中华人民共和国外资保险公司管理条例实施细则 Detailed Rules for Implementation of Regulations of the Peoples Republic of Ch

e Regulations shall have the qualifications specified by CIRC.

　　The senior managerial personnel of the branch of a foreign insurance company shall have the qualifications equal to those required for the counterparts in the headquarters of an insurance company.

　　Article 25

　　The materials regarding business place of the proposed company mentioned in Item 9 of Article 11 of the Regulations refers to the supporting documents evidencing the ownership or use-right of the business place.

　　The materials concerning other facilities related to the business mentioned in Item 9 of Article 11 of the Regulations shall include at least information about configuration of computer facilities， network construction and information management system.

　　Article 26

　　The following documents or materials to be provided by a foreign insurance company for an application for the establishment of a foreign-funded insurance company according to the requirements specified in the Regulations and these Rules， shall be notarized by a public notary legally established in the local country or region， or verified by the embassy or consulate of China in that country：

　　（1） The business license （duplicate） or valid copy of the business license；

　　（2） A letter of attorney issued to the proposed person-in-charge of the branch of a foreign insurance company；

　　（3） A letter of guarantee of a foreign insurance company to undertake the obligations of tax and duties payment and debts repayment on behalf of its branch in China.

　　Article 27

　　A foreign-funded insurance company may apply for establishing branches as needed according to business development.

　　The branch of a foreign insurance company can only conduct business within the territory of the province， autonomous region or municipality where the branch is located. Where the joint-equity insurance company or wholly-owned insurance company is prepared to conduct business in any other province， autonomous region or municipality outside its locality， it shall establish a branch in the place concerned.

　　A foreign insurance company may， according to actual circumstances， app

ly for establishing a central sub-branch or sub-branch， operating office or marketing service office. The establishment and management of marketing service offices shall be subject to other applicable regulations of CIRC， if any.

　　Article 28

　　Where a joint-equity or wholly-owned insurance company which has been established with a minimum registered capital of RMB200 million， applies for the first time for the establishment of a branch in every other province， autonomous region， or municipality outside its locality， it shall increase the registered capital by no less than RMB20 million.

　　By the time of applying for the establishment of a branch， if the registered capital of a joint-equity or wholly-owned insurance company has reached the amount as stipulated in the preceding paragraph， the company will no longer be required to increase its registered capital.

　　Where the registered capital of a joint-equity or wholly-owned insurance company has reached RMB500 million and where the solvency of the company is adequate， no increase of registered capital is required when the company applies for the establishment of a branch.

　　Article 29

　　A foreign-funded insurance company that applies for the establishment of a branch shall satisfy the following requirements：

　　（1） Its solvency margin shall comply with relevant regulations specified by CIRC.

　　（2） Its internal control system is sound and there is no record of punishment； where the operating period exceeds 2 years， there is no record of punishment in the most recent 2 years；

　　（3） It has senior managerial personnel of the branch with the relevant qualifications specified by CIRC.

　　Article 30

　　A foreign-funded insurance company that applies for the establishment of a branch shall submit an application to CIRC and provide the following documents in triplicate：

　　（1） A letter of application for establishment；

　　（2） Audited solvency status reports as of the end of the previous fiscal year and as of the end of the last quarter；

　　（3） A three-year business development plan and market analysis for the proposed branch；

　　（4） Resume（s） of the person（s）-in-charge of the organization preparation and relevant certificates.

　　Article 31

　　CIRC shall examine the application and decide， within 20 days after receiving the complete application documents， whether or not to grant approval； in case no approval is granted， CIRC shall inform the applicant in writing of the decision and explain the reason.

　　After approval is granted， the applicant shall complete the preparation within 6 months. Where the applicant fails to do so within the prescribed time limit， if the reason is justified and subject to approval by CIRC， the period may be extended for 3 months. Where the preparation is still not completed within the extended period， the original approval document issued by CIRC becomes void automatically.

　　The preparing body may not be engaged in any commercial activities concerning insurance.

　　Article 32

　　After the preparation is completed， the applicant shall apply to CIRC for opening business and submit the following documents in triplicate：

　　（1） A letter of application for opening business；

　　（2） A progress report of the preparation work；

　　（3） Resume（s） of senior managerial personnel to be appointed and relevant certificates；

　　（4） Relevant certificates of ownership or use-right of the office for the proposed branch， information regarding the configuration of computer facilities， network construction， and internal structure and staff.

　　Article 33

　　CIRC shall decide， within 20 days after receiving the complete application documents for opening business， whether or not to grant approval； in case the application is approved， a license for conducting insurance business shall be

issued to the branch； in case the application is disapproved， CIRC shall inform the applicant in writing of the decision and explain the reason.

　　The branch with approval for opening business shall go through the formalities of business registration at the administration department of industry and commerce by presenting the approval document and the license for conducting insurance business and accordingly obtain business license from the authority before opening business.

　　Article 34

　　Unless otherwise stipulated in these Rules， the examination and administration of the qualifications of the senior managerial personnel of a foreign-funded insurance company and its branches shall be subject to the relevant regulations of CIRC.

　　Article 35

　　Where a joint-equity or wholly-owned property insurance company applies for dissolution when it splits， or merges with another one， or dissolves pursuant to the articles of association， such dissolution must be subject to approval of CIRC and the following documents shall be submitted：

　　（1） A letter of application signed by the Chairman of the Board of Directors of the company；

　　（2） The resolution of the meeting of shareholders；

　　（3） Composition of the proposed liquidation group and a plan for liquidation；

　　（4） A proposal for solving the outstanding liabilities.

　　Article 36

　　The joint-equity or wholly-owned property insurance company whose dissolution has been approved by CIRC shall， from the date of receiving the approval document from CIRC， terminate any new business activities and hand in the license for conducting insurance business to CIRC and form a liquidation group within 15 days.

　　Article 37

　　The liquidation group shall， within 5 days after its establishment， inform the relevant authorities concerning the administration departments of industry and commerce， tax， labor and social security in writing of the liquidation procedure and conditions.

　　Article 38

　　The liquidation group shall， within 1 month from the date of establishment， appoint an accounting firm pursuant to the requirements of CIRC to conduct auditing， and shall deliver an auditor's report to CIRC within three months from the date of appointment.

　　Article 39

　　The liquidation group shall submit the latest liability liquidation and assets disposal report to CIRC before the tenth date of each month.

　　Article 40

　　The newspaper mentioned in Article 28 of the Regulations refers to the newspaper specified by CIRC.

　　Article 41

　　The foreign property insurance company that applies for cancellation of its branch in China shall submit an application to CIRC for approval and present the following materials：

　　（1） A letter of application signed by the Board of Directors or General Manager of the foreign property insurance company；

　　（2） Composition of the proposed liquidation group and a plan for liquidation；

　　（3） A proposal for solving the outstanding liabilities.

　　The procedures of application for dissolution of a joint-equity or foreign-funded property insurance company specified in the Regulations and these Rules shall be applicable to the specific procedures for the foreign property insurance company to cancel its branch in China.

　　Where the head office of a branch of a foreign property insurance company is dissolved or cancelled or declared bankruptcy according to law， the liquidation and

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