國開行關于村鎮銀行的出資人協議的意見
Opinions of CDB on the Contributor Agreement of the Village and Town Bank

一
定義——關聯公司
I
Definition—Affiliated Company
《公司法》第217條第4款規定，“關聯關系，是指公司控股股東、實際控制人、董事、監事、高級管理人員與其直接或者間接控制的企業之間的關系，以及可能導致公司利益轉移的其他關系。但是，國家控股的企業之間不僅僅因為同受國家控股而具有關聯關系。”
建議：直接引用中國《公司法》的定義。
Paragraph 4 of Article 217 of Company Law provides that “affiliation” refers to the connection between the controlling shareholder, de facto controller, director, supervisor, or senior manager of a company and the enterprise directly or indirectly controlled by them, and any other connections that may lead to the out bound transfer of the interests of the company. However, the state-controlled enterprises are not deemed affiliated simply because they share the same controller.
Suggestion: Directly quote the definition set out in Chinese Company Law.
二
定義——代理協議
II
Definition—Agency Agreement
建議：將“代理協議”放入“合作備忘錄”。
Suggestion: Put “agency agreement” in “memorandum of cooperation”.

三
定義——“營業日”
III
Definition—“Business Day”
涉及三個國家時差，對村鎮銀行注資和業務開展時的支付結算帶來不便。
建議：以北京時間為準。
Time difference of three countries brings inconvenience for payment and settlement when the village and town bank injects capital and carries out business. 
Suggestion: Subject to Beijing time.
 
四
定義——“控制”
IV
Definition—“Control”
建議：按照《公司法》重新定義：1、當一個股東的出資額或所持有的股份占股份有限公司股本總額百分之五十以上的，為絕對控股。2、當一個股東的出資額或所持有股份的比例雖然不足百分之五十，但依其出資額或所持有的股份所享有的表決權已足以對股東會、股東大會的決議產生重大影響的，為相對控股。3、某人士雖不是公司的股東，但通過投資關系、協議或者其他安排，能夠實際支配公司的，為間接控制。
Suggestion: Redefine in accordance with Company Law: 1. When the capital contribution or share of a shareholder accounts for more than 50% of the share capital of the limited liability company, it means absolute holding. 2. When the capital contribution or share of a shareholder is less than 50% but its voting power hereto is sufficient to cause significant influence on the resolution of shareholder meeting and general meeting of shareholders, it means relative holding. 3. Where a person who is not a shareholder but is able to hold actual control of the acts of the company by means of investment relations, agreements or any other arrangements, it means indirect control.

五
定義——權利負擔
V
Definition—Right Burden
原因：中文意思表達不清。
Reason: Chinese meaning is not clear.

六
定義——重大不利影響
VI
Definition—Significant Adverse Effect
此出資人協議只涉及出資階段，不涉及村鎮銀行將來經營階段。
建議：改為“指對設立村鎮銀行產生重大不利影響”。
This contributor agreement only involves contribution stage, not involving the future operation stage of the village and town bank.
Suggestion: Change into “refers to causing significant adverse effect on establishing the village and town bank”.

七
定義——發起人
VII
Definition—Sponsor
建議：寫明發起人為開行和中安。
Suggestion: Specify the sponsors are CDB and Zhong An Credit.

八
籌備批準文件
VIII
Preparation and Approval Documents
建議： 插入日期“2010年3月31日”。
Suggestion: Insert date “March 31, 2010”.

九
提交籌備報批文件的條件
IX
Conditions for Submission of Preparation and Approval Documents
原因：已在3.01中規定籌備報批文件的時間。
建議：將“只有在下列每一條件于[插入首個最終截止日]之日或其之前得到滿足”改為“只有在下列每一條件得到滿足”。
Reason: The time of preparation and approval documents has been specified in 3.01.
Suggestion: Change “only all the following conditions are satisfied on or prior to the [insert the first final deadline] date” to “only all the following conditions are satisfied”.

