证券交易所管理办法（二）

ck exchanges to provide materials relating to their members and listed companies.

　　Article 89 CSSCC has the power to ask stock exchanges and stock registration settlement agencies to revise their articles of association and business rules.

　　Article 90 CSSCC has the power to dispatch personnel to oversee and i

nspect the business， financial status of the stock exchanges and stock registration settlement agencies， or investigate other relevant matters.

　　The above-mentioned inspectors should produce their legal identification papers in the performance of inspection missions.

　　Article 91 When a stock exchange or a stock registration settlement agency is involved in a litigation， the high-ranking managerial personnel of the aforesaid agency are involved in the litigation due to performance of duties and responsibilities or should be subjected to sanctions of dismissal from office pursuant to relevant state laws， regulations and rules， the stock exchange should submit a report to CSSCC in time.

　　Chapter X Penalty Provisions

　　Article 92 Any stock exchange that engages in businesses irrelevant to its functions in violation of the provisions of Article 12 of these Measures shall be ordered by CSSCC to make a rectification within the specified time period； where a crime has been constituted， the judicial organ shall investigate its criminal liability according to law.

　　Article 93 Any stock exchange that violates the provisions of Articles 13 and 14 of these Measures shall be ordered by CSSCC to suspend the trading of the said trading varieties and the person-in-charge involved of the exchange shall be imposed disciplinary sanctions.

　　Article 94 Any stock exchange that fails to fulfil its duties and responsibilities in the work of supervision and administration in violation of the provisions of these Measures， or fails to perform the relevant reporting obligations prescribed in these Measures shall be ordered by CSSCC to make a rectification within the specified time period and given criticism in a circular.

　　In the event of serious consequences affecting the normal conduct of securities trading activities， CSSCC has the power to order the stock exchange to suspend its operations for consolidation within the specified time period and submit a report to the Securities Commission for the record.

　　Article 95 Any stock registration settlement agency that violates the provisions of these Measures， CSSCC may order the stock exchange to impose a penalty on the stock registration settlement agency according to the business agreement concluded between the stock exchange and the stock registration settlement agency， or CSSCC shall impose a penalty pursuant to relevant state provisions.

　　Article 96 In the event of existence of the following circumstances in any stock exchange， CSSCC shall impose such administrative sanctions as administering a warning， recording a demerit， recording a serious mistake or dismissal from office， and order the stock exchange to impose disciplinary sanctions on the persons-in-charge of the business departments concerned； where serious consequences have been caused， CSSCC shall handle the case pursuant to the provisions of Article 29 of these Measures； where a crime has been constituted， the judicial organ shall investigate the persons concerned responsible of their criminal liability according to law：

　　（1）failure to transmit or implement relevant state laws， regulations， rules， policies and the rules， measures and provisions promulgated by the Securities Commission and CSSCC；

　　（2）irresponsibility in work and disorder in administration resulting in non-perfection and non-implementation of relevant business rules and operational procedures；

　　（3）non-acceptance of and non-cooperation with the work of supervision and inspection by CSSCC； no attachment of importance to， no submission of report and no resolution in time of major hidden perils and loopholes；

　　（4）failure to take effective measures to stop the acts in violation of regulations that have occurred in the stock exchange or ineffectiveness in investigation and handling.

　　Article 97 Any staff member in a stock exchange bears the responsibility to ref

use to implement the tasks assigned by any person which are in violation of relevant state laws， regulations， rules， policies and relevant provisions of the stock exchange， and bears the responsibility to report the specific information to the leadership at the next higher level and CSSCC. Whoever fails to refuse to implement the above-mentioned tasks， or whoever fails to report despite refusal to implement shall bear corresponding responsibilities.

　　Article 98 For members or listed companies of a stock exchange that violate the provisions of relevant state laws， regulations， rules， policies and the articles of association and business rules of the stock exchange and the stock exchange fails to perform the prescribed responsibilities of supervision and administration， CSSCC has the power to investigate the responsibilities of the stock exchange， high-ranking managerial personnel and the person directly responsible of the stock exchange.

　　Article 99 A stock exchange should， within the scope of its functions and responsibilities， report to CSSCC in time the information on its members， listed companies and other personnel that violate relevant state laws， regulations， rules and policies； for penalties the imposition of which by the stock exchange has been authorized by relevant state laws， regulations and rules， or penalties the imposition of which may be effected by the stock exchange pursuant to the articles of association and business rules of the stock exchange and the listing agreements， the stock exchange has the power to impose penalties pursuant to relevant provisions and submit the same to CSSCC for the record； for penalties to be imposed by CSSCC prescribed by relevant state laws， regulations and rules， the stock exchange may put forth suggestions on penalties to CSSCC.

　　CSSCC may ask a stock exchange to impose penalties on its members and the listed companies.

　　Article 100 Any stock exchange or any member or listed company of a stock exchange that violates the provisions of these Measures， the person directly responsible and the person who has relations of direct interest with the person directly responsible thus forming illegal gains or avoidance of losses， shall be confiscated by CSSCC and concurrently imposed a fine of 100% to three times of the amount of illegal gains or avoidance of losses.

　　Chapter XI Supplementary Provisions

　　Article 101 The meaning of the following terms in these Measures：

　　（1）“listing” means the listing for trading of the securities in a stock exchange by a securities issuer upon approval.

　　（2）“listing announcement” means the information disclosure document released to the public of society by a listed company in designated newspapers and periodicals on matters relating to the company and securities listing prior to the listing of its securities pursuant to relevant state laws， regulations， rules， policies and requirements of the business rules of the stock exchange.

　　（3）“listing fee” means the fees paid by a securities issuer to a stock exchange for the listing of its securities pursuant to the business rules of the stock exchange.

　　（4）“a person who recommends the listing” means an official member of a stock exchange confirmed by the stock exchange who assists a securities issuer in applying for the listing of its securities.

　　（5）“seating fee” means the fee paid by a member of a stock exchange to the stock exchange for the use of a trading seat pursuant to the articles of association and business rules of the stock exchange.

　　（6）“stock exchange high-ranking managerial personnel” means the directors， general manager， deputy general manager（s） and members of all specialized committees of a stock exchange.

　　（7）“a stock registration settlement agency” means a securities intermediary service agency established by a stock exchange not for profit that provides centralized registration

， deposit safekeeping， settlement and payment acceptance services for securities issuance and securities trading activities in the stock exchange.

　　The meaning of the terms not defined in these Measures shall be determined pursuant to the definitions in other relevant state laws， regulations， rules and policies.

　　Article 102 The Securities Commission shall be responsible for the interpretation of these Measures.

　　Article 103 These Measures shall enter into force as of the date of promulgation. Measures for the Administration of Stock Exchanges promulgated by the Securities Commission on August 21， 1996 is simultaneously superseded

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