Regulations on the Dissolution of Financial Institutions

(2001年11月14日国务院第47次常务会议通过　2001年11月23日中华人民共和国国务院令第324号公布　自2001年12月15日起施行)

(Adopted at the 47th Executive Meeting of the State Council on November 14, 2001, promulgated by Decree No. 324 of the State Council of the People's Republic of China on November 23, 2001, and effective as of December 15, 2001)

为了加强对金融活动的监督管理，维护金融秩序，保护国家利益和社会公众利益，制定本条例。

These Regulations are formulated to strengthen the supervision and management of financial activities, maintain financial order, and protect the interests of the state and the public.

中国人民银行撤销金融机构，依照本条例执行。

The dissolution of financial institutions by the People's Bank of China shall be carried out in accordance with these Regulations.

本条例所称撤销，是指中国人民银行对经其批准设立的具有法人资格的金融机构依法采取行政强制措施，终止其经营活动，并予以解散。

For the purposes of these Regulations, 'dissolution' refers to the administrative compulsory measures taken by the People's Bank of China in accordance with the law against a legally established financial institution with legal personality, terminating its business activities and dissolving it.

中国人民银行及其工作人员以及其他有关人员依照本条例履行职责，应当依法为被撤销的金融机构保守秘密。

The People's Bank of China and its staff, as well as other relevant personnel, shall, when performing their duties in accordance with these Regulations, maintain confidentiality for the dissolved financial institution in accordance with the law.

被撤销的金融机构所在地的地方人民政府应当组织有关部门，做好与撤销有关的工作。

The local people's government of the place where the dissolved financial institution is located shall organize relevant departments to carry out work related to the dissolution.

金融机构有违法违规经营、经营管理不善等情形，不予撤销将严重危害金融秩序、损害社会公众利益的，应当依法撤销。

If a financial institution engages in illegal or irregular operations, poor management, or other circumstances, and failure to dissolve it would seriously harm financial order and damage public interests, it shall be dissolved in accordance with the law.

中国人民银行决定撤销金融机构，应当制作撤销决定书。

When the People's Bank of China decides to dissolve a financial institution, it shall issue a dissolution decision document.

撤销决定自中国人民银行宣布之日起生效。

The dissolution decision shall take effect from the date of its announcement by the People's Bank of China.

撤销决定应当在报纸上公告，并在被撤销的金融机构的营业场所张贴。

The dissolution decision shall be published in newspapers and posted at the business premises of the dissolved financial institution.

自撤销决定生效之日起，被撤销的金融机构必须立即停止经营活动，交回金融机构法人许可证及其分支机构营业许可证，其高级管理人员、董事会和股东大会必须立即停止行使职权。

From the effective date of the dissolution decision, the dissolved financial institution must immediately cease business activities, return the financial institution's legal person permit and its branch business permits, and its senior management, board of directors, and shareholders' meeting must immediately cease exercising their functions.

商业银行依法被撤销的，由中国人民银行组织成立清算组；非银行金融机构依法被撤销的，由中国人民银行或者中国人民银行委托的有关地方人民政府组织成立清算组。清算自撤销决定生效之日起开始。清算组向中国人民银行负责并报告工作。

If a commercial bank is dissolved in accordance with the law, the People's Bank of China shall organize the establishment of a liquidation committee; if a non-bank financial institution is dissolved in accordance with the law, the People's Bank of China or the relevant local people's government entrusted by the People's Bank of China shall organize the establishment of a liquidation committee. The liquidation shall commence from the effective date of the dissolution decision. The liquidation committee shall be responsible to and report on its work to the People's Bank of China.

清算组由中国人民银行、财政、审计等有关部门、地方人民政府的代表和被撤销的金融机构股东的代表及有关专业人员组成。清算组组长及成员，由中国人民银行指定或者经中国人民银行同意。

The liquidation committee shall be composed of representatives from the People's Bank of China, finance, audit, and other relevant departments, the local people's government, representatives of the shareholders of the dissolved financial institution, and relevant professionals. The head and members of the liquidation committee shall be appointed by or with the consent of the People's Bank of China.

