or more of the voting rights of all the shareholders of the company may plead the people’s court to dissolve the company.
Article 184 Where any company is dissolved according to the provisions of Article 181 (1), (2), (4), or (5) of this Law, a liquidation group shall be formed within fifteen days after the
occurrence of the cause of dissolution so as to carry out a liquidation. The liquidation group of a limited liability company shall be composed of the shareholders, while that of a joint stock limited company shall be composed of the directors or any other people as determined by the shareholders’ assembly. Where no liquidation group is formed within the time limit, the creditors may plead the people’s court to designate relevant persons to form a liquidation group. The people’s court shall accept such request and form a liquidation group so as to carry out the liquidation in a timely manner.
的，持有公司全部股东表决权百分之十以上的股东，可以请求人民法院解散公司。
第一百八十四条 【清算组的成立与组成】公司因本法第一百八十一条第（一）项、第（二）项、第（四）项、第（五）项规定而解散的，应当在解散事由出现之日起十五日内成立清算组，开始清算。有限责任公司的清算组由股东组成，股份有限公司的清算组由董事或者股东大会确定的人员组成。逾期不成立清算组进行清算的，债权人可以申请人民法院指定有关人员组成清算组进行清算。人民法院应当受理该申请，并及时组织清算组进行清算。
Article 185 The liquidation group may exercise the following functions during the process of liquidation:
(1) liquidating the properties of the company, producing balance sheets and asset checklists; (2) notifying creditors by mail or public announcement;
(3) handling and liquidating the unfinished business of the company;
(4) paying off the outstanding taxes and the taxes incurred in the process of liquidation; (5) claiming credits and paying off debts;
(6) disposing the remaining properties after all the debates being paid off; and (7) participating in the civil proceedings of the company.
第一百八十五条 【清算组的职权】清算组在清算期间行使下列职权：
（一）清理公司财产，分别编制资产负债表和财产清单；
（二）通知、公告债权人；
（三）处理与清算有关的公司未了结的业务； （四）清缴所欠税款以及清算过程中产生的税款；
（五）清理债权、债务；
（六）处理公司清偿债务后的剩余财产； （七）代表公司参与民事诉讼活动。
Article 186 The liquidation group shall, notify the creditors within ten days after its formation and make a public announcement on newspapers within 60 days after its formation. The creditors shall, within thirty days after receiving the notice or within 45 days after the issuance of the public announcement in the case of failing to receiving a notice, declare their credits before the liquidation group.
To declare credits, a creditor shall describe the relevant matters and provide relevant evidential materials.
The liquidation group shall record the declared credits and may not pay off any debts to any creditors during the period of credit declaration.
Article 187 The liquidation group shall, after liquidating the properties of the company and producing balance sheets and checklists of properties, make a plan of liquidation and report the report to the shareholders’ meeting, the shareholders’ assembly, or the people’s court for confirmation.
After paying off the liquidation expenses, wages of employees, social insurance premiums and legal indemnities, the outstanding taxes and the debts of the company, the remaining properties may, in the case of a limited liability company, be distributed according to the proportion of capital contribution of the shareholders, or, in the case of a joint stock limited company, distributed according to the proportion of stocks held by the shareholders. During the liquidation, the company continues to exist but may not carry out any business operation that has nothing to do with liquidation. None of the properties of the company may be distributed to any shareholder before they are used for debate payoff as described in the preceding paragraph.
Article 188 If the liquidation group finds that the properties of the company is not sufficient for paying off the debts after liquidating the properties of the company and producing balance sheets and checklists of properties, it shall file an application to the people’s court for bankruptcy.
