"Investment is big and there are many risks. From the equipment quality and accident risk to the lessee's malicious debt arrears, which is not complete, it is possible to make a loss. We must know that an asphalt paver is worth millions." Lin Hai, an account manager at a construction equipment leasing company in Hebei, bluntly stated that it is not easy to rent.
Generally, in a finance lease transaction, the ownership of the equipment belongs to the lessor, and the possession and use rights belong to the lessee. This also means that the lessor as the owner loses the "control" of the equipment.
“At present, the registration of property rights for movable properties in the “Property Law†is still at the legal blank stage, and there is no requirement for where to register the property rights of movable property and how to register.†Professor Jiang Ping, a noted jurist, once pointed out that the development of the finance leasing industry urgently requires relevant laws. The perfection of the system.
On November 30, Tianjin issued the "Guiding Opinions" on disputes over the ownership of financial leases. Wang Lu, deputy director of the central bank credit reporting center, affirmed this, saying that this marked the first judicial breakthrough in the legal effect of lease registration in Tianjin.
On the basis of regulations on lease registration, the Tianjin People's Government and the Tianjin High Court jointly held a press conference on November 30th to release to the public the “Tianjin Higher People’s Court’s Guiding Opinions on the Dispute Case Concerning the Right to Leasing a Financial Leasehold (Trial)†"("Guidance Opinion").
According to a press release issued by the Tianjin High People’s Court to the China Times reporter, the “Guiding Opinion†clearly stated that the lessor engaged in financial leasing transactions should follow the “Notice on completing the registration and inquiry of financial leases†issued before. (hereinafter referred to as "notice"), the "Public Lending Center for Financial Leasing Registration Publicity System" of the People's Bank of China shall register the state of ownership of the financial lease property specified in the financial leasing contract, and publicize it. In the event of failure to register for publicity in accordance with the provisions of the preceding paragraph, the ownership of the leased property by the lessor shall not be opposed to third parties in good faith within the scope of the agency listed in the Circular.
The above "Notice" was jointly issued by the four departments of Tianjin on November 2. In addition to clarifying the registration obligations of financial leasing companies, the "Notice" also requires banks and non-bank financial institutions to handle asset mortgages, pledges, transfer, etc. When doing business, you should log in to the Center's financial leasing registration publicity system and inquire about the ownership status of the relevant subject matter.
It is reported that the "Guiding Opinions" are intended to cooperate with the implementation of the "Notice" from the legal point of view, and have made clear from the legal point of view whether the relevant agencies have not complied with the relevant provisions of the "Notice."
“This is a landmark event in the history of the development of the financial leasing industry. After all, legislation requires a long-term process. Under this circumstance, the issuance of the “Guidance Opinion†will guide the local judiciary system and promote the financial leasing registration system nationwide. The use of the system plays a positive role in demonstration," said Feng Hongru, deputy secretary-general of the China Banking Association.
The regulatory system is still missing On April 18, 1981, China Eastern Leasing Co., Ltd. took the first step in the financing leasing industry. In 1996, the Supreme People's Court promulgated the "Provisions on Certain Issues Concerning the Trial of Financial Lease Contract Disputes". This provision effectively protects the development of China's finance and leasing industry in a certain period of time by restricting the behavior of the lessee.
During the “11th Five-Year Plan†period, China’s financing leasing industry has continued to grow geometrically. According to the “China Lease Blue Book Leasing Industry Development Report for the First Half of 2011â€, the total business volume increased from about RMB 8 billion in 2006 to about 2010. 700 billion yuan, an increase of 86 times. In 2011, China's financial leasing continued its rapid development. As of the end of September this year, the entire asset scale of the nationwide leasing industry was about 800 billion yuan.
However, with the implementation of the Property Law of 2007, the provisions concerning the system of good faith acquisition and conflict resolution between mortgage and lease rights have caused the ownership of the lessor to be threatened. "Although the leasing industry has developed so fast, it can be said that it is moving forward in a streaking sprint, and each step is frightening."
“The “Property Law†focuses on real estate registration and lacks provisions on the registration system for leased property rights.†Jiang Ping pointed out that this is a congenital flaw and deficiency of the law. In order to solve the registration platform problem, on July 20, 2009, the financial lease registration system of the People's Bank of China Credit Information Center officially went live.
However, the problem is that the above system is used as a registration authority for the ownership of the leased property and has not yet been authorized by the law.
