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Notice on Printing and Distributing Temporary Measures on Supervising Presale Capital of Commodity Housing in Wuxi Issued by the Wuxi Municipal People's Government
Release time:2016-12-02 Browse:
 

Index No.

014007262/2014-00109

Creation date

Oct. 14, 2014

Issuing date

Oct. 21, 2014

Document No.

No. 1 Document, 2014, the Planning Department of the Wuxi Municipal People's Government

Period of publicity

Long term

Issuing department

The Office of Legislative Affairs of the Wuxi Municipal People's Government

Forms of publicity

On websites, documents and government gazettes

Mode of publicity

Initiative publicity

Range of publicity

The whole society

Period of validity

Long term

Procedures of publicity

Publicity after being drafted by the department and approved by relevant offices

Theme (the 1st level)

Comprehensive government affairs legal institution

Type

Notice

Key words

Management, housing and capital

File download

Content summary

Notice on Printing and Distributing Temporary Measures on Supervising Presale Capital of Commodity Housing in Wuxi Issued by the Wuxi Municipal People's Government

 

All people’s governments of cities (counties) and districts, all municipal committees, offices and bureaus and all subordinate units,

 

The Temporary Measures on Supervising Presale Capital of Commodity Housing in Wuxi has been deliberated and passed at the 31st Executive Meeting of the Wuxi Municipal People’s Government on August 4, 2014, and is now printed and distributed to you. Please earnestly implement it.

 

The Wuxi Municipal People's Government

 

October 14, 2014

 

Temporary Measures on Supervising Presale Capital of Commodity Housing in Wuxi

 

Article 1 In order to facilitate sound development of real estate market, ensure legal interests of parties of presale of commodity housing and standardize supervision and management on presale capital of commodity housing, according to the Urban Real Estate Administration Law of the People’s Republic of China, the Measures on Managing Presale of Urban Commodity Housing and other laws and rules and in combination with realities in Wuxi, the Measures is hereby formulated.

 

Article 2 The Measures is applicable to reception and storage, use and supervision and management of capital of commodity housing approved for presale in urban area in Wuxi.

 

Article 3 The presale capital of commodity housing mentioned in the Measures refers to all housing prices including earnest money, down payment and subsequent payment (including mortgage loan for commodity housing) paid by house purchasers according to presale contract of commercial building when real estate development enterprises sell commodity housing in advance.

 

Article 4 Supervision and management on presale capital of commodity housing shall follow the principles of government regulation, multi-participation, special account for deposit and fixed sum for fixed purpose.

 

Article 5 The Wuxi Municipal Bureau of Housing Security and Real Estate Management (hereinafter referred to as the municipal housing security and real estate management bureau) shall be the competent department of supervision and management on presale capital of commodity housing in Wuxi and take charge of organization and implementation of the Measures.

 

The housing transaction supervision institutes shall be responsible for specific supervision work of presale capital of commodity housing and mainly fulfill the following duties:

 

(i) To implement policies, guidelines, laws and regulations on supervision and management on presale capital of commodity housing of the country, province and city;

 

(ii) To establish, maintain and manage information system of supervision and management on presale capital of commodity housing;

 

(iii) To check reception, deposit and withdrawal of presale capital of commodity housing;

 

(iv) To urge and check implementation conditions of supervision and management on presale capital of commodity housing and handling complaints about irregularity actions in collecting and utilizing presale capital of commodity housing;

 

(v) To undertake other tasks relating to supervision and management on presale capital of commodity housing.

 

People’s Bank of China Wuxi Central Branch and the China Banking Regulatory Commission Wuxi Branch shall be in charge of guiding and supervising commercial banks’ executing regulations on supervising and managing presale capital of commodity housing.

 

Article 6 Presale capital of commodity housing shall be deposited in special account for supervision and management on presale capital of commodity housing (hereinafter referred to as special account), and focus on supervising and managing capital limit for installing housing construction and building supporting facilities in the area (hereinafter referred to as key supervised capital), ensuring engineering construction.

 

Key supervised capital shall be confirmed after calculating fund supervision standard per square meter and available covered area of presale projects. The fund supervision standard per square meter shall be comprehensively measured and timely adjust and release by related professional institutes organized by the municipal housing security and real estate management bureau according to different housing construction structure, use and other factors.

 

Article 7 Establish unified supervisory system of presale capital of commodity housing (hereinafter referred to as the supervisory system) in Wuxi and implement network-based management on presale capital through supervisory system.

 

Article 8 Before applying for the License for Presale (Sale) of Commodity Housing, real estate development enterprises shall discuss with supervision institutes to apply to open special accounts of supervision and management on presale capital of commodity housing in local commercial banks, and one special account corresponds to one presale license application. Supervision institutes, commercial banks and real estate development enterprises shall sign agreement on supervision and management on presale capital of commodity housing through supervisory system.

 

Article 9 Real estate development enterprises shall express supervision bank and account of presale capital of commodity housing in presale plan and attach agreement on supervision and management on presale capital of commodity housing.

 

Article 10 When pre-selling commodity housing, real estate development enterprises shall publicly display supervision bank and account of presale capital of commodity housing on the sales spot.

 

When purchasing commodity housing, purchasers shall deposit housing purchase fund in supervision institutes by convention and entrust supervision institutes to supervise utilization of housing purchase fund according to the Measures.

