Securities Supervision Commission on the Management Measures for Shareholders of Listed Companies (exposure draft)

In any of the following circumstances, the controlling shareholder and actual controller of a listed company shall not reduce their holdings of the company's shares: (1) The listed company is suspected of securities and futures violations, during the period of investigation by the China Securities Supervision Commission or investigation by judicial organs, and less than 6 months after the administrative penalty decision or criminal judgment is made; (2) The listed company is publicly condemned by the stock exchange for less than 3 months; (3) The listed company may be involved in a major illegal forced delisting situation, within the time limit for the reduction of holdings stipulated by the stock exchange; (4) Other circumstances stipulated by the China Securities Supervision Commission.