natgillin/translations-raw huggingface dataset:
Based on Articles 3 and 5 of these Interim Regulations, the Commission established that Members of the Board of Supervisors are dispatched by and accountable to the State Council, thus illustrating the institutional control of the State on the cooperating state-owned banks' business activities.
Na temelju članaka 3. i 5. tog Privremenog pravilnika Komisija je utvrdila da Državno vijeće određuje članove nadzornog odbora i da mu oni odgovaraju, čime se pokazuje da država ima institucionalnu kontrolu nad poslovnim aktivnostima banaka u državnom vlasništvu koje surađuju.
On the basis of chapters 8 to 10 of its Articles of Association, the GOC, through its shareholding of 69,6 %, has the power to appoint the most important positions within the management of the bank, such as the President and the Vice President, the Chairman and the Vice Chairman of the Board of Directors, the Executive Director, as well as the Chairman of the Board of Supervisors.
Na temelju poglavlja 8. do 10. njegova Statuta, kineska vlada zbog svojeg udjela od 69,6 % ima ovlast imenovati najvažnije funkcije u upravi banke, kao što su predsjednik i potpredsjednik, predsjednik i potpredsjednik upravnog odbora, izvršni direktor te predsjednik nadzornog odbora.
According to chapter 11 and 12 of its Articles of Association, the GOC, in its capacity of main shareholder holding 57,31 %, has the power to appoint a majority of the members on the Board of Directors, which is the executive agency of the shareholders' General Meeting carrying out the management of CCB and shall be responsible to the shareholders' meeting.
U skladu s poglavljima 11. i 12. njegova Statuta, kineska vlada u svojstvu većinskog dioničara s udjelom od 57,31 % ima ovlast imenovati većinu članova upravnog odbora, koji je izvršno tijelo skupštine dioničara koje upravlja CCB-om i koje odgovara skupštini dioničara.
The same applies for the Board of Supervisors, i.e. the supervisory body of the Bank, as provided by chapter 16 of the Articles of Association.
Isto se primjenjuje na nadzorni odbor, tj. nadzorno tijelo Banke, kako je navedeno u poglavlju 16.
Moreover, according to CCB's Articles of Association, the Board of Directors decides on the budget of the bank, takes investment decisions, decides on the dismissals of the chief executive auditor and the secretary of the Board of the Directors.
Statuta.
The 10 executive members (out of a total of 15 members) of the Board of Directors are the top management of CCB.
Štoviše, u skladu sa Statutom CCB-a, upravni odbor donosi odluke o proračunu banke, ulaganjima, otpuštanju glavnog izvršnog revizora i tajnika upravnog odbora.
This non-exhaustive list of responsibilities illustrates the institutional control of the State on CCB's daily business.
Deset izvršnih članova (od ukupno 15 članova) upravnog odbora čini najvišu upravljačku razinu CCB-a.
As mentioned in Article 134 of the Articles of Association, the GOC, in its capacity of main shareholder holding 79,62 %, has the power to appoint all of the Directors in the Board of Directors.
Taj otvoreni popis odgovornosti dokaz je institucionalne kontrole države nad svakodnevnim poslovanjem CCB-a.
The same applies to the Board of Supervisors according to Article 199 of the Articles of Association.
Kako je navedeno u članku 134.
Moreover, according to ABC's Articles of Association, the Board of Directors determines the strategy of the bank, decides on the budget of the bank, takes investment decisions, appoints the President and the Board Secretary of the bank, and establishes and monitors the risk management system of the bank.
Statuta, kineska vlada u svojstvu većinskog dioničara s udjelom od 79,62 % ima ovlast imenovati sve direktore u upravnom odboru.
This non-exhaustive list of responsibilities illustrates the institutional control of the State on ABC's daily business.
Isto se odnosi i na nadzorni odbor u skladu s člankom 199.
As mentioned in Article 122 of the Articles of Association, the GOC, in its capacity of main shareholder holding 64,63 %, has the power to appoint both the executive and the non-executive Directors of the bank, which constitute the Board of Directors.
Statuta.
Moreover, according to BOC's Articles of Association, the Board of Directors decides, inter alia, the financial institution's strategic principles, business plans and major investment plans, appoints or dismisses senior staff such as the President and Secretary of the Board, the Vice President, and other senior management personnel.
Štoviše, u skladu sa Statutom ABC-a, upravni odbor utvrđuje strategiju banke, donosi odluke o proračunu banke i ulaganjima, imenuje predsjednika i tajnika upravnog odbora banke te uspostavlja i prati sustav upravljanja rizikom banke.
The Board further decides on the implementation of resolutions at the shareholders' meeting, and approves corporate governance policies.
Taj otvoreni popis obveza dokaz je institucionalne kontrole države nad svakodnevnim poslovanjem ABC-a.
This non-exhaustive list of responsibilities illustrates the institutional control of the State on BOC's daily business.
Kako je navedeno u članku 122.
Evidence showing that the Government exercised meaningful control over the conduct of those institutions
Statuta, kineska vlada u svojstvu većinskog dioničara s udjelom od 64,63 % ima ovlast imenovati izvršne i neizvršne direktore banke koji čine upravni odbor.
The Commission further sought information about whether the GOC exercised meaningful control over the conduct of the five cooperating state-owned banks with respect to their lending policies and assessment of risk, where they provided loans to the steel industry.
Štoviše, u skladu sa Statutom BOC-a, upravni odbor, među ostalim, donosi odluke o strateškim načelima financijske institucije, poslovnim planovima i glavnim planovima ulaganja, imenovanju ili otpuštanju višeg osoblja kao što su predsjednik i tajnik upravnog odbora, potpredsjednik i ostali viši rukovoditelji.
Article 34 of the Law of the PRC on Commercial Banks (‘Bank law’);
Taj otvoreni popis obveza dokaz je institucionalne kontrole države nad svakodnevnim poslovanjem BOC-a.
Articles 7 and 15 of the General Rules on Loans (implemented by the People's Bank of China);
Dokazi koji pokazuju da je vlada provodila znatnu kontrolu nad ponašanjem tih institucija
Chapter 5 of the 12th Five Year Steel Plan;
Komisija je nadalje zatražila informacije o tome je li kineska vlada provodila znatnu kontrolu nad ponašanjem pet banaka u državnom vlasništvu koje surađuju u pogledu njihovih politika davanja zajmova i procjene rizika kada su dale zajmove industriji čelika.
Chapter 5 of the 13th Five Year Steel Plan;
U tom su pogledu u obzir uzeti sljedeći regulatorni dokumenti:
Decision No 40;
članak 34.
Guidelines of the People's Bank of China, China Banking Regulatory Commission (‘CBRC’), China Securities Regulatory Commission (‘CSRC’), and China Insurance Regulatory Commission (‘CIRC’) on supporting the steel and coal industries to resolve overcapacity and achieve turnaround in development (2016) ) (‘Guidelines of the People's Bank of China, CBRC, CSRC and CIRC’);
Zakona NRK-a o poslovnim bankama („Zakon o bankama”),
Notice ‘Several Opinions on Resolving Overcapacity’, issued by the NDRC, the Ministry of Industry and Information Technology (‘MIIT’) and CBRC (2016) (‘notice “Several Opinions on Resolving Overcapacity”’);
članci 7. i 15.
Green Credit Guidelines of the CBRC (read in combination with the Opinions on Strengthening Energy Saving and Emission Reduction and Accelerating Structural Adjustment in the Iron and Steel Sector, June 2010, State Council) (‘Green Credit Guidelines’).
Općih pravila o zajmovima (koje provodi Narodna banka Kine),
Reviewing these regulatory documents, the Commission found that financial institutions in the PRC are operating in a general legal environment that directs them to align themselves with the GOC's industrial policy objectives when taking financial decisions.
poglavlje 12. petogodišnjeg plana za industriju čelika;
At the general level, Article 34 of the Bank law, which applies to all financial institutions operating in China, provides that ‘Commercial banks shall conduct their business of lending in accordance with the needs of the national economic and social development and under the guidance of the industrial policies of the State’.
poglavlje 13. petogodišnjeg plana za industriju čelika;
With respect to EXIM, its public policy mandate is established in the notice of establishing the Import Export Bank of China as well as other public available information.
Odluka br. 40;
Following disclosure, the GOC indicated that special loans referred to in Article 7 of the General Rules on Loans mentioned above were eliminated in 1999 based on a Circular on Improving the Administration of Special Loans (YINFA [1999] No. 228) and that Article 15 had become irrelevant as the PBOC no longer sets the upper and lower limits of loans.
Smjernice Narodne banke Kine, Kineskog bankarskog regulatornog tijela („CBRC”), Kineskog regulatornog tijela za vrijednosne papire („CSRC”) i Kineskog regulatornog tijela za osiguranja („CIRC”) o potpori industrijama čelika i ugljena u rješavanju viška kapaciteta i ostvarenju zaokreta u razvoju (2016.) („Smjernice Narodne banke Kine, CBRC-a, CSRC-a i CIRC-a”);
The GOC further alleged that the Commission had misinterpreted Article 34 of the Bank law.