Once the people’s court makes a ruling declaring the company bankrupt, the liquidation group
第一百八十六条 【清算期间的债权申报】清算组应当自成立之日起十日内通知债权人，并于六十日内在报纸上公告。债权人应当自接到通知书之日起三十日内，未接到通知书的自公告之日起四十五日内，向清算组申报其债权。
债权人申报债权，应当说明债权的有关事项，并提供证明材料。清算组应当对债权进行登记。 在申报债权期间，清算组不得对债权人进行清偿。
第一百八十七条 【清算方案的制定与公司财产的处理】清算组在清理公司财产、编制资产负债表和财产清单后，应当制定清算方案，并报股东会、股东大会或者人民法院确认。
公司财产在分别支付清算费用、职工的工资、社会保险费用和法定补偿金，缴纳所欠税款，清偿公司债务后的剩余财产，有限责任公司按照股东的出资比例分配，股份有限公司按照股东持有的股份比例分配。
清算期间，公司存续，但不得开展与清算无关的经营活动。公司财产在未依照前款规定清偿前，不得分配给股东。
第一百八十八条 【宣告破产】清算组在清理公司财产、编制资产负债表和财产清单后，发现公司财产不足清偿债务的，应当依法向人民法院申请宣告破产。
公司经人民法院裁定宣告破产后，清算组应当
shall hand over the liquidation matters to the people’s court. 将清算事务移交给人民法院。
Article 189 After the liquidation of the company is completed, the liquidation group shall made a liquidation report and submit the report to the shareholders’ meeting, the shareholders’ assembly, the people’s court for confirmation, and the company registration authority to deregister the company. The liquidation group shall also make a public announcement regarding the cease of the company.
Article 190 The members of the liquidation group shall devote themselves to their duties and perform their obligations of liquidation according to law.
None of the members of the liquidation group may take advantage of his position to take any bribe or any other illegal proceeds, nor may he misappropriate any of the properties of the company.
Where any of the members of the liquidation group causes any loss to the company or any creditor by intention or due to gross negligence, he shall make respective compensations. Article 191 Where a company is declared bankrupt according to law, it shall carry out a bankruptcy liquidation according to the legal provisions concerning bankruptcy liquidation.
第一百八十九条 【清算报告的报送及公司注销登记】公司清算结束后，清算组应当制作清算报告，报股东会、股东大会或者人民法院确认，并报送公司登记机关，申请注销公司登记，公告公司终止。
第一百九十条 【清算组成员的义务】清算组成员应当忠于职守，依法履行清算义务。 清算组成员不得利用职权收受贿赂或者其他非法收入，不得侵占公司财产。
清算组成员因故意或者重大过失给公司或者债权人造成损失的，应当承担赔偿责任。
第一百九十一条 【破产清算的法律依据】公司被依法宣告破产的，依照有关企业破产的法律实施破产清算。
Chapter XI Branches of Foreign Companies
第十一章 外国公司的分支机构
Article 192 The term \established beyond the territory of China according to any foreign law.
第一百九十二条 【外国公司的定义】本法所称外国公司是指依照外国法律在中国境外设立的公司。
Article 193 A foreign company which plans to establish any branch within the territory of China shall submit an application to the competent authority of China and other relevant documents such as the articles of incorporation, the company registration certificate issued by the country where the foreign company was established. After the application is approved, the foreign company shall go through registration formalities with the company registration authority according to law and obtain a business license.
The measures for the examination and approval of the branches of foreign companies shall be separately formulated by the State Council.
Article 194 Where a foreign company establishes any branch within the territory of China, it must designate a representative or agent within the territory of China to take charge of the branch, and shall allocate to the branch funds which are in match with the business activities it is engaged in.
第一百九十三条 【外国公司分支机构的设立申请及审批】外国公司在中国境内设立分支机构，必须向中国主管机关提出申请，并提交其公司章程、所属国的公司登记证书等有关文件，经批准后，向公司登记机关依法办理登记，领取营业执照。
外国公司分支机构的审批办法由国务院另行规定。
第一百九十四条 【外国公司分支机构的设立及资金要求】外国公司在中国境内设立分支机构，必须在中国境内指定负责该分支机构的代表人或者代理人，并向该分支机构拨付与其所从事的经营活动相适应的资金。
对外国公司分支机构的经营资金需要规定最低限额的，由国务院另行规定。
Article 195 The branch of a foreign company shall indicate in its name the nationality and the form of liability of the foreign company concerned.
The branch of a foreign company shall keep a copy of the bylaw of the foreign company at its office.