十
語言
X
Language
此村鎮銀行的注冊地在中國，適用于中國大陸法律。
建議修改為：本協議以中文和英文書寫，兩種語言文本均具有法律效力。但如果兩種語言文本出現分歧，以中文版本為準。
This village and town bank is registered in China and subject to the law of Mainland China.
Suggestion: Modify it to “This agreement is made in Chinese and English. Both the Chinese version and the English version are of legal force. When the two versions collide with each other, the Chinese version shall prevail”.

十一
適用法律和爭議解決
XI
Applicable Law and Dispute Settlement
原因：此村鎮銀行的注冊地在中國，適用于中國大陸法律。
建議：
Reason: This village and town bank is registered in China and subject to the law of Mainland China.
Suggestion:
b）因本協議產生的或者與本協議有關的任何爭議（包括關于本協議的存在、效力和終止的任何問題）（“爭議”）均應提交“中國國際經濟貿易仲裁委員會”。
Any disputes arising from or related to this agreement (including any problems concerning the existence, effectiveness and termination of this agreement) (“disputes”) shall be submitted to China International Economic and Trade Arbitration Commission.
c）仲裁員由“中國國際經濟貿易仲裁委員會”進行指定。
The arbitrator shall be designated by China International Economic and Trade Arbitration Commission.
d） 仲裁地點為中國深圳。
The place of arbitration shall be Shenzhen.
e）仲裁語言為中文。
The language of arbitration shall be Chinese.
g）和h）刪除，或體現所有股東同等權利的原則。
g) and h) shall be deleted or embody the principle of equality among shareholders.

國開行關于組建村鎮銀行的股東協議的意見
Opinions of CDB on the Shareholder Agreement for Establishing the Village and Town Bank

一
定義——關聯公司
I
Definition—Affiliated Company
態度：堅持
原因：《公司法》第217條第4款規定，“關聯關系，是指公司控股股東、實際控制人、董事、監事、高級管理人員與其直接或者間接控制的企業之間的關系，以及可能導致公司利益轉移的其他關系。但是，國家控股的企業之間不僅僅因為同受國家控股而具有關聯關系。”
建議：直接引用中國《公司法》的定義。
Attitude: Persistence
Reason: Paragraph 4 of Article 217 of Company Law provides that “affiliation” refers to the connection between the controlling shareholder, de facto controller, director, supervisor, or senior manager of a company and the enterprise directly or indirectly controlled by them, and any other connections that may lead to the out bound transfer of the interests of the company. However, the state-controlled enterprises are not deemed affiliated simply because they share the same controller.
Suggestion: Directly quote the definition set out in Chinese Company Law.

二
定義——代理協議
II
Definition—Agency Agreement
態度：堅持
原因：開行認為，“代理協議”寫在合作備忘錄里較妥，而不要寫在出資人協議里。
建議：“代理協議”放入“合作備忘錄”。
Attitude: Persistence
Reason: CDB believes it is proper to write “agency agreement” in memorandum of cooperation, rather than to write it in contributor agreement.
Suggestion: Put “agency agreement” in “memorandum of cooperation”.

三
客戶
III
Customer
態度：商量
原因：原表述概括性不強。
建議：“客戶”是指直接或簡介通過公司業務接受本公司金融服務的人士。
Attitude: Discussion
Reason: Generality of the original expression is not strong.
Suggestion: “Customer” refers to any people who accept financial service of this company directly or indirectly through the corporate business.

四
定義——控制
IV
Definition--Control
態度：商量
原因：定義不明。
建議：按照《公司法》重新定義：1、當一個股東的出資額或所持有的股份占股份有限公司股本總額百分之五十以上的，為絕對控股。2、當一個股東的出資額或所持有股份的比例雖然不足百分之五十，但依其出資額或所持有的股份所享有的表決權已足以對股東會、股東大會的決議產生重大影響的，為相對控股。3、某人士雖不是公司的股東，但通過投資關系、協議或者其他安排，能夠實際支配公司的，為間接控制。
Attitude: Discussion
Reason: Ill-defined.
Suggestion: Redefine in accordance with Company Law: 1. When the capital contribution or share of a shareholder accounts for more than 50% of the share capital of the limited liability company, it means absolute holding. 2. When the capital contribution or share of a shareholder is less than 50% but its voting power hereto is sufficient to cause significant influence on the resolution of shareholder meeting and general meeting of shareholders, it means relative holding. 3. Where a person who is not a shareholder but is able to hold actual control of the acts of the company by means of investment relations, agreements or any other arrangements, it means indirect control.

