(For Trial Implementation)
Hu Jin Rong Fa [2021] No. 55
These Rules, formulated in accordance with the Civil Procedure Law of the People’s Republic of China, the Rules of the Shanghai High People’s Court on Process Management in Enforcement of Money Judgments (For Trial Implementation), and other relevant provisions and in regard to the experiences from enforcing financial cases at Shanghai Financial Court (the “Court”), are made to promote more effective and efficient enforcement in financial cases, reform the enforcement methods and promote the more rigorous management of the enforcement procedures, and effectively safeguard the legitimate rights and interests of the parties and interested parties.
Article 1 The Court, in view of the characteristics and common features in the enforcement of financial cases, is reforming the enforcement methods as follows: separating simple cases from complex cases such that the former can be enforced quickly and the latter can be enforced properly, designating the Enforcement Head Office to oversee all enforcement activities, making effective use of the Integrated Asset Execution Management System (the “System”), and setting up enforcement task groups with different responsibilities. The reform is designed to achieve the oversight of enforcement powers and the more granular management of processes, make more efficient use of the enforcement resources, improve the effectiveness and efficiency of enforcement actions, prevent enforcement-related corruptions, and steadily improve the people’s sense of achievement and satisfaction with enforcement actions.
Article 2 The reform of enforcement methods and management of enforcement processes for financial cases shall apply the following principles:
(1) Separation of powers. The current practice of assigning a single person to see an enforcement case to conclusion will be abolished due to the difficulty of keeping the discretionary power of the execution officers in check. Under the new model, different individuals will be responsible for the different processes of a case to achieve division of responsibilities and mutual support and oversight.
(2) Division of responsibilities by specialty. Execution officers are assigned into different groups based on their expertise and traits to undertake phase-specific tasks during the enforcement process. This creates a phase-based process flow for enforcement of financial cases.
(3) Physical operation of the Enforcement Head Office. The Enforcement Head Office organizes meetings of enforcement unit judges to decide on major matters in enforcement activities and to supervise enforcement milestones, to achieve physical operations and visual-based process supervision.
(4) Refined process management. The concept of friendly civilization in the enforcement as well as enforcement steps, process deadlines, and enforcement rules have been fully built into the System. This enables a fully online and fully traceable workflow and the end-to-end, dynamic, and fine-grained management of the enforcement process.
(5) Empowerment with information technologies (IT). Intelligent IT tools are deployed to facilitate online searches, scheduling of the meetings with parties, initial assessment of assets, creation of judicial documents, statistical analysis, and early warning and monitoring, in order to maximize the use of judicial resources and the efficiency of enforcement activities.
(6) Enhanced information transparency. Enforcement information is lawfully made accessible to the parties and the public through automated information sharing between the System, the website of the Court, and the People’s Court E-Enforcement Platform.
Article 3 Execution officers are assigned to the Preliminary Processes Group, Expedited Enforcement (General) Group, Asset Investigation and Oversight Group, and Asset Execution Group based on workload, enforcement steps, and their skills.
The Preliminary Processes Group mainly comprises court clerks, the Expedited Enforcement (General) Group enforcement judges and judge assistants, the Asset Investigation and Oversight Group judicial police officers, and the Asset Execution Group enforcement judges and judge assistants.
Members of the Expedited Enforcement (General) Group and the Asset Execution Group shall periodically rotate as necessary.
Article 4 The Enforcement Head Office discusses and decides on the following matters through meetings of enforcement unit judges:
(1) execution sale plan for the assets to be enforced;
(2) stay of the execution sale of assets to be enforced;
(3) withdrawal of the asset sale procedure;
(4) implementation of an asset distribution plan;
(5) imposition of fines and detention measures;
(6) conversion of enforcement proceedings into bankruptcy proceedings to be handled by a court outside Shanghai;
(7) proposed termination of the enforcement proceedings for a case valued at or above RMB 500,000,000 or involving a Party or government organ;
(8) eviction and other major enforcement actions; and
(9) other major enforcement matters.
The Enforcement Head Office, through the System, monitors and provides early alerts on enforcement cases at all times and throughout all stages of the proceedings, promptly identifies and oversees the resolution of issues, and reviews and analyzes the enforcement activities to inform and support enforcement decision making.