第一百九十五条 【外国公司分支机构的名称要求及章程置备】外国公司的分支机构应当在其名称中标明该外国公司的国籍及责任形式。 外国公司的分支机构应当在本机构中置备该外国公司章程。
Article 196 The branch of a foreign company established within the territory of China does not have the status of a legal person.
A foreign company shall bear civil liabilities for the business operations of its branches carried out within the territory of China.
第一百九十六条 【外国公司分支机构不具有中国法人资格】外国公司在中国境内设立的分支机构不具有中国法人资格。
外国公司对其分支机构在中国境内进行经营活动承担民事责任。
Article 197 The branches of foreign companies which are established upon approval shall abide by the laws of China in their business activities within the territory of China, and may not injure the social public interests of China, and the lawful rights and interests thereof shall be protected by Chinese law.
第一百九十七条 【外国公司分支机构的合法经营义务及合法权益的保护】经批准设立的外国公司分支机构，在中国境内从事业务活动，必须遵守中国的法律，不得损害中国的社会公共利益，其合法权益受中国法律保护。
Article 198 Where a foreign company relinquishes any of its branches within the territory of China, it must clear off the debts thereof according to law, and shall carry out a liquidation according to the provisions of this Law regarding the procedures for the liquidation of companies. Before the debts are cleared off, it may not transfer any of the properties of the branch out of China. Chapter XII Legal Liabilities
第一百九十八条 【外国公司撤销分支机构的条件】外国公司撤销其在中国境内的分支机构时，必须依法清偿债务，依照本法有关公司清算程序的规定进行清算。未清偿债务之前，不得将其分支机构的财产移至中国境外。
第十二章 法律责任
Article 199 Where anyone obtains the registration of a company by fabricating a registered capital, submitting false materials or by any other fraudulent means to conceal any important facts, he shall be ordered by the company registration authority to make a rectification. In the case of fabricating a registered capital, he shall be fined not less than 5% but not more than 15% of the fabricated registered capital; in the case of submitting false materials or by any other fraudulent means so that any important facts are concealed, he shall be fined not less than 5,000 yuan but not more than 50,000 yuan; if the circumstances are serious, the company registration certificate shall be revoked or the business license shall be canceled.
第一百九十九条 【公司登记违法的法律责任】违反本法规定，虚报注册资本、提交虚假材料或者采取其他欺诈手段隐瞒重要事实取得公司登记的，由公司登记机关责令改正，对虚报注册资本的公司，处以虚报注册资本金额百分之五以上百分之十五以下的罚款；对提交虚假材料或者采取其他欺诈手段隐瞒重要事实的公司，处以五万元以上五十万元以下的罚款；情节严重的，撤销公司登记或者吊销营业执照。
Article 200 Any of the promoters or shareholders of a company who makes any false capital contribution or fails to deliver or fails to deliver in good time the money or non-monetary properties used as capital contribution shall be ordered by the company registration authority to make a rectification and shall be fined not less than 5% but not more than 15% of the sum of false capital contribution.
Article 201 Where any promoter or shareholder unlawfully withdraws his capital contribution after the company is established, he shall be ordered by the company registration authority to make a rectification, and shall be fined not less than 5% but not more than 15% of the capital contribution he has unlawfully taken away.
第二百条 【公司的发起人、股东出资违法的法律责任】公司的发起人、股东虚假出资，未交付或者未按期交付作为出资的货币或者非货币财产的，由公司登记机关责令改正，处以虚假出资金额百分之五以上百分之十五以下的罚款。
第二百零一条 【公司的发起人、股东抽逃出资的法律责任】公司的发起人、股东在公司成立后，抽逃其出资的，由公司登记机关责令改正，处以所抽逃出资金额百分之五以上百分之十五以下的罚款。
Article 202 Any company which establishes another set of accounting books apart from legally prescribed accounting books in violation of this Law shall be ordered by the treasury
department of the people’s government at the county level or above to make a rectification, and shall be fined not less than 50,000 yuan but not more than 500, 000 yuan.
