| 第一条 为了规范涉及外商投资企业合并与分立的行为，保护企业投资者和债权人的合法权益，根据《中华人民共和国公司法》和有关外商投资企业的法律和行政法规，制定本规定。
第二条 本规定适用于依照中国法律在中国境内设立的中外合资经营企业、个有法人资格的中外合作经营企业、外资企业、外商投资股份有限公司（以下统称公司）之间合并或分立。
公司与中国内资企业合并，参照有关法律、法规和本规定办理。
第三条 本规定所称合并，是指两个以上公司依照公司法有关规定，通过订阅协议而姨并成业一个公司。
公司合并可以采取吸收合并和新设合并两种方式。
吸收合并，是指公司接纳其他公司加入本公司，接纳方继续存在，加入方解散。
新设合并，是指两个以上公司合并并设立一个新的公司，合并各方解散。
第四条 本规定所称分立，是指一个公司依照公司法有关规定，通过公司最高权力机构决议分成两个以上的公司。
公司分立可以采取存续分立和解散分立两种形式。
存续分立，是指一个公司分离成两个以上公司，本公司继续存在并设立一个以上新的公司。
解散分立，是指一个公司分解为两个以上公司，本公司解散并设立两个以上新的公司。
第五条 公司合并或分立，应当遵守中国的法律、法规和本规定，遵循自愿、平等和公平竞争的原则，不得损害社会公共利益和债权人的合法权益。
公司合并或分立，应符合《指导外商投资方向暂行规定》和《外商投资产业指导目录》的规定，不得导致外国投资者在不允许外商独资、控股或占主导地位的产业的公司中独资控股或占主导地位。
公司因合并或分立而导致其所从事的行业或经营范围发生变更的，应符合有关法律、法规及国家产业政策的规定并办理必要的审批手续。
第六条 公司合并或分立，应当符合海关、税务和外汇管理等有关部门颁布的规定。合并或分立后存续或新设的公司，经审批机关、海关和税务等机关核定，继续享受原公司所享受的各项外商企业待遇。
第七条 公司合并或分立，须经公司原审批机关批准并列登记机关办理有关公司设立、变更或注销登记。
拟合并公司的原审批机关或登记机关有两个以上的，由合并后公司住所地对外经济贸易主管部门和国家工商行政管理总局（以上简称国家工商总局）授权的登记机关作为审批和登记机关。
拟合并公司的投资总额之和超过公司原审批机关或合并后公司住所地审批审批权限的，由具有相庆权限的审批机关审批。
拟合并的公司至少有一家为股份有限公司的，由中华人民共和国对外贸易经济合作部（以下简称外经贸部）审批。
第八条 因公司合并或分立而解散原公司或新设异地公司，须征求拟解散或拟设立公司的所在地审批机关的意见。
第九条 在投资者按照公司合同、章程规定缴清出资、提供合作条件且实际开始生产、公司之间不得合并，公司不得分立。投资者已经按照公司合同、章程规定缴付出资、提供合作条件的，公司可以与中国内资企业合并。
第十条 有限责任公司之间合并后限责任公司。股份有限公司之间合并后为股份有限公司。
上市的股份有限公司与有限责任公司合并后为股份有限公司。非上市的股份有限公司与有限责任公司合并后可以是股份有限公司，也可以是有限责任公司。
第十一条 股份有限公司之间合并或者公司合并后为有限责任公司的，合并后公司的注册资本为原公司注册资本额之和。
有限责任公司与股份有限公司合并后为股份有限公司的，合并后公司的注册资本为原有限责任公司净资产额根据拟合并的股份有限公司每股所含净资产额折成的股份额与原股份有限公司股份总额之和。
第十二条 根据本规定第十一条第一款合并的，各方投资者在合并后的公司中股权比例，根据国家有关规定，由投资者之间协商或根据资产评估机构对其在原公司股权价值的评估结果，在合并后的公司合同、章程中确定，但外国投资者的股权比例不得低于合并后公司注册资本的百分之二十五。
第十三条 分立后公司的注册资本额，由分立前公司的最高权力机构，依照有关外商企业法律、法规和登记机关的有关规定确定，但分立后各公司的注册资本额之和应为分立前公司的注册资本额。
第十四条 各方投资者在分立后的公司中的股权比例，由投资者在分立后的公司合同、章程中确定，但外国投资者的股权比例不得低于分立后公司注册资本的百分之二十五。
第十五条 公司合并，采取吸收合并形式的，接纳方公司的成立日期为合并后公司的成立日期；采取新设合并形式的，登记机关核准设立登记并签发营业执照的日期为合并后公司的成立日期。
因公司分立而设立新公司的，登记机关核准设立登记并签发营业执照的日期为分立后公司的成立日期。
第十六条 涉及上市的股份有限公司合并或分立的，应当符合有关法律、法规和国务院证券监督管理部门对上市公司的规定并办理必要的审批手续。
第十七条 公司与中国内资企业合并必须符合我国利用外资的法律、法规规定和普政策要求并具备以下条件：
（一）拟合并的中国内资企业是依照《中华人民共和国公司法》规范组建的有限责任公司或股份有限公司；
（二）投资者符合法律、法规和部门规章对合并后公司所从事有关产业的投资者资格要求；
（三）外国投资者的股权比例不得低于合并后公司注册资本的百分之二十五；
