深圳经济特区创业投资条例 Regulations of Shenzhen Special Eco_法律英语

深圳经济特区创业投资条例 Regulations of Shenzhen Special Eco

文章来源：文章作者：发布时间：2007-06-11 01:16 字体： [大中小]　进入论坛

(单词翻译:双击或拖选)

（Adopted at the Twenty-second Meeting of Standing¹ Committee of the Third Shenzhen Municipal People‘s Congress on February 21， 2003.）

颁布日期：20030227 　实施日期：20030401 　颁布单位：深圳市人大常委会

　　Chapter I General Provisions

　　Article 1 In order to encourage and standard activities of venture capital， safeguard legal rights and interests of parties to venture capital， taking into account of the specific conditions of Shenzhen Special Economic Zone （hereinafter referred to as “Special Zone”）， these regulations are hereby formulated² in accordance with basic principles of relevant laws of the state.

　　Article 2 These regulations shall be applicable to the establishment and activities of venture capital institutions and venture capital management institutions， and the supervision³ over those venture capital activities in the Special Zone.

　　Venture capital namely risk investment， herein it means those investment activities that mainly in purchasing stock right of non-listed technological⁴ venture capital enterprises and projects， and at the same time providing management services for them， with the purpose of seeking profits of capital increment⁵.

　　Venture capital institutions herein referred to those civil subjects which being registered according to these regulations and undertaking⁶ full time venture capital activities with their own assets.

　　Venture capital management institutions herein referred to those civil subjects which being registered according to these regulations and entrusted⁷ by those venture capital institutions to manage their investment business and to provide management services for the enterprises invested by them.

　　Article 3 Individuals and enterprises established under the rules other than these regulations may undertake venture capital activities according to law. Their legal rights and interests shall be protected by law.

　　Article 4 The words“venture capital”，“risk investment”or “VC”may be used in the names of venture capital institutions and venture capital management institutions， while they shall not be used in the names of other institutions.

　　Article 5 The Municipal Technology Administrative⁸ Authority （hereinafter referred to as the “Municipal Technology Administrative Authority”） shall fulfill⁹ the following obligations：

　　（1） Formulating¹⁰ relevant policies on encouragement and standardization¹¹ venture capital and putting them into force after being approved by the Municipal Government；

　　（2） Formulating and promulgating¹² Guidelines for Investing Venture Capital in Hi-tech Industries and Projects；

　　（3） Verifying and determining qualification of enjoying hortative¹³ and preferential policies for venture capital institutions； and

　　（4） Implementing¹⁵ direction and supervision over the activities of Venture Capital Association.

　　The Municipal Foreign Trade and Economic Cooperation Authority （hereinafter referred to as the “Municipal Foreign Trade and Economic Cooperation Authority”） shall be in charge of examination and approval of those applications filed by overseas investors¹⁷ for the establishment of solely¹⁸-owned or joint¹⁹ venture capital institutions or venture capital management institutions.

　　The Municipal Industrial and Commercial Authority （hereinafter referred to as the “Municipal Industrial and Commercial Authority”） shall be in charge of the registration²⁰ of and implement¹⁴ supervisions over venture capital institutions and venture capital management institutions.

　　Chapter II Establishment of Venture Capital Institutions

　　Section I Requirements for Establishment

　　Article 6 Venture capital institutions may be formed into companies of limited liability， joint-stock and limited partnership²¹.

　　Article 7 To apply for establishment of venture capital institution shall meet the following requirements：

　　（1） The investors have sound credit record， and the director and the administrative officers to be appointed have pledged to obey relevant trade criterions；

　　（2） Their main business is venture capital；

　　（3） Having specific business blueprint²² or investment strategy；

　　（4） The amount of registered capital or capital subscription²³ is no less than the minimum amount of capital required by these regulations；

　　（5） The investment management personnel equipped with specialty²⁴ qualification for venture capital； and

　　（6） Other requirements as stipulated²⁵ by laws and regulations.

　　Article 8 The registered capital shall not be less than RMB 50 million in case the venture capital institution is formed into a joint-stock company， while in the case of limited liability company， it shall not be less than RMB 30 million. In the case of limited partnership， the amount of capital subscription contributed by the limited partner shall not be less than 30 million.

