iSinoLaw Weekly

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Volume 31, Aug 21 ¡V Aug 27, 2006

²Ä31´Á¡A2006¦~8¤ë21 - 8¤ë27¤é

 

 

I.                  Highlights of New Laws

 

The Three Departments Including the Ministry of Construction Jointly Issued a Notice to Deter from Cooperative Housing Construction by Means of Illegal Fund Raising

 

 

Since the implementation of the reform on town housing system, in order to promptly reduce the shortage of housing for town residents and employees of certain industries, China has released several policies subsequently to encourage employees to improve their living environment through various ways such as purchasing ordinary commercial housing, economic and affordable housing (inclusive of cooperative housing construction by means of fund raising) and leased housing and so on. However, there have been existing problems in recent years where certain units in some areas distribute housing property welfare or develop commodity housing in name of cooperative housing construction by means of fund raising. Therefore, the Ministry of Construction, the Ministry of Supervision and the Ministry of Land and Resources jointly have issued the ¡§Notice on Deterring from Cooperative Housing Construction by Means of Illegal Fund Raising¡¨ (iSinolaw Reference ID: 10018443, hereinafter referred to as the ¡§Notice¡¨) to define strict provisions on examination and approval and usage of cooperative housing construction by means of fund raising.

 

Under the Notice, all the examination and approval for the projects of the organs under the Communist Party or the government concerning cooperative housing construction by means of fund raising shall be suspended as of the date of handing down of the Notice. For those projects of cooperative housing construction by means of fund raising which have been approved without the construction permit obtained, they shall be re-examined by the administrative authority of real estate (housing reform) jointly with relevant authorities. The construction of those which do not conform to the ¡§Measures for Administration of Economic and Affordable Housing¡¨ and the policy of housing reform shall not commence as if they are the projects of cooperative housing construction by means of fund raising. For those projects of cooperative housing construction by means of fund raising, which have already been commenced, the administrative authority of real estate (housing reform) shall re-examine the materials to be supplied, standards for areas and standard for fund raising of the projects jointly with the relevant authorities. For those employees whose housing areas have already reached the local prescribed standards so that they fail to conform to the conditions for participating in the cooperative housing construction by means of fund raising, they shall be disqualified. For those employees who conform to the conditions for participating in cooperative housing construction by means of fund raising but their housing areas (the housing areas according to which the preferential policy of the government has already been enjoyed and new areas of the cooperative housing construction by means of fund raising shall be consolidated in calculation) exceed the local prescribed standards, they shall be disposed of according to the local measures for disposal of housing areas exceeding the standards. Where the units which violate the regulations and provide subsidy of housing construction by means of fund raising for their employees, the units shall be ordered to take back the subsidy.

 

The Notice requires that the cooperative housing construction by means of fund raising shall comply with the overall planning of land use and the urban planning, shall be listed in the local construction plan of economic and affordable housing of the year and the annual land use plan. The examination on the construction standards, preferential policy and materials to be supplied thereof shall strictly accord to the relevant provisions concerning economic and affordable housing. The completed housing shall not be sold to those other than the examined supply target.

 

For those who approve or carry out the cooperative housing construction by means of fund raising, which is contrary to the regulations, the person assuming the relevant responsibility shall be liable shall be seriously investigated for his liability. For those which makes use of their power or influence to carry out cooperative housing construction by means of fund raising in order to seek housing benefit beyond the limit set by the standard for the employees of their own unit, the relevant unit leaders shall be investigated for liability. For those who conduct commodity housing development in the name of cooperative housing construction by means of fund raising and sell those completed housing externally, the illegal proceeds shall be confiscated, and the relevant liable persons shall be severely punished. If a crime is constituted, the relevant liable persons shall be transferred to judicial authorities for the investigation for their criminal liability.

 

The promulgation and implementation of this Notice will definitely produce inhibitive effect in respect of cooperative housing construction by means of illegal fund raising. Moreover, it will make a positive impact regarding further stabilization and regulation of the real estate market in China. 

 

 

(Translator: JS)

 

II.               Major Laws and Regulations in the Week

 

1.       Laws and Regulations Promulgated in the Week

NO

Title

Promulgation Date

Effective

Date

1

Corporate Bankruptcy Law of the People¡¦s Republic of China

27/8/2006

1/6/2007

2

Supervision Law of the Standing Committees of the National People¡¦s Congress at all Levels of the People¡¦s Republic of China

27/8/2006

1/1/2007

3

The Corporate Partnership Law of the People¡¦s Republic of China (2006)

27/8/2006

1/6/2007

4

Decision of the Standing Committee of the National People¡¦s Congress on Approval of the ¡§Cooperation Agreement Between the People¡¦s Republic of China and Pakistan on Cracking Down Upon the Terrorism, Secessionism and Ultraism¡¨