五
定義——權利負擔
V
Definition—Right Burden
態度：商量
原因：中文表達不清。
建議：翻譯為“權利擁有”。
Attitude: Discussion
Reason: Chinese meaning is not clear.
Suggestion: Translate into “right possession”.

定義——重大不利影響
Definition—Significant Adverse Effect
態度：堅持
原因：此出資人協議只涉及出資階段，不涉及村鎮銀行將來經營階段。
建議：改為“指對設立村鎮銀行產生重大不利影響”。
Attitude: Persistence
Reason: This contributor agreement only involves contribution stage, not involving the future operation stage of the village and town bank.
Suggestion: Change into “refers to causing significant adverse effect on organizing the village and town bank”.

七
定義——少數股東和少數董事
VII
Definition—Minority Shareholder and Minority Director
態度：堅持
原因：沒有保護5%以內小股東的利益。
建議：刪除“少數股東”和“少數董事”的定義。
Attitude: Persistence
Reason: Failure in protecting the interests of less than 5% minority shareholders.
Suggestion: Delete the definitions of minority shareholder and minority director.

八
定義——評估人
VIII—Appraiser
態度：堅持
原因：基于股東平等原則。
建議：由董事會決定
Attitude: Persistence
Reason: Based on the principle of equality among shareholders.
Suggestion: Decided by the board of directors

九
向第三人轉讓
IX
Transfer to the Third Party
a）建議：將“在任何時間”改為“在三年鎖定期后”。
Suggestion: Change “at any time” into “after a lock-in period of three years”.
c）態度：堅持
Attitude: Persistence
原因：基于股東平等原則，《公司法》規定，各股東具有相同的優先購買權。
建議：1.所有股東都不放棄優先購買權。
2.如果IFC內部有關于此條款的相關規定，請將該規定交給開行查閱。
Reason: Based on the principle of equality among shareholders, each shareholder enjoys the same pre-emptive rights in accordance with Company Law.
Suggestion: 1. All shareholders do not abandon the pre-emptive rights.
          2. If there are relevant regulations on this clause within IFC, please submit them to CDB for reference.

十
隨同出售權
X
Right of Co-sale
態度：堅持
建議：“隨同出售出讓方”的股權改為“20％”
Attitude: Persistence
Suggestion: Change to stock equity of “co-sale transferor” into “20%”.

十一
賣出選擇權
XI
Put Option
a）態度：堅持
Attitude: Persistence
原因：根據銀監會（2007）5號文的規定，單一非銀行金融機構的持股比例不得超過10%。如果IFC指定向中安行使賣出選擇權，將會使中安的股份突破銀監會的規定。
建議：刪除（a）款。
Reason: Pursuant to the provisions of the document YJH (2007) No.5, the shareholding ratio of a single non-bank financial institution shall not exceed 10%. If IFC is designated to exercise put option over Zhong An Credit, it will result in that the stocks of Zhong An Credit may go against the provisions of CBRC.
Suggestion: Delete Paragraph (a).
b）建議：將“插入數字”改為“7年”。7年后IFC可以行使賣出選擇權。
Suggestion: Change “insert number” into 7 years. IFC can exercise put option after 7 years.
c）態度：堅持
Attitude: Persistence
建議：1.開行同意IFC享有該權利（IFC提供內部的政策性條款，各股東享有知情權）。
2.但只有在村鎮銀行的經營與IFC的政策性條款相沖突時，IFC才有權行使賣出選擇權。
Suggestion: 1. CDB agrees IFC to enjoy this right (IFC provides internal policy-based terms, and each shareholder enjoys the right of information.
          2. IFC shall exercise put option only if the operation of the village and town bank conflicts with its policy-based terms.
d）態度：商量
Attitude: Discussion
建議：受讓股東（有意愿接受IFC股份的其他股東）同比例購買IFC出售的股份。
Suggestion: Transferee shareholders (other shareholders willing to accept the stocks of IFC) purchase the stocks of IFC with the same proportion.
e）態度：商量
Attitude: Discussion
建議：賣出價款為由評估人確定的公平市場價值。
Suggestion: The sale price shall be the fair market value confirmed by the appraiser.

