 监事会

第一百一十八条 【监事会的设立与组成】股份有限公司设监事会,其成员不得少于三人。

监事会应当包括股东代表和适当比例的公司职工代表,其中职工代表的比例不得低于三分之一,具体比例由公司章程规定。监事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

监事会设主席一人,可以设副主席。监事会主席和副主席由全体监事过半数选举产生。监事会主席召集和主持监事会会议;监事会主席不能履行职务或者不履行职务的,由监事会副主席召集和主持监事会会议;监事会副主席不能履行职务或者不履行职务的,由半数以上监事共同推举一名监事召集和主持监事会会议。

董事、高级管理人员不得兼任监事。

本法第五十三条关于有限责任公司监事任期的规定,适用于股份有限公司监事。

第一百一十九条 【监事会的职权】本法第五十四条、第五十五条关于有限责任公司监事会职权的规定,适用于股份有限公司监事会。

监事会行使职权所必需的费用,由公司承担。

第一百二十条 【监事会的会议制度】监事会每六个月至少召开一次会议。监事可以提议召开临时监事会会议。

监事会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

监事会决议应当经半数以上监事通过。

监事会应当对所议事项的决定作成会议记录,出席会议的监事应当在会议记录上签名。

第五节 上市公司组织机构的特别规定

第一百二十一条 【上市公司的定义】本法所称上市公司,是指其股票在证券交易所上市交易的股份有限公司。

第一百二十二条 【重大资产买卖与重要担保的议事规则】上市公司在一年内购买、出售重大资产或者担保金额超过公司资产总额百分之三十的,应当由股东大会作出决议,并经出席会议的股东所持表决权的三分之二以上通过。

第一百二十三条 【独立董事的设立】上市公司设立独立董事,具体办法由国务院规定。

第一百二十四条 【董事会秘书的设立及其职权】上市公司设董事会秘书,负责公司股东大会和董事会会议的筹备、文件保管以及公司股东资料的管理,办理信息披露事务等事宜。

第一百二十五条 【关联关系董事回避与相关事项议事规则】上市公司董事与董事会会议决议事项所涉及的企业有关联关系的,不得对该项决议行使表决权,也不得代理其他董事行使表决权。该董事会会议由过半数的无关联关系董事出席即可举行,董事会会议所作决议须经无关联关系董事过半数通过。出席董事会的无关联关系董事人数不足三人的,应将该事项提交上市公司股东大会审议。

第五章 股份有限公司的股份发行和转让

第一节 股份发行

第一百二十六条 【股份有限公司的股份及其形式】股份有限公司的资本划分为股份,每一股的金额相等。

公司的股份采取股票的形式。股票是公司签发的证明股东所持股份的凭证。

第一百二十七条 【股份有限公司股份发行的原则】股份的发行,实行公平、公正的原则,同种类的每一股份应当具有同等权利。

同次发行的同种类股票,每股的发行条件和价格应当相同;任何单位或者个人所认购的股份,每股应当支付相同价额。

第一百二十八条 【股票发行的价格】股票发行价格可以按票面金额,也可以超过票面金额,但不得低于票面金额。

第一百二十九条 【股票形式与应载明的事项】股票采用纸面形式或者国务院证券监督管理机构规定的其他形式。

股票应当载明下列主要事项:

(一)公司名称;

(二)公司成立日期;

(三)股票种类、票面金额及代表的股份数;

(四)股票的编号。

股票由法定代表人签名,公司盖章。

发起人的股票,应当标明发起人股票字样。

第一百三十条 【股票种类】公司发行的股票,可以为记名股票,也可以为无记名股票。

公司向发起人、法人发行的股票,应当为记名股票,并应当记载该发起人、法人的名称或者姓名,不得另立户名或者以代表人姓名记名。

第一百三十一条 【股东名册的置备及内容】公司发行记名股票的,应当置备股东名册,记载下列事项:

(一)股东的姓名或者名称及住所;

(二)各股东所持股份数;

(三)各股东所持股票的编号;

