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Provisions of the Supreme People's Court on Issues concerning the Domination over and Acceptance of Litigation Cases Related to the Regulatory duties of Stock Exchanges
Promulgation Date:2005-01-25  Promulgation Number:e00101,e00860,e03527,e03631,e032552005012520050131the Supreme People's CourtAnnouncement of the Supreme People's Court of the People's Republic of ChinaFa Shi [2005] No. 1  Promulgation Department:the Supreme People's Court
e00101,e00860,e03527,e03631,e032552005012520050131the Supreme People's CourtAnnouncement of the Supreme People's Court of the People's Republic of ChinaFa Shi [2005] No. 1The "Provisions of the Supreme People's Court on Issues concerning the Domination over and Acceptance of Litigation Cases Related to the Regulatory Duties of Stock Exchanges", which were adopted at the 1333rd meeting of the Judicial Committee of the Supreme People's Court on November 18, 2004, are hereby promulgated and shall come into force as of January 31, 2005.the Supreme People's CourtJanuary 25, 2005epdf/e03844.pdfA7,Istock exchanges, regulatory duty, litigation cases, domination, acceptancee03844Provisions of the Supreme People's Court on Issues concerning the Domination over and Acceptance of Litigation Cases Related to the Regulatory duties of Stock ExchangesIn order to correctly and timely exercise domination over and acceptance of litigation cases related to the regulatory duties of stock exchanges, the following provisions are formulated hereby:I.According to the relevant provisions of Article 37 of the "Civil Litigation Law of the People's Republic of China" and Article 22 of the "Administrative Litigation Law of the People's Republic of China", the intermediate people's courts at the localities of Shanghai Stock Exchange and Shenzhen Stock Exchange are appointed to separately exercise domination over civil and administrative cases of the first instance, which are pertinent to the regulatory duties of stock exchanges, with Shanghai Stock Exchange and Shenzhen Stock Exchange as defendants or the third persons.II.Litigation cases related to the regulatory duties of stock exchanges shall include:(1)litigations resulted from the decisions made by stock exchanges, in light of the provisions of the "Company Law of the People's Republic of China", the "Securities Law of the People's Republic of China", the "Law of the People's Republic of China on Securities Investment Funds", the "Measures for the Administration of Securities Exchange" and other laws, regulations and rules, on penalizing securities issuers and the relevant personnel thereof, stock exchange members and the relevant personnel thereof, or on disposing of activities regarding the listing of securities and transaction;(2)litigations resulted from the decisions made by stock exchanges, upon the lawful authorization of the securities regulatory institution under the State Council, on penalizing securities issuers and the relevant personnel thereof, stock exchange members and the relevant personnel thereof, or on disposing of activities regarding the listing of securities and transaction;(3)litigations resulted from the decisions made by stock exchanges, pursuant to the articles of association, business rules and business contracts, on penalizing securities issuers and the relevant personnel thereof, stock exchange members and the relevant personnel thereof, or on disposing of activities regarding the listing of securities and transaction;(4)other lawsuits resulted from the stock exchanges' implementation of their regulatory duties.III.The people's court shall not accept the litigations instituted by investors against stock exchanges due to their acts to securities issuers or the relevant personnel thereof, stock exchange members or the relevant personnel thereof, or activities regarding the listing of securities or transaction, which are taken in the process of their implementation of the regulatory duties but do not directly influence the benefits of the investors.IV.The present Provisions shall come into force as of the date of promulgation.
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