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(f) providing guarantee for auto purchase financing; (来源:最老牌的英语学习网站 http://www.EnglishCN.com)

(g) agency business relating to auto purchase financing; and

(来源:EnglishCN英语博客基地)

(h) other loan business approved by The China Banking Regulatory Commission.

 

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Article 19 An auto financing company, in case of extending loans to a natural person for auto purchase, shall observe relevant rules governing the auto loans to individual buyers promulgated by the relative supervisory authority. In case of extending auto loans to a legal entity or other organizations, an auto financing company shall observe relevant rules set out by General Provisions of Loans and other regulations. (来源:英语麦当劳-英语快餐EnglishCN.com)

 

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Article 20 An auto financing company, without the approval of relevant regulatory authorities, shall not issue bonds or borrow funds from overseas. When an auto financing company’s establishment and business operations involve currency exchange, outward repatriation of profits, provision of auto loans for non-residents, capital management or other business transactions relating to foreign exchange administration, the company shall be subject to relevant regulations to be jointly issued by relative regulatory authorities and the State Administration of Foreign Exchange. (来源:英语麦当劳www.EnglishCN.com)

  (来源:英语麦当劳-英语杂志 http://www.EnglishCN.com)

Article 21 An auto financing company shall meet the requirement on the capital to risk assets ratio, and the capital adequacy ratio shall not be less than ten percent. The China Banking Regulatory Commission may increase the minimum requirement of capital adequacy ratio of an individual company in line with the company’s risk profile and risk management capability. Other requirements on risk control and management relating to various kinds of assets shall be issued separately by the China Banking Regulatory Commission.

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  (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

Article 22 An auto financing company shall adopt relevant accounting rules for financial institutions. (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

 

Article 23 An auto financing company shall compile in required format and submit to the China Banking Regulatory Commission the balance sheet, the profit and loss Statement, the cash flow statement and other statements required by the China Banking Regulatory Commission, and submit the financial statements of the previous year within three months after the end of each accounting year. (来源:英语交友 http://friends.englishcn.com)

 

An auto financing company shall not provide false financial statements, or statements in which important facts are concealed.

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Article 24 An auto financing company shall establish and improve various business management systems and internal controls in line with Guidelines on Strengthening Internal Controls of Commercial Banks issued by the People’s Bank of China, and report the systems to the China Banking Regulatory Commission before their implementation.

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Article 25 An auto financing company shall accept the on-site examination and the off-site surveillance by the China Banking Regulatory Commission. (来源:英语麦当劳-英语快餐EnglishCN.com)

  (来源:EnglishCN英语问答中心[e问e答])

Article 26 The China Banking Regulatory Commission may call the legal representatives or other senior managerial personnel of an auto financing company for inquiries into problems discovered during regular examinations, and demand the company to correct within a prescribed time frame.

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  (来源:英语麦当劳www.EnglishCN.com)

Article 27 An auto financing company shall establish a system of external audit on a regular basis and submit to the China Banking Regulatory Commission annual auditor’s report signed by the company’s legal representative within six months after the end of each accounting year.

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  (来源:英语麦当劳-英语快餐EnglishCN.com)

Article 28 An auto financing company, in case of encountering payment difficulties or other emergencies, shall take remedial actions, and promptly report to the China Banking Regulatory Commission.

(来源:专业英语学习网站 http://www.EnglishCN.com)

 

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Article 29 The China Banking Regulatory Commission shall demand remedial actions by an auto financing company in case of the following circumstances: (来源:英语论坛 http://bbs.englishcn.com)

(a) The company suffers from a loss in the current year of above 50 percent of the registered capital or losses in the last three consecutive years of above 10 percent of the registered capital;

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(b) The company is in payment difficulties; and

(来源:专业英语学习网站 http://www.EnglishCN.com)

(c) The company faces other major operational risks that the China Banking Regulatory Commission deems necessary to issue an order for corrective actions.

(来源:英语麦当劳-英语杂志 http://www.EnglishCN.com)

  (来源:英语博客 http://space.englishcn.com)

Article 30 The China Banking Regulatory Commission, after issuing an order for corrective actions to an auto financing company, may take the following enforcement actions:

(来源:英语麦当劳 http://www.EnglishCN.com)

(a) demanding or prohibiting the change of the company’s senior managerial personnel; (来源:EnglishCN英语博客基地)

(b) suspending part of the company’s business or prohibiting the company’s engagement in new business lines; (来源:专业英语学习网站 http://www.EnglishCN.com)

(c) demanding an increase of the company’s capital within a prescribed time frame;

(来源:专业英语学习网站 http://www.EnglishCN.com)

(d) demanding the company to change its equity structure or implement other forms of restructuring; (来源:英语博客 http://space.englishcn.com)

(e) prohibiting the dividend distribution; and

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(f) other enforcement actions that the China Banking Regulatory Commission deems necessary. (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

  (来源:英语麦当劳-英语杂志 http://www.EnglishCN.com)

Article 31 An auto financing company, when receiving an order for remedial actions, shall not resume normal business operations until the following conditions are met and are approved by the China Banking Regulatory Commission:

(a) Solvency is restored;

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(b) Losses are covered; and

(来源:英语麦当劳-英语快餐EnglishCN.com)

(c) Major operational risks are addressed. (来源:英语麦当劳www.EnglishCN.com)

 

(来源:英语麦当劳-英语杂志 http://www.EnglishCN.com)

Article 32 The maximum time limit that an auto financing company is allowed for corrective actions shall not exceed one year. If the company fails to meet the objectives of remedial actions within the prescribed time limit, its operation shall be terminated in accordance with relevant laws and regulations.

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Article 33 Auto financing companies may establish a trade association for self-regulation purposes. The activities of the trade association are subject to the guidance and oversight of the China Banking Regulatory Commission.

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