Circular of the National Development and Reform Commission on strengthening the Record management of venture capital enterprises and strictly standardizing the fund-raising behavior of venture capital enterprises

Interim measures for the administration of "entrepreneurial http://www.aliyun.com/zixun/aggregation/11497.html" > Investment Enterprises (National development and Reform Commission, etc. ten Ministries Decree [2005] 39th, hereinafter referred to as "methods" Since the implementation of the March 1, 2006, the record management departments at all levels to carry out their duties conscientiously, in order to promote the development of investment enterprises to standardize the health and play an active role. However, the recent market there are some "to raise the Limited Partnership fund" and "engaged in agency business" and other illegal fund-raising activities in the name of the signs, individual record venture capital enterprises also into the. In order to strengthen the supervision of the record venture capital enterprises, and strictly standardize their fund-raising behavior, according to the provisions of the measures, the relevant matters are notified as follows:

First, strictly grasp the record conditions

The Record Management Department shall comply with the relevant provisions of the measures and strictly grasp the conditions for filing. Venture capital enterprises with the following problems are not to be filed:

(i) The scope of business is inconsistent with the provisions of article 12th of the measures.

(ii) The Paid-in capital and the pledged capital do not meet the minimum requirement or the contribution is not true under article nineth of the approach.

(c) The number of investors exceeds the upper limit stipulated in Nineth article Fourth of the PRC company Law, the PRC Partnership Enterprise law and the measures; a single investor invests less than 1 million yuan in a venture capital company, or a number of investors take stock or shares of a venture capital enterprise in the name of an investor.

(iv) The number and qualifications of senior executives who do not have the Nineth article fifth of the approach.

If the record is not in accordance with the conditions stipulated in the measures, it shall be ordered to correct within 30 working days;

Second, standardize the agency business

The Registered venture capital Enterprise shall, in strict accordance with the scope of Operation 12th of the measures, engage in venture capital business and shall not carry out any form of illegal fund-raising activities in the name of "Agent". In the case of the venture capital business of an agency or an individual, such as another venture capital enterprise, as stipulated in article 12th of the approach, the following requirements shall be met:

(a) The amount of a single agency or individual agent shall not be less than $10 million.

(b) In accordance with the relevant provisions of the general principles of civil law, the principal shall exercise the ownership of the assets represented and bear the corresponding responsibility.

(iii) No fixed income shall be committed.

(iv) Non-specific objects should not be targeted, through advertising (including in the venture capital of their own web site, in the Community posting notices, in commercial banks, securities companies, investment trusts and other agencies to put the recruitment instructions) and the holding of seminars, lectures and other disguised publicity methods.

Records Management department found that the record venture capital enterprise in the conduct of agency business in breach of any of the above requirements, should be ordered to correct within 30 working days, overdue correction, should cancel the record. Where suspected illegal fund-raising activities are involved, they shall promptly notify the local authorities of the illegal fund-raising. If the relevant department is identified as "illegally raising funds", the filing management department shall immediately cancel its record qualification.

Third, the establishment of the cancellation of the record venture capital Enterprise Information Disclosure System

For the cancellation of the registered venture capital Enterprise, the Record Management department shall announce its basic information and the list of the parties and senior executives on the website of the venture capital Enterprise, and announced the record Management Department of the State Council for the record of the venture capital Enterprise on the website of the State Council.

Iv. Strengthening irregular spot checks

The Record Management Department shall, in accordance with the provisions of the 27th of the "measures", strengthen the supervision of the registered venture capital enterprises, while carefully doing the annual inspection work of the registered venture capital Enterprises and their management consultancy organizations. The record of the number of venture capital enterprises in the quarterly check ratio shall not be less than 10%.

V. Establishment of a quarterly reporting system

The record management Department of the provincial level (including the Deputy provincial) shall, in accordance with regulation 28th of the measures, report to the State Council record Management department in time for the record management of the venture capital enterprises in the area under its jurisdiction. In addition to submitting the annual report on venture capital development to the State Council within 6 months after the end of each fiscal year, the following materials shall be submitted to the State Council for filing management in the 5 working days after the end of each quarter:

(a) The electronic text of the basic situation table of the record venture capital enterprise.

(b) The electronic text of the record of assets management of venture capital enterprises.

(c) A photocopy or electronic copy of the filing notice and the filing application material of the newly-recorded venture capital Enterprise last quarter.

(iv) The electronic text of the summary material of the investment operations reported by the venture capital enterprises in the last quarter, in accordance with article 26th of the measures, and the major issues of investment operations identified through irregular spot checks.

Where the cancellation of the record is to be cancelled, the electronic text of the basic situation table of the enterprise for the registration of venture capital shall be submitted to the State Council for filing Management department within 5 working days from the date of cancellation of the filing.

This notice is implemented from the date of issuance. The record management of the registered venture capital Management consultancy Enterprise and the regulation of its fund-raising behavior shall be carried out in accordance with the relevant provisions of the measures and in reference to this circular.

Provincial (including Vice-provincial) records management department in the end of August this year, the record venture capital enterprises to raise funds to comply with the relevant provisions of the situation, focus on a special inspection, and the results of the inspection report to my committee.