Interim Regulations on the Board of Supervisors of Important State-owned Financial Institutions
Interim Regulations on the Board of Supervisors of Important State-owned Financial Institutions
Interim Regulations on the Board of Supervisors of Important State-owned Financial Institutions
Order of the State Council of the People's Republic of
March 21, 2000
Article 1 For the purpose of improving the supervisory mechanism of the important state-owned financial institutions throughout the country, intensifying the supervision over the important state-owned financial institutions, this Regulation is formulated in accordance with the Law of the People's Republic of China on Commercial Banks and Insurance Law of the People's Republic of China.
Article 2 The term "important state-owned financial institutions" as mentioned in this Regulation refers to the state-owned policy banks, commercial banks, financial asset management companies, securities companies, insurance companies, etc. to which the State Council dispatches a board of supervisors (hereinafter referred to as the state-owned financial institutions).
For the name list of the state-owned financial institutions to which the State Council dispatches a board of supervisors, the administrative department for the board of supervisors of state-owned financial institutions (hereinafter referred to as the administrative department for the board of supervisors) shall put forward a proposal and submit it to the State Council for determination.
Article 3 The board of supervisors of a state-owned financial institution shall be dispatched by the State Council, shall be directly responsible for the State Council and shall supervise the quality of assets of the state-owned financial institution as well as the value maintenance and appreciation of state-owned assets.
Article 4 The administrative department for the board of supervisors shall be responsible for the routine management of the board of supervisors.
Article 5 The board of supervisors shall, pursuant to the relevant laws, administrative regulations, as well as the relevant provisions of the Ministry of Finance, center around the financial supervision and conduct supervision over the financial activities of the financial institution and the business management acts of the directors, presidents (managers) and other key persons-in-charge so as to ensure no encroachment on the state-owned assets and the relevant rights and interests is committed.
The relationship between the board of supervisors and the state-owned financial institution shall be one between the supervisor and the supervised. The board of supervisors shall not participate in nor interfere with the business decision-making and business management activities of the state-owned financial institution.
Article 6 The board of supervisors shall perform the following functions:
1.
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