(四)各股东取得股份的日期。

发行无记名股票的,公司应当记载其股票数量、编号及发行日期。

第一百三十二条 【其他种类股票】国务院可以对公司发行本法规定以外的其他种类的股份,另行作出规定。

第一百三十三条 【向股东交付股票的时间】股份有限公司成立后,即向股东正式交付股票。公司成立前不得向股东交付股票。

第一百三十四条 【发行新股的决议事项】公司发行新股,股东大会应当对下列事项作出决议:

(一)新股种类及数额;

(二)新股发行价格;

(三)新股发行的起止日期;

(四)向原有股东发行新股的种类及数额。

第一百三十五条 【新股发行公告、募股方式及缴纳股款方式】公司经国务院证券监督管理机构核准公开发行新股时,必须公告新股招股说明书和财务会计报告,并制作认股书。

本法第八十八条、第八十九条的规定适用于公司公开发行新股。

第一百三十六条 【新股作价方案的确定】公司发行新股,可以根据公司经营情况和财务状况,确定其作价方案。

第一百三十七条 【新股募足后的变更登记及公告】公司发行新股募足股款后,必须向公司登记机关办理变更登记,并公告。

第二节 股份转让

第一百三十八条 【股份可依法转让】股东持有的股份可以依法转让。

第一百三十九条 【转让股份的场所】股东转让其股份,应当在依法设立的证券交易场所进行或者按照国务院规定的其他方式进行。

第一百四十条 【记名股票的转让】记名股票,由股东以背书方式或者法律、行政法规规定的其他方式转让;转让后由公司将受让人的姓名或者名称及住所记载于股东名册。

股东大会召开前二十日内或者公司决定分配股利的基准日前五日内,不得进行前款规定的股东名册的变更登记。但是,法律对上市公司股东名册变更登记另有规定的,从其规定。

第一百四十一条 【无记名股票的转让】无记名股票的转让,由股东将该股票交付给受让人后即发生转让的效力。

第一百四十二条 【转让本公司股份的限制】发起人持有的本公司股份,自公司成立之日起一年内不得转让。公司公开发行股份前已发行的股份,自公司股票在证券交易所上市交易之日起一年内不得转让。

公司董事、监事、高级管理人员应当向公司申报所持有的本公司的股份及其变动情况,在任职期间每年转让的股份不得超过其所持有本公司股份总数的百分之二十五;所持本公司股份自公司股票上市交易之日起一年内不得转让。上述人员离职后半年内,不得转让其所持有的本公司股份。公司章程可以对公司董事、监事、高级管理人员转让其所持有的本公司股份作出其他限制性规定。

第一百四十三条 【禁止收购本公司股份及其例外】公司不得收购本公司股份。但是,有下列情形之一的除外:

(一)减少公司注册资本;

(二)与持有本公司股份的其他公司合并;

(三)将股份奖励给本公司职工;

(四)股东因对股东大会作出的公司合并、分立决议持异议,要求公司收购其股份的。

公司因前款第(一)项至第(三)项的原因收购本公司股份的,应当经股东大会决议。公司依照前款规定收购本公司股份后,属于第(一)项情形的,应当自收购之日起十日内注销;属于第(二)项、第(四)项情形的,应当在六个月内转让或者注销。

公司依照第一款第(三)项规定收购的本公司股份,不得超过本公司已发行股份总额的百分之五;用于收购的资金应当从公司的税后利润中支出;所收购的股份应当在一年内转让给职工。

公司不得接受本公司的股票作为质押权的标的。

第一百四十四条 【公示催告程序】记名股票被盗、遗失或者灭失,股东可以依照《中华人民共和国民事诉讼法》规定的公示催告程序,请求人民法院宣告该股票失效。人民法院宣告该股票失效后,股东可以向公司申请补发股票。

第一百四十五条 【上市公司的股票交易】上市公司的股票,依照有关法律、行政法规及证券交易所交易规则上市交易。

第一百四十六条 【上市公司的信息披露公开制度】上市公司必须依照法律、行政法规的规定,公开其财务状况、经营情况及重大诉讼,在每会计年度内半年公布一次财务会计报告。

第六章 公司董事、监事、高级管理人员的资格和义务

第一百四十七条 【不得担任高级职员的情形】有下列情形之一的,不得担任公司的董事、监事、高级管理人员:

(一)无民事行为能力或者限制民事行为能力;

(二)因贪污、贿赂、侵占财产、挪用财产或者破坏社会主义市场经济秩序,被判处刑罚,执行期满未逾五年,或者因犯罪被剥夺政治权利,执行期满未逾五年;

(三)担任破产清算的公司、企业的董事或者厂长、经理,对该公司、企业的破产负有个人责任的,自该公司、企业破产清算完结之日起未逾三年;

(四)担任因违法被吊销营业执照、责令关闭的公司、企业的法定代表人,并负有个人责任的,自该公司、企业被吊销营业执照之日起未逾三年;

(五)个人所负数额较大的债务到期未清偿。

公司违反前款规定选举、委派董事、监事或者聘任高级管理人员的,该选举、委派或者聘任无效。

董事、监事、高级管理人员在任职期间出现本条第一款所列情形的,公司应当解除其职务。

第一百四十八条 【高级职员的一般义务】董事、监事、高级管理人员应当遵守法律、行政法规和公司章程,对公司负有忠实义务和勤勉义务。

董事、监事、高级管理人员不得利用职权收受贿赂或者其他非法收入,不得侵占公司的财产。

第一百四十九条 【高级职员的禁止行为】董事、高级管理人员不得有下列行为:

(一)挪用公司资金;

(二)将公司资金以其个人名义或者以其他个人名义开立账户存储;

(三)违反公司章程的规定,未经股东会、股东大会或者董事会同意,将公司资金借贷给他人或者以公司财产为他人提供担保;

(四)违反公司章程的规定或者未经股东会、股东大会同意,与本公司订立合同或者进行交易;

(五)未经股东会或者股东大会同意,利用职务便利为自己或者他人谋取属于公司的商业机会,自营或者为他人经营与所任职公司同类的业务;

(六)接受他人与公司交易的佣金归为己有;

(七)擅自披露公司秘密;

(八)违反对公司忠实义务的其他行为。

董事、高级管理人员违反前款规定所得的收入应当归公司所有。

第一百五十条 【高级职员对公司的赔偿责任】董事、监事、高级管理人员执行公司职务时违反法律、行政法规或者公司章程的规定,给公司造成损失的,应当承担赔偿责任。

第一百五十一条 【高级职员对股东会及监事会行使知情权的配合】股东会或者股东大会要求董事、监事、高级管理人员列席会议的,董事、监事、高级管理人员应当列席并接受股东的质询。

董事、高级管理人员应当如实向监事会或者不设监事会的有限责任公司的监事提供有关情况和资料,不得妨碍监事会或者监事行使职权。

第一百五十二条 【股东维护公司利益的起诉权】董事、高级管理人员有本法第一百五十条规定的情形的,有限责任公司的股东、股份有限公司连续一百八十日以上单独或者合计持有公司百分之一以上股份的股东,可以书面请求监事会或者不设监事会的有限责任公司的监事向人民法院提起诉讼;监事有本法第一百五十条规定的情形的,前述股东可以书面请求董事会或者不设董事会的有限责任公司的执行董事向人民法院提起诉讼。

监事会、不设监事会的有限责任公司的监事,或者董事会、执行董事收到前款规定的股东书面请求后拒绝提起诉讼,或者自收到请求之日起三十日内未提起诉讼,或者情况紧急、不立即提起诉讼将会使公司利益受到难以弥补的损害的,前款规定的股东有权为了公司的利益以自己的名义直接向人民法院提起诉讼。

他人侵犯公司合法权益,给公司造成损失的,本条第一款规定的股东可以依照前两款的规定向人民法院提起诉讼。

第一百五十三条 【股东与监事维护个人利益的起诉权】董事、高级管理人员违反法律、行政法规或者公司章程的规定,损害股东利益的,股东可以向人民法院提起诉讼。

第七章 公司债券

第一百五十四条 【公司债券的定义及发行条件】本法所称公司债券,是指公司依照法定程序发行、约定在一定期限还本付息的有价证券。

公司发行公司债券应当符合《中华人民共和国证券法》规定的发行条件。

第一百五十五条 【公司债券募集的核准和公告】发行公司债券的申请经国务院授权的部门核准后,应当公告公司债券募集办法。

公司债券募集办法中应当载明下列主要事项:

(一)公司名称;

(二)债券募集资金的用途;

(三)债券总额和债券的票面金额;

(四)债券利率的确定方式;

(五)还本付息的期限和方式;

(六)债券担保情况;

(七)债券的发行价格、发行的起止日期;

(八)公司净资产额;

(九)已发行的尚未到期的公司债券总额;

(十)公司债券的承销机构。

第一百五十六条 【公司债券票面必须载明的事项】公司以实物券方式发行公司债券的,必须在债券上载明公司名称、债券票面金额、利率、偿还期限等事项,并由法定代表人签名,公司盖章。

第一百五十七条 【债券的种类】公司债券,可以为记名债券,也可以为无记名债券。

第一百五十八条 【债券存根簿的置备及其应载明的事项】公司发行公司债券应当置备公司债券存根簿。

发行记名公司债券的,应当在公司债券存根簿上载明下列事项:

(一)债券持有人的姓名或者名称及住所;

(二)债券持有人取得债券的日期及债券的编号;

(三)债券总额,债券的票面金额、利率、还本付息的期限和方式;

(四)债券的发行日期。

发行无记名公司债券的,应当在公司债券存根簿上载明债券总额、利率、偿还期限和方式、发行日期及债券的编号。

第一百五十九条 【债券登记结算机构的制度要求】记名公司债券的登记结算机构应当建立债券登记、存管、付息、兑付等相关制度。

第一百六十条 【公司债券的转让场所与转让价格】公司债券可以转让,转让价格由转让人与受让人约定。

公司债券在证券交易所上市交易的,按照证券交易所的交易规则转让。

第一百六十一条 【公司债券的转让方式】记名公司债券,由债券持有人以背书方式或者法律、行政法规规定的其他方式转让;转让后由公司将受让人的姓名或者名称及住所记载于公司债券存根簿。

无记名公司债券的转让,由债券持有人将该债券交付给受让人后即发生转让的效力。

第一百六十二条 【可转换债券的发行及载明事项】上市公司经股东大会决议可以发行可转换为股票的公司债券,并在公司债券募集办法中规定具体的转换办法。上市公司发行可转换为股票的公司债券,应当报国务院证券监督管理机构核准。

发行可转换为股票的公司债券,应当在债券上标明可转换公司债券字样,并在公司债券存根簿上载明可转换公司债券的数额。

第一百六十三条 【可转换债券的转换】发行可转换为股票的公司债券的,公司应当按照其转换办法向债券持有人换发股票,但债券持有人对转换股票或者不转换股票有选择权。

第八章 公司财务、会计

第一百六十四条 【公司财务、会计制度的建立】公司应当依照法律、行政法规和国务院财政部门的规定建立本公司的财务、会计制度。

第一百六十五条 【财务会计报告的制作和年审制】公司应当在每一会计年度终了时编制财务会计报告,并依法经会计师事务所审计。

财务会计报告应当依照法律、行政法规和国务院财政部门的规定制作。

第一百六十六条 【财务会计报告送交股东及公告】有限责任公司应当依照公司章程规定的期限将财务会计报告送交各股东。

股份有限公司的财务会计报告应当在召开股东大会年会的二十日前置备于本公司,供股东查阅;公开发行股票的股份有限公司必须公告其财务会计报告。

第一百六十七条 【公司税后利润的分配】公司分配当年税后利润时,应当提取利润的百分之十列入公司法定公积金。公司法定公积金累计额为公司注册资本的百分之五十以上的,可以不再提取。

公司的法定公积金不足以弥补以前年度亏损的,在依照前款规定提取法定公积金之前,应当先用当年利润弥补亏损。

公司从税后利润中提取法定公积金后,经股东会或者股东大会决议,还可以从税后利润中提取任意公积金。

公司弥补亏损和提取公积金后所余税后利润,有限责任公司依照本法第三十五条的规定分配;股份有限公司按照股东持有的股份比例分配,但股份有限公司章程规定不按持股比例分配的除外。