（四）合并协议各方保证拟合并公司的原有职工充分就业或给予合理安置。
第十八条 公司与中国内资企业合并后为外商投资企业，其投资总额为原公司的投资总额与中国内资企业财务审计报告所记载的企业资产总额之和。合并后的公司注册资本与投资总额比例，应当符合国家工商总局《关于中外合资经营企业注册资本与投资总额比例的暂行规定》；在特殊情况下，不能执行该规定的，须经外经贸部会同国家工商总局批准。
第十九条 与公司合并的中国内资企业已经投资设立的企业，成为合并后公司所持股的企业，应当符合中国利用外资的产业政策要求和《关于外商投资企业境内投资的暂行规定》。合并后的公司不得在禁止外商投资产业的企业中持有股权。
第二十条 公司吸收合并，由接纳方公司作为申请人，公司新设合并，由合并各方协商确定一个申请人。
申请人应向审批机关报送下列文件：
（一）各公司法定代表人签署的关于公司合并的申请书和公司合并协议；
（二）各公司最高权力机构关于公司合并的决议；
（三）各公司合同、章程；
（四）各公司的批准证书和营业执照复印件；
（五）由中国法定验资机构为各公司的出具的验资报告；
（六）各公司的资产负债表及财产清单；
（七）各公司上一年度的审批报告；
（八）各公司的债权人名单；
（九）合并后的公司合同、章程；
（十）合并后的公司最高权力机构成员名单；
（十一）审批机关要求报送的其他文件。
公司与中国内资企业合并的， 申请人还应向审批机关报送拟合并的中国内资企业已投资设立企业的营业执照复印件。
第二十一条 公司合并协议应包括下列主要内容：
（一）合并协议各方的名称、住所、法定代表人；
（二）合并后公司的名称、住所、法定代表人；
〔三）合并后公司的投资总额和注册资本；
（四）合并形式；
（五）合并协议各方债权、债务的承继方案；
（六）职工安置办法；
（七）违约责任；
（八）解决争议的方式；
（九）签约日期、地点；
（十）合并协议备方认为需要规定的其他事项。
第二十二条 拟合并的公司有两个以上原审批机关的，拟解散的公司应当在依照本规定第十八条向审批机关报送有关文件之前， 向其原审批机关提交因公司合并而解散的申请。
原审批机关应自接到前款有关解散申请之日起十五日内做出是否同意解散的批复。超过十五日 ，原审批机关未作批复的， 视作原审批机关同意该公司解散。
如果原审批机关在前款规定期限内， 作出不同意有关公司解散的批复拟解散公司可将有关解散申请提交原审批机关与公司合并的审批机关共同的上一级对外经济贸易主管部门 ，该部门应自接到有关公司解散申请之日起三十日内作出裁决。
如果审批机关不同意或不批准公司合并，则有关公司解散的批复自行失效。
第二十三条 拟分立的公司应向审批机关报送下列文件；
（一）公司法定代表人签署的关于公司分立的申请书；
（二）公司最高权力机构关于公司分立的决议；
（三）因公司分立而拟存续、新设的公司（以下统称分立协议各方）签订的公司分立协议；
（四）公司合同、章程；
（五）公司的批准证书和营业执照复印件；
（六）由中国法定验资机构为公司出具的验资报告；
（七）公司的资产负债表及财产清单；
（八）公司的债权人名单；
（九）分立后的各公司合同、章程；
（十）分立后的各公司最高权力机构成员名单；
（十一）审批机关要求报送的其他文件。
因公司分立而在异地新设公司的，公司还必须向审批机关报送拟设立公司的所在地审批机关对因分立而新设公司签署的意见。
第二十四条 公司分立协议应包括下列主要内容；
（一）分立协议各方拟定的名称、住所、法定代表人；
（二）分立后公司的投资总额和注册资本；
（三）分立形式；
（四）分立协议各方对拟分立公司财产的分割方案；
（五）分立协议各方对拟分立公司债权、债务的承继方案；
（六）职工安置办法；
（七）违约责任；
（八）解决争议的方式；
, （九）签约日期、地点；
（十）分立协议各方认为需要规定的其他事项。
第二十五条 合并后存续的公司或者新设的公司全部承继国合并而解散的公司的债权、债务。
分立后的公司按照分立协议承继原公司的债权、债务。
第二十六条 审批机关应自接到本规定第十八条或第二十一条规定报送的有关文件之曰起四十五日内。以书面形式作出是否同意合并或分立的初步批复。
公司合并的审批机关为外经贸部的，如果外经贸部认为公司合并具有行业垄断的趋势或者可能形成就某种特定商品或服务的市场控制地位而妨碍公平竞争，可于接到前款所述有关文件后，召集有关部门和机构，对拟合并的公司进行听证并对该公司及其相关市场进行调查。前款所述审批期限可延长至一百八十天。
第二十七条 拟合并或分立的公司应当自审批机关就同意公司合并或分立作出初步批复之日起十日内，向债权人发出通知书，并于三十日内在全国发行的省级以上报纸上?辽俟嫒巍?
公司应在上述通知书和公告中说明对现有公司债务的承继方案。
第二十八条 公司债权人自接到本规定第二十五条所述通知书之日起三十日内、未接到通知韦的债权人自第一次公告之曰起九十日内，有权要求公司对其债务承继方案进行修改 或者要求公司清偿债务或提供相应的担保。