Article 5 The Preliminary Processes Group is responsible for:
(1) verifying the docket information on enforcement cases;
(2) serving the enforcement request acceptance notices on the parties applying for enforcement (“enforcing party”);
(3) serving enforcement notices and assets report orders on the parties subject to enforcement (“enforced party”);
(4) performing the initial network-based search on the assets of an enforced party;
(5) accepting documents and re-performing network-based asset searches for resumed enforcement cases; and
(6) performing other tasks assigned by the Enforcement Head Office.
Article 6 The Expedited Enforcement (General) Group is responsible for:
(1) summoning the enforced parties for the first time;
(2) holding meetings with the enforcing parties for the first time;
(3) carrying out online investigation and oversight, seizure, levy, etc.;
(4) carrying out offline assets oversight, seizure, levy, etc.;
(5) making the initial assessment of the assets of an enforced party;
(6) coordinating the legal right to sell the assets being enforced;
(7) initiating enforcement sales;
(8) imposing restrictive or disciplinary measures;
(9) performing procedures for closing enforcement cases; and
(10) performing other tasks assigned by the Enforcement Head Office.
Article 7 The Asset Investigation and Oversight Group is responsible for:
(1) investigating and exercising oversight over the assets being enforced through offline processes;
(2) remotely investigating and exercising oversight over the non-Shanghai-based assets being enforced or entrusting the local court to do so on the Court’s behalf;
(3) conducting in-person or on-site investigation on Shanghai-based enforced parties and assets being enforced;
(4) handling the offline processes to prevent enforced parties from leaving the Chinese Mainland;
(5) providing assistance in searches, summons, detentions, and evictions, etc.; and
(6) performing other tasks assigned by the Enforcement Head Office.
Article 8 The Asset Execution Group is in charge of:
(1) selling the assets being enforced;
(2) performing transfer and registration procedures for the sold assets;
(3) delivering the sold assets;
(4) making the distribution plan for enforcement proceeds;
(5) disbursing the enforcement proceeds; and
(6) performing other tasks assigned by the Enforcement Head Office.
Article 9 Enforcement information is in general automatically made available to all to be subject to oversight of the parties and the public, with withheld disclosure and disclosure upon request being reserved only for exceptional circumstances.
Disclosure to the parties relating to enforcement proceedings, especially the enforcing parties, shall be made automatically, in real time, and over all stages of the proceedings and in ways that make its access convenient to the parties.
Article 10 On the date of receiving the files for an enforcement case (“case files”), the Preliminary Processes Group shall verify the docket information and promptly correct any errors and omissions.
Article 11 For an enforcement case that meets the conditions for assignment to an inferior court or transfer to another court, the Preliminary Processes Group shall hand over the case files to the Expedited Enforcement (General) Group upon the receipt thereof without carrying out the enforcement actions under Articles 12 to 15 of these Rules.
Article 12 The Preliminary Processes Group shall, within three days of receiving case files, send an enforcement request acceptance notice to the enforcing party.
Article 13 The Preliminary Processes Group shall, within three days of receiving case files, send an enforcement notice and an assets report order to the enforced party and enter relevant enforcement milestone information into the System.
Article 14 The Preliminary Processes Group shall, within five days of receiving case files, submit a search request on the assets of the enforced party through the online investigation and oversight platforms for nationwide people’s courts or Shanghai-based courts.
Article 15 The Preliminary Processes Group shall hand over the case files to the Expedited Enforcement (General) Group on the date of submitting the initial online search request.
Article 16 The Preliminary Processes Group shall, within two days of receiving the relevant case files, convert them into a format suitable for electronic archiving and upload them to the System.
Article 17 If an enforcement case is ruled pursuant to law or judicial interpretations to be assigned to a designated inferior court or transferred to another court, the Expedited Enforcement (General) Group shall, within seven days of docketing the case, complete the relevant procedures for the assignment or transfer, prepare the relevant legal documents, and hand over the case files to the inferior court or another court.
Article 18 The Expedited Enforcement (General) Group shall check the search results from the national or Shanghai-based online investigation and oversight platforms within three days of receiving the case files. For assets that need to be and can be placed under oversight online, it shall take oversight measures on the day of this check. For assets that need to be placed under oversight but cannot be through online means, it shall enter the task into the System within three days for the Asset Investigation and Oversight Group to implement the oversight measures.
The Expedited Enforcement (General) Group shall regularly check for latest updates from the online investigation and oversight platforms and take prompt actions as required by the preceding paragraph.