27/8/2006

27/8/2006

5

The Eleventh Five-year Development Plan on the Export of Agricultural Products

24/8/2006

24/8/2006

6

Measures for Administration of Domestic Securities Investment by Qualified Investors of Foreign Institutions

24/8/2006

1/9/2006

7

Notice of the China Securities Regulatory Commission on Relevant Issues Concerning the Implementation of ¡§Measures for Administration of Domestic Securities Investment by Qualified Investors of Foreign Institutions¡¨

24/8/2006

1/9/2006

8

Notice of the National Development and Reform Commission and the General Administration of Civil Aviation on Adjusting the Standards for Additional Charge of Fuel in Domestic Airline Passenger Transportation

24/8/2006

1/9/2006

9

Opinions of the Ministry of Water Resources on Strengthening the Management of Rural Hydroelectric Construction

24/8/2006

24/8/2006

10

Announcement No.10 of 2006 of the Ministry of Finance ¡X¡X Issuance of Certificate National Bonds of 2006 (Fourth Period)

23/8/2006

23/8/2006

11

Notice of the General Office of the National Development and Reform Commission on Developing and Improving the Investigation Work on the Dispatching Method of Power Generation

23/8/2006

23/8/2006

12

Guiding Opinions on Promoting the Accountability System for Administrative Law-enforcement in the National Civil Administrative System

23/8/2006

23/8/2006

13

the Fifth Five-Year Planning on the Legal Publication Education in the National Civil Administrative System

23/8/2006

23/8/2006

14

Notice of the Ministry of Construction on Issuing the ¡§ Rules of the Ministry of Construction on Declaration and Examination of Qualification of Garden Planting Enterprises

23/8/2006

23/8/2006

15

Public Announcement No.65 of 2006 of the Ministry of Commerce ¡X¡XInterim Review Adjudication on the Styrene-butadiene Rubber of Russia

22/8/2006

22/8/2006

16

Public Announcement on the Examination Results of the 28th Meeting of 2006 of the Issuance and Examination Commission of the China Securities Regulatory Commission

22/8/2006

22/8/2006

17

Public Announcement No.47 of 2006 of the General Administration of Customs ¡X¡XTo Levy the Anti-dumping Taxes Against the Styrene-butadiene Rubber Originating from Russia, Korea and Japan

22/8/2006

22/8/2006

18

Public Announcement No.21 of 2006 of the Certification and Accreditation Administration of the People's Republic of China

22/8/2006

1/8/2006

19

Notice of the State Maritime Affairs Bureau on Strengthening the Yachts Management

22/8/2006

22/8/2006

20

Notice of the Shenzhen Stock Exchange on Issuing the ¡§Implementing Rules of the Shenzhen Stock Exchange on Margin Trading and Securities Lending Pilot Units¡¨

21/8/2006

21/8/2006

21

Implementing Rules of the Shenzhen Stock Exchange on Margin Trading and Securities Lending Pilot Units

21/8/2006

21/8/2006

22

Business Guidelines of the Shenzhen Stock Exchange on the Members of Margin Trading and Securities Lending Pilot Units

21/8/2006

21/8/2006

23

Notice of the Shanghai Stock Exchange on Issuing the ¡§Implementing Rules of the Shanghai Stock Exchange on Margin Trading and Securities Lending Pilot Units¡¨

21/8/2006

21/8/2006

24

Implementing Rules of the Shanghai Stock Exchange on Margin Trading and Securities Lending Pilot Units

21/8/2006

21/8/2006

25

Announcement on the Examination Results of the 27th Meeting of 2006 of the Issuance and Examination Commission of the China Securities Regulatory Commission

21/8/2006

21/8/2006

26

Opinions of the State Administration of Work Safety on Further Promoting the Publicity of Government Affairs

21/8/2006

21/8/2006

27

Notice of the State-owned Assets Supervision and Administration Commission of the State Council and the Party Central Committee on Earnestly Organizing and Studying the ¡§Literary Selections of Jiang Zeming¡¨

21/8/2006

21/8/2006

28

Public Announcement No.57 of 2006 of the National Development and Reform Commission ¡X¡X To Repeal 65 Trade Standard Codes and Titles of Black Metallurgy, Petrochemicals, Oil and Gas and Boiler Pressure Vessel

21/8/2006

21/8/2006

29

Opinions of the General Office of the Safety Manufacture Commission of the State Council on Carrying out the United Supervision and Examination over the Rectification of Special Projects in the Safety Construction Work

21/8/2006

21/8/2006

30

Notice of the State Electricity Regulatory Commission and the State Administration of Work Safety on Strengthening the Safety Management over Hoisting Machinery in the Electric Power Construction

