Legislation roundup: Monopoly agreements, Material asset restructurings and Trust companies
SAMR issues rules to implement the safe harbor system concerning monopoly agreements. CSRC allows for simplified review procedures for offering shares to purchase assets. Trust companies are exempted from setting up supervisory boards.
Antitrust
State Administration for Market Regulation, Provisions for the Prohibition of Monopoly Agreements (Amendment Draft for Comments)
国家市场监督管理总局禁止垄断协议规定 (修订草案征求意见稿)
The current revision focuses on implementation of the “safe harbor” system set forth in the third paragraph of Article 18 of the Anti-Monopoly Law, refining the market share and turnover criteria that business operators are required to satisfy for application of said system and adding specific provisions concerning the materials to be adduced, the review procedure and legal consequences. The revisions mainly cover: the setting of thresholds for market share and turnover for different types of monopoly agreements, specification that both parties to a transaction are required to satisfy the criteria, the setting forth of exceptions and the strengthening of the burden of proof on, and procedural norms for, business operators.
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