The "Guiding Opinions" issued by Tianjin undoubtedly made up for this gap, but it will still take a long time to promote it throughout the country.
Generally, in a finance lease transaction, the ownership of the equipment belongs to the lessor, and the possession and use rights belong to the lessee. This also means that the lessor as the owner loses the "control" of the equipment.
“At present, the registration of property rights for movable properties in the “Property Law†is still at the legal blank stage, and there is no requirement for where to register the property rights of movable property and how to register.†Professor Jiang Ping, a noted jurist, once pointed out that the development of the finance leasing industry urgently requires relevant laws. The perfection of the system.
On November 30, Tianjin issued the "Guiding Opinions" on disputes over the ownership of financial leases. Wang Lu, deputy director of the central bank credit reporting center, affirmed this, saying that this marked the first judicial breakthrough in the legal effect of lease registration in Tianjin.
On the basis of regulations on lease registration, the Tianjin People's Government and the Tianjin High Court jointly held a press conference on November 30th to release to the public the “Tianjin Higher People’s Court’s Guiding Opinions on the Dispute Case Concerning the Right to Leasing a Financial Leasehold (Trial)†"("Guidance Opinion").
According to a press release issued by the Tianjin High People’s Court to the China Times reporter, the “Guiding Opinion†clearly stated that the lessor engaged in financial leasing transactions should follow the “Notice on completing the registration and inquiry of financial leases†issued before. (hereinafter referred to as "notice"), the "Public Lending Center for Financial Leasing Registration Publicity System" of the People's Bank of China shall register the state of ownership of the financial lease property specified in the financial leasing contract, and publicize it. In the event of failure to register for publicity in accordance with the provisions of the preceding paragraph, the ownership of the leased property by the lessor shall not be opposed to third parties in good faith within the scope of the agency listed in the Circular.
The above "Notice" was jointly issued by the four departments of Tianjin on November 2. In addition to clarifying the registration obligations of financial leasing companies, the "Notice" also requires banks and non-bank financial institutions to handle asset mortgages, pledges, transfer, etc. When doing business, you should log in to the Center's financial leasing registration publicity system and inquire about the ownership status of the relevant subject matter.
It is reported that the "Guiding Opinions" are intended to cooperate with the implementation of the "Notice" from the legal point of view, and have made clear from the legal point of view whether the relevant agencies have not complied with the relevant provisions of the "Notice."
“This is a landmark event in the history of the development of the financial leasing industry. After all, legislation requires a long-term process. Under this circumstance, the issuance of the “Guidance Opinion†will guide the local judiciary system and promote the financial leasing registration system nationwide. The use of the system plays a positive role in demonstration," said Feng Hongru, deputy secretary-general of the China Banking Association.
The regulatory system is still missing On April 18, 1981, China Eastern Leasing Co., Ltd. took the first step in the financing leasing industry. In 1996, the Supreme People's Court promulgated the "Provisions on Certain Issues Concerning the Trial of Financial Lease Contract Disputes". This provision effectively protects the development of China's finance and leasing industry in a certain period of time by restricting the behavior of the lessee.
During the “11th Five-Year Plan†period, China’s financing leasing industry has continued to grow geometrically. According to the “China Lease Blue Book Leasing Industry Development Report for the First Half of 2011â€, the total business volume increased from about RMB 8 billion in 2006 to about 2010. 700 billion yuan, an increase of 86 times. In 2011, China's financial leasing continued its rapid development. As of the end of September this year, the entire asset scale of the nationwide leasing industry was about 800 billion yuan.
However, with the implementation of the Property Law of 2007, the provisions concerning the system of good faith acquisition and conflict resolution between mortgage and lease rights have caused the ownership of the lessor to be threatened. "Although the leasing industry has developed so fast, it can be said that it is moving forward in a streaking sprint, and each step is frightening."
“The “Property Law†focuses on real estate registration and lacks provisions on the registration system for leased property rights.†Jiang Ping pointed out that this is a congenital flaw and deficiency of the law. In order to solve the registration platform problem, on July 20, 2009, the financial lease registration system of the People's Bank of China Credit Information Center officially went live.
However, the problem is that the above system is used as a registration authority for the ownership of the leased property and has not yet been authorized by the law.
The "Guiding Opinions" issued by Tianjin undoubtedly made up for this gap, but it will still take a long time to promote it throughout the country.
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