Friday 27 June 2014

China Updates- "New Regulations" on foreign exchange/security

The State Administration of Foreign Exchange of the PRC (SAFE) has issued the wide-ranging, so -called "New Regulations" on foreign exchange/security, effective 1st June 2014.

Key Changes include:

  • Abolition of need for prior SAFE approval and quota requirements for cross-border security;
  • Reduction of SAFE registration requirement to two specific types of cross-border security only;
  • Removal of eligibility requirement for SAFE approval/ registration in order for cross-border securities to be valid;
  • Removal of SAFE verification requirement for cross-border securities.

The effecr of the New Regulations is to significantly relax control over cross-border securities and PRC/cross-border financing.

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Wednesday 25 June 2014

Hong Kong Updates- New Companies Ordinance & Competition Ordinance

New Companies Ordinance
The Companies Registry has appointed 3rd June 2014 as the date after which old forms will not be accepted for Registration.

Competition Ordinance
On 14th June 2012, the Competition Commission and the Competition Tribunal were established under the Competition Ordinance, including appointment of its members.

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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our WebsiteBloggerLinkedIn and stay tunned for our updates!
===================================================================
Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
Website: Primasia HK / Primasia China
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong