Circular on Strengthening Real Estate Brokerage Administration and Improving Legal Compliance of Transaction Funds Settlement Account Jointly Issued by the Ministry of Construction and the People's Bank of China
Circular on Strengthening Real Estate Brokerage Administration and Improving Legal Compliance of Transaction Funds Settlement Account Jointly Issued by the Ministry of Construction and the People's Bank of China
Circular on Strengthening Real Estate Brokerage Administration and Improving Legal Compliance of Transaction Funds Settlement Account Jointly Issued by the Ministry of Construction and the People's Bank of China
Jian Zhu Fang [2006] No. 321
December 29, 2006
Construction Administration of each province or autonomous region, Real Estate Administration of municipalities directly under the Central Government, the Shanghai Headquarters, business management departments and branches of the People's Bank of China, and provincial capital city sub-branches of the People's Bank of China,
In order to establish a real estate brokerage market order characterized by transaction entity good faith, transaction behavior compliance and strong supervision and administration, and to protect the legitimate rights of the parties to real estate brokerage activities, we hereby issue the following circular in respect of several specific issues:
I. Overall implementation of real estate brokerage institution filing and publicizing system. A real estate brokerage institution (including its branches and subsidiaries, hereinafter the same) and a transaction security institution shall file with the municipal and county real estate administration authorities at the place of their respective business license registration within 30 days after obtaining their respective business licenses, and the municipal real estate administration authorities shall issue the brokerage institute a filing certificate. Real estate administration authorities shall disclose to the public without delay information concerning the real estate brokerage institute's name, domiciles, legal representative, registered capital, names of registered real estate brokers and of real estate brokers' assistants (hereinafter referred to as Real Estate Broker) that the real estate brokerage institute has submitted for filing, so that parties to real estate transactions may have access to such information.
II. Strictly implement a real estate broker practice qualification system. Proceed to conduct real estate broker practice qualification examinations according to the provisions of the Ministry of Personnel and the Ministry of Construction's Circular on Printing and Issuing the Tentative Rules on Real Estate Broker Practice Qualification System and Real Estate Broker Qualification Examination Implementation Rules (Ren Fa [2001] No. 128) and Circular on Transforming the Mode of Real Estate Broker Practicing Qualification Registration Administration (Jian Ban Zhu Fang [2004] No. 43), strengthen registration administration. Municipal real estate administration authorities shall immediately start organizing real estate broker assistant examinations and registrations. Real estate brokerage industrial associations shall establish and improve the real estate brokers' further education system so as to constantly enhance real estate brokers' overall capabilities.
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Jian Zhu Fang [2006] No. 321
December 29, 2006
Construction Administration of each province or autonomous region, Real Estate Administration of municipalities directly under the Central Government, the Shanghai Headquarters, business management departments and branches of the People's Bank of China, and provincial capital city sub-branches of the People's Bank of China,
In order to establish a real estate brokerage market order characterized by transaction entity good faith, transaction behavior compliance and strong supervision and administration, and to protect the legitimate rights of the parties to real estate brokerage activities, we hereby issue the following circular in respect of several specific issues:
I. Overall implementation of real estate brokerage institution filing and publicizing system. A real estate brokerage institution (including its branches and subsidiaries, hereinafter the same) and a transaction security institution shall file with the municipal and county real estate administration authorities at the place of their respective business license registration within 30 days after obtaining their respective business licenses, and the municipal real estate administration authorities shall issue the brokerage institute a filing certificate. Real estate administration authorities shall disclose to the public without delay information concerning the real estate brokerage institute's name, domiciles, legal representative, registered capital, names of registered real estate brokers and of real estate brokers' assistants (hereinafter referred to as Real Estate Broker) that the real estate brokerage institute has submitted for filing, so that parties to real estate transactions may have access to such information.
II. Strictly implement a real estate broker practice qualification system. Proceed to conduct real estate broker practice qualification examinations according to the provisions of the Ministry of Personnel and the Ministry of Construction's Circular on Printing and Issuing the Tentative Rules on Real Estate Broker Practice Qualification System and Real Estate Broker Qualification Examination Implementation Rules (Ren Fa [2001] No. 128) and Circular on Transforming the Mode of Real Estate Broker Practicing Qualification Registration Administration (Jian Ban Zhu Fang [2004] No. 43), strengthen registration administration. Municipal real estate administration authorities shall immediately start organizing real estate broker assistant examinations and registrations. Real estate brokerage industrial associations shall establish and improve the real estate brokers' further education system so as to constantly enhance real estate brokers' overall capabilities.
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