Upon the termination of the Fund Contract, the fund shall be liquidated according to laws and regulations and the relevant provisions of the Fund Contract, and the fund manager shall organize a liquidation team to liquidate the fund property. The liquidation group consists of fund managers, fund custodians and relevant intermediary service agencies. The liquidation report made by the liquidation group shall be audited by an accounting firm, and after the law firm issues a legal opinion, it shall be reported to the the State Council Securities Regulatory Authority for filing and announcement. The remaining fund property after liquidation shall be distributed according to the shares held by the fund share holders.
(1) fund liquidation team
1. A fund liquidation team shall be established within 30 working days from the date of termination of the fund, and the fund liquidation team shall conduct fund liquidation under the supervision of the China Securities Regulatory Commission. Before the fund liquidation group takes over the fund assets, the fund manager and the fund custodian shall continue to perform their duties of protecting the security of the fund assets in accordance with the provisions of the fund contract and custody agreement.
2. The members of the fund liquidation group are fund promoters, fund managers, fund custodians, certified public accountants with securities-related business qualifications, lawyers with securities legal business qualifications and personnel designated by the China Securities Regulatory Commission. The fund liquidation group may employ necessary staff.
3. The fund liquidation team is responsible for the customs declaration, liquidation, valuation, realization and distribution of fund assets. The fund liquidation group may conduct necessary civil activities according to law.
(2) Liquidation procedures
1. After the termination of the fund, the fund liquidation team will take over the assets of the fund;
2. The fund liquidation group shall clean up and confirm the fund assets;
3. Evaluate and realize fund assets;
4. Report the fund liquidation results to the China Securities Regulatory Commission;
5. Announce the fund liquidation announcement;
6. Allocate fund assets.
(3) Liquidation expenses
Liquidation expenses refer to all reasonable expenses incurred by the fund liquidation group in the process of fund liquidation, and the liquidation expenses shall be paid by the fund liquidation group in priority from the fund assets.
(four) the distribution of the remaining assets of the fund
After the fund is liquidated, all remaining assets, if any, after deducting liquidation expenses, shall be distributed according to the proportion of fund shares held by fund holders.
(5) Announcement of fund liquidation.
The fund liquidation team will make an announcement within 5 working days after the fund is terminated and approved by the China Securities Regulatory Commission. Major events in the liquidation process shall be announced in a timely manner. The fund liquidation results shall be announced by the fund liquidation team within 3 working days after the approval of the China Securities Regulatory Commission.
(six) keep the liquidation books and documents.
The fund clearing account books and related documents shall be kept by the fund custodian for more than 15 years.