股东会、股东大会或者董事会违反前款规定,在公司弥补亏损和提取法定公积金之前向股东分配利润的,股东必须将违反规定分配的利润退还公司。

公司持有的本公司股份不得分配利润。

第一百六十八条 【资本公积金】股份有限公司以超过股票票面金额的发行价格发行股份所得的溢价款以及国务院财政部门规定列入资本公积金的其他收入,应当列为公司资本公积金。

第一百六十九条 【公积金的用途及限制】公司的公积金用于弥补公司的亏损、扩大公司生产经营或者转为增加公司资本。但是,资本公积金不得用于弥补公司的亏损。

法定公积金转为资本时,所留存的该项公积金不得少于转增前公司注册资本的百分之二十五。

第一百七十条 【公司对会计师事务所的聘用及解聘】公司聘用、解聘承办公司审计业务的会计师事务所,依照公司章程的规定,由股东会、股东大会或者董事会决定。

公司股东会、股东大会或者董事会就解聘会计师事务所进行表决时,应当允许会计师事务所陈述意见。

第一百七十一条 【公司对会计师事务所的诚实义务】公司应当向聘用的会计师事务所提供真实、完整的会计凭证、会计账簿、财务会计报告及其他会计资料,不得拒绝、隐匿、谎报。

第一百七十二条 【禁止另立账簿及开立个人帐户】公司除法定的会计账簿外,不得另立会计账簿。

对公司资产,不得以任何个人名义开立账户存储。

第九章 公司合并、分立、增资、减资

第一百七十三条 【公司合并的种类】公司合并可以采取吸收合并或者新设合并。

一个公司吸收其他公司为吸收合并,被吸收的公司解散。两个以上公司合并设立一个新的公司为新设合并,合并各方解散。

第一百七十四条 【公司合并程序和债权人异议权】公司合并,应当由合并各方签订合并协议,并编制资产负债表及财产清单。公司应当自作出合并决议之日起十日内通知债权人,并于三十日内在报纸上公告。债权人自接到通知书之日起三十日内,未接到通知书的自公告之日起四十五日内,可以要求公司清偿债务或者提供相应的担保。

第一百七十五条 【公司合并的债权债务承继】公司合并时,合并各方的债权、债务,应当由合并后存续的公司或者新设的公司承继。

第一百七十六条 【公司分立的通知义务】公司分立,其财产作相应的分割。

公司分立,应当编制资产负债表及财产清单。公司应当自作出分立决议之日起十日内通知债权人,并于三十日内在报纸上公告。

第一百七十七条 【公司分立的债务承继】公司分立前的债务由分立后的公司承担连带责任。但是,公司在分立前与债权人就债务清偿达成的书面协议另有约定的除外。

第一百七十八条 【减少注册资本的程序要求及限制】公司需要减少注册资本时,必须编制资产负债表及财产清单。

公司应当自作出减少注册资本决议之日起十日内通知债权人,并于三十日内在报纸上公告。债权人自接到通知书之日起三十日内,未接到通知书的自公告之日起四十五日内,有权要求公司清偿债务或者提供相应的担保。

公司减资后的注册资本不得低于法定的最低限额。

第一百七十九条 【增加注册资本的规定】有限责任公司增加注册资本时,股东认缴新增资本的出资,依照本法设立有限责任公司缴纳出资的有关规定执行。

股份有限公司为增加注册资本发行新股时,股东认购新股,依照本法设立股份有限公司缴纳股款的有关规定执行。

第一百八十条 【公司合并、分立、增资、减资的登记要求】公司合并或者分立,登记事项发生变更的,应当依法向公司登记机关办理变更登记;公司解散的,应当依法办理公司注销登记;设立新公司的,应当依法办理公司设立登记。

公司增加或者减少注册资本,应当依法向公司登记机关办理变更登记。

第十章 公司解散和清算

第一百八十一条 【公司解散的原因】公司因下列原因解散:

(一)公司章程规定的营业期限届满或者公司章程规定的其他解散事由出现;

(二)股东会或者股东大会决议解散;

(三)因公司合并或者分立需要解散;

(四)依法被吊销营业执照、责令关闭或者被撤销;

