Examples of SAFE Circular 75 in a sentence
SAFE promulgated the Circular on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents’ Offshore Investment and Financing and Roundtrip Investment through Special Purpose Vehicles, or SAFE Circular 37, in July 2014, which replaced SAFE Circular 75.
In addition, since none of Ms. Xiao, Ms. Xu or Mr. Du held any interest or shares in the PRC subsidiaries of the Company when each of them established his/her respective offshore companies, the relevant foreign exchange administration authority confirmed to us the offshore companies held by Ms. Xiao, Ms. Xu or Mr. Du do not fall into the scope of the overseas special purpose vehicles stipulated in the SAFE Circular 75.
The Company has complied in all material respects with the reporting and/or registration requirements of SAFE Circular 37, SAFE Circular 75, SAFE Circular 78 or any other applicable SAFE rules and regulations (collectively, the “ SAFE Rules and Regulations”).
We believe that all of our beneficial owners who are PRC citizens or residents have completed their registrations with the competent local SAFE branch in accordance with the SAFE Circular 75 before the promulgation of SAFE Circular37.
Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, the Company has complied with the registration or reporting requirements of SAFE Circular 7, SAFE Circular 37, SAFE Circular 75, SAFE Circular 78 or any other applicable SAFE rules and regulations including without limitation the registration of its Share Incentive Plans with the Governmental Authorities in the PRC.