如果公司债权人未在前款规定期限内行使有关权利，视为债权人同意拟合并或分立公司的债权、债务承继方案，该债权人的主张不得影响公司的合并或分立进程。
第二十九条 拟合并或分立的公司自第一次公告之日起九十日后。公司债权人无异议的，拟合并公司的申请人或拟分立的公司应向审批机关提交下列文件；
（一）公司在报纸上三次登载公司合并或分立公告的证明；
（二）公司通知其债权人的证明；
（三）公司就其有关债权、债务处理情况的说明；
（四）审批机关要求提交的其他文件。
第三十条 审批机关应自接到本规定第二十七条所列文件之曰起三十日内，决定是否批准公司合并或分立。
第三十一条 公司采取吸收合并形式的。接纳方公司应到原审批机关办理外商投资企业批准证书变更手续并到登记机关办理公司变更登记；加入方公司应到原审批机关缴销外商投资企业批准证书并到登记机关办理公司注销登记。
公司采取新设合并形式的r台并各方公司应到原审批机关缴销外商投资企业批准证书并到登记机关办理公司注销登记新设立的公司应通过申请人到审批机关领取外商投资企业批准证书并到登记机关办理公司设立登记。
公司采取存续分立形式的，存续的公司应到审批机关办理外商投资企业批准证书变更手续并到登记机关办理公司变更登记新设立的公司应到审批机关领取外商投资企业批准证韦并到登记机关办理公司设立登记。
公司采取解散分立形式的，原公司应到原审批机关缴销外商投资企业批准证书并到登记机关办理公司注销登记新设立的公司应到审批机关领取外商投资企业批准证书并到登记机关办理公司设立登记。
公司与中国内资企业合并的仅由公司办理有关外商投资企业批准证书手续。
第三十二条 公司合并的申请人或拟分立的公司 应自审批机关批准合并或分立之日起三十日内，就因合并或分立而解散、存续或新设公司的事宜 到相应的审批机关办理有关缴销、变更或领取外商投资企业批准证书手续。
第三十三条 公司应自缴销、变更或领取外商投资企业批准证书之曰起、依照《中华人民共和国企业法人登记管理条例》和《中华人民共和国公司登记管理条例》等有关规定，到登记机关办理有关注销、变更或设立登记手续。
设立登记应当在有关公司变更、注销登记办理完结后进行。
公司合并或分立协议中载明的有关公司财产处置方案及债权、债务承继方案和审批机关批准公司合并或分立的文件，视为注销登记所需提交的清算报告。
第三十四条 公司为新设台并或分立办理注销、变更登记后，当事人不依法办理有关公司设立登记的，应承担相应的法律责任。
第三十五条 公司投资者因公司合并或分立而签署的修改后的公司合同、章程自审批机关变更或核发外商投资企业批准证韦之日起生效。
第三十六条 合并或分立后存续或新设的公司应自变更或领取营业执照之日起三十日内，向团合并或分立而解散的公司之债权人和债务人发出变更债务人和?ㄈ说耐ㄖ⒃谌⑿械氖〖兑陨媳ㄖ缴瞎妗?
第三十七条 合并或分立后存续或新设的公司应自换发或领取营业执照之日起三十日内，到税务、海关、土地管理和外汇管理等有关机关办理相应的登记手续。
公司与中国内资企业合并的，存续或新设的公司，还应根据有关外商投资企业的规定，到税务、海关、土地管理和外汇管理等机关。办理相关的审核手续。
第三十八条 在公司合并或分立过程中发生股权转让的。依照有关法律、法规和外商投资企业投资者股权变更的规定办理。
在公司与中国内资企业合并过程中、外国投资者购买内资企业股东股权的，其股权购买主的支付条件r依照《＜中外合资经营企业合营各方出资的若干规定＞的补充规定》执行。
第三十九条 香港、澳门、台湾地区的投资者在中国其他地区投资举办的公司合并或分立。参照本规定办理。
第四十条 本规定由外经贸部和国家工商总局负责解释。
第四十一条 本规定自发布之日起执行。
Provisions on The Merger And Division of Enterprises with Foreign Investment
Article 1 These Provisions are formulated in accordance with the Company Law of the People''s Republic of China and the laws and administrative regulations concerning enterprises with foreign investment for the purpose of regulating the acts relating to the merger and division of enterprises with foreign investment and protecting the legitimate rights and interests of the investors and creditors thereof.
