Legal newsletter (Issue 3, 2016)

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First, legislation

◆ Civil Code compilation started again

On March 4, the Fourth National People's Congress held a press conference. Spokesman Fu Ying said that the compilation of the work of the Civil Code has started again, and will be determined to complete the compilation in two steps to complete the work. The first step is to develop general principles of civil law, the second step is the full integration of civil law. The draft of the General Principles of Civil Law has been released, is currently seeking the views of the parties concerned, is expected in June to be submitted to the NPC Standing Committee for consideration.

Second, financial

◆ Bank of China first single bad ABS issue size or 1 billion yuan

Bank of China first single bad ABS originally scheduled for release in March this year, but regulators believe that the Bank of China plans to issue a plan "too small" (nearly 300 million yuan), asked to further increase the size of the issue. 21st century economic report reporter was informed that the Bank of the first single bad ABS issue size or eventually expanded to 10 billion yuan. This means that the first phase of the issuance of bad securitization products will also be further delayed.

◆ NPC Standing Committee authorized the State Council in the stock issuance registration reform to adjust the application of "Securities Law"

The Standing Committee of the National People 's Congress has mandated the State Council to adjust and apply the relevant provisions of the "People' s Republic of China Securities Law" to the public offering and approval system for stock issuance. The specific implementation plan shall be formulated by the State Council and submitted to the Standing Committee of the National People 's Congress for the record.

◆ new three board layered officially entered the implementation phase

The Commission announced on March 4, 2016 that the new three-board stratification mechanism is expected to be formally implemented in May 2016, and the national share transfer system will gradually enrich and improve the different levels of listed companies in differentiated institutional arrangements.

Http://v2.neeq.com.cn/notice/2851.html

Second, the local new regulations

◆ Sichuan heavily to encourage direct financing of the implementation of asset securitization of the maximum subsidy of 5 million yuan

Sichuan Provincial Government Office recently issued "on the implementation of the direct financing to encourage fiscal policy notice" clear, equity financing will receive at least 4.5 million subsidy, debt financing cumulative discount of not more than 5 million, Sichuan enterprises listed a new three-board one-time subsidy of 500,000 Yuan, the new customer first loan award amount of 1 ‰.

Link: http: //www.sc.gov.cn/10462/10464/13298/13301/2015/10/16/10355760.shtml

Third, marriage and family

◆ China's first "anti-domestic violence law" formally implemented

On March 1, 2016, the Anti-Domestic Violence Act was formally implemented with the following major highlights: the definition of domestic violence mitigated the burden of proof of the victim, leaving a flexible space for the legislature and the judiciary; Living violence between the perpetrators of violence also constitutes a domestic violence; the creation of a slight domestic violence under the admonition disciplinary approach, supporting visits, supervision system; to guide the victim evidence, weaken the victim to prove responsibility; clear domestic violence on the revocation of the guardian System; create a relatively complete system of personal security protection, and clear its independent case by legal status.

Fourth, judicial interpretation

◆ March 1, 2016, the Supreme Law enacted and issued "the people's court hearing the People's Procuratorate to commemorate the pilot case of public interest litigation case"

Http://www.court.gov.cn/fabu-xiangqing-16882.html

◆ The Supreme People's Republic of China has formulated the "Personal Security Protection Case Information Service Standard" which is supported by the Anti-Domestic Violence Act.

Http://www.court.gov.cn/fabu-xiangqing-17072.html

Fifth, intellectual property rights

◆ National Copyright Bureau is scheduled for June 1, 2016 from the opening of the unified commission of the new version of the work of the registration certificate and seal, the work of the registration number format unchanged, the seal is round

Six other

◆ The State Council has formulated and implemented a number of provisions for the implementation of the Law on Promoting the Transformation of Scientific and Technological Achievements

Http://www.gov.cn/zhengce/content/2016-03/02/content_5048192.htm

◆ By the end of 2015, 22 ministries and commissions signed the Memorandum of Cooperation on the Joint Punishment of the Relevant Responsibility Subjects of Illegal and Deactive Listed Companies

  Http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201512/t20151228_289166.html

◆ Ministry of Finance, Ministry of Science and Technology, SASAC to develop state-owned science and technology enterprises equity and dividend incentives

Http://www.most.gov.cn/tztg/201603/t20160301_124281.htm

Seven cases

◆ The Supreme Law ruled that the assignment of the creditor's rights resulted in the transfer of the mortgage and no change of registration

According to the Supreme People's Court in retrial civil ruling ((2015) No. 1440), the transfer of the creditor's rights resulted in the transfer of the mortgage and no change of registration. It is noteworthy that the "City Real Estate Mortgage Management Measures" (2001 Ministry of Construction Order No. 98) Article 37 provides: "mortgage can be transferred with the creditor's rights. Mortgage transfer, should be signed mortgage transfer contract, and After the transfer of the mortgage, the original mortgagee should inform the mortgagor. "In the case, the creditor of the new mortgagee who did not apply for real estate mortgage change registration, the Supreme Law under the" Property Law " One hundred and twenty-two "mortgage shall not be separated from the creditor's rights and separate or as a guarantee of other claims, the transfer of the creditor's rights, and the transfer of the security of the security, unless otherwise provided by law or otherwise agreed by the parties" , That "the creditor's rights obtained by the assignee is based on the law clearly defined, not based on the new mortgage contract to re-set the mortgage, it is not because the assignee did not promptly apply for mortgage change registration procedures", part of the negative The Ministry of Construction Order No. 98, Article 37 of the provisions of the effectiveness.

Producer: Yang Yuan Jiang Guoyan

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