2010年注冊會計師《經(jīng)濟法》沖刺模擬試題(19)

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　　[答案] (1)東方公司的凈資產(chǎn)收益率符合有關(guān)發(fā)行可轉(zhuǎn)換公司債券的條件。根據(jù)有關(guān)規(guī)定，上市公司發(fā)行可轉(zhuǎn)換公司債券，最近3個會計年度加權(quán)平均凈資產(chǎn)收益率平均不低于6%。扣除非經(jīng)常性損益后的凈利潤與扣除前的凈利潤相比，以低者作為加權(quán)平均凈資產(chǎn)收益率的計算依據(jù)。東方公司最近3個會計年度以扣除非經(jīng)常性損益前后的凈利潤低者作為計算依據(jù)的加權(quán)平均凈資產(chǎn)收益率平均為6.83%，符合規(guī)定條件。參見教材P188。

　　The rate of return on net assets for Co. Dongfang meets the requirements to issue convertible corporate bonds. As per the regulations, when listed company is to issue convertible corporate bonds, the weighted average rate of return on net assets is not below 6% and the lower of net profit after or before deducted extraordinary profit and low is used to calculate the said rate. The public issuance of convertible corporate bonds as made by a listed company may not only meet the requirements as provided for in paragraph 1 herein but also meet the requirements of the present Law on public offer of stocks,

　　(2)①東方公司董事會擬訂的可轉(zhuǎn)換公司債券的期限符合有關(guān)規(guī)定。根據(jù)有關(guān)規(guī)定，可轉(zhuǎn)換公司債券的最短期限為1年，最長期限為6年，東方公司擬發(fā)行的可轉(zhuǎn)換公司債券的期限為4年，是符合規(guī)定的。

　　The terms of convertible corporate bonds stipulated by Board of Directors of Company Dongfang complies with the relevant regulations. As per regulations, the shortest term of convertible corporate bonds is one year, the longest term is six years. The term of convertible corporate bonds to be issued by Company Dongfang is four years and complies with the regulations

　�、跂|方公司董事會擬訂的可轉(zhuǎn)換公司債券轉(zhuǎn)為股票的期限符合有關(guān)規(guī)定。根據(jù)有關(guān)規(guī)定，可轉(zhuǎn)換公司債券自發(fā)行結(jié)束之日起6個月后方可轉(zhuǎn)換為公司股票。東方公司擬訂的轉(zhuǎn)換為公司股票的期限為9個月，是符合規(guī)定的。

　　參見教材P188。

　　The terms of convertible corporate bonds stipulated by Board of Directors of Company Dongfang complies with the relevant regulations. As per regulations, the convertible corporate bonds can be converted into shares after six months from the end of issuing such bonds

　　(3)①東方公司董事會擬訂的可轉(zhuǎn)換公司債券的轉(zhuǎn)股價格不符合有關(guān)規(guī)定。根據(jù)有關(guān)規(guī)定，轉(zhuǎn)股價格應(yīng)不低于募集說明書公告日前20個交易日該公司股票交易均價和前一交易日的均價。東方公司擬發(fā)行的可轉(zhuǎn)換公司債券的轉(zhuǎn)股價格低于募集說明書公告日前20個交易日該公司股票交易均價和前一交易日的均價，是不符合規(guī)定的。

　　The price of convertible corporation bonds stipulated by the Board of Directors of Company Dongfang does not comply with the relevant regulations. As per relevant regulations, the convertible price cannot be lower than the average price of 20 business days and the last business day before the prospectus announcing day. The price of convertible corporation bonds to be issued by Company Dongfang is lower than the average price of 20 business days and the last business day before the prospectus announcing day and this is not in line with the regulations

　�、跂|方公司董事會擬訂對轉(zhuǎn)股價格不作任何調(diào)整的說明不符合有關(guān)規(guī)定。根據(jù)有關(guān)規(guī)定，發(fā)行可轉(zhuǎn)換公司債券后，因配股、增發(fā)、送股、派息、分立及其他原因引起上市公司股份變動的，應(yīng)當(dāng)同時調(diào)整轉(zhuǎn)股價格。而東方公司對轉(zhuǎn)股價格不作任何調(diào)整的說明，是不符合規(guī)定的。參見教材P189。

　　Dongfang for the price of convertible corporation bonds not to be adjusted does not comply with the relevant regulations. As per the regulations, after issuing convertible corporation bonds, if the share capital has changed because of the right issue, new issue, bonus issue, dividend, split or any other reasons, the price should be adjusted accordingly. In this case it is not in line with the regulations for Company Dongfang not to adjust the said price accordingly

　　(4)北方鋼鐵股份有限公司為東方公司發(fā)行可轉(zhuǎn)換公司債券提供擔(dān)保是不符合規(guī)定的。根據(jù)規(guī)定，上市公司不得作為發(fā)行可轉(zhuǎn)債的擔(dān)保人，但上市商業(yè)銀行除外。北方鋼鐵股份有限公司為上市公司，其為發(fā)行可轉(zhuǎn)換公司債券提供擔(dān)保是不符合規(guī)定的。

　　參見教材P188。

　　It is not in line with the regulations that the North Steel Corporation provided guarantee for the Company Dongfang to issue the convertible corporation bonds. As per the regulations, the listed companies (except listed commercial banks) cannot act as guarantor for the issuance of convertible corporation bonds. North Steel Corporation, as list company, cannot provide guarantee for the issuance of convertible corporation bonds, otherwise, it is not in line with the relevant regulations. (ref to p188 of textbook)

　　(5)承銷商采取的具體包銷方法有不當(dāng)之處。根據(jù)規(guī)定，作為承銷商的證券公司在包銷期內(nèi)，對所包銷的證券應(yīng)當(dāng)保證先出售給認(rèn)購人，不得為本公司事先預(yù)留購入并留存所包銷的證券。參見教材P176。

　　It is improper. A securities company shall, within the term of sale by proxy or exclusive sale, guarantee the priority of the relevant subscribers in purchasing securities under sale by proxy or exclusive sale. A securities company may not reserve in advance any securities under sale by proxy thereby or purchase in advance and sustain any securities under exclusive sale thereby