Article 19 The Expedited Enforcement (General) Group shall, within ten days of receiving case files, summon the enforced party or such persons as its guardian ad litem, legal representative, principal person-in-charge, directly responsible person, or de facto controller to a designated location for questioning, in order to ascertain the assets of the enforced party and its capacity and willingness to perform obligations. Transcripts from this summon shall be taken and entered into the System on the same day.
Article 20 After checking the case materials on asset preservation and the results from online searches and offline investigations, the Expedited Enforcement (General) Group shall, within ten days of receiving case files, ascertain whether the identified assets are sufficient to repay the debts and, within three days of verifying the search results, hold a meeting with the enforcing party to inform it of the results. Where the identified assets are insufficient to repay the debts, the Expedited Enforcement (General) Group shall request the enforcing party to provide tips on the other enforceable assets or the whereabouts of the enforced party. Transcripts of this meeting shall be taken and entered into the System on the same day.
Article 21 Where no result is received within 15 days after the submission of the initial online search request, the Expedited Enforcement (General) Group shall immediately submit another request and, based on the search results, take prompt actions in accordance with Article 16 of these Rules.
Article 22 The Expedited Enforcement (General) Group shall, within two days of ascertaining or receiving any specific asset information or tips reported by the enforced party, provided by the enforcing party, or otherwise verified, enter the task into the System for investigation and asset oversight by the Asset Investigation and Oversight Group.
Article 23 With respect to the bank deposits, securities, or the assets held through third-party payment platforms of the enforced party that are already placed under oversight and for which direct online seizure or levy is possible, the Expedited Enforcement (General) Group shall do so within two days of receiving the confirmation of existing oversight measures. If online seizure and levy is not possible, the Expedited Enforcement (General) Group shall enter task into the System within two days for the Asset Investigation and Oversight Group to complete it through offline processes.
Article 24 With respect to the assets to which the enforcing party has a priority claim by law but are not immediately enforceable due to the initial sealing of another court, the Expedited Enforcement (General) Group shall, within two days of ascertaining the seal up, submit the matter to the Enforcement Head Office for discussion within five days. If upon discussion the Enforcement Head Office decides that a request for taking over the right to execution sale is warranted, the Expedited Enforcement (General) Group shall prepare the request letter and other materials and submit them to the Asset Investigation and Oversight Group within three days.
Article 25 The Expedited Enforcement (General) Group shall, within 30 days of receiving case files, make an initial assessment of the assets to be enforced based on the results from asset investigation and oversight, asset information from related preservation cases, the state of debt repayment in the current case, and conversations with the parties.
With respect to any case that has enforceable assets and requires the sale thereof, the Expedited Enforcement (General) Group shall submit the initial assessment of assets to the Enforcement Head Office for discussion by the latter within five days. If upon discussion the Enforcement Head Office decides that the sale is necessary, the Expedited Enforcement (General) Group shall enter the task into the System for the Asset Execution Group to conduct the sale on the day of the decision.
With respect to any case that has no enforceable assets, the Expedited Enforcement (General) Group shall enter the task into the System for the Asset Investigation and Oversight Group to conduct on-site investigation on the date of initial asset assessment.
Article 26 The Asset Investigation and Oversight Group shall complete the offline investigation of Shanghai-based assets within five days of receiving the task. For the offline investigation of non-Shanghai-based assets, the Asset Investigation and Oversight Group shall complete the investigation within 15 days of receiving the task, or, within 2 days of its receipt, request the court of where the assets are located to do so, and keep track of the progress until the investigation is completed.
Article 27 The Asset investigation and Oversight Group shall establish oversight over Shanghai-based assets through offline processes within five days of receiving the task. For the oversight of non-Shanghai-based assets through offline processes, the Asset Investigation and Oversight Group shall establish it within 15 days of receiving the task, or, within 2 days of its receipt, request the court of where the assets are located to do so, and keep track of the progress until the oversight is established. In urgent situations, oversight measures shall be taken immediately.
Article 28 The Asset Investigation and Oversight Group shall, within two days of receiving the request letter for taking over the right to execution sale and other relevant materials, send the same to the court that initially sealed up the assets concerned and keep track of the progress until the right is obtained.
Article 29 The Asset investigation and Oversight Group shall complete the on-site investigation of Shanghai-based enforced parties or the assets to be enforced within five days of receiving the task or, on the day of its receipt, engage a notary public office to do so within five days. For the on-site investigation of non-Shanghai-based enforced parties or assets to be enforced, the Asset Investigation and Oversight Group shall complete it within 15 days of receiving the task, or, within 2 days of its receipt, request the court of where the parties or assets are located to do so, and keep track of the progress until the investigation is completed.