Obavijest „Nekoliko mišljenja o rješavanju viška kapaciteta”, koju su donijeli NDRC, Ministarstvo industrije i informacijske tehnologije („MIIT”) i CBRC (2016.) (obavijest „Nekoliko mišljenja o rješavanju viška kapaciteta”);
It also referred to Articles 4, 5, and 7 of the Bank law relating allegedly to the bank's autonomy, the lack of interference by entities or individuals, governments and the examination of the credibility of the borrowers.
Smjernice o zelenim kreditima CBRC-a (koje se tumače zajedno s Mišljenjima Državnog vijeća o jačanju štednje energije i smanjenju emisija te ubrzavanju strukturne prilagodbe u sektoru željeza i čelika iz lipnja 2010.) („Smjernice o zelenim kreditima”).
The GOC further commented that Article 34 should not be read in isolation.
Pregledom tih regulatornih dokumenata Komisija je utvrdila da financijske institucije u NRK-u posluju u općem pravnom okruženju u kojem ih se usmjerava da se pri donošenju financijskih odluka usklade s ciljevima industrijske politike kineske vlade.
The Commission acknowledged that special loans were eliminated in 1999.
Općenito, člankom 34.
This does not reverse, however, the conclusions drawn about the existence of preferential lending, which is also based on other facts available which, taken on their own, are sufficient.
Zakona o bankama koji se primjenjuje na sve financijske institucije koje posluju u Kini utvrđuje se da poslovne banke odobravaju zajmove u skladu s potrebama nacionalnoga gospodarskog i socijalnog razvoja te industrijskim politikama države.
As for Article 15 of the General Rules on Loans, the Commission disagreed with the GOC's view.
U pogledu EXIM-a, njegova je zadaća u području javne politike utvrđena u obavijesti o osnivanju Kineske uvozno-izvozne banke te drugim javno dostupnim informacijama.
That Article provides: ‘In accordance with the State's policy, relevant departments may subsidize interests on loans, with a view to promoting the growth of certain industries and economic development in some areas.’
Nakon objave kineska vlada navela je da su prethodno navedeni posebni zajmovi iz članka 7.
Thus, this provision remains relevant even after the end of floor and ceiling rates.
Općih pravila o zajmovima ukinuti 1999. na temelju Okružnice o boljem upravljanju posebnim zajmovima (YINFA [1999.] br. 228) i da je članak 15. prestao biti relevantan jer PBOC više ne određuje gornje i donje granice zajmova.
In any event, Article 38 of the Bank law still refers to limits and may at any point in time be applied.
Kineska vlada tvrdila je i da je Komisija pogrešno protumačila članak 34.
As far as the Bank law is concerned, Articles 4, 5 and 7 belong to ‘Chapter I General provisions’ while Articles 34 and 35 belong to ‘Chapter IV Basic Rules for Loans and Other Business Operations’.
Zakona o bankama.
Article 4 states that ‘The business operations of commercial banks shall be governed by the principles of safety, liquidity and efficiency.
Uputila je i na članke 4., 5., i 7.
Commercial banks shall make their own decisions regarding their business operations, take responsibility for their own risks, assume sole responsibility for their profits and losses and exercise self-restriction.
Zakona o bankama koji se navodno odnose na autonomiju banke, neuplitanje subjekata ili pojedinaca i vlade te ispitivanje kreditne sposobnosti primatelja zajma.
Commercial banks shall, pursuant to law, conduct business operations without interference from any unit or individual.
Nadalje je kineska vlada dostavila primjedbu da se članak 34. ne bi trebao tumačiti sam za sebe.
Commercial banks shall independently assume civil liability with their entire legal person property’.
U pogledu članka 15.
Article 7 of the Bank law relates to the examination of the creditworthiness of the borrower.
Općih pravila o zajmovima Komisija se nije složila sa stajalištem kineske vlade.
The investigation showed that Articles 4 and 7 of the Bank law are applied subject to Article 34 of the Bank law, i.e. where the State establishes a public policy the banks implement it and follow State instructions.
Tim je člankom predviđeno sljedeće: „U skladu s državnom politikom relevantni odjeli mogu subvencionirati kamate na zajmove radi promicanja rasta određenih industrija i gospodarskog razvoja u određenim područjima.”
The findings of this investigation did not support the claim that banks do not take government policy and plans into account while making lending decisions.
Stoga ta odredba ostaje relevantna čak i nakon ukidanja donje i gornje granice stopa.
It rather confirmed the contrary, as has been clearly described in recitals (121) to (128) below.
U svakom slučaju, članak 38.
