Measures for the Administration of the Takeover of Listed Companies (Revised in 2014)

上市公司收购管理办法 (2014年修订)

The revision abolishes the requirement for prior CSRC approval of a takeover offer.

Share:

(Promulgated by the China Securities Regulatory Commission on October 23 2014, and effective as of November 23 2014.)

(中国证券监督管理委员会于二零一四年十月二十三日公布，自二零一四年十一月二十三日起施行。)

Order of the CSRC No.108

证监会令第108号

Part One: General provisions

第一章 总 则

Article 1: These Measures have been formulated pursuant to the Securities Law, the Company Law and other related laws and administrative regulations in order to regulate takeovers of listed companies and related share interest changes, protect the lawful rights and interests of listed companies and investors, maintain the order of the securities market, safeguard the public interest and promote the optimal allocation of securities market resources.

第一条 为了规范上市公司的收购及相关股份权益变动活动，保护上市公司和投资者的合法权益，维护证券市场秩序和社会公共利益，促进证券市场资源的优化配置，根据《证券法》、《公司法》及其他相关法律、行政法规，制定本办法。

Article 2:

第二条 上市公司的收购及相关股份权益变动活动，必须遵守法律、行政法规及中国证券监督管理委员会（以下简称中国证监会）的规定。当事人应当诚实守信，遵守社会公德、商业道德，自觉维护证券市场秩序，接受政府、社会公众的监督。