The Company Law of the People's Republic of China, revised for the second time at the 7th meeting of the 14th National People's Congress Standing Committee on December 29, 2023, shall come into effect on July 1, 2024. In order to solve the problem of the connection and application of new and old laws after the implementation of the Company Law, the Supreme People's Court has formulated the "Several Provisions of the Supreme People's Court on the Time Effectiveness of the Application of the Company Law of the People's Republic of China" (Fa Shi [2024] No. 7, hereinafter referred to as the "Provisions"), which was passed by the Judicial Committee of the Supreme People's Court at its 1922nd meeting on June 27, 2024 and will come into effect on July 1, 2024. While adhering to the principle of non retroactivity of the law, in order to better play the normative and guiding role of the Company Law in economic life, the Regulations differentiate between substantive modifications, new provisions, and specific detailed provisions based on the revision of the provisions of the Company Law, and list the specific provisions applicable retroactively. The full text consists of eight articles, including: general provisions and favorable retroactive rules on the time effect of Company Law, favorable retroactive rules on the effectiveness of civil legal acts, favorable retroactive rules on contract performance, blank retroactive rules in newly added provisions, detailed retroactive application rules in provisions, legal application of liquidation liability, res judicata superior to retroactive rules, and effective time. (Lai Xin She)
Edit：Liling Responsible editor：Chenjie
Source：http://rmfyb.chinacourt.org
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