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          1. The New Edition of the Instructions on Registration by PE Fund Managers Released on Weekend

            By Pedaily.cn

            ?Unexpectedly,the new edition of the Instructions on Regulation by PE Fund managers?was quietly released.

            The Asset ManagementAssociation of China promulgated the?Instructionson Registration by PE Fund Managers, according to the news of PEdaily.cn(ID: pedaily2012) dated December 23. The document specifies the regulatorystandards for key items, including the paid-in capital, senior management,sites for business operation, names, scopes of business and legal opinions ofPE fund applicants, and becomes a new beginner’s guide for the RMB11.00trillion PE funds at home.

            But the new policy fails to causea sensation but is spread on a small scale so far, as it was released onweekend when the Winter Solstice Festival was celebrated. Some domestic PEinvestors said, the policy is important to VC/PE, as it is not only rich incontents and highly instructive, but also includes six new situations in whichregistration by PE fund managers is not allowed; “2017 is coming to an end, andthis may be the final new policy of great importance.”

            PEdaily.cn (ID: pedaily2012)compared the new edition and old edition of the?Instructions on Registration by PE Fund Managers?in a detailedmanner at the earliest time possible, and found two major revisions:

            1. Two parts were added,including the “situations in which registration by PE fund managers is notallowed” and the “working mechanism for the publicity of the law firms andlawyers related to the institutions not allowed for registration”;

            2. Thefinal part, i.e. the “Items that PE Fund Managers Shall be Familiar with toComplete Registration”, was revised.


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