Article 203 Where any company makes any false records or conceals any important facts in such materials as financial and accounting statements submitted to the relevant departments in charge, the relevant department in charge shall impose a fine of not more than 30, 000 yuan but not more than 300, 000 yuan upon the directly liable persons in charge and other directly liable persons.
Article 204 Where any company fails to draw legal accumulative funds according to this Law, it shall be ordered by the treasury department of the people’s government at the county level or above to make up the amount it is due, and may be fined up to 200, 000 yuan.
第二百零二条 【公司另立会计账簿的法律责任】公司违反本法规定，在法定的会计账簿以外另立会计账簿的，由县级以上人民政府财政部门责令改正，处以五万元以上五十万元以下的罚款。 第二百零三条 【提交财务会计报告违法的法律责任】公司在依法向有关主管部门提供的财务会计报告等材料上作虚假记载或者隐瞒重要事实的，由有关主管部门对直接负责的主管人员和其他直接责任人员处以三万元以上三十万元以下的罚款。 第二百零四条 【违法提取法定公积金的法律责任】公司不依照本法规定提取法定公积金的，由县级以上人民政府财政部门责令如数补足应当提取的金额，可以对公司处以二十万元以下的罚款。
Article 205 Where any company fails to notify its creditors by notice or by public announcement in the process of merger, split, reducing its registered capital or liquidation, the company shall
第二百零五条 【公司在合并、分立、减少注册资本和清算中的违法行为及其法律责任】公司在
be ordered by the company registration authority to make a rectification, and may be fined not less than 10, 000 yuan but not more than 100, 000 yuan.
Where, in the process of liquidation, any company hides any of its properties or makes any false record in its balance sheet or property checklist or distributes any of the company’s property before clearing off its debts, it shall be ordered by the company registration authority to make a rectification, and may be fined not less than 5% but not more than 10% of the value of the company properties it has hidden or distributed prior to the clearing of company debts, and the directly liable person-in-charge as well other directly liable persons may be fined not less than 10, 000 yuan but not more than 100, 000 yuan.
合并、分立、减少注册资本或者进行清算时，不依照本法规定通知或者公告债权人的，由公司登记机关责令改正，对公司处以一万元以上十万元以下的罚款。
公司在进行清算时，隐匿财产，对资产负债表或者财产清单作虚假记载或者在未清偿债务前分配公司财产的，由公司登记机关责令改正，对公司处以隐匿财产或者未清偿债务前分配公司财产金额百分之五以上百分之十以下的罚款；对直接负责的主管人员和其他直接责任人员处以一万元以上十万元以下的罚款。
Article 206 Where, in the process of liquidation, any company carries out any business activity which has nothing to do with the liquidation, it shall be admonished by the company registration authority and its illegal proceeds shall be confiscated.
第二百零六条 【公司在清算期间违法经营的法律责任】公司在清算期间开展与清算无关的经营活动的，由公司登记机关予以警告，没收违法所得。
Article 207 Where a liquidation group fails to submit a liquidation report to the company registration authority according to the provisions of this Law or where any important fact is concealed or there is any important omission in the liquidation report it submits, it shall be ordered by the company registration authority to make a rectification.
Where any member of the liquidation group takes advantage of his power to seek unlawful benefits for himself or any of his relatives, procures any unlawful gains, or misappropriates any of the company’s properties, the company registration authority may order him to return the company property and confiscate his illegal gains, and may also impose a fine of between 1 and 5 times of the illegal proceeds on him.
Article 208 Where any institution that undertakes the appraisal or verification of assets or the verification of certificates provides any false materials, the company registration authority may confiscate its illegal proceeds and impose a fine between 1 and 5 times of the illegal proceeds, and the competent administrative department may also order the institution to suspend its business operation or revoke the qualifications certificates of the directly liable persons and its business license.
Where any institution that undertakes the appraisal or verification of assets or the verification of certificates has any important omission in the report it submits, the company registration authority may order the institution to make a rectification; if the circumstances are serious, it shall be fined between 1 and 5 times of the proceeds it has obtained, and the competent administrative department may order the institution to suspend its business operation and revoke the qualifications certificate of the directly liable persons and its business license. Where the appraisal result or proof of asset verification or certificate verification as provided by any institution that undertakes the appraisal or verification of assets or the verification of certificates is proved to be untrue and has caused any loss to the creditors of the company, the institution shall bear the compensation liabilities within the sum that is found to be untrue, unless it could prove that the loss is not the result of its fault.
