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Law On Application Of Legal Rules To Civil Relations Involving Foreign Party Enacted

01.12.10 23:58 Age: 8 yrs
Law On Application Of Legal Rules To Civil Relations Involving Foreign Party Enacted

The “Law of the People’s Republic of China on the Application of Law on Civil Relations Involving Foreign Interests” has been approved by voting and will be officially released with effect from 1 April 2011. The “Law on the Application of Law on Civil Relations Involving Foreign Interests” sets out provisions with respect to the application of law on real property rights and movable property rights. Real property rights apply to laws where the real property is located; as to movable property rights, the parties concerned may select the applicable laws by agreement under the law, or apply to the laws where the movable property is located when the legal facts occur if no party selects the applicable laws. In addition, it is provided in the law that the parties concerned may select the applicable laws if there is any change to the movable property rights in transit, or apply the laws of the destination of transit if no party selects the applicable laws. Under the law, securities apply to the laws where the rights in securities are realized or other laws that are closely related to such securities.

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