Page 131 - 朵云轩2024春季艺术品拍卖会云志——历代名人法书墨迹

Auction Law of the People’s Republic of China

business license.
Chapter I General Provisions
Article 12 Whoever establishes an auction enterprise shall meet the following
Article 1 This Law has been formulated with a view to standardizing the auction requirements:
behavior, safeguarding the auction order, and protecting the legitimate rights and (1) Having a registered capital of at least one million yuan;
interests of various parties involved in auction activity. (2) Having his own name, organizational setup, residence and articles of associa-
Article 2 This Law shall apply to the auction activity carried out by auction enter- tion;
prises within the territory of the People’s Republic of China. (3) Having auctioneers and other staff qualified for the auctioning business;
Article 3 Auction means the buying and selling form through which designated (4) Having formulated rules on the auction business that comply with this Law and
articles or property rights are transferred, in the form of public bidding, to those the stipulations of other relevant laws;
providing the highest bidding price. (5) Having the permit on a special industry issued by the public security depart-
Article 4 Auction activity shall abide by relevant laws and administrative decrees, ment;
and follow the principle of openness, fairness, impartiality, honesty and credibility. (6) Complying with the State Council provisions regarding the development of the
Article 5 The State Council is responsible for managing the department in charge auctioning industry;
of the auctioning industry, which will exercise supervision over and management of (7) Meeting other requirements as prescribed by laws and administrative decrees.
the national auctioning industry. Article 13 Should an auction enterprise handle the auction of cultural relics, it
People’s governments of various provinces, autonomous regions and municipali- shall have a registered capital of at least 10 million yuan and have personnel with
ties directly under the central government and people’s governments of cities with the professional expertise of relics auction.
districts are responsible for managing the departments in charge of the auctioning Article 14 Auction activity shall be presided over by an auctioneer.
industry, which will exercise supervision over and management of the auctioning Article 15 An auctioneer shall meet the following requirements:
industry within their respective administrative regions. (1) Having a university or college education and professional expertise of auction;
Public security departments shall exercise security control over the auctioning in- (2) Having worked in an auctioning enterprise for more than two years; and articles
dustry as special industry. of association;
(3) Having a moral integrity.
Chapter II Auction Targets Those who have been dismissed from their posts and those for whom five years
Article 6 Auction target shall be articles or the property rights owned by trustees have not passed since their auctioneer certificates were revoked, or those who
or disposable according to law. have been meted out criminal punishment for deliberately committing a crime may
Article 7 Articles or property rights whose purchase and sale are prohibited by not serve as auctioneers.
laws and administrative decrees shall not be taken as auction targets. Article 16 The examinations for the qualification of auctioneers shall be organized
Article 8 Articles or property rights whose transfer is subject to the examination exclusively by the auction Industry Association.
and approval according to law or in accordance with State Council provisions shall, Those passing the examinations shall be issued auctioneer qualification certifi-
before being auctioned, go through examination and approval procedures accord- cates by the Auctioning Industry Association.
ing to law. Article 17 The Auctioning Industry Association is a mass organization legal per-
Cultural relics consigned for sale shall, before being auctioned, be assessed and son established according to law and a self-disciplining organization in the auction-
permitted according to law by the cultural administrative department where the ing industry.
auctioneer resides. The Auctioning Industry Association shall exercise supervision over auction enter-
Article 9 Should articles confiscated by the state administrative department ac- prises and auctioneers in accordance with this Law and its articles of Association.
cording to law, articles used to pay taxes or fines and other kinds of articles be Article 18 An auctioneer has the right to ask the trustee to state the source and
auctioned on consignment in accordance with State Council provisions, they shall drawbacks of auction targets.
be auctioned by the auctioneers designated by the people’s governments with dis- The auctioneer shall state the drawbacks of auction targets to the bidders.
tricts where such property lies. Article 19 An auctioneer has the obligation of taking care of articles submitted by
The auction of articles confiscated by a people’s court according to law, articles the trustee for auction.
used to pay fines and found articles that cannot be returned are subject to the Article 20 Upon accepting trust, an auctioneer shall not trust other auctioneers for
stipulation of the above paragraph. auction unless approved by the trustee.
Article 21 Should a trustee or a buyer ask to keep secret of his or her identity, the
Chapter III Parties Involved in Auction auctioneer shall keep secret for him or her.
Section One Auctioneers Article 22 An auctioneer and other personnel shall not, in the capacity of bidders,
Article 10 An auctioneer is an enterprise legal person that has been established participate in the auction activity organized by them, and shall not trust others to
to engage in auction activity in accordance with this Law and the Corporate Law of bid for them.
the People’s Republic of China. Article 23 An auctioneer shall not auction his or her own articles or property rights
Article 11 An auction enterprise may be set up in a city with districts. in the auction activity organized by him or her.
The establishment of an auction enterprise is subject to the examination and ap- Article 24 After an auction is completed, the auctioneer shall, as agreed upon,
proval by the department in charge of managing the auctioning industry as author- pay the sum of money of the auction targets to the trustee, and shall, as agreed
ized by the people government of a province, an autonomous region and a munici- upon, transfer the auction targets to the buyer.
pality directly under the central government where it is located, and shall apply and Section Two Trustees
register with the administrative department for industry and commerce receive a Article 25 An trustee means a citizen, a legal person or an organization trusting