清算期间，清算组行使被撤销的金融机构的管理职权，清算组组长行使被撤销的金融机构的法定代表人职权。

During the liquidation period, the liquidation committee shall exercise the management functions of the dissolved financial institution, and the head of the liquidation committee shall exercise the functions of the legal representative of the dissolved financial institution.

清算组成立后，被撤销的金融机构的法定代表人及有关负责人应当将被撤销的金融机构的全部印章、账簿、单证、票据、文件、资料等移交清算组，并协助清算组进行清算。

After the establishment of the liquidation committee, the legal representative and relevant responsible persons of the dissolved financial institution shall transfer all seals, account books, vouchers, instruments, documents, materials, etc., of the dissolved financial institution to the liquidation committee and assist the liquidation committee in carrying out the liquidation.

清算期间，被撤销的金融机构的法定代表人、董事会和监事会成员、部门负责人以上高级管理人员、财务人员及其他有关人员，应当按照清算组的要求进行工作，不得擅离职守，不得自行出境。

During the liquidation period, the legal representative, members of the board of directors and board of supervisors, senior management personnel at or above the department head level, financial personnel, and other relevant personnel of the dissolved financial institution shall work in accordance with the requirements of the liquidation committee, shall not leave their posts without authorization, and shall not leave the country without permission.

清算期间，清算组履行下列职责：

During the liquidation period, the liquidation committee shall perform the following duties:

(一)保管、清理被撤销的金融机构财产，编制资产负债表和财产清单；

(1) Safekeeping and liquidating the property of the dissolved financial institution, and preparing a balance sheet and property inventory;

(二)通知、公告存款人及其他债权人，确认债权；

(2) Notifying and announcing to depositors and other creditors, and confirming claims;

(三)处理与清算被撤销的金融机构有关的未了结业务；

(3) Handling unfinished business related to the liquidation of the dissolved financial institution;

(四)清理债权、债务，催收债权，处置资产；

(4) Liquidating claims and debts, collecting claims, and disposing of assets;

(五)制作清算方案，按照经批准的清算方案清偿债务；

(5) Preparing a liquidation plan and settling debts in accordance with the approved liquidation plan;

(六)清缴所欠税款；

(6) Pay the taxes owed;

(七)处理被撤销的金融机构清偿债务后的剩余财产；

(7) Dispose of the remaining property after the dissolved financial institution's debts are cleared;

(八)代表被撤销的金融机构参加诉讼、仲裁活动；

(8) Represent the dissolved financial institution in litigation and arbitration activities;

(九)提请有关部门追究对金融机构被撤销负有直接责任的高级管理人员和其他有关人员的法律责任；

(9) Request relevant authorities to pursue legal liability of senior managers and other relevant personnel who bear direct responsibility for the dissolution of the financial institution;

(十)办理其他清算事务。

(10) Handle other liquidation affairs.

清算期间，清算组可以将清算事务委托中国人民银行指定的金融机构(以下简称托管机构)办理。

During the liquidation period, the liquidation group may entrust the liquidation affairs to a financial institution designated by the People's Bank of China (hereinafter referred to as the custodian institution).

托管机构不承担被撤销的金融机构债务，不垫付资金，不负责被撤销的金融机构人员安置。托管费用列入被撤销的金融机构清算费用。

The custodian institution shall not assume the debts of the dissolved financial institution, shall not advance funds, and shall not be responsible for the placement of personnel of the dissolved financial institution. The custodian fees shall be included in the liquidation expenses of the dissolved financial institution.

被撤销的金融机构所在地的地方人民政府应当成立撤销工作领导小组，组长由地方人民政府负责人担任。

The local people's government at the location of the dissolved financial institution shall establish a dissolution working group, with the head of the local people's government serving as the group leader.

撤销工作领导小组应当支持、配合清算组催收债权和办理其他清算事务，并组织有关部门依法维护社会治安秩序，处理突发事件，查处违法行为，依法追究有关责任人员的法律责任。

The dissolution working group shall support and cooperate with the liquidation group in collecting claims and handling other liquidation affairs, and shall organize relevant departments to maintain social order according to law, handle emergencies, investigate illegal acts, and pursue legal liability of relevant responsible persons according to law.

清算组应当自成立之日起10日内，书面通知债权人申报债权，并于60日内在报纸上至少公告3次。

The liquidation group shall, within 10 days from its establishment, notify creditors in writing to declare claims, and shall publish at least 3 announcements in newspapers within 60 days.

