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What is the China company legal reprepsentative information ? Definition for China company legal reprepsentative information
According to China'a law ,China company legal representative is a fundamental part of a company’s corporate governance structure. To an extent, the person who is appointed to the position of the legal representative is authorized to conduct many of the company’s affairs. the legal representative must fulfill certain duties while exercising his/her rights.
Here we ATAHK will introduce the potential legal risks that a legal representative may face under civil, criminal and administrative laws and how such risks are often prevented or minimized based on China’s legal practices.
the Company Law tells us that as long as the legal representative acts in compliance with the law and the articles of association of the company, the company will endorse the civil liabilities for the business activities conducted by its legal representative.The legal representative can be considered personally liable for failing to cooperate or obstructing the investigation process
actions of the legal representative that fall in his professional assignment are considered actions of the company herself, and therefore the company will be held responsible.This can be convenient as the person in charge does not have to be physically present to conclude a binding contract. Moreover, rules on stamp use, and procedures to restrict access and monitor use - with or without the assistance of a law firm - are key parts to managing and supervising the activities of senior managers.
can only avoid joint liability for the misconduct of others if he can show credibly that he was not aware of the harmful acts, did not participate in them, or explicitly disagreed at the board meetings.As the legal representative is in charge for the company's business activities, the illegal activities may be considered within the scope of his duties and therefore he could be held directly responsible.
company files for bankruptcy, the legal representative will have to take on a heavy burden that even influences his private life. To make sure that the bankruptcy procedure runs smoothly, PRC law determines that the legal representative is responsible for preserving the company's assets, stamps, accounting books and any documents under his control, and he is obligated to cooperate with courts and the bankruptcy administrator.
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