Article 209 Where any company registration authority registers any application that does not meet the conditions as provided by this Law or fails to register any application that meets the conditions as prescribed by this Law, the directly liable person-in-charge and other directly liable persons shall be given an administrative sanction.
第二百零七条 【清算组及其成立对其违法行为的法律责任】清算组不依照本法规定向公司登记机关报送清算报告，或者报送清算报告隐瞒重要事实或者有重大遗漏的，由公司登记机关责令改正。 清算组成员利用职权徇私舞弊、谋取非法收入或者侵占公司财产的，由公司登记机关责令退还公司财产，没收违法所得，并可以处以违法所得一倍以上五倍以下的罚款。
第二百零八条 【资产评估、验资或验证机构对其违法行为的法律责任】承担资产评估、验资或者验证的机构提供虚假材料的，由公司登记机关没收违法所得，处以违法所得一倍以上五倍以下的罚款，并可以由有关主管部门依法责令该机构停业、吊销直接责任人员的资格证书，吊销营业执照。 承担资产评估、验资或者验证的机构因过失提供有重大遗漏的报告的，由公司登记机关责令改正，情节较重的，处以所得收入一倍以上五倍以下的罚款，并可以由有关主管部门依法责令该机构停业、吊销直接责任人员的资格证书，吊销营业执照。
承担资产评估、验资或者验证的机构因其出具的评估结果、验资或者验证证明不实，给公司债权人造成损失的，除能够证明自己没有过错的外，在其评估或者证明不实的金额范围内承担赔偿责任。
第二百零九条 【登记机关违法行为的法律责任】公司登记机关对不符合本法规定条件的登记申请予以登记，或者对符合本法规定条件的登记申请不予登记的，对直接负责的主管人员和其他直接责任人员，依法给予行政处分。
Article 210 Where the superior organ of any company registration authority forces the latter to register any application that does not meet the conditions as prescribed in this Law, decline any application that meets the conditions as provided for in this Law, or covers up for any illegal registration, the directly liable person-in-charge and other directly liable persons shall be given
第二百一十条 【登记机关上级部门违法行为的法律责任】公司登记机关的上级部门强令公司登记机关对不符合本法规定条件的登记申请予以登记，或者对符合本法规定条件的登记申请不予登记
an administrative sanction according to law. 的，或者对违法登记进行包庇的，对直接负责的主管人员和其他直接责任人员依法给予行政处分。
Article 211 Where anyone who fails to register as a limited liability company or joint stock limited company according to law but carries out its business operations in the name of the limited liability company or joint stock limited company or who fails to register as a subsidiary of any limited liability company or joint stock limited company according to law but carries out its business operations in the name of the subsidiary of any limited liability company or joint stock limited company, the company registration authority may order him to make a rectification or close down his business, and may also impose a fine of no more than 100,000 yuan on him. Article 212 Where any company fails to start its business operations six months after it is established without justifiable reasons or suspends its business operations on its own initiative for consecutively six months after it has started business operations, its business license may be canceled by the company registration authority.
Where any registered item of any company changes, and the company fails to go through the corresponding modification procedures according to this Law, it shall be ordered by the company registration authority to make modification registration within a time limit; if it still fails to make the registration, it shall be fined not less than 10, 000 yuan but not more than 100, 000 yuan.
Article 213 Where any foreign company violates this Law by unlawfully establishing a branch within China, the company registration authority may order the company to make a rectification or to close down its branch, and may also impose a fine of not less than 50,000 yuan but not more than 200, 000 yuan on the company.
