1. With regard to a foreign investor' merger and acquisition (M&A) of a domestic enterprise that falls under the scope of M&A security review specified in the Notice of the General Office of the State Council on Launching the Security Review System for Mergers and Acquisitions of Domestic Enterprises by Foreign Investors, the investor shall file an application with the Ministry of Commerce for M&A security review.
If the M&A is carried out by two or more foreign investors, they may jointly file an application with the Ministry of Commerce for M&A security review or designate one of the investors (hereinafter referred to as the "applicant") to do so.
If the M&A is carried out by two or more foreign investors, they may jointly file an application with the Ministry of Commerce for M&A security review or designate one of the investors (hereinafter referred to as the "applicant") to do so.
一、外國投資者并購屬于《國務院辦公廳關于建立外國投資者并購境內企業(yè)安全審查制度的通知》明確的并購安全審查范圍的境內企業(yè),應向商務部提出并購安全審查申請。
兩個或者兩個以上外國投資者共同并購的,可以共同或確定一個外國投資者向商務部提出并購安全審查申請(以下簡稱申請人)。
2. Where local commerce competent authorities handle applications for M&A transactions in accordance with the Provisions on Foreign Investors' Merger with and Acquisition of Domestic Enterprises, the Certain Provisions on Change of the Equity Interests of the Investors of A Foreign-Invested Enterprise, and other relevant provisions, if the concerned M&A transactions fall under the scope of security review while the applicants fail to file applications with the Ministry of Commerce for M&A security review, the concerned local commerce competent authorities shall temporarily refuse to accept the applications, require the applicants to file applications for M&A security review with the Ministry of Commerce, and report the relevant information to the Ministry of Commerce.
二、地方商務主管部門在按照《關于外國投資者并購境內企業(yè)的規(guī)定》、《外商投資企業(yè)投資者股權變更的若干規(guī)定》等有關規(guī)定受理并購交易申請時,對于屬于并購安全審查范圍,但申請人未向商務部提出并購安全審查申請的,應暫不受理并購交易申請,書面要求申請人向商務部提交并購安全審查申請,并將有關情況上報商務部。
3. Before filing an official application with the Ministry of Commerce for M&A security review, an applicant may request a negotiation with the Ministry of Commerce on the procedural issues concerning its M&A of a domestic enterprise.
三、在向商務部提出并購安全審查正式申請前,申請人可就其并購境內企業(yè)的程序性問題向商務部提出商談申請。
4. An applicant shall submit the following documents when filing an official application with the Ministry of Commerce for M&A security review:
(1) Written application for M&A security review and a statement describing the concerned M&A transaction, to which the signature of the legal representative of the applicant or authorized representative shall be affixed;
(2) Identity certification, registration certification, or credit worthiness certification documents of the foreign investor which have been notarized or certified in accordance with the law; identity certification document of the legal representative, or the power of attorney issued by the foreign investor and identity certification document of the authorized representative thereof;
(3) Statement on the information pertaining to the foreign investor and its associated enterprises (including its actual controller or parties acting in concert), and a statement on its relationship with the government of relevant countries;
(4) Statement on operating status of the target domestic enterprise, its articles of association, business license (photocopy), audited financial statements for the previous year, chart of its organizational structures prior to and after the M&A, and a statement on the operating status of enterprises invested by the target enterprise, and business licenses (photocopy) of such enterprises;
(5) Contract, articles of association, and partnership agreement of the foreign-invested enterprise to be established after the M&A, and the name list of members of the board of directors thereof appointed by the shareholders, and senior executives to be engaged such as the general manager, partners, etc.;
(6) In the case of M&A involving equity transfer, the equity transfer agreement or the agreement on subscription by the foreign investor for capital increase of the domestic enterprise, resolution of the shareholders' meeting or general meeting of shareholders of the target domestic enterprise, and the relevant asset evaluation report shall be submitted;
(7) In the case of M&A involving transfer of assets, the resolution of the ultimate decision-making body or property right owner of the concerned domestic enterprise approving the sale of the assets, assets purchase agreement (including the checklist and status of the assets to be purchased), statement on the information of each party to the agreement, and the relevant asset evaluation report shall be submitted;
(8) Statement on the impact of the voting rights enjoyed by the foreign investor after the M&A on the resolution of the shareholders' meeting, general meeting of shareholders, or the board of directors, or on the execution of partnership affairs, a statement on other situations that may result in the transfer of actual controlling rights related to business decision-making, financial matters, human resources, technologies, etc., to the foreign investor or its domestic or overseas associated enterprises, and the agreement or documents relevant to the abovesaid situations; and
(9) Other documents required by the Ministry of Commerce.