Therefore, the Commission found that Article 4 of the Bank law did not prevent commercial banks from taking government industrial policy and plans into account.
Zakona o bankama i dalje upućuje na ograničenja i može u bilo kojem trenutku biti primijenjen.
The GOC also referred to Article 5 of the Bank law, deriving from it that there would be ‘no interference by local governments and government departments at various levels, public organizations or individuals in the business operations of the banks.’
U pogledu Zakona o bankama, članci 4., 5. i 7. pripadaju „Poglavlju I. Opće odredbe”, a članci 34. i 35. nalaze se u „Poglavlju IV.
However, the actual text of Article 5 of the Bank law reads as follows: ‘Commercial banks shall adhere to the principles of equality, voluntariness, fairness and good faith in business dealings with their clients’.
Osnovna pravila za zajmove i drugo poslovanje”.
For the Commission, this formulation does not shield banks from their duty to apply public policy considerations as set out in Article 34 of the Bank law.
Člankom 4. predviđeno je da „poslovanje poslovnih banaka regulirano je načelima sigurnosti, likvidnosti i učinkovitosti.
As set out in recitals (121) to (128) below, in view of the behaviour of the banks when providing loans to the sampled companies, this Article can therefore not be considered to contradict the interpretation of Article 34 established by the Commission.
Poslovne banke donose vlastite odluke o svojem poslovanju, preuzimaju odgovornost za vlastite rizike, preuzimaju isključivu odgovornost za svoju dobit i gubitke te se samostalno ograničavaju.
The industrial policy of the State is established through central planning, as explained in section 3.1 above.
U skladu sa zakonom poslovne banke posluju bez uplitanja bilo kojeg subjekta ili osobe.
With regards to the steel industry, chapter 5 of the 12th Five Year Steel Plan specifically provides for strengthening the connection between financial policies and the steel industrial policy.
Poslovne banke neovisno preuzimaju građanskopravnu odgovornost i odgovaraju svojom cijelom imovinom pravne osobe.”
Furthermore, Chapter 5 of the 13th Five Year Steel Plan issues ‘guidance to financial institutions and private capital to support the priority tasks of the Plan’, and provides that ‘As regards enterprises having a market and being profitable, banks shall keep the demand for credit reasonable’.
Članak 7.
Similarly, Decision No. 40 instructs all financial institutions to provide credit support specifically to ‘encouraged’ projects.
Zakona o bankama odnosi se na ispitivanje kreditne sposobnosti primatelja kredita.
As already explained in section 3.1, projects of the steel industry belong to the ‘encouraged’ category.
U ispitnom postupku pokazalo se da se članci 4. i 7.
Following disclosure, the GOC indicated that the Commission did not explain how Decision No. 40 demonstrates that banks are required to undertake any preferential credit operations, and referred to Articles 17 and 18 of this Decision.
Zakona o bankama primjenjuju u skladu s člankom 34.
The Commission noted that the Decision incorporates the GOC's will to actively support the development of the steel industry.
Zakona o bankama, tj. kada država utvrdi javnu politiku, banke je provode i slijede državne upute.
The Decision also instructs all financial institutions to provide credit support only to encouraged projects (the category in which the steel projects belong) and promises the implementation of ‘other preferential policies on the encouraged projects’.
Nalazi ovog ispitnog postupka nisu poduprli tvrdnju da banke ne uzimaju u obzir vladine politike i planove prilikom odlučivanja o davanju zajmova.
On the basis of the above, banks are required to provide credit support to the steel industry under Decision No. 40.
Zapravo su potvrdili suprotno, kako je jasno opisano u uvodnim izjavama od (121). do (128). u nastavku.
While Articles 17 and 18 of the same Decision also ask the bank to respect credit principles the Commission could not establish during the investigation that this was done in practice.
Stoga je Komisija utvrdila da se člankom 4.
Decision No. 40 hence confirms the previous finding with respect to the Bank law that banks exercise governmental authority in the form of preferential credit operations.
Zakona o bankama poslovne banke ne sprečava da uzimaju u obzir vladinu industrijsku politiku ili planove.
Furthermore, the Guidelines of the People's Bank of China, CBRC, CSRC, and CIRC, as well as the notice ‘Several Opinions on Resolving Overcapacity’, are specifically targeted at companies in the steel sector.
Kineska vlada uputila je i na članak 5.
They state that financial institutions must fully recognize the pillar role and strategic importance of steel and coal industries and continue to give credit support to the steel companies which comply with industrial policy and which adjust and regroup themselves without increasing their production capacity.
Zakona o bankama, izvodeći iz njega da „ne bi bilo uplitanja lokalnih uprava i vladinih odjela na različitim razinama, javnih organizacija ili pojedinaca u poslovanje banaka”.
