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Company Law of the Peoples Republic of China (4)
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来源：中国法律法规大全 点击数： 更新时间：2005-9-18 20:06:28 |
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SECTION THREE SOLELY STATE-OWNED COMPANIES
Article 64 The term "solely State-owned companies" used in this
law
refers to the limited liability companies established solely
by State authorized investment institution or department.
Companies designated by the State Council to
produce special products or belonging to a special trade as set
should be solely State- owned.
Article 65 The articles of association of a solely
State-owned
company shall be formulated by the State
authorized investment institution or department in accordance with
the law or by the board of directors and be submitted to
the investment institution or department concerned authorized
by the State for
approval.
Article 66 A solely State-owned company shall not set up
the
meeting of shareholders but the board of directors
which is empowered by the investment organization or department
authorized by the State to exercise part of the powers and functions
of the meeting of shareholder and decide on major matters
concerning the company. But merger, division, dissolution or the
increase or decrease of capital and issuing of bonds shall be
determined by the investment institution or department concerned
authorized by the State.
Article 67 The State authorized investment institution
or
department shall supervise over and manage the assets of
the solely State-owned company according to law or
administrative
decrees.
Article 68 The board of directors of a solely State-owned
company
shall exercise its powers and functions according to the
provisions of Article 46 and Article 66 of this law. The term of
office of the board of directors shall be three years.
The board of directors shall be made up of three
to nine persons, who are subject to the appointment
or replacement by the investment institution or department
authorized by the State according to the term of office for
the board of directors. Workers in the company should
elect through democratic processes representatives to the board of
directors.
The board of directors shall have a chairman or may have
a vice- chairmen if necessary. The chairman and vice-chairmen of
the board shall be designated from among the directors by
the investment institution or department authorized by the State.
The chairman of the board is the legal representative
of the company.
Article 69 A solely State-owned company shall have a manager
who shall be subject to the appointment or dismissal by the board
of directors and exercises the powers according to the
provisions of Article 50 of this la[1] [2] [3] [4] 下一页
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