　　Article 9 The requirements for overseas investors who apply for establishment of venture capital institution shall meet relevant rules of the state.

　　Article 10 In the case of establishing venture capital institution， the whole capital contributions shall be made in currency.

　　To apply for modification²⁶ of main business so as to become venture capital institution， the enterprise shall abide²⁷ by Article 8 of these regulations， while the total amount of capital in currency and net assets value of its stock rights in the technological venture capital enterprise at the time applying for modification shall not be less than 70% of the registered capital.

　　Section II Procedure for Establishment

　　Article 11 In the case that local investors apply for establishment of venture capital institution， the investors may directly apply for enterprises registration to the Municipal Industrial and Commercial Authority.

　　Article 12 In the case that overseas investors apply for establishment of solely-owned venture capital institution or joint venture capital institution， they shall apply for enterprises registration to the MICA²⁸ with approval of the Municipal Foreign Trade and Economic Cooperation Authority in advance.

　　Article 13 In the case that sino-foreign contractual joint ventures， sino-foreign cooperative joint ventures or solely foreign-funded enterprises apply for modification of main business so as to become venture capital institutions， they shall be approved by the original examination and approval authority and be registered of the modifications²⁹； while other enterprise may directly register the modifications with the Municipal Industrial and Commercial Authority.

　　In the case of increasing or decreasing registered capital， joining new investor¹⁶， transferring subscribed³⁰ capital between the original investors or to new investor after establishment of a venture capital institution， such modifications shall be reported to original examination and approval authority for approval and registration of corresponding modifications.

　　Article 14 In the case of establishing venture capital institutions by local and overseas investors， the capital subscription may be contributed within 3 years from the date registering of the establishment， but the amount of capital subscription contributed before registering of the establishment shall not be less than 25% of the registered capital.

　　Chapter III Establishment of Venture capital Management Institutions

　　Section I Requirement for Establishment

　　Article 15 Venture capital institutions may be formed into company of limited liability， joint-stock etc……

　　Article 16 To apply for establishment of a venture capital management institution shall meet the following requirements：

　　（1） The investors have sound credit record， while the director and the administrative officers to be appointed have pledged to obey relevant trade criterions；

　　（2） Their main business is to manage investment business for venture capital institutions via trust；

　　（3） Having sound institution framework and management scheme， while their investment management personnel equipped with specialty qualification for venture capital；

　　（4） The amount of registered capital or subscribed capital is no less than the minimum amount of capital required by these regulations； and

　　（5） Other requirements as stipulated by laws and regulations.

　　Article 17 To form venture capital institution into joint venture company， the company‘s registered capital shall be no less than RMB 10 million， while the registered capital shall be no less than RMB 1 million in the case of establishing limited liability company.

　　Section II Procedure for Establishment

　　Article 18 In the case that local investors apply for establishment of venture capital management institution， the investors may directly apply for enterprises registration to the Municipal Industrial and Commercial Authority.

　　Article 19 In the case that overseas investors apply for establishment of solely-owned venture capital management institution or jointly³¹ venture capital management institution， they shall apply for enterprises registration to the Municipal Industrial and Commercial Authority with the approval of the Municipal Foreign Trade and Economic Cooperation Authority in advance.

　　Article 20 In the case of increasing or decreasing registered capital， joining new investor， transferring subscribed capital between the original investors or to new investor after establishment of a venture capital institution， such modifications shall be reported to original examination and approval authority for approval and registration of corresponding modifications.

　　Article 21 The investors of venture capital management institution shall contribute their whole declared capital before registration of the establishment.

　　Chapter IV Business Scope and Rules for Management

　　Section I Rules for Venture Capital Institutions

　　Article 22 A venture capital institution may carry out the following business：

　　（1） Investing in technological or other venture capital enterprises and projects；

　　（2） Providing management services for venture capital enterprises invested in by it； and

　　（3） Other business as allowed by laws and regulations.

　　Article 23 A venture capital institution shall not practice the following activities：

　　（1） Engaging in those financial business such as absorbing deposits， providing loans， settling accounts， discounting bills， splitting and lending funds， trust investing， finance leasing and trading of foreign exchange or futures³²， etc.；

　　（2） Engaging in the business which may lead unlimited³³ liability to its assets；

　　（3） Purchasing listed stock， but it shall be otherwise in the case that the held stock of an enterprise to be listed and in the case of stock swap³⁴， stock allotment and sales， stock presentation， etc.； and

　　（4） Other business as prohibited by laws and regulations.