Article 2 These Provisions shall apply to the merger or division of Chinese-foreign equity joint ventures, incorporated Chinese-foreign contractual joint ventures, foreign-capital enterprises and joint stock limited companies with foreign investment (hereinafter referred to as companies) that have been set up within the territory of the People''s Republic of China in accordance with the laws of the land.
The merger of such a company with a Chinese-invested company shall be handled with reference to the relevant laws, administrative regulations and these Provisions.
Article 3 The term "merger" as used in these Provisions refers to the consolidation through the conclusion of agreements into one company of two or more companies in accordance with the relevant provisions of the Company Law.
The merger of companies may be achieved in two forms: merger by absorption or merger by new establishment.
Merger by absorption refers to a company that absorbs other companies as its own future components, the absorbing company continues to exist while the participating ones are dissolved.
Merger by new establishment refers to the merging of two or more companies into a new company, with all the participating companies dissolved after the establishment of the new company.
Article 4 The term "division" as used for the purpose of these Provisions refers to the splitting up of a company into two or more companies in accordance with the relevant provisions of the Company Law and on the resolution of the organ of supreme power of the company.
The division of a company may take the form of division by continued existence or division by dissolution.
Division by continued existence refers to the division of a company where the original company exists after it has been split up into two or more companies, and more than one new companies have been set up thereafter.
Division by dissolution refers to the division of a company where the original company has been split up into two or more companies, and more than two new companies are established thereafter.
