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1、汽车金融公司管理办法(英文版) 汽车金融公司管理方法(英文版) 中国银行业监督管理委员会 China Banking Regulatory Commiion No.4 Order Upon the approval of the State Council, the Administrative Rules Governing the Auto Financing Company is now promulgated by the China Banking Regulatory Commiion. Chairman Liu Mingkang October 3, 2003 Administr
2、ative Rules Governing the Auto Financing Company Chapter I General Provisions Article 1 The Administrative Rules Governing the Auto Financing Company (hereinafter referred to as the Rules) is stipulated in accordance with relevant laws and regulations to serve the need of developing auto financing b
3、usine and regulating the busine activities of the non-bank financial institutions engaging in auto financing busine. Article 2 Auto financing companies referred to in the Rules are defined as non-bank financial legal entities charted by the China Banking Regulatory Commiion in compliance with releva
4、nt laws, regulations and the Rules to provide loans for auto buyers and dealers in the mainland of China. Article 3 Auto financing companies are supervised and regulated by the China Banking Regulatory Commiion. Chapter II Incorporation, Change and Termination Article 4 The establishment of an auto
5、financing company shall be subject to the approval of the China Banking Regulatory Commiion. Without the approval of the China Banking Regulatory Commiion, no individual or entity shall be allowed to establish an auto financing company, or engage in auto financing busine, or include in the name of a
6、 company such names as “auto financing” or “auto loan” that indicate the companys engagement in auto financing busine Article 5 An investor of an auto financing company shall satisfy following requirements: (a) It shall be a corporate legal entity incorporated in and outside China. If the investor i
7、s a non-financial entity, its total aets of the previous year shall be no le than RMB4 billion yuan or an equivalent amount in convertible currencies; its annual busine revenue of the previous year shall be no le than RMB2 billion yuan or an equivalent amount in convertible currencies. If the invest
8、or is a non-bank financial institution, its registered capital shall be no le than RMB300 million yuan or an equivalent amount in convertible currencies; (b) It shall have sound busine performance and remain profitable for the last three consecutive years; (c) It shall comply with the laws of the co
9、untries where it is incorporated and shall have a clean record; (d) In case of the largest investor, it shall be an auto enterprise or a non-bank financial institution. The auto enterprise refers to an enterprise that manufactures and sells the whole unit of an automobile. The largest investor refer
10、s to the investor with the largest share of capital and its capital contribution accounting for no le than 30 percent of the total equity of the auto financing company; (e) It shall not invest in more than one auto financing company; and (f) It shall satisfy other prudential supervisory requirements
11、 set forth by the China Banking Regulatory Commiion. Article 6 An auto financing company shall satisfy the following conditions in order to be incorporated: a) the minimum amount of registered capital required by the Rules; b) Articles of Aociation that complies with relevant laws including the Comp
12、any Law of the Peoples Republic of China and the Rules; c) senior management familiar with auto financing and other related busine; d) a sound organizational structure, management and risk control systems; e) proper busine premises, safety measures and other facilities for busine operations; and f)
13、other conditions set out by the China Banking Regulatory Commiion. Article 7 The minimum registered capital of an auto financing company shall be no le than RMB500 million yuan or an equivalent amount in convertible currencies.Registered capital shall be paid-in capital. The China Banking Regulatory
14、 Commiion shall have the power to adjust the minimum registered capital of an auto financing company in line with the developments of auto financing busine and the prudential requirements, but the adjusted floor shall not be lower than the amount provided in this Article. Article 8 The establishment
15、 of an auto financing company shall cover two stages, i.e.the preparation stage and the busine commencement stage.The Chinese text of all application documents for the preparation and the busine commencement stages shall prevail. Article 9 To apply for the preparation of a prospective auto financing
16、 company, the largest investor of the company shall act as the applicant and submit the following documents to the China Banking Regulatory Commiion: (a) an application letter, including the auto financing companys name, location of incorporation, registered capital, busine scope and investors names
17、 and amounts of investment, etc.; (b) a feasibility study on establishing the auto financing company, including a market analysis, a busine plan, the organizational structure, an aement of the companys risk control capability, the proforma balance sheet and profits in the following three years after
18、 the busine commencement; (c) an Articles of Aociation of the auto financing company (a draft note); (d) basic information of each investor of the auto financing company, including name, legal representative, location of incorporation, a photocopy of the busine license and a summary of busine perfor
19、mance, etc.; (e) the investors balance sheet, profit and lo statement and cash flow statement for the latest three years audited by qualified auditing firms; (f) name and resume of the person in charge of the preparation; and (g) other documents required by the China Banking Regulatory Commiion. If
20、the applicant is a foreign non-bank financial institution, it shall submit the consent of its home country supervisory authority in writing.If the applicant is a non-financial entity, it shall submit the credit rating report of the previous year by a rating agency. Article 10 The China Banking Regul
21、atory Commiion, upon receiving a complete set of application documents for the preparation of an auto financing company, shall provide its decision of approval or denial in writing within six months. Article 11 The applicant shall, upon receiving the approval letter from the China Banking Regulatory
22、 Commiion, complete the preparation within six months.If the applicant has justification for prolonging the preparation stage beyond the prescribed period, it shall submit a written application to the China Banking Regulatory Commiion before the original deadline falls due, and may extend the prepar
23、ation stage for up to three months subject to the approval. If the applicant fails to apply for busine commencement upon the completion of the preparation stage or the extended preparation stage, the original approval document for the preparation shall become void automatically. During the preparati
24、on stage, the applicant shall not conduct any auto financing busine. Article 12 The applicant shall, before the deadline of the preparation stage or the extended preparation stage, apply for busine commencement to the China Banking Regulatory Commiion with the following attachments: (a) a report on