　　Article 24 The total amount of investment invested in an enterprise by a venture capital institution shall not exceed 20% of the registered capital of the institution without being adopted by investors representing at least two third of the voting rights.

　　Article 25 A venture capital institution may withdraw its investment through merging³⁵， stock rights repurchasing and stock listing， etc……

　　Article 26 A venture capital institution may retain professional personnel who equipped with specialty qualification for venture capital or trust venture capital management institutions to manage its investment business.

　　Article 27 A venture capital institution may trust commercial banks to be trustees of its venture capital.

　　The venture capital institution may trust the institution which approved by the Municipal Government to be trustee of its stock rights or stock of a venture capital enterprise.

　　Section II Rules for Venture Capital Management Institutions

　　Article 28 In the case that a venture capital institution trusts a venture capital management institution to manage its investment business， the two parties shall conclude a written contract of management by entrustment³⁶.

　　A contract of management by entrustment in generally includes the following clauses：

　　（1） The amount of venture capital for management by entrustment；

　　（2） The scope and restriction³⁷ of investment and standard for selecting investment projects；

　　（3） Procedure for making investment decisions；

　　（4） The list of middle and higher management who will undertake the obligation of management of investment；

　　（5） The content of management services to be provided to the invested enterprises；

　　（6） Calculation and payment of costs for administration and reward for achievement；

　　（7） Term and termination of management by entrustment；

　　（8） Liabilities for breach³⁸ of contract； and

　　（9） Manners for solution of disputes.

　　Article 29 The venture capital management institution carries out activities of risk investment in the name of the entrusting³⁹ institution as agreed in the contract of management by entrustment.

　　Article 30 In the case that a trustee venture capital management institution carries out investment activities with capital of the entrusting institution， the trustee shall use its own capital， which shall not be less than 1% of the amount of actual investment， for synchronization⁴⁰ investment， except otherwise agreed upon by the parties.

　　Synchronization investment shall abide by the principles of “buying and selling at the same time” and “same payment for same stock”。

　　Any venture capital management institution shall not carry out investment activities stipulated by Article 23 of these regulations and use its own capital to carry out investment activities other than synchronization investment.

　　Article 31 Before bringing forward advices for investment， a trustee venture capital management institution shall investigate the investment object prudently⁴¹ and completely disclose the investigation⁴² result to the entrusting institution.

　　In case that the venture capital management institution fails to disclose serious defect exists in the assets， debts or intellectual property right of the enterprise to be invested in due to willfulness or gross negligence⁴³， which results in investment loss to the entrusting institution， the trustee institution shall be liable for civil compensation according to law.

　　Article 32 In case that a trustee venture capital management institution and its employees have interest relationship with the object to be invested in， the institution shall completely disclose such interest relationship and accept inquiry⁴⁴ at the time providing investment advices for the entrusting institution.

　　Article 33 A trustee venture capital management institution shall completely disclose information on the implementation⁴⁵ of investment business to the entrusting institution in time and be liable for the authenticity⁴⁶， veracity⁴⁷ and integrality of the information disclosed by it.

　　Article 34 A venture capital management institution may be trusted to manage investment business of several venture capital institutions. The trustee institution shall equally provide investment advices and disclose information for all the entrusting institutions， except otherwise agreed upon by relevant parties.

　　Article 35 A trustee venture capital management institution shall not embezzle⁴⁸ entrusting venture capital or use the capital to provide a guaranty for itself or any third party， or deposit the capital into its own bank account.

　　Chapter V Encouragement and Preferential Policies

　　Article 36 The government shall encourage and support venture capital institutions to invest in those projects listed in the Guidelines for Investing Venture Capital in Hi-tech Industries and Projects， and provide policy direction and fund support according to need.

　　Article 37 The governmental subsidies⁴⁹ for trial-produce of new technological products， midway experiments and important scientific research projects shall be used in priority to support such projects of venture capital enterprises.

　　Article 38 A venture capital institution may use all of its capital to carry out investment.