Article 5 The merger or division of companies shall be carried out in strict observance of the laws and administrative regulations of China and these Provisions, and on the basis of the principle of free, equal and fair competition, and the public interests of society and the legitimate rights and interests of the creditors shall not be jeopardized.
The merger or division of companies must be in conformity with the provisions in the Interim Provisions on Orienting Foreign Investments and the Catalog of Guidance to Industries for Foreign Investment, and it shall not lead to the sole ownership, controlling interest or predominance of foreign investors in the companies of the industries where sole ownership, controlling interest or predominance of foreign investors are prohibited.
Where the merger or division of a company has resulted in changes in the line of business it has operated in and its business scope, such a merger or division shall have to conform to the provisions of the relevant laws, administrative regulations and the pertinent industrial policies and the necessary procedures of examination and approval must be performed.
Article 6 The merger or division of a company shall be in compliance with the provisions promulgated by such administrative departments as the Customs, tax and foreign exchange control. The companies that have either survived the division or emerged from the merger as newly established companies shall continue to enjoy the treatment for enterprises with foreign investment the original companies enjoyed upon the verification by the examining and approving departments and such administrative departments as the Customs, tax and foreign exchange control.
Article 7 The merger or division of a company shall be examined and approved by the original examining and approving authorities and the procedures of registration relating to the establishment, changes or cancellation thereof shall be executed by the relevant registration department.
Where there are two or more examining and approving departments or registration departments over the companies to be merged, the registration department authorized by the competent department of foreign trade and economic relations and the state administration for industry and commerce (hereinafter referred to as the SAFIAC) in the locality where the companies are located shall act as the examining and approving and registration authorities.
Where the total amount of investment of the companies to be merged exceeds the authority of the original examining and approving department or that of the examining and approving department in the locality where the merged company is situated, the examination and approval shall be performed by the examining and approving department that has the corresponding authority to do so.
Where at least one of the companies to be merged is a joint stock company, the merger shall be examined and approved by the Ministry of Foreign Trade and Economic Relations (hereinafter referred to as the MOFTEC) of the People''s Republic of China.
Article 8 The opinions of the examining and approving departments in the localities where the company to be dissolved or to be established is situated shall be solicited with regard to the dissolution of the original companies or the establishment of new companies in other places.
Article 9 No merger or division shall be effected before the investors of the company have come current with their investment contributions in accordance with the provisions in their contracts orArticle of association, and provided the conditions for cooperation, and the company has become operative in either production or business.
Article 10 The company that emerges from the merger between two or more liability limited companies shall be a liability limited company.
The company that emerges from the merger of two or more joint stock companies shall be a joint stock company. The company emerging from the merger between a listed joint stock company and a limited liability company shall be a joint stock company. The company that emerges from the merger between an unlisted joint stock company and a limited liability company may either be a joint stock company or a limited liability company.
Article 11 Where a joint stock company is merged with another joint stock company or the company emerging from the merger becomes a limited liability company, the merged company''s registered capital shall be the sum total of the amounts of the registered capital of the original companies.
Where a joint stock company emerges from the merger of a limited liability company with a joint stock company, the registered capital of the company after the merger shall be the amount of equity into which the net asset amount of the original limited liability company is converted on the basis of the net asset as contained in each share of the joint stock company which is to emerge from the merger and the amount of equity of the original joint stock company.
Article 12 The proportions of equity of the investors in the new company that emerges from the merger of companies in accordance with Paragraph 1 ofArticle 11 of these Provisions shall, in keeping with the relevant state provisions, be determined through consultation among the various investors or be set forth in their contracts orArticle s of association of the new company on the basis of the outcome of the valuation of the values of the equity of the investors in the original companies. However, the proportion of equity of the foreign investor shall not be less than 25% of the registered capital of the emerging company.
Article 13 The amounts of the registered capital of the companies emerging from the division shall be determined by the organ of supreme power of the original company in accordance with the provisions of the laws, administrative regulations governing enterprises with foreign investment and the provisions of the relevant registration department. However, the sum total of the registered capital of the companies that come into being as a result of the division shall be the total amount of the registered capital of the original company.
