The specific measures for the buying back by Investees of the equity held in them by Venture Investment Enterprises shall be formulated separately by the Examination and Approval Authority in conjunction with the Registration Authority. (来源：英语杂志 http://www.EnglishCN.com)
Article 35 Venture Investment Enterprises shall submit tax returns and pay tax according to the provisions of State tax law. In the case of a Non-legal Person Venture Investment Enterprise， investors may submit tax returns and pay enterprise income tax separately according to the relevant provisions of State tax law， or， the Non-legal Person Venture Investment Enterprise may submit an application and， upon approval， calculate and pay enterprise income tax jointly according to tax law.
The specific administrative procedures for levy and collection of enterprise income tax of Non-legal Person Venture Investment Enterprises shall be issued separately by the State Administration of Taxation.
Article 36 Where profits and other gains that the Foreign Investors of a Venture Investment Enterprise are entitled to receive have to be remitted abroad， the Venture Investment Enterprise shall remit the funds abroad by depositing them into its foreign exchange account or purchasing foreign exchange at designated foreign exchange banks on the strength of the distribution resolution of the management committee or the board of directors， the auditor's report issued by an accounting firm， proof of inflow of investment funds of Foreign Investors and capital contribution verification report， proof of tax payment and tax returns （if the enterprise is enjoying tax reduction or exemption， it shall provide certification of tax reduction and exemption issued by the tax authorities）。
The returned capital contribution to the Venture Investment Enterprise of the Foreign Investors may be remitted out of China by purchase of foreign exchange according to law. The opening and use of foreign exchange accounts， changes to capital and other matters regarding receipt and expenditure of foreign exchange of Corporate Venture Investment Enterprises shall be handled in accordance with existing provisions on foreign exchange control. Provisions on foreign exchange control concerning Non-legal Person Venture Investment Enterprises shall be formulated separately by the State Administration of Foreign Exchange.
Article 37 The investors shall stipulate the term of the Venture Investment Enterprise in the contract therefor and the articles of association thereof. In general， the term shall not exceed 12 years. The term may be renewed upon expiration， subject to the approval of the Examination and Approval Authority.
A Venture Investment Enterprise may be dissolved， and its contract and articles of association terminated， ahead of schedule， subject to the approval of the Examination and Approval Authority. However， if all of the investments of a Non-legal Person Venture Investment Enterprise have been sold or disposed of in other ways， its debts have been discharged and its remaining property has been distributed to investors， it may enter into dissolution and termination procedures without the afore-mentioned approval， but the Non-legal Person Venture Investment Enterprise shall， within at least 30 days before the dissolution becomes effective， submit a written statement to the Examination and Approval Authority for record filing.
When a Venture Investment Enterprise is dissolved， it shall be liquidated in accordance with the relevant provisions.
Article 38 A Venture Investment Enterprise shall， within 30 days of the date of completion of liquidation， apply to the original Registration Authority for de-registration.
When applying for de-registration， the Venture Investment Enterprise shall submit the following documents and be responsible for the authenticity and validity of such documents：
1. the application for de-registration signed by the chairman of the board of directors， the responsible person of the joint management committee or the responsible person of the liquidation committee；
2. the resolution of the board of directors or the joint management committee；
3. the liquidation report；
4. the proof of de-registration issued by taxation authority and customs；
5. the approval document or record filing document of the Examination and Approval Authority； and
6. other documents required to be submitted according to laws and administrative regulations.
After the Registration Authority has verified and approved de-registration， the Venture Investment Enterprise shall terminate.
The joint and several liability undertaken by the requisite investors of a Non-legal Person Venture Investment Enterprise shall not be exempted as a result of termination of the Non-legal Person Venture Investment Enterprise.
EXAMINATION AND OVERSIGHT
Article 39 Investments of Venture Investment Enterprises within China shall be handled by reference to the provisions of the Guiding the Direction of Foreign Investment Provisions and Foreign Investment Industrial Guidance Catalogue.
Article 40 Where a Venture Investment Enterprise invests in an Investee that falls in the encouraged and permitted categories， it shall file a record with the local authorized foreign trade and economic cooperation department of the place where the Investee is located. The local authorized foreign trade and economic cooperation department shall， within 15 days of the date of receipt of the materials for record filing， complete examination and verification procedures for record filing and issue a foreign-invested enterprise approval certificate to the Investee. The Investee shall handle registration procedures with the Registration Authority on the strength of the foreign-invested enterprise approval certificate. The Registration Authority shall decide on whether to approve the registration in accordance with the provisions of the relevant laws and administrative regulations. If it grants its approval to register， it will issue a foreign-invested enterprise legal person business licence.