AsianLII [Home] [Databases] [WorldLII] [Search] [Feedback]

Laws of the People's Republic of China

You are here:  AsianLII >> Databases >> Laws of the People's Republic of China >> INTERIM PROVISIONS CONCERNING THE USE OF DONATIONS IN FOREIGN EXCHANGE MADE BY OVERSEAS CHINESE AND COMPATRIOTS FROM HONG KONG, MACAO AND TAIWAN IN THE REGULATION OF FOREIGN EXCHANGE

[Database Search] [Name Search] [Noteup] [Help]


INTERIM PROVISIONS CONCERNING THE USE OF DONATIONS IN FOREIGN EXCHANGE MADE BY OVERSEAS CHINESE AND COMPATRIOTS FROM HONG KONG, MACAO AND TAIWAN IN THE REGULATION OF FOREIGN EXCHANGE

Interim Provisions Concerning the Use of Donations in Foreign Exchange Made by Overseas Chinese and Compatriots From HONG KONG, MACAO AND TAIWAN in the Regulation of Foreign exchange

     (Effective Date:1989.07.01--Ineffective Date:)

These Provisions are formulated, in accordance with the Provisions of the State Council Concerning the Administration of Imported Goods and Materials Donated by Overseas Chinese and Compatriots from Hong Kong, Macao and Taiwan promulgated by the State Council on February 20, 1989, in order to handle cases concerning the use of donations in foreign exchange made by overseas Chinese and compatriots from Hong Kong, Macao and Taiwan to domestic units in the regulation of foreign exchange.

   Article 1. The term "donor(s)", as used in these Provisions, refers to overseas Chinese and compatriots from Hong Kong, Macao and Taiwan.

   Article 2. The term "recipient-unit(s) of donations", as used in these Provisions, refers to non-profit making social organizations and institutions, including various nongovernmental organizations and associations, foundations, religious organizations, units of scientific research, culture and education, medicine and public health, and units that undertake various kinds of public welfare.

   Article 3. When recipient-units wish to participate in the regulation of foreign exchange, they shall file an application to the State Administration of Foreign Exchange Control, or to its local offices, on the strength of the following documents:

(1) A letter of intent furnished by the donor indicating his/her willingness to make the donation (including the amount of the donation and its intended uses);

(2) The written approval, issued by the examining and approving department designated in accordance with the stipulations on limits of powers for examination and approval in Document No. 110 issued by the State Council in 1982, indicating its approval for recipient-unit to accept the donation in foreign exchange;

(3) The report by the recipient-unit applying for participation in the regulation of foreign exchange.

   Article 4. The foreign exchange donated to the governments at various levels by overseas Chinese and compatriots from Hong Kong, Macao and Taiwan for disaster relief in their respective areas, shall be permitted to be used in the regulation of foreign exchange.

   Article 5. The amount of Renminbi(RMB) obtained by a recipient-unit from regulation of foreign exchange must be used in accordance with the purpose of the donation specified in the donor's letter of intent; the aforesaid amount of Renminbi(RMB) must not be used for other purposes.

   Article 6. Anyone who participates in regulation of foreign exchange under the pretext of utilizing donations in foreign exchange, once the case is verified to be true, shall be dealt with in accordance with the provisions in Rules for the Implementation of the Imposition of Penalties on the Violations of Foreign Exchange Control.

Donations in foreign exchange made by Chinese who have acquired foreign citizenship to domestic units may be used in the regulation of foreign exchange with reference to these Provisions.

These Provisions shall go into effect as of July 1, 1989.

    




AsianLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.asianlii.org/cn/legis/cen/laws/ipctuodifembocacfhkmatitrofe1554