第二百一十一条 【假冒公司的违法行为及其法律责任】未依法登记为有限责任公司或者股份有限公司，而冒用有限责任公司或者股份有限公司名义的，或者未依法登记为有限责任公司或者股份有限公司的分公司，而冒用有限责任公司或者股份有限公司的分公司名义的，由公司登记机关责令改正或者予以取缔，可以并处十万元以下的罚款。 第二百一十二条 【不当停业及不依法办理变更登记的法律责任】公司成立后无正当理由超过六个月未开业的，或者开业后自行停业连续六个月以上的，可以由公司登记机关吊销营业执照。 公司登记事项发生变更时，未依照本法规定办理有关变更登记的，由公司登记机关责令限期登记；逾期不登记的，处以一万元以上十万元以下的罚款。
第二百一十三条 【外国公司擅自在中国境内设立分支机构的法律责任】外国公司违反本法规定，擅自在中国境内设立分支机构的，由公司登记机关责令改正或者关闭，可以并处五万元以上二十万元以下的罚款。
Article 214 Where a company conducts any serious illegal activities in the name of the company, which may endanger the security of the state or the public interest of the society, the business license of the company shall be revoked.
第二百一十四条 【危害国家安全与社会公共利益的法律责任】利用公司名义从事危害国家安全、社会公共利益的严重违法行为的，吊销营业执照。
Article 215 Where any company violates any provision of this Law, it shall bear the respective civil liabilities of compensation and pay the respective fines and pecuniary penalties; if its property is not enough to pay for all the liabilities, it shall pay for the civil liabilities first.
第二百一十五条 【民事赔偿优先原则】公司违反本法规定，应当承担民事赔偿责任和缴纳罚款、罚金的，其财产不足以支付时，先承担民事赔偿责任。
Article 216 Where any company that violates this Law and any crime is constituted, it shall be investigated for criminal liabilities. Chapter XIII Supplementary Provisions
第二百一十六条 【刑事责任的追究】违反本法规定，构成犯罪的，依法追究刑事责任。
第十三章 附则
Article 217 Definitions of the following terms:
(1) The \officers, the secretary of the board of directors of a listed company, or any other persons provided in the bylaw.
(2) A \or more in the total capital of a limited liability company or a shareholder whose stocks occupies more than 50% of the total equity stocks of a joint stock limited company or a shareholder whose capital contribution or proportion of stock is less than 50% but who enjoys a voting right according to its capital contribution or the stocks it holds is large enough to impose an big impact upon the resolution of the shareholders’ meeting or the shareholders’ assembly. (3) An \control of the acts of the company by means of investment relations, agreements or any other
第二百一十七条 【本法所涉相关用语的含义】本法下列用语的含义：
（一）高级管理人员，是指公司的经理、副经理、财务负责人，上市公司董事会秘书和公司章程规定的其他人员。
（二）控股股东，是指其出资额占有限责任公司资本总额百分之五十以上或者其持有的股份占股份有限公司股本总额百分之五十以上的股东；出资额或者持有股份的比例虽然不足百分之五十，但依其出资额或者持有的股份所享有的表决权已足以对股东会、股东大会的决议产生重大影响的股东。 （三）实际控制人，是指虽不是公司的股东，
arrangements.
(4) \actual controllers, directors, supervisors, or senior management persons of a company and the enterprise directly or indirectly controlled thereby and any other relationship that may lead to the transfer of any interest of the company. However, the enterprises controlled by the state do not incur a connection relationship simply because their shares are controlled by the state.
但通过投资关系、协议或者其他安排，能够实际支配公司行为的人。
（四）关联关系，是指公司控股股东、实际控制人、董事、监事、高级管理人员与其直接或者间接控制的企业之间的关系，以及可能导致公司利益转移的其他关系。但是，国家控股的企业之间不仅因为同受国家控股而具有关联关系。
Article 218 The limited liability companies and joint stock limited companies invested by foreign investors shall be governed by this Law. Where there are otherwise different provisions in any law regarding foreign investment, such provisions shall prevail.
第二百一十八条 【本法在外商投资领域的适用及例外】外商投资的有限责任公司和股份有限公司适用本法；有关外商投资的法律另有规定的，适用其规定。
Article 219 This Law shall become effective on January 1, 2006.
第二百一十九条 【生效施行日期】本法自2006年1月1日起施行。
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