(1) Written application for M&A security review and a statement describing the concerned M&A transaction, to which the signature of the legal representative of the applicant or authorized representative shall be affixed;
(2) Identity certification, registration certification, or credit worthiness certification documents of the foreign investor which have been notarized or certified in accordance with the law; identity certification document of the legal representative, or the power of attorney issued by the foreign investor and identity certification document of the authorized representative thereof;
(3) Statement on the information pertaining to the foreign investor and its associated enterprises (including its actual controller or parties acting in concert), and a statement on its relationship with the government of relevant countries;
(4) Statement on operating status of the target domestic enterprise, its articles of association, business license (photocopy), audited financial statements for the previous year, chart of its organizational structures prior to and after the M&A, and a statement on the operating status of enterprises invested by the target enterprise, and business licenses (photocopy) of such enterprises;
(5) Contract, articles of association, and partnership agreement of the foreign-invested enterprise to be established after the M&A, and the name list of members of the board of directors thereof appointed by the shareholders, and senior executives to be engaged such as the general manager, partners, etc.;
(6) In the case of M&A involving equity transfer, the equity transfer agreement or the agreement on subscription by the foreign investor for capital increase of the domestic enterprise, resolution of the shareholders' meeting or general meeting of shareholders of the target domestic enterprise, and the relevant asset evaluation report shall be submitted;
(7) In the case of M&A involving transfer of assets, the resolution of the ultimate decision-making body or property right owner of the concerned domestic enterprise approving the sale of the assets, assets purchase agreement (including the checklist and status of the assets to be purchased), statement on the information of each party to the agreement, and the relevant asset evaluation report shall be submitted;
(8) Statement on the impact of the voting rights enjoyed by the foreign investor after the M&A on the resolution of the shareholders' meeting, general meeting of shareholders, or the board of directors, or on the execution of partnership affairs, a statement on other situations that may result in the transfer of actual controlling rights related to business decision-making, financial matters, human resources, technologies, etc., to the foreign investor or its domestic or overseas associated enterprises, and the agreement or documents relevant to the abovesaid situations; and
(9) Other documents required by the Ministry of Commerce.
四、在向商務部提出并購安全審查正式申請時,申請人應提交下列文件:
(一)經(jīng)申請人的法定代表人或其授權代表簽署的并購安全審查申請書和交易情況說明;
(二)經(jīng)公證和依法認證的外國投資者身份證明或注冊登記證明及資信證明文件;法定代表人身份證明或外國投資者的授權代表委托書、授權代表身份證明;
(三)外國投資者及關聯(lián)企業(yè)(包括其實際控制人、一致行動人)的情況說明,與相關國家政府的關系說明;
(四)被并購境內企業(yè)的情況說明、章程、營業(yè)執(zhí)照(復印件)、上一年度經(jīng)審計的財務報表、并購前后組織架構圖、所投資企業(yè)的情況說明和營業(yè)執(zhí)照(復印件);
(五)并購后擬設立的外商投資企業(yè)的合同、章程或合伙協(xié)議以及擬由股東各方委任的董事會成員、聘用的總經(jīng)理或合伙人等高級管理人員名單;
(六)為股權并購交易的,應提交股權轉讓協(xié)議或者外國投資者認購境內企業(yè)增資的協(xié)議、被并購境內企業(yè)股東決議、股東大會決議,以及相應資產評估報告;
(七)為資產并購交易的,應提交境內企業(yè)的權力機構或產權持有人同意出售資產的決議、資產購買協(xié)議(包括擬購買資產的清單、狀況)、協(xié)議各方情況,以及相應資產評估報告;
(八)關于外國投資者在并購后所享有的表決權對股東會或股東大會、董事會決議、合伙事務執(zhí)行的影響說明,其他導致境內企業(yè)的經(jīng)營決策、財務、人事、技術等實際控制權轉移給外國投資者或其境內外關聯(lián)企業(yè)的情況說明,以及與上述情況相關的協(xié)議或文件;
(九)商務部要求的其他文件。
5. Where the application documents for M&A security review submitted by an applicant are complete and meet the statutory requirements, the Ministry of Commerce shall notify the applicant in writing of the acceptance of the application.
