Auction Law of the People's Republic of China
(Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)

Chapter I - General Provisions

Chapter II - Auction Targets

Chapter Three - Parties Involved in Auction

Section III - Auctioneers

Section Two - Trustees

Section Three - Bidders

Section Four - Buyers

Chapter IV - Auction Procedures

Section One - Auction Trust

Section Two - The Auction Notice and Display

Section Three - The Implementation of Auctions

Section Four - Commission

Chapter V - Legal Liabilities

Chapter Six - Supplementary Articles

Metadata

SiSU Metadata, document information

Manifest

SiSU Manifest, alternative outputs etc.

China - Auction Law, 1996

MOFTEC

copy @ Lex Mercatoria

Auction Law of the People's Republic of China
(Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)

Chapter Three - Parties Involved in Auction

Section III - Auctioneers

Article 12

Whoever establishes an auction enterprise shall meet the following requirements:

(1) Having a registered capital of at least one million yuan;

(2) Having his own name, organizational setup, residence and articles of association;

(3) Having auctioneers and other staff qualified for the auctioning business;

(4) Having formulated rules on the auction business that comply with this Law and the stipulations of other relevant laws;

(5) Having the permit on a special industry issued by the public security department;

(6) Complying with the State Council provisions regarding the development of the auctioning industry; and

(7) Meeting other requirements as prescribed by laws and administrative decrees.

( International Trade/Commercial Law & e-Commerce Monitor )

W3 since October 3 1993
1993 - 2010

started @The University of Tromsø, Norway, 1993
hosted by The University of Oslo, Norway, since 1998
in fellowship with The Institute of International Commercial Law,
Pace University, White Plains, New York, U.S.A.

Disclaimer!

^©

Ralph Amissah

Auction Law of the People's Republic of China (Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)

Chapter I - General Provisions

Chapter II - Auction Targets

Chapter Three - Parties Involved in Auction

Section III - Auctioneers

Section Two - Trustees

Section Three - Bidders

Section Four - Buyers

Chapter IV - Auction Procedures

Section One - Auction Trust

Section Two - The Auction Notice and Display

Section Three - The Implementation of Auctions

Section Four - Commission

Chapter V - Legal Liabilities

Chapter Six - Supplementary Articles

Metadata

Manifest

Auction Law of the People's Republic of China (Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)

Chapter Three - Parties Involved in Auction

Section III - Auctioneers

Article 12

Auction Law of the People's Republic of China
(Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)

Auction Law of the People's Republic of China
(Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)