中外合资经营合同英文(13)
examination, Party A shall give its consent. All the expenses thereof
shall be borne by Party B.
Article 47
In the first three months of each fiscal year, the manager shall
prepare the previous year's balance sheet, profit and loss statement and
proposal regarding the disposal of profits, and submit them to the board
of directors for examination and approval.
Chapter 15 Duration of the Joint Venture
Article 48
The duration of the joint venture company is ___________ years. The
establishment date of the joint venture company shall be the date on which
the business license of the joint venture company is issued.
An application for the extension of the duration, proposed by one
party and unanimously approved by the board of directors, shall be
submitted to the Ministry of Foreign Trade and Economic Cooperation (or
the examination and approval authority entrusted by it) six months prior
to the expiry date of the joint venture.
Chapter 16 The Disposal of Assets after the Expiration of the Duration
Article 49
Upon the expiration of the duration, or termination before the date of
expiration of the joint venture, liquidation shall be carried out
according to the relevant laws. The liquidated assets shall be distributed
in accordance with the proportion of investment contributed by Party A and
Party B.
Chapter 17 Insurance
Article 50
Insurance policies of the joint venture company on various kinds of
risks shall be underwritten with the People's Republic of China. Types,
value and duration of insurance shall be decided by the board of directors
in accordance with the provisions of the People's Insurance Company of
China.
Chapter 18 The Amendment, Alteration and Termination of the Con- tract