Article 30 If offline processes are needed to prevent exit from the Chinese Mainland, the Asset Investigation and Oversight Group shall complete them within five days of receiving the task.
Article 31 In the case of an execution sale of real properties, unlisted equities, listed stocks, personal property, or other assets, the Asset Execution Group shall, within five days of receiving the task, make a ruling for execution sale and serve it on the parties.
Article 32 For the Shanghai-based assets to be enforced, the Asset Execution Group shall, within 15 days of making the ruling for execution sale, ascertain the current status of the assets, including but not limited to their titles, encumbrance, possession and use, taxes and fees in arrears, and quality defects. For the non-Shanghai-based assets to be enforced that require this status check, the Asset Execution Group shall complete the check within 15 days of making the ruling for execution sale.
Article 33 For assets that meet the conditions for execution sale, the Asset Execution Group shall, within two days of completing the status check of these assets to be enforced, start the procedures for determining the reference price for the execution sale in accordance with Provisions of the Supreme People’s Court on Issues Concerning the People’s Courts’ Determination of the Reference Price in Execution Sales.
Article 34 The Asset Execution Group shall, within 30 days of starting the procedures for determining the reference price for execution sale, obtain the reference prices from the parties’ negotiations, directed requests for quote (“DRFQ”), online requests for quote (“ORFQ”), and valuation report.
If the valuation agency fails to issue a qualified valuation report within 30 days of accepting the engagement, the Asset Execution Group shall identify the reason and report the situation to the Enforcement Head Office for discussion by the latter within 5 days. If upon discussion the Enforcement Head Office determines that the delay was unjustified, the Asset Execution Group shall order the agency to submit a qualified valuation report within 15 days; if upon discussion the Head Enforcement Office determines that a replacement is necessary, the Asset Execution Group shall start the procedures for selecting a new valuation agency within 2 days.
Article 35 The Asset Execution Group shall, within three days of receiving the DRFQ, ORFQ, and valuation reports as well as relevant explanations, supplemental information, and corrections, send the same to the parties and interested parties, and inform them that they may challenge the ORFQ and valuation reports in writing within five days of receiving them if they believe that the reports fall under a statutory circumstance that permits such a challenge.
Article 36 Where any of the parties or interested parties submits a written challenge, the Asset Execution Group shall handle it as follows:
(1) If the challenge is directed at the negotiated price or the DRFQ price, the Asset Execution Group shall inform them that such challenge is not accepted within three days of receipt;
(2) If the challenge was not submitted within the prescribed period or is directed at the explanations, supplemental information, or corrections of the ORFQ platforms, valuation agencies, or trade associations or their conclusions after professional and technical reviews, the Asset Execution Group shall inform them that such challenge is not accepted within three days of receipt;
(3) If the challenge was submitted within the prescribed period and is directed at the valuation report’s reference standards, calculation method, or valuation results, the Asset Execution Group shall forward it to the valuation agency within three days of receipt and request from it a written explanation. Where the agency fails to do so within 5 days or the party or interested party objects to the explanation it has given, the Asset Execution Group shall, within 15 days, forward the materials to the relevant trade association and request it to organize a professional and technical review within the prescribed period, and, based on the conclusions from this review, determine the valuation results or request the original valuation agency to supplement or correct its results;
(4) If the challenge was submitted within the prescribed period and on the ground that the valuation agency or valuation personnel did not possess the relevant qualifications or that the valuation procedure was blatantly unlawful, the Asset Execution Group shall, within two days of receipt thereof, forward it to the case-filing department for review as an enforcement objection case.
Article 37 If a review in accordance with Article 36(4) of these Rules finds the challenge to have merit, the Asset Execution Group shall, within three days of receiving a ruling to that effect, start the procedures for selecting a new valuation agency.
Article 38 The Asset Execution Group shall, within five days after the reference price for execution sale is determined, start the procedures for selecting the assisting auction companies or initiate the execution sale through the judicial enforcement assistance platform of Shanghai Stock Exchange for block stock trading.
Article 39 The Asset Execution Group shall, within ten days of determining the assisting auction company, draft the auction announcement and submit it to the Enforcement Head Office for decision making within five days.
Article 40 The Asset Execution Group shall issue the auction announcement 15 days before the first auction sale of personal properties, and 30 days before the first auction sale of real properties or other proprietary rights.
