Article 2 Equity transaction funds mentioned herein include transaction deposit and equity transaction price.
Transaction deposit is the monetary capital paid by the intended transferees to the equity transaction institution in accordance with the equity transfer announcement for ensuring the intended transferees to observe transaction rules and fulfill their commitments.
Equity transaction price is the monetary capital paid by the intended transferees to the equity transaction institution in accordance with the equity transaction contract for purchasing the transfer target through the equity transfer institution.
Article 3 Equity transaction institution shall adopt unified on-floor settlement system, set independent settlement accounts, organize collection and payment of transactions funds, and ensure the safety of transaction funds in the settlement funds accounts, and the funds shall not be used for other purposes.
Where both parties to the transaction are the same actual controller, and after the case is verified by the equity transaction institution, over-the-counter settlement shall be adopted for transaction funds.
Article 4 After the equity transaction contract is signed between the transferor and the transferee, the transaction deposit paid by the latter may be changed into the transaction price in accordance with the stipulations. The equity transaction institution shall transfer the deposit from the dedicated account of deposit to the settlement account of equity transaction price.
The transaction deposits paid by other intended transferees shall be refunded in full by the equity transaction institution within three working days.
Article 5 Where lump-sum payment is set forth in the equity transaction contract, the equity transaction price settlement amount is the turnover; for installments, the equity transaction price settlement amount shall not be lower than down payment.
Article 6 For installments stipulated in the equity transaction contract, besides down payment of transaction price, both parties may agree on the settlement method for the rest payment.
Article 7 RMB shall be generally adopted for the settlement of transaction funds; for settlement in foreign currencies, both parties shall submit application to the equity transaction institution in advance, and shall use the foreign currencies designated by the foreign exchange administration. For settlement of the equity transaction price in foreign currencies, both parties shall, in accordance with relevant regulations of the foreign exchange administration, fulfill settlement procedures.
Article 8 For settlement of the equity transaction price in RMB, the following procedures shall be followed:
(A) After both parties sign equity transaction contract, the transferee shall, within the prescribed time limit set forth in the equity transaction contract, pay the equity transaction price to the settlement account of the equity transaction institution. Then the equity transaction institution shall issue receipt, and give notice to the transferor.
(B) Upon completion of the procedures for ownership change, the transferor shall, along with the broker members, take evidence of ownership change, identification certificates of responsible person, and receipt to the equity transaction institution to fulfill procedures for transfer of transaction price. Unless otherwise stipulated by both parties on transaction price transfer, the stipulation may be followed after the case is reviewed by the said institution.
(C) For compliance of the conditions for equity transaction price transfer, the equity transaction institution shall finish the transfer of the transaction price within three working days starting from the following day on which the transferor requires fulfilling the procedures for the transfer of the transaction price.
(D) Both parties shall, in accordance with the charging standards of the equity transaction market, pay transaction service charges, and after receiving service charges, the transaction institution shall issue receipt.
Article 9 The equity transaction funds shall not be collected or paid by any third party other than the equity transaction institution.
Article 10 The equity transaction institution shall settle the interest of the equity transaction price in accordance with the benchmark demand deposit interest rate of the People’s Bank of China.
From the following day after signing the equity transaction contract to the day on which the contract becomes effective, the interest of the equity transfer price shall be owned by the transferee; from the following day after the equity transaction contract becomes effective to the day on which the transaction price is transferred from the equity transaction institution, the interest of the equity transfer price shall be owned by the transferor.
Article 11 Charging standards for equity transactions shall be consistent with relevant regulations of local government price authority in the place where the equity transaction institution is located, and shall be published on the workplaces and information platform of the said institution.
The equity transaction institution shall not deduct transaction service charges from the transaction price without permission.
Article 12 The regulations come into force as of the date of promulgation.