It is understood
January 2, China Securities Regulatory Commission issued the According to regulations, M & Audit Committee members should accept the appointment within one month from the date of clearance to sell his shares, or securities account application lock.
Operational details of the further implementation of
With the split share structure reform of the basic completion of M & A activities of listed companies are becoming increasingly active. It is understood that M & A Committee consisting of professionals, not more than 35, including the China Securities Regulatory Commission staff more than seven. M & A committee members elected for a term of two years may be renewed, the longest continuous period of not more than four years.
To prevent conflicts of interest, members of the Commission on the revision aspects of buying and selling stocks more stringent requirements. The revised full account of the professionals in the mergers and acquisitions as a member of the Committee after its shares held by a variety of situations, from the operational point of view, according to report – registered – clean – lock – Curing – ban the operation process, carefully formulate specific provisions.
Requirements under the regulations, M & A Committee member appointed in the China Securities Regulatory Commission to accept, it shall truthfully declare the registration in accordance with relevant provisions of the securities account and securities held by the case of listed companies; hold securities of listed companies, China Securities Regulatory Commission shall accept the date of appointment sold within one month clean-up; is unable to sell clean, can apply for a securities account lock; duration of employment may apply for lifting the end of a securities account.
Added to avoid the situation
Meanwhile, members of the revision of the application for review of merger and reorganization was further added to avoid the situation and clear.
But I held for members of the securities has been locked, and the family members held assets associated with the merger and reorganization of the shares, an increase of this amendment provides that
Related Case
Audit did not avoid the dismissal of members
In the Commission prior to the revision of procedures, there have been a member of M & A case of improper stock profits. In early December the Commission announced the dismissal of the third member of the Audit Committee M & Wu Jianmin, members of the audit because of the restructuring of St. ST shares of the company before and did not evade review.
It is understood, Wu Jianmin in Beijing Pan-general manager of Societe Generale Asset Evaluation Co., Ltd., in December 2007, China Securities Regulatory Commission has been appointed as the third M & A Committee.
Wu Jianmin in the use of borrowed securities account stock held by ST St. circumstances, failure to apply for the withdrawal provisions, on March 3, 2010 in St. audit Heilongjiang Science and Technology Co., Ltd. M & A restructuring plan.
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