25、completion of the preparation and an application letter for busine commencement; (b) a certification of paid-in capital iued by a qualified Chinese certifying agency, and a registration certificate iued by the State Administration of Industry and Commerce; (c) articles of Aociation of the auto finan
26、cing company; (d) names and detailed resumes of proposed senior managerial personnel; (e) name and capital contribution of each shareholder; (f) proposed busine rules and procedures and internal controls; (g) verification documents on busine premises and other busine-related facilities iued by relev
27、ant authorities; and (h) other documents required by the China Banking Regulatory Commiion. Article 13 The China Banking Regulatory Commiion, upon receiving a complete set of busine commencement application documents, shall provide its decision of approval or denial of the application within three m
28、onths.If the application is approved, the applicant shall receive a written approval letter attached with a license to conduct financial busine with the prescribed busine scope.If the application is denied, the applicant shall receive a written notice in which reasons for denial are provided. The ap
29、plicant shall, before commencing operations, register with the State Administration of Industry and Commerce with the presentation of the license to conduct financial busine, and receive a corporate legal entity busine License. The China Banking Regulatory Commiion shall revoke the license to conduc
30、t financial busine and iue a public notice of the revocation if the auto financing company, after receiving the busine license, fails without justification to open busine within three months, or, without approval, stops operation for six consecutive months after busine commencement. Article 14 An au
31、to financing company shall not set up any branch or subsidiary. Article 15 The appointment of the senior managerial personnel of an auto financing company shall be either subject to the qualification review by the China Banking Regulatory Commiion or filed with the China Banking Regulatory Commiion
32、for record. The chairman of the board of directors, general manager and deputy general manager, executive directors, and chief financial officer of an auto financing company are subject to the qualification view by the China Banking Regulatory Commiion.The qualifications of these senior managerial p
33、ersonnel and procedures relating to qualification review and filing for record shall be iued separately. Article 16 An auto financing company, in case of any of the following changes, shall seek the approval of the China Banking Regulatory Commiion: (a) change of company name; (b) change of register
34、ed capital; (c) change of busine premises; (d) change of busine scope; (e) change of organizational structure; (f) change of equity structure; (g) revision of Articles of Aociation; (h) change of senior managerial personnel; (i) merger or split; and (j) other changes that require the approval of the
35、 China Banking Regulatory Commiion. Article 17 The liquidation of an auto financing company whose operation is terminated because of diolution, closure or bankruptcy, shall be carried out in compliance with relevant laws and regulations. Chapter III Busine Scope and Supervision Article 18 An auto fi
36、nancing company may conduct all or part of the following lines of Renminbi busine with the approval of the China Banking Regulatory Commiion: (a) taking deposits with maturity of no le than three months from its shareholders in the mainland of China; (b) extending loans for auto purchase; (c) extend
37、ing loans to auto dealers for purpose of purchasing automobiles or facilities for operations (including the show-room construction, purchase of spare parts and equipment repairs); (d) transferring and selling auto loan receivables; (e) borrowing from financial institutions; (f) providing guarantee f
38、or auto purchase financing; (g) agency busine relating to auto purchase financing; and (h) other loan busine approved by The China Banking Regulatory Commiion. Article 19 An auto financing company, in case of extending loans to a natural person for auto purchase, shall observe relevant rules governi
39、ng the auto loans to individual buyers promulgated by the relative supervisory authority.In case of extending auto loans to a legal entity or other organizations, an auto financing company shall observe relevant rules set out by General Provisions of Loans and other regulations. Article 20 An auto f
40、inancing company, without the approval of relevant regulatory authorities, shall not iue bonds or borrow funds from overseas.When an auto financing companys establishment and busine operations involve currency exchange, outward repatriation of profits, provision of auto loans for non-residents, capi
41、tal management or other busine transactions relating to foreign exchange administration, the company shall be subject to relevant regulations to be jointly iued by relative regulatory authorities and the State Administration of Foreign Exchange. Article 21 An auto financing company shall meet the re
42、quirement on the capital to risk aets ratio, and the capital adequacy ratio shall not be le than ten percent.The China Banking Regulatory Commiion may increase the minimum requirement of capital adequacy ratio of an individual company in line with the companys risk profile and risk management capabi
43、lity.Other requirements on risk control and management relating to various kinds of aets shall be iued separately by the China Banking Regulatory Commiion. Article 22 An auto financing company shall adopt relevant accounting rules for financial institutions. Article 23 An auto financing company shal
44、l compile in required format and submit to the China Banking Regulatory Commiion the balance sheet, the profit and lo Statement, the cash flow statement and other statements required by the China Banking Regulatory Commiion, and submit the financial statements of the previous year within three month
45、s after the end of each accounting year. An auto financing company shall not provide false financial statements, or statements in which important facts are concealed. Article 24 An auto financing company shall establish and improve various busine management systems and internal controls in line with
46、 Guidelines on Strengthening Internal Controls of Commercial Banks iued by the Peoples Bank of China, and report the systems to the China Banking Regulatory Commiion before their implementation. Article 25 An auto financing company shall accept the on-site examination and the off-site surveillance b
47、y the China Banking Regulatory Commiion. Article 26 The China Banking Regulatory Commiion may call the legal representatives or other senior managerial personnel of an auto financing company for inquiries into problems discovered during regular examinations, and demand the company to correct within a prescribed time frame. Article 27 An auto financing company shall establish a system of external audit on a regular basis and submit to the China Banking Regulatory Commiion annual auditors report signed by the companys legal representative within six months after the end of each accoun