核准制下公司改组的操作规范探讨

An Inquing into Operative Standards of Company Reorganization Under the Authorization System

我国股票发行改革的目标是推行股票发行核准制 ,核准制赋予了券商培育、选择与推荐企业发行上市的新职能 ,同时也加大了对券商违规操作、违规经营的处罚力度。券商必须本着对证券市场负责 ,对投资者负责 ,对自身负责的精神 ,选择优秀的企业推荐上市。核准制对拟发行公司的改组规定更硬性、要求更具体。因此公司能否扎扎实实地搞好改组 ,成立规范化的股份有限公司是公司能否成功发行上市的重要环节。

The reform target of stock issue is to carry out the Authorization System of security issue. The Authorization System gives new functions to security dealers who can cultivate, choose and recommend some corperctions to issue and list. At the same time it can strengthen punishments to dealers when they operate and manage their transactions contrary to the laws and regulations. Motivated by desires to be responsible for the stock market, investors and themselves,security traders must select outstanding corporations and recommend them to list.The Authorization System gives more rigid and inflexible rules to the reorganization of a company, which is planning to issue, and puts forward more concrete claims for it. So whether a company can do well its reorganization, and found a standardized, incorporated company, which is the key link in the successful issue and listing.