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Provisions of Shanghai Municipality on Examination and Approval of Auction Firms
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| (Promulgated by People' s Government of Shanghai Municipality on May 27,1999) Article 1 Basis These Provisions are formulated in accordance with the relevant regulations of "Law of People' s Republic of China on Auction" (hereinafter referred to as Law on Auction). Article 2 Administrative Department Shanghai Municipal Commerce Commission (hereinafter referred to as SMCC) is responsible for the examination and approval of the establishment of the auction firm. The relevant municipal departments of industrial and commercial administration, public security, finance etc. Shall assist in the implementation of these Provisions in the light of their respective legal duties. Article 3 Application for the Establishment of Auction firm and Formalities of Examination and Approval The application for the establishment of auction firm shall be submitted to the SMCC who shall make the examination decision within 20 days after receiving the application and issue the document of approval to those who meet the requirements stipulated in "Law on Auction" ; for those who fail to meet the requirements, the SMCC shall notify the applicant in written form within the period specified in this section. When auctioning articles or property right, the auction firm whose qualification is supposed to be examined in the light of regulations in certain laws and regulations shall be examined and approved by the SMCC together with other related responsible departments in compliance with the stipulations in certain laws and regulations. Article 4 Implementation of Relevant Clauses in the Law on Auction The stipulation of "having auctioneers and other staff who are suitable for engaging in the auction business" as specified in Section 3 of Article 12 in "Law on Auction" refers to having 2 or more than 2 auctioneers who are suitable for engaging in the auction business. When conducting the examination on the applicant' s qualification and conditions, the SMCC shall solicit opinions from the Shanghai Municipal Auction Industry Committee on the requirements stipulated in Section 3 and 4 of article 12 in "Law of Auction" . Article 5 Application for the Permit of Special Trade and Formalities of Examination and Approval After receiving the document of approval, the applicant shall file an application with the local public security department of the district or the county for the permit of special trade. The local public security department of the district or county shall accomplish the examination within 30 days after receiving the application and shall issue the permit of special trade to those who meet the requirements; for those who fail to meet the requirements, the public security department shall notify the applicant in written form within the period specified in this Section. Article 6 Formalities to Go Through for Business License After receiving the document of approval and the permit of special trade, the applicant shall file an application with the industrial and commercial administrative department for going through the procedures of registration and shall not start its business until it obtains the business license. Article 7 Qualifications for Auctioning Forfeited and Confiscated Goods and Materials The auction firm who applies for dealing in auctions of forfeited and confiscated goods and materials shall meet the following requirements: 1. having been dealing in this trade for 2 years; 2. having 4 or more than 4 auctioneers; 3. having reached a certain scale of annual auction volume; 4. having complete and standard formalities for conducting auction activities; 5. possessing certain places and facilities suitable for auctioning the goods and materials forfeited and confiscated; 6. having no record of illegal business transactions; and 7. other requirements stipulated in laws, regulations and rules. Article 8 Application for Auctioning Forfeited and Confiscated Goods and Materials and Formalities of Examination and Approval The auction firm who needs to auctioneer the forfeited and confiscated goods and materials shall file an application with SMCC who shall make the examination decision together with the Municipal Financial Bureau within 20 days after receiving the application. As to those who meet the stipulated requirements, the SMCC shall issue a certificate the designated firm for auctioning the forfeited and confiscated goods and materials; as to those who fail to meet the requirements, the SMCC shall notify the applicant in written form within the period specified in this Article. Article 9 Formalities of Alteration and Cancellation In case the auction firm shall divide, merge, close down or dissolve, it shall go through the formalities of alteration or cancellation at the SMCC and the public security department of the district or county, and shall make the registration of the alteration or cancellation at the industrial and commercial administrative department in accordance with rules and regulations. Article 10 Annual Review The SMCC shall adopt the annual review system in managing the document of approval and the certificate of the designated firm for auctioning forfeited and confiscated goods and materials. Article 11 Interpretation of the Forfeited and Confiscated Goods and Materials The forfeited and confiscated goods and materials mentioned in these Provisions refer to the articles confiscated by the State' s administrative organs which are supposed to be entrusted to auction in accordance with the State Council' s regulations, articles used to replace the tax or fine and other articles, articles confiscated by the People' s Court in the light of law, articles used to replace the forfeit or fine as well as those articles recovered yet unable to be returned. Article 12 Date of Implementation These Provisions will become effective on July 1,1999. |
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URL: http://www.asianlii.org/cn/legis/sh/laws/posmoeaaoaf769