Measures of Shanghai Municipality for the Management of Property Right Exchanges
Measures of Shanghai Municipality for the Management of Property Right Exchanges
Measures of Shanghai Municipality for the Management of Property Right Exchanges
Order of the People's Government of Shanghai Municipality [2004] No.36
October 25, 2004
The Measures of Shanghai Municipality for the Management of Property Right Exchanges, which were adopted at the 52nd executive meeting of the Municipal people's government on October 18, 2004, are hereby promulgated, and shall come into force as of November 25, 2004.
Han Zheng, Mayor
Measures of Shanghai Municipality for the Management of Property Right Exchanges
(Promulgated by Order No.36 of the People's Government of Shanghai Municipality on October 25, 2004)
Chapter I General Provisions
Article 1 Purpose
These Measures are formulated for the purpose of regulating the acts of property right transaction, promoting the healthy development of the property right exchange, and promoting the orderly circulation of state-owned property rights, collective property rights and other property rights.
Article 2 Scope of Application
These Measures shall be applicable to property right transaction activities in the property right exchange of this Municipality. Unless otherwise stipulated by laws, regulations and rules, such provisions shall be followed.
Article 3 Definitions
The term "property right" mentioned in these Measures shall refer to various property rights, including real right, creditor's rights, stock rights, and intellectual property rights, etc.
The term "property right transaction" mentioned in these Measures shall refer to the acts of the owner of a property right, who transfers his lawfully owned property right onerously through the property right exchanges.
The term "property right exchange" mentioned in these Measures shall refer to the place of property right transaction established upon the approval of the People's Government of Shanghai Municipality.
Article 4 Principles
The principles of honesty, good faith, openness, fairness and justness shall be followed in property right transactions in the property right exchanges.
Article 5 Trading Products
The transaction of state-owned property rights and collective property rights subject to the jurisdiction of this Municipality shall be carried out in the property right exchanges.
The state-owned property rights of the enterprises under the Central Government may enter into the property right exchanges for trading.
A property right transaction carried out at the property right exchange shall not be restricted by the region, industry, capital contribution or ownership of the trading parties.
Article 6 Administrative Departments
The State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government (hereinafter referred to as the "Municipal SASAC") shall be responsible for the administration and coordination of property right exchanges of this Municipality.
The Shanghai Municipal Property Right Exchange Management Office (hereinafter referred to as the "Municipal PREMO") is the supervisory institution in charge of the property right exchanges of this Municipality. The Municipal PREMO shall be responsible for drawing out policies, plans, and management rules for property right exchanges, supervising over the business activities of property right exchanges and activities of intermediary institutions, investigating into and punishing illegal acts, and guiding the work of the Property Exchange Intermediary Association.
Relevant departments of this Municipality shall, according to their respective scope of power, assist the Municipal SASAC and the Municipal PREMO in the management of property right exchanges.
Chapter II Property Right Exchanges
Article 7 Nature
A property right exchange is a nonprofit public service institution with legal person status.
Article 8 Articles of Association
A property right exchange shall formulate its articles of association, prescribing its organizational framework, membership management system, operational rules, and other matters concerned.
A property right exchange shall solicit the opinions of the Municipal PREMO for the formulation and amendment of the articles of association, and report such formulation and amendment to the Municipal SASAC for approval.
Article 9 Transaction Rules
A property right exchange shall formulate relevant transaction rules according to law in light of the management system and the articles of association approved by the Municipal SASAC, and report the same to the Municipal PREMO for examination.
Article 10 Service Functions
A property right exchange shall provide sites, facilities and information for property right transactions.
A property right exchange shall establish a network platform for the release of property right transaction information, set up an online searching system combined of information websites and databases, and promptly provide transaction information, management rules, transaction rules as well as relevant laws, regulations, rules and policies.
The network platform for releasing property right transaction information established in a property right exchange shall be interlinked with the networks of the departments of state-owned assets, the departments of industry and commerce as well as other relevant administrative departments responsible for the registration of title alteration, or be able to exchange information with the said departments.
A property right exchange may provide price settlement services for property right transactions.
Article 11 Membership
Any legal-person intermediary institution which undertakes property right transaction activities and makes commitments on abiding by the articles of association of the property right exchanges may become a member of a property right exchange after its written application is approved by the property right exchange concerned.
A property right exchange shall put on archives the membership conditions at the Municipal PREMO.
Chapter III Transaction Activities of Property Right Exchanges
Article 12 Transaction Agents
The assigner and the assignee who enter into a property right exchange and undertake property right transaction activities may entrust members of the property right exchange to conduct property right transaction activities, and sign an agent contract with such members.
Article 13 Materials Submitted by the Assigner
When assigning a property right, the following materials shall be submitted to the property right exchange:
1.
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