what is PRC law?
Post 1 of 5
can anyone tell me what PRC law means? What is the full name of PRC?
16 Sep 2006 16:08
Post 2 of 5
Replying to [mama bebe]:1)Positive Return on Customer
http://www.prcnet.com/Home.14.lasso
2)Professional Regulation Commission
http://www.prc.gov.ph/
3)Prentke Romich Company
4) Pennsylvania Resources Council
5)People's Republic of China (PRC)
6) The PRC Company Law (Company Law) sets out the basic statutory requirements regarding the structure of a PRC company's board of directors. Articles 46 and 109 of Company Law provide that a director may serve for a term of up to three years. However, the Company Law is silent as to whether a directors' term may be staggered. The Guidelines for the Articles of Association of Listed Companies (Guidelines), as amended by the China Securities Regulatory Commission (CSRC) on March 16 2006, may provide some guidance on this point. Except as indicated otherwise, a PRC listed company is required by the CSRC to adopt in its articles of association all the provisions of the Guidelines. Under Article 96 of the Guidelines, a director's term commences from the date on which he or she takes office and ends on the date on which the term of the current board of directors expires. This provision suggests that all directors' terms will end upon the expiration of the term of the current board of directors and the entire board of directors will be subjected to re-election at the same shareholders' meeting, which may be construed as precluding a PRC listed company from staggering its directors' term.
Even without a staggered board of directors, the long term of office for directors under the Company Law may have a substantial anti-takeover effect. A PRC company usually has a board with a term of three years and elects its directors triennially, unless there are vacancies resulting from situations such as resignation or death of directors. Depending on when an unsolicited acquirer launches its takeover bid, it may have to wait up to three years to replace the target company's incumbent board of directors. For instance, if the acquirer launches its bid just before the annual shareholders' meeting of a target company for election of directors, there will be no substantial delay in gaining control of the target company's board. However, if the acquirer launches a bid immediately after such a meeting, it will have to wait almost three years for the opportunity to ..............................
http://www.chinalawandpractice.com/default.asp?Page=5&F=F&SID=5125&M=7&Y=2006
http://www.prcnet.com/Home.14.lasso
2)Professional Regulation Commission
http://www.prc.gov.ph/
3)Prentke Romich Company
4) Pennsylvania Resources Council
5)People's Republic of China (PRC)
6) The PRC Company Law (Company Law) sets out the basic statutory requirements regarding the structure of a PRC company's board of directors. Articles 46 and 109 of Company Law provide that a director may serve for a term of up to three years. However, the Company Law is silent as to whether a directors' term may be staggered. The Guidelines for the Articles of Association of Listed Companies (Guidelines), as amended by the China Securities Regulatory Commission (CSRC) on March 16 2006, may provide some guidance on this point. Except as indicated otherwise, a PRC listed company is required by the CSRC to adopt in its articles of association all the provisions of the Guidelines. Under Article 96 of the Guidelines, a director's term commences from the date on which he or she takes office and ends on the date on which the term of the current board of directors expires. This provision suggests that all directors' terms will end upon the expiration of the term of the current board of directors and the entire board of directors will be subjected to re-election at the same shareholders' meeting, which may be construed as precluding a PRC listed company from staggering its directors' term.
Even without a staggered board of directors, the long term of office for directors under the Company Law may have a substantial anti-takeover effect. A PRC company usually has a board with a term of three years and elects its directors triennially, unless there are vacancies resulting from situations such as resignation or death of directors. Depending on when an unsolicited acquirer launches its takeover bid, it may have to wait up to three years to replace the target company's incumbent board of directors. For instance, if the acquirer launches its bid just before the annual shareholders' meeting of a target company for election of directors, there will be no substantial delay in gaining control of the target company's board. However, if the acquirer launches a bid immediately after such a meeting, it will have to wait almost three years for the opportunity to ..............................
http://www.chinalawandpractice.com/default.asp?Page=5&F=F&SID=5125&M=7&Y=2006
21 Sep 2006 09:47
Post 3 of 5
Replying to [mama bebe]:
When you are asking something, if you quote where the term comes and what is its use? It will helpful to read and understand the terms and questions by our memebers.
When you are asking something, if you quote where the term comes and what is its use? It will helpful to read and understand the terms and questions by our memebers.
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About Our Company
23 Sep 2006 18:07
Post 4 of 5
Quoting from [mama bebe]:
can anyone tell me what PRC law means? What is the full name of PRC?
PRC law, as generally used, refers to the law of the People's Republic of China, excluding that of Hong Kong and Taiwan.
27 Sep 2006 01:50
Post 5 of 5
Replying to [lawyer_He]:So if I buy products from a taiwan registred company but products are origin China PRC law would this apply.
07 Oct 2006 00:27
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