Shenzhen Stock Exchange releases reference text of rules for meeting of bondholders

category:Finance
 Shenzhen Stock Exchange releases reference text of rules for meeting of bondholders


All parties should participate in the meeting to determine their rights and responsibilities. In terms of preparation before the meeting, the reference text stipulates that the trustee is the main convener, strengthens the leading role of the convener, strengthens the communication with the issuers, credit enhancement subjects, holders and other stakeholders, and modifies and improves the motions, so as to ensure that the meeting bills are legal, compliant and feasible. In the process of the meeting, it is clear that the issuer or its related parties shall attend the meeting according to the requirements of the convener, accept inquiries and make explanations. After the resolution of the meeting is formed, the trustee shall actively perform its duties and duties, and urge the issuer or its related parties to reply in time or effectively implement it.

Improve the standardization of the meeting and give consideration to the flexibility of the procedures. The reference text comprehensively standardizes the general meeting procedures, and details the procedural requirements of the key nodes of the meeting convening, convening and resolution. At the same time, the reference text stipulates that the notice time of the meeting can be shortened in case of emergency and conducive to the protection of the rights and interests of bondholders, and simplified procedures are allowed for the matters to be considered that are not expected to have a significant adverse impact on the protection of the rights and interests of bondholders.

According to the requirements of the summary of the Supreme Court case trial forum, improve the unity of the rules. The Supreme Peoples court recently issued the minutes of the National Forum on trial of bond dispute cases, which regulates the arrangements for the withdrawal of voting at bondholders meetings, the binding force of resolutions, and the qualification of litigation subjects. In reference to the relevant provisions of the minutes, the reference document details the specific scope of issuers and their related parties who evade voting, adds credit enhancement subjects and debt undertaking parties avoidance voting arrangements, and clarifies that unless otherwise specified or agreed, the resolutions of the shareholders meeting shall be effective for all the holders; the trustee shall have the right to propose and participate in the voting on behalf of all or part of the holders authorized by the resolution of the meeting Litigation. Investors are the foundation of market development. Respecting investors, respecting investors and protecting investors are the concrete embodiment of the people-centered development thought of capital market. The relevant person in charge of the Shenzhen Stock Exchange said that in the next step, the Shenzhen Stock Exchange will continue to implement the spirit of the new securities law, earnestly implement the policy of system building, non intervention and zero tolerance, continuously improve the basic system, actively respond to market concerns, continue to strengthen legal protection and system supply, and implement the protection of investors legitimate rights and interests throughout the whole process of supervision China has helped to create a standard, transparent, open, dynamic and resilient capital market. Source: Securities Times Author: Wu Shaolong editor: Wang Xiaowu_ NF

According to the requirements of the summary of the Supreme Court case trial forum, improve the unity of the rules. The Supreme Peoples court recently issued the minutes of the National Forum on trial of bond dispute cases, which regulates the arrangements for the withdrawal of voting at bondholders meetings, the binding force of resolutions, and the qualification of litigation subjects. In reference to the relevant provisions of the minutes, the reference document details the specific scope of issuers and their related parties who evade voting, adds credit enhancement subjects and debt undertaking parties avoidance voting arrangements, and clarifies that unless otherwise specified or agreed, the resolutions of the shareholders meeting shall be effective for all the holders; the trustee shall have the right to propose and participate in the voting on behalf of all or part of the holders authorized by the resolution of the meeting Litigation.

Investors are the foundation of market development. Respecting investors, respecting investors and protecting investors are the concrete embodiment of the people-centered development thought of capital market.

The relevant person in charge of the Shenzhen Stock Exchange said that in the next step, the Shenzhen Stock Exchange will continue to implement the spirit of the new securities law, earnestly implement the policy of system building, non intervention and zero tolerance, continuously improve the basic system, actively respond to market concerns, continue to strengthen legal protection and system supply, and implement the protection of investors legitimate rights and interests throughout the whole process of supervision China has helped to create a standard, transparent, open, dynamic and resilient capital market.