321 Decision of the Standing Committee of the Shenzhen Municipal People’s Congress ......[深圳市人民代表大会常务委员会关于延长规范原有股份有限公司和有限责任公司期限的决定(1995)]

(Adopted at the Fourth Meeting of the Standing Committee of the Second Shenzhen Municipal People’s Congress on November 3, 1995, and promulgated by Public Notice No. 15 of the Standing Committee of the Shenzhen Municipal People’s Congress of November 3, 1995) 

       According to Article 155 of Regulations of the Shenzhen Special Economic Zone on Companies Limited by Shares and Article 101 of Regulations of the Shenzhen Special Economic Zone on Companies of Limited Liability, the companies limited by shares and companies of limited liability which were established before the above-mentioned two regulations take effect shall improve the conditions and bylaws of these companies according to the above-mentioned two regulations and go through the formalities of annual inspection according to the above-mentioned two regulations in the annual inspection period of 1994. Since the workload of the city-wide standardization is too heavy and the matters to be involved are too many, it is decided that the time limit for the improvement and standardization of the original companies limited by shares and companies of limited liability shall be extended to December 31, 1996. The companies limited by shares and companies of limited liability which have not completed the standardization shall complete this task by the newly-stipulated time limit according to the above-mentioned two regulations and Law of the People’s Republic of China on Companies. Otherwise, starting from January 1, 1997, the original companies limited by shares and companies of limited liability may not continue to use “company limited by shares” and “company of limited liability” in their names, the registration office for companies may not continue to register them as companies limited by shares or companies of limited liability, either, and shall make changes to register them as other types of enterprises.