Article 14 The proportions of equity of the various investors in the new companies emerging from the division shall be determined by the investors in the contracts orArticle s of association of the new companies. However, the proportion of equity of the foreign investor in a new company shall not be less than 25% of the registered capital of the new company after the division.
Article 15 The date of incorporation of the new company derived from the merger shall be that of the absorbing company if the company is formed by absorption merger; the date of incorporation of the new company derived from the merger shall be the date on which the registration department approves the registration of the incorporation and issues the business license if the new company is formed through merger by new establishment.
The date of incorporation of the new company established as a result of the division shall be the date on which the registration department approves the registration of its incorporation and issues the business license.
Article 16 The merger or division involving listed joint stock companies shall conform to the pertinent laws and administrative regulations and the provisions on listed companies of the state securities regulatory authorities and be subjected to the necessary procedures for examination and approval.
Article 17 The merger between a foreign-invested company and a domestic Chinese-invested company must be in conformity with the provisions of the relevant laws and administrative regulation governing the utilization of foreign investment in China and with the requirements of the industrial policies, and must meet the following conditions:
1. The Chinese company to be merged with must either be a limited liability company or a joint stock company set up in accordance with the norms of the Company Law of the People''s Republic of China;
2. The investors of the new company emerging from the merger shall satisfy the qualification requirements as contained in the relevant laws, administrative regulations and sector regulations for investors in the relevant industry the new company is engaged in;
3. The equity proportion of foreign investors in the new company shall be no less than 25% of the registered capital of the new company resulting from the merger; and
4. All the parties to the merger agreement shall see to it that the original employees of the companies to be merged are fully re-employed or reasonably re-assigned to jobs.
Article 18 The absorbing company shall be the applicant for a merger by absorption, while the applicant for a merger by new establishment shall be designated and determined by all the parties to the merger.
The applicant shall submit the following documents to the examining and approving department:
1. the letter of merger application and the merger agreement signed by the legal representatives of the various companies;
2. the resolutions on the merger by the organs of supreme power of the companies;
3. the contracts andArticle s of association of the companies;
4. photocopies of the documents of approval and business licenses of the companies;
5. the asset inspection reports prepared and issued by the statutory Chinese asset inspection agencies to the companies party to the merger;
6. the asset and liability statements and the inventories of the properties of the companies party to the merger;
7. the audit reports of the previous year for the companies party to the merger;
8. a name list of the creditors of the companies party to the merger;
9. the contract andArticle s of association of the company emerging from the merger;
10. a name list of the members of the organ of supreme power of the company emerging from the merger; and
11. other documents the examining and approving department may require.
Article 19 The agreement on the merger of companies shall contain the following major items:
1. the titles, addresses and legal representatives of the parties to the agreement;
2. the title, address and legal representative of the company emerging from the merger;
3. the total investment and registered capital of the company after the merger;
4. the form of merger;
5. the inheritance plans for the credit and debts of the parties to the merger agreement;
6. the method of placements for the employees;
7. liabilities for the breach of the agreement;
8. methods for dispute settlement;
9. the date and place for the signature of the agreement; and
10. other items that the parties to the agreement think must be provided for.
Article 20 A company that is to be dissolved due to the merger with another company shall apply to its original examining and approving department for the dissolution resulting from the merger prior to the submission of the required documents in accordance with the provisions inArticle 18 of these Provisions to the examining and approving departments if it has two or more original examining and approving departments.
The original examining and approving departments shall, within 15 days as of receipt of the relevant application for dissolution as prescribed in the preceding paragraph, reply in writing as to whether they approve or disprove the application for dissolution. Failure of the examining and approving departments to reply within 15 days shall be taken as consent from the examining and approving departments of the dissolution of the company.
Where the examining and approving departments have, within the prescribed time limit, replied in writing that they disproved the dissolution of the company, the company to be dissolved shall submit the application for dissolution to the competent department of foreign trade and economic cooperation at a higher level over both the original examining and approving departments and the examining and approving department of corporate mergers. The competent department of foreign trade and economic cooperation shall adjudicate on the dissolution within 30 days as of the date of receipt of the application for dissolution of the company concerned.