(五)人民法院依照本法第一百八十三条的规定予以解散。

第一百八十二条 【为使公司存续而修改章程的议事规则】公司有本法第一百八十一条第(一)项情形的,可以通过修改公司章程而存续。

依照前款规定修改公司章程,有限责任公司须经持有三分之二以上表决权的股东通过,股份有限公司须经出席股东大会会议的股东所持表决权的三分之二以上通过。

第一百八十三条 【股东请求法院解散公司的情形】公司经营管理发生严重困难,继续存续会使股东利益受到重大损失,通过其他途径不能解决的,持有公司全部股东表决权百分之十以上的股东,可以请求人民法院解散公司。

第一百八十四条 【清算组的成立与组成】公司因本法第一百八十一条第(一)项、第(二)项、第(四)项、第(五)项规定而解散的,应当在解散事由出现之日起十五日内成立清算组,开始清算。有限责任公司的清算组由股东组成,股份有限公司的清算组由董事或者股东大会确定的人员组成。逾期不成立清算组进行清算的,债权人可以申请人民法院指定有关人员组成清算组进行清算。人民法院应当受理该申请,并及时组织清算组进行清算。

第一百八十五条 【清算组的职权】清算组在清算期间行使下列职权:

(一)清理公司财产,分别编制资产负债表和财产清单;

(二)通知、公告债权人;

(三)处理与清算有关的公司未了结的业务;

(四)清缴所欠税款以及清算过程中产生的税款;

(五)清理债权、债务;

(六)处理公司清偿债务后的剩余财产;

(七)代表公司参与民事诉讼活动。

第一百八十六条 【清算期间的债权申报】清算组应当自成立之日起十日内通知债权人,并于六十日内在报纸上公告。债权人应当自接到通知书之日起三十日内,未接到通知书的自公告之日起四十五日内,向清算组申报其债权。

债权人申报债权,应当说明债权的有关事项,并提供证明材料。清算组应当对债权进行登记。

在申报债权期间,清算组不得对债权人进行清偿。

第一百八十七条 【清算方案的制定与公司财产的处理】清算组在清理公司财产、编制资产负债表和财产清单后,应当制定清算方案,并报股东会、股东大会或者人民法院确认。

公司财产在分别支付清算费用、职工的工资、社会保险费用和法定补偿金,缴纳所欠税款,清偿公司债务后的剩余财产,有限责任公司按照股东的出资比例分配,股份有限公司按照股东持有的股份比例分配。

清算期间,公司存续,但不得开展与清算无关的经营活动。公司财产在未依照前款规定清偿前,不得分配给股东。

第一百八十八条 【宣告破产】清算组在清理公司财产、编制资产负债表和财产清单后,发现公司财产不足清偿债务的,应当依法向人民法院申请宣告破产。

公司经人民法院裁定宣告破产后,清算组应当将清算事务移交给人民法院。

第一百八十九条 【清算报告的报送及公司注销登记】公司清算结束后,清算组应当制作清算报告,报股东会、股东大会或者人民法院确认,并报送公司登记机关,申请注销公司登记,公告公司终止。

第一百九十条 【清算组成员的义务】清算组成员应当忠于职守,依法履行清算义务。

清算组成员不得利用职权收受贿赂或者其他非法收入,不得侵占公司财产。

清算组成员因故意或者重大过失给公司或者债权人造成损失的,应当承担赔偿责任。

第一百九十一条 【破产清算的法律依据】公司被依法宣告破产的,依照有关企业破产的法律实施破产清算。

第十一章 外国公司的分支机构

第一百九十二条 【外国公司的定义】本法所称外国公司是指依照外国法律在中国境外设立的公司。

第一百九十三条 【外国公司分支机构的设立申请及审批】外国公司在中国境内设立分支机构,必须向中国主管机关提出申请,并提交其公司章程、所属国的公司登记证书等有关文件,经批准后,向公司登记机关依法办理登记,领取营业执照。

外国公司分支机构的审批办法由国务院另行规定。

第一百九十四条 【外国公司分支机构的设立及资金要求】外国公司在中国境内设立分支机构,必须在中国境内指定负责该分支机构的代表人或者代理人,并向该分支机构拨付与其所从事的经营活动相适应的资金。

