Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order
Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order
[Lexis China Comments]
According to the Decision of the Standing Committee of the National People’s Congress on Approving the Report of the Legislative Affairs Commission of the Standing Committee of the National People’s Congress on the Status of Legislative Review and Clean-up and Proposed Handling, this document has ceased to be effective.
Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order
Order of the President of the People's Republic of China (No.52)
June 30, 1995
The Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order, which was adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress of the People's Republic of China on June 30, 1995, is hereby promulgated and shall take effect as of the date of promulgation.
Jiang Zemin, President of the People's Republic of China
Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order
(Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995)
The following decision is hereby made in order to punish crimes of disrupting the financial order such as counterfeiting currencies, fraud on financial bills, fraud on letters of credit and illegally raising funds by fraudulent means:
I. Whoever counterfeits currencies shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and concurrently a fine of not less than CNY50,000 but not more than CNY500,000. If the person falls under any of the following circumstances, he/she shall be sentenced to fixed-term imprisonment of not less than ten years, life imprisonment or death, and concurrently confiscation of property:
1. is a ringleader of a gang engaged in counterfeiting currencies;
2. has counterfeited currencies in especially huge amounts; or
3. falls under other especially serious circumstances.
II. Whoever sells or buys a substantial amount of counterfeit currencies or transports them with the full knowledge that they are counterfeit shall be sentenced to fixed-term imprisonment or criminal detention of not more than three years, and concurrently fined not less than CNY20,000 but not more than CNY200,000; if the amount involved is large, he/she shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and concurrently fined not less than CNY50,000 but not more than CNY500,000; if the amount involved is especially huge, he/she shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and concurrently have his/her property confiscated.
Employees of banks or other financial institutions who buy counterfeit currencies or take advantage of their posts to trade counterfeit currencies for real currencies shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and concurrently fined not less than CNY20,000 but not more than CNY200,000; if the amount involved is large or if the circumstances are serious, they shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and concurrently have their property confiscated; if the circumstances are minor, they shall be sentenced to fixed-term imprisonment or criminal detention of not more than three years, and fined, additionally or exclusively, not less than CNY10,000 but not more than CNY100,000.
Whoever counterfeits currencies and sells or transports such counterfeit currencies shall be given a heavier punishment in accordance with the provisions in Article 1.
III. Whoever smuggles counterfeit currencies shall be punished in accordance with the Supplementary Provisions on Punishing the Crimes of Smuggling issued by the Standing Committee of the National People's Congress.
IV. Whoever knowingly possesses or uses a substantial amount of counterfeit currencies shall be sentenced to fixed-term imprisonment or criminal detention of not more than three years, and concurrently fined not less than CNY10,000 but not more than CNY100,000; if the amount involved is large, he/she shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and concurrently fined not less than CNY20,000 but not more than CNY200,000; if the amount involved is especially large, he/she shall be sentenced to fixed-term imprisonment of not less than ten years, and concurrently fined not less than CNY50,000 but not more than CNY500,000 or have his/her property confiscated.
V.
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According to the Decision of the Standing Committee of the National People’s Congress on Approving the Report of the Legislative Affairs Commission of the Standing Committee of the National People’s Congress on the Status of Legislative Review and Clean-up and Proposed Handling, this document has ceased to be effective.
Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order
Order of the President of the People's Republic of China (No.52)
June 30, 1995
The Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order, which was adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress of the People's Republic of China on June 30, 1995, is hereby promulgated and shall take effect as of the date of promulgation.
Jiang Zemin, President of the People's Republic of China
Decision of the Standing Committee of the National People's Congress to Punish Crimes of Disrupting the Financial Order
(Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995)
The following decision is hereby made in order to punish crimes of disrupting the financial order such as counterfeiting currencies, fraud on financial bills, fraud on letters of credit and illegally raising funds by fraudulent means:
I. Whoever counterfeits currencies shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and concurrently a fine of not less than CNY50,000 but not more than CNY500,000. If the person falls under any of the following circumstances, he/she shall be sentenced to fixed-term imprisonment of not less than ten years, life imprisonment or death, and concurrently confiscation of property:
1. is a ringleader of a gang engaged in counterfeiting currencies;
2. has counterfeited currencies in especially huge amounts; or
3. falls under other especially serious circumstances.
II. Whoever sells or buys a substantial amount of counterfeit currencies or transports them with the full knowledge that they are counterfeit shall be sentenced to fixed-term imprisonment or criminal detention of not more than three years, and concurrently fined not less than CNY20,000 but not more than CNY200,000; if the amount involved is large, he/she shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and concurrently fined not less than CNY50,000 but not more than CNY500,000; if the amount involved is especially huge, he/she shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and concurrently have his/her property confiscated.
Employees of banks or other financial institutions who buy counterfeit currencies or take advantage of their posts to trade counterfeit currencies for real currencies shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and concurrently fined not less than CNY20,000 but not more than CNY200,000; if the amount involved is large or if the circumstances are serious, they shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and concurrently have their property confiscated; if the circumstances are minor, they shall be sentenced to fixed-term imprisonment or criminal detention of not more than three years, and fined, additionally or exclusively, not less than CNY10,000 but not more than CNY100,000.
Whoever counterfeits currencies and sells or transports such counterfeit currencies shall be given a heavier punishment in accordance with the provisions in Article 1.
III. Whoever smuggles counterfeit currencies shall be punished in accordance with the Supplementary Provisions on Punishing the Crimes of Smuggling issued by the Standing Committee of the National People's Congress.
IV. Whoever knowingly possesses or uses a substantial amount of counterfeit currencies shall be sentenced to fixed-term imprisonment or criminal detention of not more than three years, and concurrently fined not less than CNY10,000 but not more than CNY100,000; if the amount involved is large, he/she shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and concurrently fined not less than CNY20,000 but not more than CNY200,000; if the amount involved is especially large, he/she shall be sentenced to fixed-term imprisonment of not less than ten years, and concurrently fined not less than CNY50,000 but not more than CNY500,000 or have his/her property confiscated.
V.
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