企业兼并有关财务问题的暂行规定 Financial Matters Concerning Enterprise Mergers Tentative Provisions

and used as capital for re-investment.

　　13. Where strong State-owned enterprises takeover struggling State-owned industrial enterprises in cities in the “capital structuring and improvement” experimental scheme， as well as those enterprises which wholly accept the property of bankrupt enterprises， they shall assume a programme to confirm and clear the debts of the bankrupt enterprise and make arrangements for all the employees of the bankrupt enterprise. Such enterprises may， in accordance with the provisions drawn up by the People's Bank of China， the State Economic and Trade Commission and the Ministry of Finance in the Questions Concerning the Handling of Relevant Bank Loans and Interests and Encouragement and Support after Takeover of Struggling State-owned Industrial Production Enterprises by Strong State-owned Enterprises in the 18 Experimental Cities Circular （Bank Issue [1995] No. 130）， enjoy interest-free or no-interest special policies.

　　14. Where the enterprise being taken over is part of a policy on losses， the enterprise taking over may， after reaching an agreement on the assignment of property rights， receive the ratified subsidies granted to the enterprise being taken over under the policy on losses. Such subsidies shall be ratified and granted to the enterprise taking over by the corresponding level of the financial authority-in-charge according to the status of the production and operation of the enterprise taking over.

　　15. Where， on completion of the merger， the enterprise being taken over loses its legal person status， operations shall continue under the financial affairs administration of the enterprise taking over. Where the enterprise being taken over retains its legal person status but changes its investment focus， the administration of its financial affairs shall be implemented in line with the application of this focus.

　　16. Where State-owned enterprises takeover or are taken over by other enterprises， these provisions shall apply. Where enterprises operating on whatever systems merge， such enterprises may refer to these Provision

s.

　　17. The Ministry of Finance will be responsible for the interpretation of these Provisions.

　　18. These Provisions shall be effective as of the date of promulgation. The Ministry of Finance， Handling of the Financial Matters of Mergers of State-run Enterprises Tentative Provisions （Cai Gong Zi [1989] No. 131） are simultaneously repealed

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