十二
新股接納標準c）
XII
Acceptance Standard of New Shares c)
態度：商量
原因：對“直接競爭者”定義不明，完全避免金融行業“直接競爭者”的引入描述不清。
建議：對“直接競爭者”的重新定義后決定此條款是否保留。
Attitude: Discussion
Reason: The definition of “direct competitor” is ill-defined, and the description completely avoiding “direct competitor” in the financial industry is unclear.
Suggestion: Redefine “direct competitor” to decide whether this clause will be retained.

十三
股份保持要求
XIII
Share Holding Requirement
a）態度：堅持
Attitude: Persistence
建議：在5年內，國開行和中安中的每一方向國際金融公司保證5年的股份鎖定期，期間，CDB和中安分別保持至少20％和7.5%的股份。
Suggestion: In 5 years, Both CDB and Zhong An Credit guarantee a share lock-in period of 5 years, during which CDB and Zhong An Credit respectively holds at least 20% and 7.5% of the stocks.
b）原因：開行和中安在（a）條保證最低持股量，所以（b）條重復闡述。
Reason: CDB and Zhong An Credit guarantee the minimum equity holdings in Paragraph (a), so Paragraph (b) is repeating. 
建議：刪除。
Suggestion: Delete.

十三
股東會
XIII
Shareholder Meeting
態度：商量
建議：按照《公司法》的規定重新定義股東大會召開的各個事項。
Attitude: Discussion
Suggestion: Redefine all matters on the general meeting of shareholders pursuant to Company Law.

十四
少數股東的同意權
態度：商量
XIV
Consent Right of Minority Shareholder
Attitude: Discussion
原因：由于“少數股東”的定義需要重新斟酌，因此賦予“少數股東”的權利加以修改。
建議： 分別列舉需要在股東會和董事會上50%、 67%、75%、100%表決權同意的事項。（參照《公司法》）
Reason: For “minority shareholder” needs to be redefined, the rights and interests of “minority shareholder” shall be modified.
Suggestion: List respectively matters requiring the voting power of 50%, 67%, 75% and 100% on shareholder meeting and general meeting of shareholders. (Refer to Company Law)
十五
董事會組成
XV
Composition of the Board of Directors
a） 態度：商量
Attitude: Discussion
     原因：同股同權原則。各股東所擁有的董事數（包括提名的獨立董事）占所有董事的比例符合持有股份占總股份的比例。
Reason: Shares of the same class have the same rights. The number of directors (including nominated independent directors) owned by each shareholder shall be in proportion with the holding of shares.   
建議：董事會由9名董事組成，其中：
Suggestion: The board of directors shall be composed of 9 directors, which:
1、3名由開行提名；
Three are nominated by CDB;
2、1名由中安信用提名；
One is nominated by Zhong An Credit;
3、1名由香江提名；
One is nominated by Heung Kong Group；
4、1名由龍崗區的四個公司中的某個公司提名；
One is nominated by a company among the four companies in Longgang District;
5、IFC有權利（但沒有義務）提名1名董事；
IFC reserves the right (but under no obligation) to nominate one director;
6、KFW有權利（但沒有義務）提名1名董事。
KFW reserves the right (but under no obligation) to nominate one director;
7、IFC和KFW有權共同提名一個獨立董事。
IFC and KFW reserve the right to jointly nominate one director.

d）態度：商量
Attitude: Discussion
原因：1.涉及少數董事是否重新定義問題。
2.《公司法》規定，提名的候選董事一旦被股東大會選舉產生，則任何股東均無權在董事任期之內撤換該董事（除非該董事違反了公司法關于董事要求的規定，而必須被罷免）。
Reason: 1. Involving whether minority director shall be redefined.
       2. As specified in Company Law, once a nominated director candidate is elected on the general meeting of shareholders, no shareholder shall have the right to dismiss and replace this director during the tenure (unless the director violates the provisions on director requirements in the company law and thereby must be removed from office).
建議：刪除
Suggestion: Delete.

