PRC: rules relating to the provision of cross-border security are relaxed
The Provisions on the Administration of Foreign Exchange for Cross-Border Security, published by the State Administration of Foreign Exchange (SAFE) in the PRC replace 12 existing regulations providing for cross-border security.
Reflecting a huge step forward by SAFE, the new regulations apply to and regulate all kinds of cross-border security structures, including the following three categories, which are based on the places of registration of the parties:
(i) Nei Bao Wai Dai or ‘Outbound Security’, where the security provider is registered onshore (i.e. Chinese) and the obligor and the creditor are both registered offshore; thus, for example, where a guarantee is given, only the guarantor is Chinese…
Click on the link below to read the rest of the Ince & Co briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ince & Co
News from The Lawyer
Briefings from Ince & Co
The reasons given for contract terminations are many and varied, but in each case the fundamental motivation is generally the same.
In The Astra, Mr Justice Popplewell has concluded that payment of hire by the charterers was not a condition of the charterparty.