债权人应当自接到通知书之日起30日内，未接到通知书的债权人应当自第一次公告之日起90日内，向清算组申报债权。

Creditors who receive the notice shall declare claims within 30 days from receipt of the notice; creditors who do not receive the notice shall declare claims within 90 days from the date of the first announcement.

清算组可以决定小额储蓄存款人可以不申报债权，由清算组根据被撤销的金融机构会计账册和有关凭证，对储蓄存款予以确认和登记。

The liquidation group may decide that small savings depositors need not declare claims, and the liquidation group shall confirm and register savings deposits based on the accounting books and relevant vouchers of the dissolved financial institution.

债权人申报债权，应当说明债权性质、数额和发生时间，并提供有关证明材料。清算组应当审查申报债权的证明材料，确认债权有无财产担保及数额，对有财产担保的债权和无财产担保的债权分别登记。

When declaring claims, creditors shall specify the nature, amount, and time of occurrence of the claim, and provide relevant supporting materials. The liquidation group shall examine the supporting materials of the declared claims, confirm whether the claims are secured by property and the amount, and register secured and unsecured claims separately.

债权人未在规定期限内申报债权的，按照下列规定处理：

If a creditor fails to declare a claim within the prescribed time limit, it shall be handled according to the following provisions:

(一)已知债权人的债权，应当列入清算范围；

(1) Claims of known creditors shall be included in the liquidation scope;

(二)未知债权人的债权，在被撤销的金融机构的清算财产分配结束前，可以请求清偿；被撤销的金融机构的清算财产已经分配结束的，不再予以清偿。

(2) Claims of unknown creditors may be requested for settlement before the distribution of the liquidation property of the dissolved financial institution is completed; if the distribution of the liquidation property has been completed, no further settlement shall be made.

自撤销决定生效之日起，被撤销的金融机构债务停止计算利息。

From the effective date of the dissolution decision, interest on the debts of the dissolved financial institution shall cease to accrue.

被撤销的金融机构下列财产，作为清偿债务的清算财产：

The following property of the dissolved financial institution shall be the liquidation property for settling debts:

(一)清算开始之日起被撤销的金融机构全部财产，包括其股东的出资及其他权益、其全资子公司的财产和其投资入股的股份；

(1) All property of the dissolved financial institution from the commencement of liquidation, including the capital contributions and other rights and interests of its shareholders, the property of its wholly-owned subsidiaries, and its shares in invested enterprises;

(二)清算期间被撤销的金融机构依法取得的财产；

(2) Property lawfully obtained by the dissolved financial institution during the liquidation period;

(三)被撤销的金融机构的其他财产。

(3) Other property of the dissolved financial institution.

撤销决定生效之日前，被撤销的金融机构恶意转移或者变相转移财产的行为无效；由此转移和变相转移的财产由清算组负责追回，并入清算财产。

Any malicious transfer or disguised transfer of property by the dissolved financial institution before the effective date of the dissolution decision shall be invalid; the property so transferred or disguised shall be recovered by the liquidation group and included in the liquidation property.

清算组清理被撤销的金融机构财产时，应当依法评估其财产的实际价值；财产有损失的，应当核实损失数额。

When the liquidation group clears the property of the dissolved financial institution, it shall evaluate the actual value of the property according to law; if the property has suffered losses, the amount of losses shall be verified.

清算组可以依法变卖被撤销的金融机构的有效资产；拍卖被撤销的金融机构有效资产的，应当按照具有资产评估业务资格的中介机构出具的评估结果确定拍卖底价。

The liquidation group may lawfully sell the effective assets of the dissolved financial institution; if the effective assets of the dissolved financial institution are auctioned, the reserve price shall be determined based on the appraisal results issued by an intermediary institution with asset appraisal business qualifications.

前款所称有效资产，是指被撤销的金融机构经清理、核实后具有实际价值的财产。

The term 'effective assets' as mentioned in the preceding paragraph refers to the property of the dissolved financial institution that has actual value after being cleared and verified.

被撤销的金融机构财产的清理和处置，免交税收和行政性收费。

The cleanup and disposal of property of a dissolved financial institution shall be exempt from taxes and administrative fees.

