Circular 75 definition

Circular 75 means the Circular 75, issued by the State Administration of Foreign Exchange of the PRC on October 21, 2005, titled “Notice Regarding Certain Administrative Measures on Financing and Inbound Investments by PRC Residents Through Offshore Special Purpose Vehicles”, effective as of November 1, 2005, or any successor rules or regulations under PRC Laws, including without limitation, the Operating Instructions on Foreign Exchange Administration for Domestic Residents Engaging in Financing and Round-tripping Investment via Overseas Special Purpose Vehicles promulgated by SAFE and effective on July 11, 2011.

Circular 75 means the Notice on Relevant Issues Concerning Foreign Exchange Administration for Domestic Residents to Engage in Overseas Financing and Round Trip Investment via Overseas Special Purpose Companies issued by SAFE on October 21, 2005.

Circular 75 has the meaning set forth in Section 16(d) of Schedule D.

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.

• Compared with Circular 75, Circular 37 further simplified and facilitated the cross-border capital transactions of domestic residents involved in investment and financing activities through special purpose companies.

• To avoid confusion between calendar and fiscal years, all yearly references are for the calendar year unless it is indicated that they are for the fiscal year.

• 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”).

• Due to the vagueness and uncertainty as to how the Circular 75 is interpreted and implemented by the SAFE and the possible amendments or changes of the PRC laws and regulations, we cannot exclude the possibility that the shareholders who may spend certain amount of their time in the PRC each year will be required by the SAFE to make or obtain any applicable registrations.

More Definitions of Circular 75

Circular 75 means Notice on Relevant Issues of PRC State Administration of Foreign Exchange (“SAFE”) concerning Foreign Exchange Administration for Domestic Residents to Engage in Financing and Round-trip Investment via Overseas Special Purpose Companies promulgated by SAFE on October 21, 2005 and effective from November 1, 2005.

Circular 75 means the Circular 75 issued by the SAFE on October 21, 2005, titled “Notice Regarding Certain Administrative Measures on Financing and Round-trip Investments by PRC Residents Through Offshore Special Purpose Vehicles,” as amended, and any implementing SAFE rules and regulations thereof.

Circular 75 means Circular 75 issued by the SAFE on October 21, 2005 (as supplemented by implementing rules and regulations, including without limitation the implementing rule issued by SAFE on May 31, 2007 and known as Notice 106, and by any successor rule or regulation under PRC Law, including but not limited to any rule or regulation interpreting or setting forth provisions for implementation of any of the foregoing.

Circular 75 means the circular entitled “Relevant Issues Concerning Foreign Exchange Control on Domestic Residents’ Corporate Financing and Roundtrip Investment Through Offshore Special Purpose Vehicles” issued by SAFE on October 21, 2005, and effective as of November 1, 2005.

Circular 75 has the meaning set forth in Clause 3 of this Schedule 2.

Circular 75 has the meaning set forth in Section 16(iv) of Schedule D.

Circular 75 has the meaning set forth in Section 2A.2(e).