Examples of Circular 75 in a sentence
The Company shall use its best efforts to cause each holder of beneficial ownership in the Company who is a “Domestic Resident” as defined in Circular 75 and is subject to the registration and other requirements under Circular 75 to submit its updated Circular 75 Registration with SAFE or a competent branch of SAFE as soon as practicable and in any event within thirty (30) Business Days after the Closing.
No substantial owner or controller, and to the best knowledge of the Company, no beneficial owner of the Company, is a “Domestic Resident” as defined in Circular 75 (together with its implementing regulations, “Circular 75”) issued by the State Administration of Foreign Exchange (“SAFE”).
Except as set forth in Section 3.18(c) of the Disclosure Schedule, none of the Group Companies has received any written inquiry, notification, order or any other form of official correspondence from any Government Entity with respect to any actual or alleged non-compliance with Order No. 10, Circular 75 and any other applicable PRC rules and regulations.
Except as described in the Registration Statement and the Prospectus, the Company has taken all necessary steps to ensure compliance by each of its shareholders, option holders, directors, officers and employees that is, or is directly or indirectly owned or controlled by, a PRC or Hong Kong resident or citizen, with any applicable rules and regulations of the relevant the PRC or Kong government agencies, including, without limitation, Circular 75.
Without limitation of the foregoing, such registration under Circular 75 shall include details of the Purchaser’s nominees’ ownership of the Domestic Entities pursuant to the consummation of the Restructuring and the shares reserved for issuance under the Amended Share Plan.