Guidance on pilot small loan companies

For full implementation science development views, effective configuration financial resources, guide funds flows rural and owes developed area, improved rural area financial service, promote agricultural, and farmers and rural economic development, support Socialist new rural construction, now on small loan company pilot matters proposed following guide views:
a, and small loan company of nature small loan company is by natural, and corporate and other social organization investment established, not absorption public deposits, Business of microcredit limited liability companies or limited.
micro-credit companies are enterprise legal persons, have an independent corporate property, property rights, to all the property shall bear civil liability for its debts. Microfinance company shareholders shall have the assets and the right to participate in major decisions and choose managers, its subscribed capital or subscription of shares in limited companies responsible.
   micro-loan companies should be implementing national financial principles and policies, operating within the limits prescribed by laws and regulations, independent management and profit, self-restraint, at their own risk, its legitimate business activities are protected by law and not subject to any interference by any unit or individual.
Second, the establishment of a microfinance Company    name of a microfinance company shall be by administrative divisions, size, sector, organization composed, which refers to the name of the county-level administrative division of administrative division, Organization for a limited liability company or Corporation.
shareholders subject to the quorum of a microfinance company. Limited liability company should be set up by 50 or fewer shareholders; limited 2--200 promoters, which must have more than half of the sponsors are domiciled within the territory of China.
sources of the registered capital of a microfinance company shall be true and legal, all paid-up capital from investors or sponsors once paid. Limited liability company with registered capital of no less than 5 million Yuan, the company's registered capital shall not be less than 10 million Yuan. A single natural person, Enterprise legal persons and other social organization and its affiliates hold shares, shall not exceed the total amount of registered capital of a microfinance company 10%.
apply for the establishment of a microfinance company, shall provide the provincial government authorities make a formal request, approval, registration formalities apply to the local administration for industry and Commerce and obtain a business license. In addition, within five working days on local public security organs and the local Office of the China Banking Regulatory Commission and the people's Bank of China branches to submit relevant information.
micro-credit companies should comply with the provisions of regulation and management system, business premises, organizations should have the necessary institutions, staff with the appropriate expertise and experience.
  -funded microfinance company natural person, Enterprise legal persons and other social organizations, microfinance company to be appointed directors, supervisors and senior managers of natural persons, should have no criminal record and a bad credit record.
micro-loan companies in the local tax department to handle tax registration, and to pay various taxes and fees.