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

res against the directors and senior managers who are directly in charge and other staff members who are directly responsible：

　　（1）where their departure from the peoples Republic of china will cause heavy losses to the interests of the state， notifying the exit control authority of the need to prevent th

em， in accordance with law， from leaving the country； and

　　（2）submitting an application to the judicial authority for prohibiting their moving to other places or their transferring of their property， or for establishing other rights on their property.

　　Article 41 A banking regulatory authority shall， with the approval of the leading member of the banking regulatory authority under the state council or its office at the provincial level， have the power to inquire about the bank accounts of the financial industry of the banking industry suspected of violating laws in financial affairs， and the bank accounts of its staff member and connected parties； and may， with the approval of the said leading member， submit an application to the judicial authority for freezing the illegally obtained funds that are suspected of being about to be moved to other places or concealed.

　　Chapter V

　　Legal Responsibility

　　Article 42 Any staff member of the banking regulatory authority engaged in supervision commits any of the following acts shall be given administrative sanctions according to law， and if a crime is constituted he shall be investigated for criminal responsibility in accordance with law：

　　（1） in violation of relevant regulations examining and giving approval to the establishment， change or termination of a financial institution of the banking industry， or its business scope or the services it offers within its business scope；

　　（2）in violation of relevant regulations conducting on-site inspection of a financial institution of the banking industry；

　　（3）failing to report an emergency in accordance with the provisions in article 28 of this Law；

　　（4） in violation of relevant regulations inquiring about bank accounts or submitting an application for freezing funds；

　　（5） in violation of relevant regulations， taking measures against or penalizing financial institution of the banking industry； and

　　（6）other acts such abuse of power and neglect of duties.

　　Any staff member of the banking regulatory authority engaged in supervision who commits embezzlement， bribery or divulgence of state secrets or the business secrets he knows， which constitutes a crime， shall be investigated for criminal responsibility according to law； and if it is not serious enough to constitute a crime， he shall be given administrative sanctions according to law.

　　Article 43 where a financial institution of the banding industry is established without authorization， or the business activities of financial institutions are illegally engaged in， the banking regulatory authority under the state council shall outlaw such an institution and such business activities. If a crime is constituted， criminal responsibility shall be investigated according to law， if the case is not serious enough to constitute a crime， the unlawful gains shall be confiscated by the banking regulatory authority under the state council； if the unlawful gains exceed RMB 500，000 yuan， a fine of not less than the amount of the unlawful gains but not more than five times that amount shall in addition， be imposed and； and if there are no unlawful gains or the amount of such gains is less than 500，000 yuan， a fine of not less than 500，000 yuan but not more than 2，000，000yuan shall be imposed.

　　Article 44 where a financial institution of the banking industry commits one of the following acts， it shall be instructed by the banking regulatory authority under the state council to rectify if there are unlawful gains such gains shall be confiscated； if the unlawful gains exceed 500，000 yuan， it shall， in addition， be fined not less than the amount of such gains but not more than five times than amount； if there are no unlawful gains， or such gains are less than 500，000 yuan， it shall be fined not less than 500，000 yuan but not more than 2，000，000 yuan； if the circumstances are particularly serio

us， or if the institution fails to rectify within the prescribed period of time， the banking regulatory under the state council may instruct it to suspend business for rectification or revoke its business license； if a crime is constituted， the institution shall be investigated for criminal responsibility according to law：

　　（1）establishing a branch without approval；

　　（2）making changes or terminating business operations without approval；

　　（3）in violation of relevant regulations， engaging in business activities for which no approval is obtained or which are not put on record； and

　　（4） in violation of relevant regulations raising or lowering interest rates on deposits or loans.

　　Article 45 where a financial institution of the banking industry commits one of the following acts， the banking regulatory authority under the state council shall instruct it to rectify and shall， in addition， impose on it a fine of not less than 200，000 yuan but not more than 500，000 yuan； if the circumstances are particularly serious， or if the institution fails to rectify within the prescribed period of time， the said authority may instruct it to suspend business for rectification or revoke its business license； if a crime is constituted， the institution shall be investigated for criminal responsibility according to law：

　　（1）appointing directors or senior managers without subjecting their qualifications for the positions to examination；

　　（2）refusing to accept or obstructing the off-site supervision or on-site inspection；

　　（3）providing statements， reports， documents or materials that are false or conceal important facts；

　　（4）failing to disclose information to the public accordance with relevant regulations；

　　（5）violating the rules of prudent operation to a serious extent； and

　　（6）refusing to enforce the measures as provided for in Article 37 of this Law.

　　Article 46 where a financial institution of the banking industry fails to provide statements， reports， documents or materials in accordance with relevant regulations， the banking regulatory authority shall instruct it to rectify. If it fails to comply within the prescribed period of time， it shall be fined not less than 100，000 yuan but not more than 300，000 yuan.

　　Article 47 where a financial institution of the banking industry violates laws， administrative regulations or regulations of the state governing regulation and supervision of the banking industry， the banking regulatory authority may， in addition to the penalties specified in articles 43，44，45 and 46 of this law， take the following measures， depending on the seriousness of the circumstances：

　　（1）to instruct the financial institution to impose disciplinary sanctions on the directors and senior mangers who are directly in charge and the other persons who are directly responsible；

　　（2） if the case is not serious enough to constitute a crime， to give disciplinary warnings to the directors and senior managers who are directly in charge and the other persons who are directly responsible and impose on them each a fine of not less than 50，000 yuan but not more than 500，000 yuan； and

　　（3） to disqualify the directors and senior mangers who are directly in charge for a specified period of for life， or to prohibit them and the other persons who are directly responsible from working in the banking industry for a specified period of time or for life.

　　Chapter VI

　　Supplementary provisions

　　Article 48 where with regard to the regulation of and supervision over the policy banks and asset management companies established in the territory of the people's Republic of china， laws and administrative regulations provide otherwise the provisions there shall prevail.

　　Article 49 where with regard to the regulation of and supervision over the wholly foreign-funded financial institutions， Ch

inese-foreign joint venture financial institutions and branches of foreign financial institutions of the banking industry that are established in the territory of the people's Republic of china laws and administrative regulations provide otherwise， the provisions there shall prevail.

　　Article 50 this law shall go into effect as of February 1，2004

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