Article 41 If the first auction sale fails, the Asset Execution Group shall within three days thereof consult with the enforcing party or other judgment creditors on whether they would agree to repayment-in-kind with the enforceable assets. Where the enforcing party or other judgment creditors object to such an arrangement, the Asset Execution Group shall, within three days of confirming that repayment-in-kind is infeasible, draft the announcement for the second auction sale and submit it to the Enforcement Head Office for decision making within five days.
Article 42 The Asset Execution Group shall issue the auction announcement 7 days before the second auction sale of personal properties, and 15 days before the second auction sale of real properties or other proprietary rights.
Article 43 If the second auction sale fails, the Asset Execution Group shall within three days thereof consult with the enforcing party or other judgment creditors on whether they would agree to repayment-in-kind with the enforceable assets. Where the enforcing party or other judgment creditors object to such an arrangement, the Asset Execution Group shall, within three days of confirming that repayment-in-kind is infeasible, draft the announcement for the sell-off and submit it to the Enforcement Head Office for decision making within five days.
Article 44 In the case of an auction, sell-off, or repayment-in-kind, the Asset Execution Group shall, within ten days after the buyer or the acceptor of repayment-in-kind pays the purchase price in full, make a ruling confirming the transaction and serve it on the parties.
Article 45 After the ruling confirming the completion of asset sale is made, if the assets concerned needs to be delivered, the Asset Execution Group shall transfer the possession of the assets to the transferee within 15 days of the service of the ruling and, if the said assets are real properties or other assets requiring registration of the transfer, additionally and contemporaneously deliver the corresponding legal documents to the agencies assisting in the enforcement.
If the assets are not readily deliverable, the Asset Execution Group shall, within ten days of the service of the ruling, propose a resolution plan and submit it to the Enforcement Head Office for decision making by the latter within five days.
Article 46 If enforceable assets need to be returned to the enforced party for failed closing of the sale, the Asset Execution Group shall do so within 15 days of the failure.
Article 47 The Asset Execution Group shall, within 30 days of being notified by the finance department of the receipt of enforcement proceeds, complete the calculation of the proceeds, the settlement of enforcement expenses, the notification of the enforcing parties to collect, and the disbursement of the proceeds.
The Asset Execution Group may postpone the disbursement, subject to the approval of its supervising Court executive within 20 days of its receiving the finance department’s notice on the receipt of the enforcement proceeds, if:
(1) it needs to distribute the proceeds to multiple parties;
(2) the proceeds are subject to a preservation or freezing order because the enforcing party is involved in such situations as another litigation, other enforcement proceedings, or a suspected crime;
(3) the enforcing party fails to collect the proceeds despite being notified;
(4) the enforcement case is legally suspended or stayed; or
(5) the postponement is otherwise justified.
The Asset Execution Group shall complete the disbursement within ten days of knowing the cessation of the above circumstances.
Article 48 If the Asset Execution Group needs to distribute the enforcement proceeds, it shall, within five days of being notified by the finance department of the receipt of enforcement proceeds, consult with the enforcing party, the other creditors, and the enforced party regarding the arrangements for the asset distribution plan.
Article 49 The Asset Execution Group shall, within ten days of completing the consultation, complete the asset distribution plan and submit it to the Enforcement Head Office for decision making within five days.
Article 50 The Asset Execution Group shall finalize the asset distribution plan within five days of the decision making of the Enforcement Head Office, and, within five days of finalizing it, serve the same on the parties and other creditors and inform them that any objections to the plan shall be submitted in writing within 15 days of its receipt and of the legal consequences of non-submission.
Article 51 Where the parties or other judgment creditors object to the asset distribution plan, the Asset Execution Group shall, within five days of receiving the objections, send a notice to the non-objecting parties and judgment creditors and inform them that any counter-objection shall be submitted in writing within 15 days of the notice and of the legal consequences of non-submission.
Article 52 Where the non-objecting parties and other creditors do not submit a written counter-objection within the prescribed period, the Asset Execution Group shall revise the asset distribution plan based on the objections within five days of the expiration of that period and disburse the enforcement proceeds within ten days.
Where the non-objecting parties and other creditors submit a written counter-objection within the prescribed period, the Asset Execution Group shall, within five days of its receipt, send a notice to the objecting parties and other creditors and inform them that any lawsuit over the objections to the asset distribution plan shall be filed within 15 days of the notice and of the legal consequences of non-filing. If the objecting parties do not file a lawsuit within the said period, the enforcement proceeds shall be distributed in accordance with the original asset distribution plan.