The approval of the dissolution of the company concerned shall be automatically invalidated if the examining and approving department has not granted consent or approval of the merger of the companies.
Article 21 A company to be divided up shall submit the following documents to the examining and approving department:
1. a letter of application for the division of the company signed by its legal representative;
2. the resolution of the organ of supreme power of the company on its division;
3. the agreement on the division of the company signed by the company to remain in existence and the company to be established (hereinafter referred to as parties to the division agreement) following the division of the company;
4. the contract andArticle s of association of the company;
5. photocopies of the approval certificate and business license of the company;
6. the asset examination report prepared by the statutory asset examination agency of China;
7. the asset and liability statement and the asset inventory of the company;
8. a name list of the company''s creditors;
9. the contracts andArticle s of association of the companies emerging from the division;
10. name lists of the members of the organs of supreme power of the companies emerging from the division; and
11. other documents required by the examining and approving department.
Where a new company is to be set up in a different place as a result of the division of the company, the company must also submit to the examining and approving department the written comments on the establishment of the new company by the examining and approving department in the place where the new company is to be located.
Article 22 The agreement on the division of a company shall mainly consist of the following items:
1. the tides, addresses and legal representatives proposed by the parties to the division agreement;
2. the total amount of investment and registered capital of the companies after the division;
3. the mode of division;
4. the partitioning plan of the assets of the company to be divided up as agreed to by the parties to the division agreement;
5. the inheritance plans of the parties to the division agreement for the credit and debts of the company to be divided up;
6. the employee settlement plan;
7. liabilities for the non-performance of the agreement;
8. method of dispute settlement;
9. date and place for the signing of the agreement; and
10. other items that the parties to the division agreement believe should be provided for.
Article 23 The surviving company after the merger or the newly established company shall take over all the credits and debts of the company that has been dissolved because of the merger.
The new companies emerging from the division shall take over the credits and debts of the original company in accordance with the division agreement.
Article 24 The examining and approving department shall, within 45 days as of the date of receipt of the documents as prescribed inArticle s 18 or 21 of these Provisions, make a preliminary written reply as to whether it agr, ees to the proposed merger or division.
Where the Ministry of Foreign Trade and Economic Cooperation is the examining and approving department of corporate mergers, the MOFTEC may, upon receipt of the documents as listed in the preceding paragraph, organize the relevant departments and agencies to hear the case of proposed corporate merger and conduct investigations into the company and the related market if the MOFTEC thinks that the corporate merger tends towards industry monopoly or it may constitute a predominant position in the market for particular commodities or services, which will hamper fair competition. The time limit for examination and approval as prescribed in the preceding paragraph shall then be extended to 180 days.
Article 25 The companies to be merged or divided shall, within 10 days as of the date of receipt of the preliminary reply from the examining and approving department consenting the proposed merger or division, send out letters of notification to the creditors, and shall, within 30 days have the announcement carried three times in nationally circulated newspapers at or above the provincial level.
The companies shall explain the inheritance plan for the existing debts of the companies in the letters of notification and announcement mentioned above.
Article 26 The creditors of the companies shall, within 30 days as of the date of receipt of the letters of notification as prescribed inArticle 25 of these Provisions or within 90 days as of the first publication of the announcement in the absence of the letters of notification, have the right to demand that the companies in question revise their inheritance plans for the existing debts or demand that they come current with the debt payments or they provide corresponding financial guarantees.
If creditors of the companies have failed to exercise the rights as prescribed in the preceding paragraph within the stipulated time limits, it shall therefor be construed that the creditors have agreed to the inheritance plans for the existing credit and debts of the companies to be merged or divided, and that the propositions of the creditors shall not in any way affect the merger or division processes of the companies.
Article 27 The applicant of the companies to be merged or the company to be divided shall, at the end of the 90-day period as of the date of the first publication of the announcements, submit the following documents to the examining and approving departments in the absence of objections from the creditors:
1. certificates of the three-time publication in newspapers of the announcements of corporate merger or division;
2. certificates of the notification of the companies to their creditors;
3. an explanation of the companies on the disposal of their credits and debts; and
4. other documents the examining and approving department may require.