21/8/2006

21/8/2006

 

 

2.       Laws and Regulations Coming into Force in the Week

NO

Title

Promulgation Date

Effective

Date

1

Decision of the Standing Committee of the National People¡¦s Congress on Approval of the ¡§Cooperation Agreement Between the People¡¦s Republic of China and Pakistan on Cracking Down Upon the Terrorism, Secessionism and Ultraism¡¨

27/8/2006

27/8/2006

2

The Eleventh Five-year Development Plan on the Export of Agricultural Products

24/8/2006

24/8/2006

3

Opinions of the Ministry of Water Resources on Strengthening the Management of Rural Hydroelectric Construction

24/8/2006

24/8/2006

4

Announcement No.10 of 2006 of the Ministry of Finance ¡X¡X Issuance of Certificate National Bonds of 2006 (Fourth Period)

23/8/2006

23/8/2006

5

Notice of the General Office of the National Development and Reform Commission on Developing and Improving the Investigation Work on the Dispatching Method of Power Generation

23/8/2006

23/8/2006

6

Guiding Opinions on Promoting the Accountability System for Administrative Law-enforcement in the National Civil Administrative System

23/8/2006

23/8/2006

7

the Fifth Five-Year Planning on the Legal Publication Education in the National Civil Administrative System

23/8/2006

23/8/2006

8

Notice of the Ministry of Construction on Issuing the ¡§ Rules of the Ministry of Construction on Declaration and Examination of Qualification of Garden Planting Enterprises

23/8/2006

23/8/2006

9

Public Announcement No.65 of 2006 of the Ministry of Commerce ¡X¡XInterim Review Adjudication on the Styrene-butadiene Rubber of Russia

22/8/2006

22/8/2006

10

Public Announcement on the Examination Results of the 28th Meeting of 2006 of the Issuance and Examination Commission of the China Securities Regulatory Commission

22/8/2006

22/8/2006

11

Public Announcement No.47 of 2006 of the General Administration of Customs ¡X¡XTo Levy the Anti-dumping Taxes Against the Styrene-butadiene Rubber Originating from Russia, Korea and Japan

22/8/2006

22/8/2006

12

Notice of the State Maritime Affairs Bureau on Strengthening the Yachts Management

22/8/2006

22/8/2006

13

Notice of the Shenzhen Stock Exchange on Issuing the ¡§Implementing Rules of the Shenzhen Stock Exchange on Margin Trading and Securities Lending Pilot Units¡¨

21/8/2006

21/8/2006

14

Implementing Rules of the Shenzhen Stock Exchange on Margin Trading and Securities Lending Pilot Units

21/8/2006

21/8/2006

15

Business Guidelines of the Shenzhen Stock Exchange on the Members of Margin Trading and Securities Lending Pilot Units

21/8/2006

21/8/2006

16

Notice of the Shanghai Stock Exchange on Issuing the ¡§Implementing Rules of the Shanghai Stock Exchange on Margin Trading and Securities Lending Pilot Units¡¨

21/8/2006

21/8/2006

17

Implementing Rules of the Shanghai Stock Exchange on Margin Trading and Securities Lending Pilot Units

21/8/2006

21/8/2006

18

Announcement on the Examination Results of the 27th Meeting of 2006 of the Issuance and Examination Commission of the China Securities Regulatory Commission

21/8/2006

21/8/2006

19

Opinions of the State Administration of Work Safety on Further Promoting the Publicity of Government Affairs

21/8/2006

21/8/2006

20

Notice of the State-owned Assets Supervision and Administration Commission of the State Council and the Party Central Committee on Earnestly Organizing and Studying the ¡§Literary Selections of Jiang Zeming¡¨

21/8/2006

21/8/2006

21

Public Announcement No.57 of 2006 of the National Development and Reform Commission ¡X¡X To Repeal 65 Trade Standard Codes and Titles of Black Metallurgy, Petrochemicals, Oil and Gas and Boiler Pressure Vessel

21/8/2006

21/8/2006

22

Several Provisions of the Supreme People¡¦s Court on the Issues Concerning the Service of Judicial Documents of Civil or Commercial Cases Involving Foreign Elements

10/8/2006

22/8/2006

23

Opinions of the General Office of the Safety Manufacture Commission of the State Council on Carrying out the United Supervision and Examination over the Rectification of Special Projects in the Safety Construction Work

21/8/2006

21/8/2006

24

Notice of the State Electricity Regulatory Commission and the State Administration of Work Safety on Strengthening the Safety Management over Hoisting Machinery in the Electric Power Construction

21/8/2006

21/8/2006

 

 

 

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