Measures for the Administration of Professional Risk Funds of Asset Appraisal Institutions

资产评估机构职业风险基金管理办法

Promulgating Institution: Ministry of Finance

Document Number: Cai Qi [2009] No. 26

Promulgating Date: 02/24/2009

Effective Date: 02/24/2009

颁布机关: 财政部

文      号: 财企[2009]26号

颁布时间: 02/24/2009

实施时间: 02/24/2009

 Article 1   These Measures are formulated for the purposes of regulating the administration of professional risk funds of asset appraisal institutions, improving the professional indemnity system and enhancing risk resistance abilities of such institutions. 

Article 2   Asset appraisal institutions shall draw and use professional risk funds in accordance with these Measures. 

Article 3   By the end of each accounting year, an asset appraisal institution shall, on the basis of the revenue from its appraisal business of the current year, draw a portion of not less than five percent of the administrative expenses as professional risk fund and set up a special account for calculation. 

Article 4   Professional risk funds drawn by asset appraisal institutions shall be used for the following purposes: 

(1) Civil compensation caused by professional liabilities;

(2) Legal fees related to civil compensation, including attorney fees and litigation fees; and  

Where expenditure under Paragraph (1) of this Article occurs, any portion of such expenditure recovered by asset appraisal institutions from the relevant liable persons shall be incorporated into professional risk funds. 

Article 5   During the continuous operating period, an asset appraisal institution shall ensure that the balance of professional risk fund is not less than five percent of the aggregate revenues from its appraisal business in the last five years. 

In the event that the balance of professional risk fund is less than five percent of the aggregate revenues from its appraisal business in the last five years due to any compensation paid, an asset appraisal institution shall draw adequate supplementary funds by the end of the current accounting year.

With respect to an asset appraisal institution qualified for appraisal of securities and futures-related business, if the net asset value is lower than RMB 2 million due to raising supplementary professional risk funds, the shareholders or partners of such institution shall contribute capital to make up for the difference in the net asset value within three months.  

Article 6   Subject to Paragraph 1 of Article 5 of these Measures, an asset appraisal institution may carry forward to the balance of professional risk funds that have been drawn for over five years (exclusive of five years) to profit available for distribution of the current year with the approval of shareholders or partners. Meanwhile, the asset appraisal institution shall improve relevant internal management system.  

Article 7   In the event of the merger of asset appraisal institutions, the professional risk funds drawn by the merging parties shall be integrated into the merged institution. 

Article 8   In the event of division of an asset appraisal institution, the professional risk funds drawn by the original institution shall be distributed among parties resulting from the division in accordance with the principle of correspondence between rights and obligations. Such distribution shall be agreed on in the division agreement. 

Article 9   In the event of liquidation of an asset appraisal institution, the balance of professional risk funds shall be carried forward to liquidation profit.  

Article 10   An asset appraisal institution may enhance its risk resistance abilities by purchasing professional liability insurance in the province where it is located.  

Asset appraisal institutions which have purchased professional liability insurance in accordance with these Measures do not have to draw professional risk funds for the years covered by the insurance. 

Article 11   Asset appraisal institutions which purchase professional liability insurance shall enter into a written insurance contract with the insurance company. The insurance contract shall comply with relevant legal provisions and specify the following: 

(1) Coverage scope shall be the revenue from the appraisal business of asset appraisal institutions; 

(2) Scope of compensation shall be consistent with the expenditure scope of professional risk funds as set out in Paragraph 1 of Article 4 of these Measures; 

(3) Retroactive period shall be effective from the year when professional liability insurance is initially purchased; and

(4) Accumulative compensation limit shall not be less than five percent of the aggregate revenues from appraisal business for the years covered by insurance. 

Article 12   In the event that the retroactive period of professional liability insurance of an asset appraisal institution exceeds five years and the accumulative compensation limit is not less than five percent of the aggregate revenues from its appraisal business in the latest five years, such institution is allowed not to increase its accumulative compensation limit for professional liability insurance and distribute the balance of professional risk funds drawn before the last five years. 

Article 13   The professional risk funds of the branches of an asset appraisal institution shall be drawn and utilized uniformly by the head office. 

In the case that an asset appraisal institution purchasing professional liability insurance has branches, the coverage scope shall also include the branches' revenues from appraisal business. 

Article 14   An asset appraisal institution shall, in accordance with the Notice of the Ministry of Finance on Issues Related to Strengthening Continuous Management of Asset Appraisal Institutions (Cai Qi [2008] No. 62), file a photocopy of professional liability insurance policy, information of the account of accumulative professional risk funds audited by a certified public accounting firm together with the annual financial statements and other materials required with the local financial authorities and appraisal societies at the provincial level for record.  