This support shall extend to the setting of interest rates and the promotion of bonds and loans for mergers and acquisitions.
Međutim, stvarni tekst članka 5.
Furthermore, debt restructuring and debt forgiveness is promoted.
Zakona o bankama glasi kako slijedi: Poslovne banke obvezne su poštovati načela jednakosti, slobodne volje, poštenja i dobre vjere u poslovanju sa svojim klijentima.
Following disclosure, the GOC stated that the Commission failed to mention any specific provisions in the above-mentioned documents which support its conclusions.
Prema Komisiji ta formulacija ne štiti banke od njihove obveze da uzimaju u obzir javnu politiku kako je utvrđeno u članku 34.
The Commission highlighted that it had based its statements in the previous recital inter alia on the following passages of the notice ‘Several Opinions on Resolving Overcapacity’:
Zakona o bankama.
‘Banking financial institutions shall raise their appreciation of the pillar and strategic role of the iron and steel industry and the coal industry in the national economy, and earnestly implement credit extension policies of differentiated treatment that are both accommodative and controlling.’
Kao što je navedeno u uvodnim izjavama od (121). do (128). u nastavku, s obzirom na ponašanje banaka pri davanju zajmova društvima u uzorku, ne može se smatrati da se tim člankom proturječi tumačenju članka 34. koje je utvrdila Komisija.
‘Financial support shall be stepped up for iron and steel enterprises and coal enterprises that engage in merger and reorganization.’
Industrijska politika države utvrđuje se središnjim planiranjem kako je prethodno objašnjeno u odjeljku 3.1.
‘Banking financial institutions are encouraged to reorganize the loans disbursed to iron and steel enterprises and coal enterprises that are in difficult conditions but take the initiative to reduce capacity.’
U pogledu industrije čelika, petim poglavljem 12. petogodišnjeg plana za industriju čelika posebno se predviđa jačanje povezanosti između financijskih politika i industrijske politike u pogledu čelika.
‘As regards iron and steel enterprises and coal enterprises with marketable products or services and promising development potentials that are in line with national industrial policies and take the initiative to reduce capacity, adjust structures and transform development models, banking financial institutions shall set up creditor committees, adjust the maturity, interest rates and repayment methods of loans and take other measures.’
Nadalje, u petom poglavlju 13. petogodišnjeg plana za industriju čelika utvrđuju se smjernice za financijske institucije i privatni kapital kojima se podupiru prioritetne zadaće iz Plana te se utvrđuje da u pogledu postojanja tržišta za poduzeća i njihove profitabilnosti, banke održavaju potražnju za kreditima u razumnim granicama.
As far as the Guidelines of the People's Bank of China, CBRC, CSRC, and CIRC are concerned, the following passages are inter alia relevant:
Slično tome, Odlukom br. 40 sve se financijske institucije upućuju da kreditnu potporu posebno pruže poticanim projektima.
‘Banking financial institutions should fully recognize the pillar role and strategic position of steel and coal industries, accurately grasp the law of their development, continue to give credit support, in accordance with the principles of risk controllability and business sustainability, to high-quality backbone enterprises, which have advanced technology and equipment, competitive products, markets, and may restore their competitiveness and get rid of temporary difficulties after deepening reform and strengthening internal management; actively offer comprehensive financial services to the enterprise which adjusts and regroups itself but doesn't increase its production capacity.’
Kako je već objašnjeno u odjeljku 3.1., projekti industrije čelika svrstani su u kategoriju poticanih projekata.
‘Improve interest rate pricing management, and reduce enterprise's financing costs.’
Nakon objave kineska vlada navela je da Komisija nije objasnila kako je iz Odluke br. 40 vidljivo da banke moraju poduzeti bilo kakve radnje u pogledu povlaštenih kredita te je uputila na članke 17. i 18. te Odluke.
‘Actively promote the innovation of green of bonds and high yield bonds.
Komisija je napomenula da Odluka uključuje volju kineske vlade da aktivno podupire razvoj industrije čelika.
Expand the issuance of green financial bonds, green asset securitization and other innovative financial instruments to guide the green development of the steel and coal industries.’
Odlukom se također daju upute svim financijskim institucijama da kreditnu potporu pruže samo poticanim projektima (kategorija kojoj pripadaju projekti povezani s čelikom) i obećava se provedba „drugih povlaštenih politika za poticane projekte”.
‘Actively and steadily promote debt restructuring at the enterprise.
Na temelju prethodno navedenog banke su obvezne pružiti kreditnu potporu industriji čelika u skladu s Odlukom br. 40.