中华人民共和国银行业监督管理法 Law of the peoples Republic of china on Regulation of and supervision over the Banki

cision of disapproval， it shall explain the reasons why：

　　（1）for the establishment of a financial institution of the banking industry， it is six months from the date it receives the application documents；

　　（2）for the change or termination of a financial institution of the banking industry， for the business scope or for offering more types of services within the business scope， it is three months from date it receives the application documents； and

　　（3）for examination or the qualifications of a director or senior manager， it is 30 days from the date it receives the application documents.

　　Article 23 the banking regulatory authority shall conduct off-site supervision of the business operations and risk profile of the financial institutions of the banking industry， for which it shall establish an information system to analyse and assess the risk profile of such institutions.

　　Article 24 the banking regulatory authority shall conduct on-site inspection of the business operations and risk profile of the financial institutions of the banking industry.

　　The banking regulatory authority under the state council shall formulate procedures for on-site inspection to standardize such inspection.

　　Article 25 the banking regulatory authority under the state council shall supervise the financial institutions of the banking industry on a consolidated basis.

　　Article 26 with respect to the proposal made by the people's Bank of china for inspection of a financial institution of the banking industry， the banking regulatory authority under the state council shall respond within 30 days from the date it receives the proposal.

　　Article 27 the banking regulatory authority under the state council shall establish a rating system and an early-warning mechanism for supervision over the financial institutions of the banking industry， in order to determine， on the basis of the rating and risk profile of such institutions， the frequency and scope of on-site inspection of the institutions， as well as other supervisory measures that need to be taken.

　　Article 28 the banking regulato

ry under the state council shall establish a system of post responsibility for identifying and reporting emergencies in the banking industry.

　　When it identifies any emergency that may lead to systemic risks in the banking industry and thus seriously jeopardize social stability， the banking regulatory authority shall immediately report the matter to the leading member of the banking regulatory authority under the state council； the leading member shall， when deeming it necessary immediately report to the state council while informing the people's Bank of china， the finance department and other relevant departments under the state council of the matter.

　　Article 29 the banking regulatory authority under the state council shall， in conjunction with the people's Bank of china， the finance department and other relevant departments under the state council， establish a system for coping with emergencies in the banking industry， including formulating contingency plans， designating institutions and staff members， specifying their responsibilities and the measures and procedures， in order to ensure that emergencies in the banking industry are handled in a timely and effective manner.

　　Article 30 the banking regulatory authority under the state council shall be responsible for compiling， in a unified manner， statistics and reports of the financial institutions of the banking industry throughout the country and， in accordance with the relevant regulations of the state， publish the statistics and reports.

　　Article 31 the banking regulatory authority under the state council shall guide and oversee the activities of the self -regulated organizations of the banking industry.

　　The self-regulated organizations of the banking industry shall submit their articles of association to the banking regulatory authority under the state council for the record.

　　Article 32 the banking regulatory authority under the state council may engage in international exchange and cooperation related to regulation of and supervision of and supervision over the banking industry.

　　Chapter IV

　　Supervisory Measures

　　Article 33 the banking regulatory authority shall， in light of the need for performing its duties， have the power to require the financial institutions of the banking industry to submit， in accordance with relevant regulations， their balance sheets， profit statements， other financial accounting statements， statistical reports and information concerning business operations and management， as well as the audit reports prepared by certified public accountants.

　　Article 34 the banking regulatory authority may take the following measures to conduct to conduct on-site inspection， as required by prudent supervision：

　　（1）to enter a financial institution of the banking industry for on-site inspection；

　　（2）to interview staff members of a financial institution and require them to provide explanations on the mattes under inspection；

　　（3）to check and make copies of the financial institution's documents and materials related to the under inspection， and to seal up the documents and materials that are likely to removed， concealed or destroyed； and

　　（4）to examine the computer system with which the financial institution controls its business data.

　　On-site inspection shall be subject to approval by the leading member of the banking regulatory authority. For on-site inspection， there shall be no less than two inspectors， who shall produce their legal certificates and the written notification of inspection. Where there are less than two inspectors， or no legal certificates and written notification of inspection are produced， the financial institution shall have the right to refuse to accept inspection.

　　Article 35 the banking regulatory authority may， in light of the need for performing its duties， hold supervisory consultations with t

he directors and senior managers of a financial institution of the banking industry， asking them to explain the important matters concerning business operations and risk management.

　　Article 36 The banking regulatory authority shall instruct financial institutions of the banking industry to disclose， truthfully and in accordance with relevant regulations， to the public information， including， among other things， their financial and accounting reports， statements of risk management， changes in the directors and senior managers and other important matters.

　　Article 37 where a financial institution of the banking industry violates the rules of prudent operation， the banking regulatory authority under the state council or its office at the provincial level shall instruct it to rectify within a time limit， if it fails to comply at the expiration of the time limit， or the violation seriously threatens the sound and steady operation of the institution， jeopardizes the lawful rights and interests of the depositors and other customers， the banking regulatory authority under the state council or its office at the provincial level may， with the approval of the leading member， take the following measures， depending on the seriousness of the circumstances：

　　（1）instructing it to suspend part of its business or ceasing to give approval to its of new businesses；

　　（2）restricting the distribution of dividends and other returns；

　　（3）restricting asset transfers；

　　（4）instructing the holding shareholders transfer their rights or restricting the rights of the shareholders concerned；

　　（5）instructing the institution to replace the directors or senior managers or restricting their； and

　　（6）ceasing to give approval to its establishment of new branches.

　　After rectification， the financial institution shall submit a report to the banking regulatory authority under the state council or its office at the provincial level. After the said authority or office inspects the institution and accepts it as conforming to the rules of prudent operation， it shall， within three days after the date of acceptance， discontinue the measures prescribed in the preceding paragraph.

　　Article 38 where a financial institution of the banking industry is experiencing or is likely to experience a credit crisis， thereby seriously jeopardizing the lawful rights and interests of depositors and other customers， the banking regulatory authority under the state council may， in accordance with law， take over the institution or facilitate its restructuring. The take-over and restructuring shall be carried out in accordance with relevant laws and the regulations of the state council.

　　Article 39 where a financial institution of the banking industry operates in violation of laws or is not operated or managed properly， thereby seriously threatening financial order and undermining public interests unless it is closed， the banking regulatory authority under the state council shall have power to close it.

　　Article 40 where a financial institution of banking industry is taken over， restructured， or closed， the banking regulatory authority under the state council shall have the power to require the directors， senior managers and other staff members the institution to perform their duties according to the requirements of the authority.

　　In the course of the take-over， restructuring or liquidation after the closure of the institution， the banking regulatory authority under the state council may， with the approval of the leading member of the authority， take the following measu

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