Article 232 Where anyone violates the present Law and shall be subject to civil liabilities of compensation and payment of fines and penalties and if his properties are not sufficient to cover all the payment at the same time, he shall be first subject to civil liabilities.

Article 233 In case anyone violates the relevant laws and administrative regulations or the relevant provisions of the securities regulatory authority under the State Council and is under any serious circumstances, the securities regulatory authority under the State Council may take measures of prohibiting the relevant responsible persons from entering into the securities market. For the purpose of the present Law, the term of "prohibition from entering into the securities market" as mentioned in the preceding paragraph refers to a system, whereby a person may not undertake any securities practice or hold any post of director, supervisor or senior manager of a listed company within a prescribed term or for life.

Article 234 The fines as collected and the illegal proceeds as confiscated shall be all turned over into the State Treasury.

Article 235 Where any party concerned is dissatisfied with a decision of the securities regulatory body or a department as authorized by the State Council on punishment, it may file an application for an administrative review or file an litigation with the people's court.
 
Chapter XII Supplementary Articles

Article 236 The securities that have been approved for listed trading in a stock exchange according to the relevant administrative regulations before the present Law comes into force may continue to be traded according to law. The securities operation institution that has been approved for establishment in accordance with the relevant administrative regulations and the provisions of the administrative department of finance of the State Council before the present Law comes into force but fails to comply with the provisions of the present Law in a complete manner shall satisfy the requirements as prescribed by the present Law within the prescribed term. The specific measures for implementation shall be separately prescribed by the State Council.

Article 237 Where an issuer applies for verifying the public issuance of any stocks or corporate bonds, it shall pay the expenses for examination according to the relevant provisions.

Article 238 Any domestic enterprise that directly or indirectly issues any securities abroad or lists its securities abroad for trading shall be subject to the approval of the securities regulatory authority under the State Council according to the relevant provisions of the State Council.

Article 239 As for any subscription or trading of stocks of a domestic company in a foreign currency, the specific measures thereof shall be formulated by the State Council separately.

Article 240 The present Law shall be implemented as of January 1, 2006. 
Promulgated by Standing Committee of the National People's Congress on 2005-10-27

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