被撤销的金融机构财产经清理、核实后，清算组应当制作清算方案。

After the property of the dissolved financial institution has been cleaned up and verified, the liquidation team shall prepare a liquidation plan.

清算方案应当包括债权人情况、债权数额、清算财产数额、支付个人储蓄存款的本金和合法利息的数额、清偿其他债务的数额等内容，并附资产负债表、财产清单、资产评估报告等材料。

The liquidation plan shall include the status of creditors, the amount of claims, the amount of liquidation property, the amount for paying principal and lawful interest of individual savings deposits, the amount for settling other debts, and shall be accompanied by a balance sheet, property inventory, asset appraisal report, and other materials.

清算方案由清算组与债权人协商后，报中国人民银行确认。

The liquidation plan shall be confirmed by the People's Bank of China after consultation between the liquidation team and the creditors.

被撤销的金融机构清算财产，应当先支付个人储蓄存款的本金和合法利息。

The liquidation property of a dissolved financial institution shall first be used to pay the principal and lawful interest of individual savings deposits.

被撤销的金融机构的清算财产支付个人储蓄存款的本金和合法利息后的剩余财产，应当清偿法人和其他组织的债务。

The remaining property after paying the principal and lawful interest of individual savings deposits from the liquidation property of a dissolved financial institution shall be used to settle debts of legal persons and other organizations.

被撤销的金融机构的清算财产清偿债务后的剩余财产，经清算应当按照股东的出资比例或者持有的股份比例分配。

The remaining property after settling debts from the liquidation property of a dissolved financial institution shall be distributed according to the shareholders' capital contribution ratio or shareholding ratio upon liquidation.

清算结束后，清算组应当制作清算报告、清算期内收支报表和各种财务账册，报中国人民银行确认。

After the liquidation is completed, the liquidation team shall prepare a liquidation report, income and expenditure statements during the liquidation period, and various financial account books, and submit them to the People's Bank of China for confirmation.

清算结束后，清算组应当向工商行政管理机关办理注销登记手续，被撤销的金融机构股东的资格终止，被撤销的金融机构即行解散，由中国人民银行予以公告。

After the liquidation is completed, the liquidation team shall handle the cancellation of registration procedures with the administrative authority for industry and commerce. The qualifications of shareholders of the dissolved financial institution shall terminate, and the dissolved financial institution shall be dissolved, with an announcement by the People's Bank of China.

被撤销的金融机构的各种会计凭证、会计账册、会计报表等资料以及有关营业、清算的重要文件，应当在注销登记后由中国人民银行指定的机构负责保管。

Various accounting vouchers, account books, accounting statements, and other materials of the dissolved financial institution, as well as important documents related to business and liquidation, shall be kept by an institution designated by the People's Bank of China after the cancellation of registration.

审计机关应当对被撤销的金融机构负责人进行审计。

Audit authorities shall conduct audits on the responsible persons of the dissolved financial institution.

被撤销的金融机构的高级管理人员和其他有关人员，利用职务上的便利收受他人财物、违法发放贷款、非法出具金融票证、徇私舞弊造成该金融机构被撤销的，依照刑法关于受贿罪、违法发放贷款罪、非法出具金融票证罪、徇私舞弊造成破产、亏损罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，给予撤职直至开除的纪律处分，并终身不得在任何金融机构担任高级管理职务或者与原职务相当的职务。

If senior management personnel and other relevant personnel of a dissolved financial institution, taking advantage of their positions, accept property from others, illegally grant loans, illegally issue financial instruments, or engage in malpractice for personal gain causing the dissolution of the financial institution, criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of accepting bribes, the crime of illegally granting loans, the crime of illegally issuing financial instruments, the crime of malpractice causing bankruptcy or losses, or other crimes; if the conduct does not constitute a crime, disciplinary sanctions of removal from office or even expulsion shall be imposed, and they shall be permanently prohibited from holding any senior management position or a position equivalent to the original position in any financial institution.