Where the M&A transaction included in the application falls under the scope of M&A security review, the Ministry of Commerce shall notify the applicant in writing within 15 working days and, within the following five working days, file a request with the ministerial panel for the security review of M&As of domestic enterprises by foreign investors (hereinafter referred to as "Ministerial Panel") for review.
Within the 15 working days after the applicant is notified of the acceptance of the application, the applicant shall not proceed the M&A transaction, and the local commerce competent authority shall not conduct M&A review. After 15 working days, if the Ministry of Commerce has not sent a notice in writing to the applicant, the applicant may complete the relevant formalities in accordance with the relevant laws and regulations of the State.
Where the M&A transaction included in the application falls under the scope of M&A security review, the Ministry of Commerce shall notify the applicant in writing within 15 working days and, within the following five working days, file a request with the ministerial panel for the security review of M&As of domestic enterprises by foreign investors (hereinafter referred to as "Ministerial Panel") for review.
Within the 15 working days after the applicant is notified of the acceptance of the application, the applicant shall not proceed the M&A transaction, and the local commerce competent authority shall not conduct M&A review. After 15 working days, if the Ministry of Commerce has not sent a notice in writing to the applicant, the applicant may complete the relevant formalities in accordance with the relevant laws and regulations of the State.
五、申請人所提交的并購安全審查申請文件完備且符合法定要求的,商務部應書面通知申請人受理申請。
屬于并購安全審查范圍的,商務部在15個工作日內書面告知申請人,并在其后5個工作日內提請外國投資者并購境內企業(yè)安全審查部際聯(lián)席會議(以下簡稱聯(lián)席會議)進行審查。
自書面通知申請人受理申請之日起的15個工作日內,申請人不得實施并購交易,地方商務主管部門不得進行并購審查。15個工作日后,商務部未書面告知申請人的,申請人可按照國家有關法律法規(guī)辦理相關手續(xù)。
6. The Ministry of Commerce shall, upon the receipt of the written review opinions of the Ministerial Panel, notify an applicant (or parties concerned) and the relevant local commerce competent authority responsible for M&A administration of the same within five working days.
(1) Where the M&A will not have any impact on the national security, the applicant may complete the M&A formalities with the relevant department with the corresponding administration authority in accordance with the Provisions on Foreign Investors' Merger with and Acquisition of Domestic Enterprises, the Certain Provisions on Change of the Equity Interests of the Investors of A Foreign-Invested Enterprise, the Interim Provisions on Investment Made by Foreign-Invested Enterprises in China, and other relevant provisions;
(2) Where the M&A is likely to have impact on the national security, the applicant shall not apply for and proceed the concerned M&A transaction before completing appropriate adjustments to the M&A transaction, modification to the application documents and the formalities for re-examination; or
(3) Where the foreign investor's M&A of a domestic enterprise has already caused, or is likely to cause, serious impact on the national security, according to the review opinions of the Ministerial Panel, the Ministry of Commerce shall, in conjunction with other relevant departments, terminate the concerned transaction, or adopt equity or asset transfer or other effective measures to eliminate the influence of the said M&A on the national security.
(1) Where the M&A will not have any impact on the national security, the applicant may complete the M&A formalities with the relevant department with the corresponding administration authority in accordance with the Provisions on Foreign Investors' Merger with and Acquisition of Domestic Enterprises, the Certain Provisions on Change of the Equity Interests of the Investors of A Foreign-Invested Enterprise, the Interim Provisions on Investment Made by Foreign-Invested Enterprises in China, and other relevant provisions;
(2) Where the M&A is likely to have impact on the national security, the applicant shall not apply for and proceed the concerned M&A transaction before completing appropriate adjustments to the M&A transaction, modification to the application documents and the formalities for re-examination; or
(3) Where the foreign investor's M&A of a domestic enterprise has already caused, or is likely to cause, serious impact on the national security, according to the review opinions of the Ministerial Panel, the Ministry of Commerce shall, in conjunction with other relevant departments, terminate the concerned transaction, or adopt equity or asset transfer or other effective measures to eliminate the influence of the said M&A on the national security.