Article 53 The Expedited Enforcement (General) Group shall perform the statutory procedures and close the case within seven days after an enforcement case meets any of the following conditions for closure: completion of the enforcement actions; completion of performance of the settlement agreement between the parties; performance of long-term settlement agreement between the parties; termination of the enforcement case; and termination of the present enforcement proceedings.
Article 54 If the Expedited Enforcement (General) Group expects that a case cannot be closed within prescribed enforcement period, it shall submit a proposed resolution plan 20 days before the expiration of the said period to the Enforcement Head Office for decision making within five days, and shall, based on the latter’s decision, complete the approval procedures and enter the relevant information into the System.
Article 55 For any case closed by completion of the enforcement actions or of the performance of the settlement agreement, the Expedited Enforcement (General) Group shall terminate the corresponding enforcement measures according to law before closing the case.
Article 56 For any case closed by termination of the present enforcement proceedings, the Preliminary Processes Group shall re-check the assets of the enforced party with IT tools every three months from the date of case closure.
Where the enforcing party provides tips on assets and requests for resuming the enforcement proceedings, the Preliminary Processes Group shall, within two days of receiving the request, enter the task into the System for asset investigation by the Asset Investigation and Oversight Group.
Article 57 If it is found through asset re-check or the tip of the enforcing party that the enforced party has enforceable assets, the Expedited Enforcement (General) Group shall within three days of such discovery undertake the procedures for resuming enforcement.
Article 58 Where an enforcing party requests the use of alternative asset investigation methods such as external auditing or public reward on tips, the Expedited Enforcement (General) Group shall review and make a decision on the request within five days of its receipt. If it believes such methods to be necessary, it shall, within three days from the date of decision, adopt or enter the task into the System for the Asset Investigation and Oversight Group to adopt such methods.
Article 59 Where an enforcing party requests for a search order, the Expedited Enforcement (General) Group or the Asset Execution Group shall review the request within five days of its receipt. If the request meets the prescribed conditions, a search order will be issued according to rules, with which the enforcing party’s attorney may investigate the enforced party and the tips on its enforceable assets.
Article 60 The Expedited Enforcement (General) Group shall issue a spending restriction order or a decision on prohibition of leaving the Chinese Mainland or inclusion in the list of dishonest judgment debtors within three days after it ascertains that the enforced party or relevant individuals meet the conditions for such an order or decision. Where an enforcing party requests in writing for such actions as restriction of excessive spending, prohibition of leaving the Chinese Mainland, or inclusion on the list of dishonest judgment debtors, the Expedited Enforcement (General) Group shall, within ten days of receiving the request, issue the spending restriction order or the decision on prohibition of leaving the Chinese Mainland or inclusion in the list of dishonest judgment debtors, or inform the enforcing party that its request does not meet the legal requirements.
Article 61 If a person believes that the spending restriction order or the decision for inclusion on the list of dishonest judgment debtors made against it is wrong and requests in writing for correction, the Expedited Enforcement (General) Group shall review the request within 15 days of its receipt. If correction is justified, the Expedited Enforcement (General) Group shall make corrections within three days; if not, it may dismiss the request and inform the person that it may petition the next-higher people’s court for reconsideration within ten days of service of the decision.
Article 62 In addition to these Rules, the rules governing the Enforcement Head Office will be separately prescribed.
Article 63 In these Rules, “days” refer to working days, except where calendar days apply as provided by relevant laws or judicial interpretations.
Article 64 In case of any conflict between these Rules and the Provisions of the Shanghai Financial Court on the Disposal of Shares of Listed Companies in Enforcement Proceedings (For Trial Implementation), the latter shall prevail.
Article 65 Except for information on such procedural milestones as online search, placement of assets under oversight, seizure and levy, and asset transfer, which is automatically entered into the System, information on other procedural milestones should be immediately entered into the System upon the reaching of the milestone.
Article 66 The enforcement personnel shall strictly comply with these Rules in enforcement proceedings; any violation of these Rules will be punishable in accordance with laws and disciplinary rules.
Article 67 These Rules are subject to the interpretation of the Adjudication Committee of the Court.
Article 68 These Rules take effect on a trial basis for a period of two years as of the date of release.
In case of any conflict between these Rules and any laws or judicial interpretations issued after the release of these Rules, the latter shall prevail unless the relevant provisions of these Rules are more stringent.
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