 

Article 11 Presale capital of commodity housing shall be directly deposited in supervision banks by housing purchasers through counters of commercial banking outlets or special POS machines with letter of notice on paying presale capital of commodity housing; and the earnest money paid by housing purchasers shall be directly deposited by real estate development enterprises. If housing purchasers buy commodity housing with mortgage loan, the loan shall be directly deposited in supervision accounts by lending banks according to appointed time and amount in the loan contracts, interest accrual starts after deposit of mortgage loan.

 

After presale capital enters supervision accounts, the real estate development enterprises shall issue housing selling invoice for housing purchasers with payment voucher of the purchasers.

 

Article 12 Funds in the supervision accounts, except for those key supervised capital, can be directly applied for withdrawal by real estate development enterprises through supervision system and shall be preferentially used for engineering construction.

 

Article 13 Real estate development enterprises can apply for appropriating key supervised capital if the engineering construction conforms to the following conditions:

 

(i) Concerning multi-story buildings finishing 50% visual schedule or high-rise buildings finishing 30 visual schedule, their accumulative applied capital amount cannot surpass 40% of deposited key supervised capital;

 

(ii) With regard to buildings whose visual schedule reaches capping of major structure, their accumulative applied capital amount cannot surpass 60% of deposited key supervised capital;

 

(iii) With regard to buildings whose visual schedule finishes inside and outside rendering, their accumulative applied capital amount cannot surpass 70% of deposited key supervised capital;

 

(iv) With regard to buildings passing acceptance, their accumulative applied capital amount cannot surpass 95% of deposited key supervised capital;

 

Concerning buildings of over 9 floors finishing 60% visual schedule, their accumulative applied capital amount cannot surpass 50% of deposited key supervised capital;

 

Article 14 When applying for withdrawal of key supervised capital, real estate development enterprises shall submit application form of withdrawing key supervised capital to supervision institutes of presale capital of commodity housing and respectively offer the following materials according to time nodes:

 

(i) Concerning multi-story buildings finishing 50% visual schedule or high-rise buildings finishing 30 visual schedule and buildings reaching capping of major structure and completing external walls construction, offer documentary evidence issued by development, construction and supervision units and proof of on-site survey of supervision institutes or entrusted units;

 

(ii) With regard to buildings passing acceptance, offer certificate of filing of completion acceptance and putting into use of commodity housing.

 

Article 15 The supervision institutes of presale capital of the commodity housing shall finish review within two workdays since the day of acceptance, concerning those conforming to Article 13 in the Measures, issue certificate of agreement on allocation; and with regard to those failing to conform to conditions, issue notification of refusal on allocation.

 

Article 16 Real estate development enterprises shall apply to commercial banks for allocating supervision funds with certificate of agreement on allocation issued by the supervision institutes of presale capital of the commodity housing and other materials.

 

Commercial banks shall pay supervision funds to trading objects such as construction enterprises of supervised projects according to appointment on entrusted payment in the agreement on supervision and management on presale capital of commodity housing within two workdays since receiving the application.

 

Article 17 Commercial banks shall, in accordance with agreed time and means in agreement on supervision and management on presale capital of commodity housing, offer relevant information about supervision accounts of banks under administrative to supervision institutes of presale capital of the commodity housing.

 

Article 18 If deposited funds are less than total amount of key supervised capital and real estate development enterprises and housing purchasers terminate house-purchase contact, real estate development enterprises can apply to the supervision departments for returning corresponding housing purchase funds with certificate of online filing cancel of housing, and the supervision departments shall issue certificate of agreement on allocation and allocate funds with transmitted electronic information within two workdays.

 

If deposited funds are more than total amount of key supervised capital and real estate development enterprises and housing purchasers terminate house-purchase contact, real estate development enterprises can clear refunds by themselves.

 

Article 19 After finishing initial registration of commodity housing construction project, real estate development enterprises can apply to supervision institutes of presale capital of commodity housing for cancelling supervised accounts. If that’s the case after check, supervision institutes of presale capital of commodity housing shall inform and development enterprises and commercial banks of deposit to repeal supervision on supervised accounts and allocate all funds remaining within two workdays.

 

Article 20 If real estate development enterprises have one of the following behaviors, supervision institutes of presale capital of commodity housing shall instruct them to correct; and concerning those of severe circumstances or refusing to correct, suspend allocation of supervision funds of the project and online contract signing and filing of commodity housing, publicly display their illegal behaviors and write them into enterprise credit file and credit reference system of People’s Bank of China:

 

(i) Failing to deposit housing prices in supervised accounts according to Article 10 in the Measures;

 

(ii) Escaping supervision in disguised form such as collecting other funds;

 

(iii) Failing to use presale capital for own engineering construction according to the Measures.

 

Article 21 If commercial banks of deposit fail to timely register or allocate supervision funds according to regulations or agreements, the supervision departments of banking industry shall urge them to correct; if they arbitrarily allocate or embezzle supervision funds, commercial banks shall take back funds and shoulder corresponding responsibilities, and supervision institutes of presale capital of commodity housing shall stop signing agreement on supervision and management on presale capital of newly-built commodity housing with commercial banks having illegal behaviors.

 

Article 22 If related staffs of supervision and management on presale capital of commodity housing misconduct in office, misuse authority, play favoritism or commit irregularities, their units or superior competent departments shall give disciplinary sanction; if they constitute crimes, give criminal sanctions according to law.

 

Article 23 Jiangyin and Yixing can practice by referring to the Measures.

 

Article 24 The Measures shall be put into force from January 1, 2015 and revised and perfected according to executive conditions after one year. The Measures is not applicable to policy-related security housing.

 

 

 

 

 

 

 

 

 

 
Technical Support: Wuxi WangDao