对外国公司分支机构的经营资金需要规定最低限额的,由国务院另行规定。

第一百九十五条 【外国公司分支机构的名称要求及章程置备】外国公司的分支机构应当在其名称中标明该外国公司的国籍及责任形式。

外国公司的分支机构应当在本机构中置备该外国公司章程。

第一百九十六条 【外国公司分支机构不具有中国法人资格】外国公司在中国境内设立的分支机构不具有中国法人资格。

外国公司对其分支机构在中国境内进行经营活动承担民事责任。

第一百九十七条 【外国公司分支机构的合法经营义务及合法权益的保护】经批准设立的外国公司分支机构,在中国境内从事业务活动,必须遵守中国的法律,不得损害中国的社会公共利益,其合法权益受中国法律保护。

第一百九十八条 【外国公司撤销分支机构的条件】外国公司撤销其在中国境内的分支机构时,必须依法清偿债务,依照本法有关公司清算程序的规定进行清算。未清偿债务之前,不得将其分支机构的财产移至中国境外。

第十二章 法律责任

第一百九十九条 【公司登记违法的法律责任】违反本法规定,虚报注册资本、提交虚假材料或者采取其他欺诈手段隐瞒重要事实取得公司登记的,由公司登记机关责令改正,对虚报注册资本的公司,处以虚报注册资本金额百分之五以上百分之十五以下的罚款;对提交虚假材料或者采取其他欺诈手段隐瞒重要事实的公司,处以五万元以上五十万元以下的罚款;情节严重的,撤销公司登记或者吊销营业执照。

第二百条 【公司的发起人、股东出资违法的法律责任】公司的发起人、股东虚假出资,未交付或者未按期交付作为出资的货币或者非货币财产的,由公司登记机关责令改正,处以虚假出资金额百分之五以上百分之十五以下的罚款。

第二百零一条 【公司的发起人、股东抽逃出资的法律责任】公司的发起人、股东在公司成立后,抽逃其出资的,由公司登记机关责令改正,处以所抽逃出资金额百分之五以上百分之十五以下的罚款。

第二百零二条 【公司另立会计账簿的法律责任】公司违反本法规定,在法定的会计账簿以外另立会计账簿的,由县级以上人民政府财政部门责令改正,处以五万元以上五十万元以下的罚款。

第二百零三条 【提交财务会计报告违法的法律责任】公司在依法向有关主管部门提供的财务会计报告等材料上作虚假记载或者隐瞒重要事实的,由有关主管部门对直接负责的主管人员和其他直接责任人员处以三万元以上三十万元以下的罚款。

第二百零四条 【违法提取法定公积金的法律责任】公司不依照本法规定提取法定公积金的,由县级以上人民政府财政部门责令如数补足应当提取的金额,可以对公司处以二十万元以下的罚款。

第二百零五条 【公司在合并、分立、减少注册资本和清算中的违法行为及其法律责任】公司在合并、分立、减少注册资本或者进行清算时,不依照本法规定通知或者公告债权人的,由公司登记机关责令改正,对公司处以一万元以上十万元以下的罚款。

公司在进行清算时,隐匿财产,对资产负债表或者财产清单作虚假记载或者在未清偿债务前分配公司财产的,由公司登记机关责令改正,对公司处以隐匿财产或者未清偿债务前分配公司财产金额百分之五以上百分之十以下的罚款;对直接负责的主管人员和其他直接责任人员处以一万元以上十万元以下的罚款。

第二百零六条 【公司在清算期间违法经营的法律责任】公司在清算期间开展与清算无关的经营活动的,由公司登记机关予以警告,没收违法所得。

第二百零七条 【清算组及其成立对其违法行为的法律责任】清算组不依照本法规定向公司登记机关报送清算报告,或者报送清算报告隐瞒重要事实或者有重大遗漏的,由公司登记机关责令改正。