十六
委員會
XVI
Committee
態度：商量
Attitude: Discussion
原因：1.村鎮銀行在發展初期應盡可能地節約成本，減少機構設置。
2.中國有專門的審計部門和監管部門。
3.“關聯交易”是被明令禁止的，在每一項業務開展時村鎮銀行會受到監管部門的嚴格審查，無需對于關聯交易另外設置機構。
Reason: 1. The village and town bank shall try to save cost and decrease organizations at the initial stage of development.
       2. China has professional audit department and regulatory department.
       3. “Affiliated transaction” is officially prohibited. The village and town bank will be subject to strict scrutiny of the regulatory department prior to conducting every business activity. There is no need to set up additional organizations for affiliated transaction.
建議：刪除（a）審計委員會和（d）關聯交易委員會
Suggestion: Delete (a) audit committee and (d) affiliated transaction committee

十七
管理制度（b）
XVII
Management System (b)
態度：堅持
Attitude: Persistence
建議：行長由開行提名，IFC/KFW擁有一票否決權。
Suggestion: The president is nominated by CDB. Both IFC and KFW have a veto.

十八
XVIII
態度：商量
原因：股東平等原則
建議：刪除9.05和9.06（c）條款中兩處“（且國開行和中安信用應當促使公司）”。
Attitude: Discussion
Reason: Based on the principle of equality among shareholders.
Suggestion: Delete “and CDB and Zhong An Credit shall prompt the company” appeared in Paragraph 9.05 and 9.06 (c).

十九
競業禁止
XIX
Prohibition of Business Strife
建議：開行保證，3年內，在深圳不投資控股另一家村鎮銀行。\
Suggestion: CDB guarantees not to invest and hold stocks of another village and town bank in Shenzhen in 3 years.

二十
語言
XX
Language
態度：堅持
Attitude: Persistence
原因：此村鎮銀行的注冊地在中國，適用于中國陸法律。
Reason: This village and town bank is registered in China and subject to the law of Mainland China.
建議：本協議以中文和英文書寫，兩種語言文本都具有法律效力。但如果兩種語言文本出現分歧，以中文版本為準。
Suggestion: This agreement is made in Chinese and English. Both the Chinese version and the English version are of legal force. When the two versions collide with each other, the Chinese version shall prevail.

二十一
適用法律和爭議解決
XXI
Applicable Law and Dispute Settlement
態度：堅持
原因：此村鎮銀行的注冊地在中國，適用于中國大陸法律。
建議：
Attitude: Persistence
Reason: This village and town bank is registered in China and subject to the law of Mainland China.
Suggestion:
b）因本協議產生的或者與本協議有關的任何爭議（包括關于本協議的存在、效力和終止的任何問題）（“爭議”）均應提交“中國國際經濟貿易仲裁委員會”。
Any disputes arising from or related to this agreement (including any problems concerning the existence, effectiveness and termination of this agreement) (“disputes”) shall be submitted to China International Economic and Trade Arbitration Commission.
c）仲裁員由“中國國際經濟貿易仲裁委員會”進行指定。
The arbitrator shall be designated by China International Economic and Trade Arbitration Commission.
d） 仲裁地點為中國深圳。
The place of arbitration shall be Shenzhen.
e）仲裁語言為中文。
The language of arbitration shall be Chinese.
g）和h）刪除，或體現所有股東同等權利的原則。
g) and h) shall be deleted or embody the principle of equality among shareholders.