六、商務部收到聯(lián)席會議書面審查意見后,在5個工作日內將審查意見書面通知申請人(或當事人),以及負責并購交易管理的地方商務主管部門。
(一)對不影響國家安全的,申請人可按照《關于外國投資者并購境內企業(yè)的規(guī)定》、《外商投資企業(yè)投資者股權變更的若干規(guī)定》、《關于外商投資企業(yè)境內投資的暫行規(guī)定》等有關規(guī)定,到具有相應管理權限的相關主管部門辦理并購交易手續(xù)。
(二)對可能影響國家安全的,申請人未經(jīng)調整并購交易、修改申請文件并經(jīng)重新審查,不得申請并實施并購交易。
(三)外國投資者并購境內企業(yè)行為對國家安全已經(jīng)造成或可能造成重大影響的,根據(jù)聯(lián)席會議審查意見,商務部會同有關部門終止當事人的交易,或采取轉讓相關股權、資產或其他有效措施,以消除該并購行為對國家安全的影響。
7. After the Ministry of Commerce files a request with the Ministerial Panel for review, if the applicant modifies the relevant content of the application documents or cancels the M&A transaction, it shall submit to the Ministry of Commerce the transaction modification plan or M&A cancellation application. The Ministry of Commerce shall submit the same to the Ministerial Panel within five working days upon receipt of the application report and relevant documents.
七、在商務部向聯(lián)席會議提交審查后,申請人對申報文件有關內容做出修改或撤銷并購交易的,應向商務部提交交易修改方案或撤銷并購交易申請。商務部在收到申請報告及有關文件后,于5個工作日內提交聯(lián)席會議。
8. With regard to a foreign investor's M&A of a domestic enterprise, if the relevant departments under the State Council, national industrial associations, enterprises in the same trade, and other enterprises on the upstream and downstream sides believe it necessary to conduct the M&A security review, they may make proposals to the Ministry of Commerce on conducting the M&A security review, and submit a statement on the relevant information (including the basic information of the M&A, the specific influence on the national security, etc.). Where the M&A falls under the scope of security review, the Ministry of Commerce shall, according to the decision of the Ministerial Panel, require the foreign investor to file an application for M&A security review in accordance with these Provisions.
八、外國投資者并購境內企業(yè),國務院有關部門、全國性行業(yè)協(xié)會、同業(yè)企業(yè)及上下游企業(yè)認為需要進行并購安全審查的,可向商務部提出進行并購安全審查的建議,并提交有關情況的說明(包括并購交易基本情況、對國家安全的具體影響等)。屬于并購安全審查范圍的,商務部應在5個工作日內將建議提交聯(lián)席會議。聯(lián)席會議認為確有必要進行并購安全審查的,商務部根據(jù)聯(lián)席會議決定,要求外國投資者按本規(guī)定提交并購安全審查申請。
9. With regard to a foreign investor's application for M&A of a domestic enterprise that was not submitted to the Ministerial Panel for review or the Ministerial Panel believed would not have any impact on the national security after review, if the M&A falls under the security review scope specified in the Notice of the General Office of the State Council on Launching the Security Review System for Mergers and Acquisitions of Domestic Enterprises by Foreign Investors due to adjustment to the M&A transaction, modification of relevant agreement or document, or other factors after the M&A deal has been in progress, the parties concerned shall suspend the transaction, and the foreign investor shall file an application with the Ministry of Commerce for M&A security review.
九、外國投資者并購境內企業(yè)申請未被提交聯(lián)席會議審查,或聯(lián)席會議審查認為不影響國家安全的,若此后因調整并購交易、修改有關協(xié)議或文件等因素,導致該并購交易屬于《國務院辦公廳關于建立外國投資者并購境內企業(yè)安全審查制度的通知》明確的并購安全審查范圍的,當事人應當停止交易,由外國投資者按照本規(guī)定向商務部提交并購安全審查申請。
10. With regard to matters that are not covered in these Provisions, the Notice of the General Office of the State Council on Launching the Security Review System for Mergers and Acquisitions of Domestic Enterprises by Foreign Investors shall apply.
十、本規(guī)定未盡事宜,按照《國務院辦公廳關于建立外國投資者并購境內企業(yè)安全審查制度的通知》執(zhí)行。
11. These Provisions shall come into force on March 5, 2011, and remain valid until August 31, 2011.
十一、本規(guī)定自2011年3月5日起實施,有效期至2011年8月31日。