清算组成员利用职权徇私舞弊、谋取非法收入或者侵占公司财产的,由公司登记机关责令退还公司财产,没收违法所得,并可以处以违法所得一倍以上五倍以下的罚款。

第二百零八条 【资产评估、验资或验证机构对其违法行为的法律责任】承担资产评估、验资或者验证的机构提供虚假材料的,由公司登记机关没收违法所得,处以违法所得一倍以上五倍以下的罚款,并可以由有关主管部门依法责令该机构停业、吊销直接责任人员的资格证书,吊销营业执照。

承担资产评估、验资或者验证的机构因过失提供有重大遗漏的报告的,由公司登记机关责令改正,情节较重的,处以所得收入一倍以上五倍以下的罚款,并可以由有关主管部门依法责令该机构停业、吊销直接责任人员的资格证书,吊销营业执照。

承担资产评估、验资或者验证的机构因其出具的评估结果、验资或者验证证明不实,给公司债权人造成损失的,除能够证明自己没有过错的外,在其评估或者证明不实的金额范围内承担赔偿责任。

第二百零九条 【登记机关违法行为的法律责任】公司登记机关对不符合本法规定条件的登记申请予以登记,或者对符合本法规定条件的登记申请不予登记的,对直接负责的主管人员和其他直接责任人员,依法给予行政处分。

第二百一十条 【登记机关上级部门违法行为的法律责任】公司登记机关的上级部门强令公司登记机关对不符合本法规定条件的登记申请予以登记,或者对符合本法规定条件的登记申请不予登记的,或者对违法登记进行包庇的,对直接负责的主管人员和其他直接责任人员依法给予行政处分。

第二百一十一条 【假冒公司的违法行为及其法律责任】未依法登记为有限责任公司或者股份有限公司,而冒用有限责任公司或者股份有限公司名义的,或者未依法登记为有限责任公司或者股份有限公司的分公司,而冒用有限责任公司或者股份有限公司的分公司名义的,由公司登记机关责令改正或者予以取缔,可以并处十万元以下的罚款。

第二百一十二条 【不当停业及不依法办理变更登记的法律责任】公司成立后无正当理由超过六个月未开业的,或者开业后自行停业连续六个月以上的,可以由公司登记机关吊销营业执照。

公司登记事项发生变更时,未依照本法规定办理有关变更登记的,由公司登记机关责令限期登记;逾期不登记的,处以一万元以上十万元以下的罚款。

第二百一十三条 【外国公司擅自在中国境内设立分支机构的法律责任】外国公司违反本法规定,擅自在中国境内设立分支机构的,由公司登记机关责令改正或者关闭,可以并处五万元以上二十万元以下的罚款。

第二百一十四条 【危害国家安全与社会公共利益的法律责任】利用公司名义从事危害国家安全、社会公共利益的严重违法行为的,吊销营业执照。

第二百一十五条 【民事赔偿优先原则】公司违反本法规定,应当承担民事赔偿责任和缴纳罚款、罚金的,其财产不足以支付时,先承担民事赔偿责任。

第二百一十六条 【刑事责任的追究】违反本法规定,构成犯罪的,依法追究刑事责任。

第十三章 附则

第二百一十七条 【本法所涉相关用语的含义】本法下列用语的含义:

(一)高级管理人员,是指公司的经理、副经理、财务负责人,上市公司董事会秘书和公司章程规定的其他人员。

(二)控股股东,是指其出资额占有限责任公司资本总额百分之五十以上或者其持有的股份占股份有限公司股本总额百分之五十以上的股东;出资额或者持有股份的比例虽然不足百分之五十,但依其出资额或者持有的股份所享有的表决权已足以对股东会、股东大会的决议产生重大影响的股东。

(三)实际控制人,是指虽不是公司的股东,但通过投资关系、协议或者其他安排,能够实际支配公司行为的人。

(四)关联关系,是指公司控股股东、实际控制人、董事、监事、高级管理人员与其直接或者间接控制的企业之间的关系,以及可能导致公司利益转移的其他关系。但是,国家控股的企业之间不仅因为同受国家控股而具有关联关系。

第二百一十八条 【本法在外商投资领域的适用及例外】外商投资的有限责任公司和股份有限公司适用本法;有关外商投资的法律另有规定的,适用其规定。

第二百一十九条 【生效施行日期】本法自2006年1月1日起施行。