An asset appraisal institution that is qualified for appraisal of securities and futures-related business shall, in accordance with the Notice of the Ministry of Finance and China Securities Regulatory Commission on Issues Related to the Administration of Asset Appraisal Institutions That Engage in Securities and Futures-related Business (Cai Qi [2008] No. 81), file a photocopy of professional liability insurance policy, information of the account of accumulative professional risk funds audited by a certified public accounting firm together with the basic information form of the asset appraisal institution and other materials required with the Ministry of Finance, the China Securities Regulatory Commission and the China Appraisal Society for record.  

Article 15   The Ministry of Finance and financial authorities at the provincial level shall supervise over asset appraisal institutions in respect of drawing, utilizing and allocating professional risk funds as well as the purchase of professional liability insurance. In the event that an asset appraisal institution violates these Measures, financial authorities above the provincial level shall order it to make corrections within the prescribed time limit, record the violation into its credit file and publicize the case to the public. 

Article 16   These Measures shall become effective from February 24, 2009. In the event that any provision with respect to professional risk funds of asset appraisal institutions prior to the implementation hereof is not consistent with these Measures, these Measures shall prevail.

      第一条 为规范资产评估机构职业风险基金的管理，完善资产评估机构职业责任保障机制，提高抵御风险能力，制定本办法。

    第二条 资产评估机构应当按照本办法规定提取、使用职业风险基金。

    第三条 资产评估机构应当于每一个会计年度终了前，以本年度评估业务收入为基数，按照不低于5%的比例从管理费用中提取职业风险基金，并设立专户核算。

    第四条 资产评估机构提取的职业风险基金应当用于下列支出：

   （一）因职业责任引起的民事赔偿；

   （二）与民事赔偿相关的律师费、诉讼费等法律费用。

   本条第一款支出事项发生后，资产评估机构向相关责任人追偿的部分，应当纳入职业风险基金管理。

    第五条 资产评估机构持续经营期间，应当保证结余的职业风险基金不低于近5年评估业务收入总和的5%。

   资产评估机构因赔付造成职业风险基金余额低于近5年评估业务收入总和5%的，应当于本会计年度终了前提取补足职业风险基金。

   具有证券、期货相关业务评估资格的资产评估机构，因补提职业风险基金导致净资产不足200万元的，股东或合伙人应当在三个月内注资补足净资产。

    第六条 资产评估机构在符合本办法第五条第一款规定的前提下，经股东会或合伙人决议，可将已计提5年以上（不含5年）结存的职业风险基金转作当年可供分配的利润进行分配，同时应当完善相关内部管理制度。

    第七条 资产评估机构合并的，合并前各方已提取的职业风险基金应当并入合并后机构。

    第八条 资产评估机构分立的，已提取的职业风险基金应当按照权利与责任一致的原则，在分立各方之间进行分配，并在分立协议中予以约定。

    第九条 资产评估机构清算时，职业风险基金余额应当核转清算收益。

    第十条 资产评估机构可以在机构所在省通过购买职业责任保险的方式，提高抵御职业责任风险的能力。

   资产评估机构购买职业责任保险符合本办法规定的，可不再提取购买保险年度的职业风险基金。

    第十一条 资产评估机构购买职业责任保险的，应当与保险公司签订书面保险合同。保险合同除了符合有关法律规定外，还应当约定以下事项：

   （一）投保范围为资产评估机构的评估业务收入；

   （二）赔偿范围应当与本办法第四条第一款规定的职业风险基金支出范围一致；

   （三）追溯期应当追溯至首次购买保险年度；

   （四）累计赔偿限额不得低于已购买保险年度评估业务收入总和的5%。

    第十二条 资产评估机构职业责任保险的追溯期超过5年，且累计赔偿限额已不低于近5年评估业务收入总和5%的，可不再增加职业责任保险累计赔偿限额，并可将5年以前计提的职业风险基金余额予以分配。

    第十三条 资产评估机构的分支机构的职业风险基金，由总机构统一提取和使用。

   购买职业责任保险的资产评估机构具有分支机构的，投保范围应包括其分支机构的评估业务收入。

    第十四条 资产评估机构应当按照《财政部关于加强资产评估机构后续管理有关问题的通知》（财企[2008]62号）的规定，将职业责任保险保单复印件、经会计师事务所审计的累计职业风险基金账户信息，随同年度会计报表等资料一并报所在地的省级财政部门、评估协会备案。

   具有证券、期货相关业务评估资格的资产评估机构应当按照《财政部 证监会关于从事证券期货相关业务的资产评估机构有关管理问题的通知》（财企[2008]81号）的规定，将职业责任保险保单复印件、经会计师事务所审计的累计职业风险基金账户信息，随同资产评估机构基本情况表等资料一并报财政部、证监会、中国资产评估协会备案。

    第十五条 财政部以及省级财政部门对资产评估机构提取、使用、分配职业风险基金以及购买职业责任保险的情况进行监督。

资产评估机构违反本办法规定的，由省级以上财政部门责令限期改正，记入诚信档案，并向社会公告。

    第十六条 本办法自2009年2月24日起施行。本办法施行前有关资产评估机构职业风险基金的规定与本办法不符的，以本办法为准。