中国人民银行的工作人员违法审批金融机构，对金融机构不依法实施监督管理、不依法查处违法行为，情节严重、导致金融机构被撤销的，依照刑法关于滥用职权罪、玩忽职守罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，给予记大过、降级或者撤职的行政处分。

If personnel of the People's Bank of China illegally approve financial institutions, fail to exercise supervision and management over financial institutions according to law, or fail to investigate and deal with illegal acts according to law, and if the circumstances are serious, leading to the dissolution of the financial institution, criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of abuse of power, the crime of dereliction of duty, or other crimes; if the conduct does not constitute a crime, administrative sanctions of a major demerit, demotion, or removal from office shall be imposed.

任何国家机关工作人员非法干预金融机构的正常经营活动，对该金融机构被撤销负有直接责任的，依照刑法关于滥用职权罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，给予记大过、降级或者撤职的行政处分。

If any state organ personnel illegally interfere with the normal business activities of a financial institution and bear direct responsibility for the dissolution of the financial institution, criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of abuse of power or other crimes; if the conduct does not constitute a crime, administrative sanctions of a major demerit, demotion, or removal from office shall be imposed.

在撤销清算过程中，被撤销的金融机构工作人员有下列行为之一的，依照刑法关于妨害公务罪、妨害清算罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，给予撤职直至开除的纪律处分：

During the dissolution and liquidation process, if personnel of the dissolved financial institution commit any of the following acts, criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of obstructing public service, the crime of obstructing liquidation, or other crimes; if the conduct does not constitute a crime, disciplinary sanctions of removal from office or even expulsion shall be imposed:

(一)阻挠清算组依法履行职责的；

(1) Obstructing the liquidation team from performing its duties according to law;

(二)拒绝提供情况或者提供虚假情况的；

(2) Refusing to provide information or providing false information;

(三)抽逃资金、隐匿财产，逃避债务的；

(3) Illegally transferring funds, concealing property, or evading debts;

(四)恶意转移或者变相转移被撤销的金融机构财产的。

(4) Maliciously transferring or covertly transferring property of the dissolved financial institution.

被撤销的金融机构在撤销决定生效后非法从事经营活动的，由中国人民银行依照《非法金融机构和非法金融业务活动取缔办法》予以取缔；依照刑法关于非法吸收公众存款罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，依法给予行政处罚。

If a dissolved financial institution engages in illegal business activities after the dissolution decision takes effect, the People's Bank of China shall ban it in accordance with the Measures for Banning Illegal Financial Institutions and Illegal Financial Business Activities; criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of illegally absorbing public deposits or other crimes; if the conduct does not constitute a crime, administrative penalties shall be imposed according to law.

清算组的工作人员在清算过程中滥用职权、玩忽职守、徇私舞弊，造成财产损失，损害债权人利益的，依照刑法关于滥用职权罪、玩忽职守罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，给予降级直至开除的行政处分或者纪律处分。

If personnel of the liquidation team abuse their power, neglect their duties, or engage in malpractice for personal gain during the liquidation process, causing property losses and harming the interests of creditors, criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of abuse of power, the crime of dereliction of duty, or other crimes; if the conduct does not constitute a crime, administrative or disciplinary sanctions of demotion or even expulsion shall be imposed.

中国人民银行工作人员及其他有关人员在依照本条例履行职责中，泄露国家秘密或者所知悉的商业秘密的，依照刑法关于泄露国家秘密罪、侵犯商业秘密罪或者其他罪的规定，依法追究刑事责任；尚不够刑事处罚的，给予降级直至开除的行政处分或者纪律处分。

If personnel of the People's Bank of China or other relevant personnel, while performing their duties under these regulations, disclose state secrets or known trade secrets, criminal liability shall be pursued in accordance with the provisions of the Criminal Law on the crime of disclosing state secrets, the crime of infringing on trade secrets, or other crimes; if the conduct does not constitute a crime, administrative or disciplinary sanctions of demotion or even expulsion shall be imposed.

托管机构不履行托管职责，造成被撤销的金融机构财产损失的，应当依法承担民事责任，并对其负有责任的主管人员和其他直接责任人员依法给予纪律处分。

If a custodial institution fails to perform its custodial duties, causing property losses to the dissolved financial institution, it shall bear civil liability in accordance with the law, and disciplinary sanctions shall be imposed on the responsible persons in charge and other directly responsible persons in accordance with the law.

本条例自2001年12月15日起施行。

These Regulations shall come into force as of December 15, 2001.