上市开放式基金登记结算业务实施细则 Rules for the Implementation of the Registry and Clearance Business of Listed Open

　　4.6 The investor who sells in a Stock Exchange through a security institution the listed open-end fund unit that is under the trusteeship of a certain fund manager or its best effort institution shall handle the trusteeship transfer across system in accordance with the following procedure：

　　（1） Where the investor applies to the transferring fund manager or its best effort institution for trusteeship transfer across system， he shall specify the chair number of the transferee securities institution， the number of the open-end fund account， the fund code， and the amount to be transferred， of which， the amount to be transferred shall be in integer unit.

　　（2） With respect to the trusteeship transfer across system application that is qualified in examination， TA system debits the fund unit of the open-end fund account of the investor， and the security registry system makes corresponding credits to the fund unit of the securities account.

　　（3） With respect to the trusteeship transfer across system application that has been successfully processed， the investor may， after two transaction days from the applying date， apply through the transferee security institution to the Stock exchange for sale of the fund unit.

　　4.7 With respect to the transfer of trusteeship across system in that the transferor system has debited the fund unit of the investor's account while the system of the transferee can't make credit thereto， the investor may conduct account adjustment in the system of the transferee.

　　4.8 After the date when the open-end fund is listed， except for the equity allocation period （from date R-2 to date R， date R is the equity registry date） when the trusteeship transfer across system is temporary suspended， the investor may， in the transaction day of the Stock Exchange， apply for handling the trusteeship transfer across system.

　　4.9 The unit of the listed open-end fund that is frozen can't be handled with the trusteeship transfer across system.

　　Chapter 5 Fund Clearance

　　5.1 This Company adopts the principle of separated system in clearance with resp

ect to listed open-end fund. The clearance of the fund concerning the subscription and transaction of listed open-end fund trough Stock Exchange is conducted in the securities registry system； the clearance of the fund involved in the subscription， application for purchase and redemption of listed open-end fund through fund manager or its best effort institution is conducted in the TA system.

　　5.2 This Company adopts the multilateral net clearance with respect to listed open-end fund. This Company may adopt other fund clearance method with respect to listed open-end fund after relevant business rules are formulated by this Company and are submitted to and approved by China Securities Regulatory Commission.

　　5.3 The clearance participants such as the securities institution， fund manager and its best effort institution， before participating in the fund clearance business of listed open-end fund of this Company， shall open clearance reserving account in this Company in accordance with relevant provisions of this Company， and conclude fund clearance business agreement with this Company.

　　5.4 The delivery and receipt of the fund concerning the application for purchase listed open-end fund through Stock Exchange shall abide by the principle that “delivery and receipt in secondary market is in priority to that in internet application”， the delivery and receipt of the fund concerning the subscribe of listed open-end fund through fund manager and its best effort institution shall abide by the principle that “the delivery and receipt of the fund of application and redemption is in priority to that of subscribed fund”。

　　5.5 The fund clearance in subscribing listed open-end fund：

　　（1） The securities registry system， based on the applied data of listed open-end fund made through Stock Exchange in date T， conducts fund clearance in that date and produces fund clearance data， and finishes fund delivery and receipt through the clearance reserve account of its clearance participant in date T-1. Where the balance of the clearance reserve account of its clearance participant is not sufficient for delivery and receipt， the securities registry system makes invalid the applied amount of the insufficient part in date T-2.

　　（2） The TA system， based on the applied data of listed open-end fund made through fund manager and its best effort institution in date T， conducts fund clearance and produces fund clearance data in date T-1， and finishes fund delivery and receipt through the clearance reserve account of its clearance participant in date T-2. Where the balance of the clearance reserve account of its clearance participant is not sufficient for delivery and receipt， the TA system makes invalid the applied amount of the insufficient part in date T-3.

　　5.6 The fund clearance in daily transaction， application， redemption of listed open-end fund：

　　（1） The securities registry system conducts fund clearance of the combination of the dealing data of the listed open-end fund and other listed stocks in the Stock Exchange and other non-transaction data after the market is closed in date T， figures out the net receivable and payable of the clearance participants and produces fund clearance data， and finishes fund delivery and receipt through the clearance reserve account of its clearance participant in date T-1.

　　（2） The TA system conducts fund clearance of the combination of the application in date T-1 and the redemption in T-N-1 working days （N is the redemption payment cyclical period prescribed in advance by fund manager） of the listed open-end fund made through fund manager and its best effort institution and the business data of the open-end fund of the day， figures out the net receivable and payable of the clearance participants and produces fund clearance data， and finishes fund delivery and receipt through the clearance reserve account of its clearance participant in date

T-1.

　　Chapter 6 Risk Prevention and Control Measures

　　6.1 This Company and the clearance participants shall adopt the following measures to strengthen the risk control in registry and clearance business：

　　（1） To stipulate perfect risk prevention system and inner control system；

　　（2） To establish perfect technical system， to abide by the agreed technical criteria and rules.

　　（3） To make backups of the clearance data and technical system and stipulate business urgency solving procedures and operational procedures.

　　6.2 Based on the risk sharing principle， the clearance participants shall pay clearance deposit as prescribed to prevent risks in clearance. The payment， adjustment， management and use of the clearance deposit shall be conducted in accordance with provisions of this Company.

　　6.3 The balance of the clearance reserve account of the clearance participants at the end of a day shall not be lower than the minimum clearance reserve as verified by this Company. The payment rate of the minimum clearance reserve and the adjustment thereof shall be carried out in accordance with the provisions of this Company.

　　6.4 Where the clearance participant violates contract in fund delivery and receipt， this Company may adopt the following measures：

　　（1） To charge interest and fine for breach of contract as prescribed in the provisions of the People's Bank of China and this Company based on the breach amount of the clearance participants.

　　（2） On the day of the overdraft， to detain the securities proprietary traded by the clearance participants that is equivalent to 100% of the breach amount. Where the clearance participant who breaches the contract pay fully the capital and interest of the breach amount and the fine for breach of contract， this Company returns back the securities detained. Otherwise this Company will sell out the detained securities and compensate for the breach amount of the clearance participants with the amount gained in sale， where the amount gained in sale can't recover fully the capital and interest of the breach amount and the fine thereof， the difference shall be recovered by recourse to the clearance participants.

　　（3） To record the breach of the clearance participant in the bad record of the clearance participant as the proof in evaluating the risk scope and determining the key supervision object.

　　（4） To be entitled to require the clearance participant that breaches the contract to provide an account of its financial status to this Company and bring forward the specific measures for covering the breach amount， and to make the clearance participant as the key supervision object and keep close supervision on its financial status.

　　6.5 This Company， where necessary to the clearance participant that has a relatively big risk in clearance， is entitled to adopt such measures as to increase the clearance deposit， adjust the payment rate and time of minimum clearance reserve， require it to provide clearance credit guaranty or clearance mortgage， limit the business application or require it to trust other clearance participant to conduct clearance， etc.

　　6.6 The fees and damages of this Company in dealing with the breach of the clearance participant in delivery and receipt are born by the clearance participant.

　　Chapter 7 The Equity Allocation

　　7.1 The equity allocation of listed open-end fund shall be conducted by the security registry system and TA system based on respective investor's book thereof on the equity registry day （Date R）。

　　The security registry system can only

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