Article 28 The examining and approving department shall, within 30 days as of the date of receipt of the documents as listed inArticle 27 of these Provisions, decide whether it approves or disproves the proposed merger or division.
Article 29 Where the corporate merger is achieved by absorption, the accepting company shall have the approval certificate for enterprises with foreign investment altered at the original examining and approving department and have the alteration registered at the registration department; the participating company shall have its approval certificate for enterprises with foreign investment withdrawn at the original examining and approving department and have the cancellation of the company registered at the registration department.
Where the merger is achieved by new establishment, the parties to the merger shall have their approval certificates for enterprises with foreign investment withdrawn at the original examining and approving departments and have the cancellation of their companies registered at the registration department; the new company emerging from the merger shall, through its applicant, acquire the approval certificate for enterprises with foreign investment from the examining and approving department and have the establishment of the company registered at the registration department.
Where the corporate division is achieved through continued existence, the company that is to continue to exist shall have the approval certificate for enterprises with foreign investment altered at the examining and approving department and have the alteration registered at the registration department; the newly established companies shall acquire the approval certificate for enterprises with foreign investment from the examining and approving department and have the establishment of the companies registered at the registration department.
Where the corporate division is achieved through dissolution, the original company shall have the approval certificate for enterprises with foreign investment withdrawn at the original examining and approving department and have the cancellation of the company registered at the registration department; the newly established companies shall acquire the approval certificates for enterprises with foreign investment from the examining and approving department and have the establishment of the new companies registered at the registration department.
Article 30 Applicants of the companies to be merged or the companies to be divided shall, within 30 days as of the date of approval of the merger or division, go through the procedures relating to the cancellation, alteration or the attainment of the approval certificates for enterprises with foreign investment at the examining and approving departments for the companies that are dissolved, continue to exist or to be newly established as a result of the merger or division.
Article 31 Companies shall, as of the date of dissolution, alteration or the attainment of the approval certificates for enterprises with foreign investment, have the cancellation, alteration or establishment registered at the registration department in accordance with the provisions in the Regulations of the People''s Republic of China on the Administration of the Registration of the Legal Persons of Companies and the Regulations of the People''s Republic of China on the Administration of the Registration of Companies and other pertinent provisions.
The registration of the establishment of companies shall proceed upon completion of the registration of the alteration or cancellation of the companies in question.
The settlement plans for the properties of the companies concerned and the inheritance plans for the credits and debts thereof as written into the merger agreement or division agreement, and the documents issued by the examining and approving departments approving the merger or division of the companies shall be regarded as the liquidation reports required for the registration of the cancellation.
Article 32 The parties to the merger or division shall bear the corresponding legal responsibility if they have failed to go through the procedures relating to the registration of the establishment, upon completion of the registration of cancellation or alteration, of new companies emerging from the merger or division.
Article 33 The contracts orArticle s of association the investors of the company have signed after due revision following the merger or division of the company shall be effective as of the date of the alteration or the issuance of the approval certificate for enterprises with foreign investment by the examining and approving department.
Article 34 A company that is to continue to exist or a company to be established after the merger or division shall, within 30 days as of the date of alteration or the acquisition of the business license, issue letters of notification on the change of creditors and debtors to the creditors or debtors of the companies that have been dissolved because of the merger or division, and have the announcement carried in nationally circulated newspapers at or above the provincial level.
Article 35 The company to continue to exist or to be established after the merger or division shall, within 30 days as of the date of the acquisition of replacement business license or a new business license, go through the corresponding procedures at the departments such as taxation, Customs, land administration and foreign exchange control.
Article 36 The assignment of equity rights that occurs in the process of the merger or division of companies shall be governed by the relevant laws, administrative regulations and the provisions on the change of the equity rights of the investors of enterprises with foreign investment.
Article 37 The merger or division of the companies set up by investors from Hong Kong, Macao and Taiwan in other parts of the country shall be handled with reference to these Provisions.
Article 38 These Provisions shall be interpreted by the Ministry of Foreign Trade and Economic Cooperation and the State Administration for Industry and Commerce.
Article 39 These Provisions shall enter into force as of October 1,1999.
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