　　Article 39 In case the amount of investment in a project listed in the Guidelines for Investing Venture Capital in Hi-tech Industries and Projects invested by a venture capital institution has exceeded its registered capital or 70% of the total amount of its capital subscription， and thereinto the investment in the original enterprise is not less than 30% of the total amount of investment， such institution can enjoy preferential policy for hi-tech enterprises.

　　The accumulative total investment as described in the aforesaid paragraph shall include the investment which had been withdrew from the invested enterprise and encashed in the past five years before the date of calculation； the calculation of amount of investment of a venture capital institution shall base on the actual amount at the time of investing.

　　Article 40 A venture capital institution may set aside 5% of its gross income of the current year for risk subsidy⁵⁰ fund to make up for the company's　losses　of　the　previous　year and current　year； The balance of the risk subsidy fund， which shall not exceed 10% of net assets value of the end of the current year， may be carried forward to next year.

　　Article 41 The proportion of capital subscription by a venture capital institution in an enterprise in hi-tech achievements shall not be limited， and the income distribution system that distributing on the basis of intellectual elements such as technology， share option and yearly pay scheme， etc. may be put into practice.

　　Chapter VI Supervision and Administration

　　Article 42 When implementing annual inspection⁵¹ over venture capital institutions or venture capital management institutions， the Municipal Industrial and Commercial Authority shall bring the information that whether the venture capital institutions or venture capital management institutions abide by relevant provisions of these regulations into the content for annual inspection， and report the result of the check or disposal result to the Municipal Technological Authority.

　　Article 43 In the case that the Municipal Industrial and Commercial Authority find the venture capital institutions or venture capital management institutions failing to conform with provisions of these regulations， the authority shall make the decision of disapproval⁵² of pass of annual inspection for those institutions.

　　Those venture capital institutions fail to pass the annual inspection shall be suspended of preferential policies arranged for them originally for one year， while in the same case those venture capital management institutions shall be suspended of being entrusted of new investment business for one year.

　　In the case that the Municipal Industrial and Commercial Authority find the venture capital institutions or venture capital management institutions failing to conform with provisions of these regulations for two continuous years， those institutions shall be ordered to modify their names according to the law， being prohibited to use the words “venture capital”，“risk investment”or“VC” in their names.

　　Article 44 Any one who uses the words “venture capital”，“risk investment”or“VC” in its name without authorization⁵³ and undertakes investment activities or investment management activities， it shall be punished by the Municipal Industrial and Commercial Authority according to relevant rules.

　　Article 45 In case any venture capital institution or venture capital management institution in violation⁵⁴ of these regulations， infringing⁵⁵ upon the legal rights and interests of the investors and consigners， the parties infringed⁵⁶ may complain to relevant government authority or directly bring a civil suit to the people‘s court.

　　Chapter VII Venture Capital Association

　　Article 46 The Venture Capital Association is a self-disciplined trade organization for venture capital institutions and venture capital management institutions.

　　Any venture capital institution and venture capital management institution which established in the Special Zone shall join the Venture Capital Association.

　　Article 47 The Venture Capital Association shall fulfill the following obligations：

　　（1） Formulating common pledge for venture capital industry and other criterion of conduct， fulfilling obligations stipulated by the common pledge and supervising its members to fulfill the common pledge and other criterion of conduct；

　　（2） Carrying on information service， boosting business affiliation⁵⁷ and cooperation， driving communication activities between local and overseas venture capital enterprises， and cultivating professionals for venture capital；

　　（3） Taking charge in the recognition and administration of specialty qualification of employees of venture capital institutions； and

　　（4） Undertaking relevant matters assigned by the government.

　　Chapter VIII Supplementary⁵⁸ Provisions

　　Article 48 In case the venture capital institutions or venture capital management institutions registered before the implementation of these regulations fail to meet the requirements for establishment stipulated by these regulations， those institutions shall meet such requirements within one year from the date these regulations take effect.

　　Article 49 In case relevant provisions are absent in these regulations， other laws， regulations and rules shall be applicable.

　　Article 50 These regulations shall take effect as of April 1， 2003

点击

收听单词发音

1 standing
n.持续，地位；adj.永久的，不动的，直立的，不流动的
参考例句：
After the earthquake only a few houses were left standing.地震过后只有几幢房屋还立着。 They're standing out against any change in the law.他们坚决反对对法律做任何修改。

2 formulated
v.构想出( formulate的过去式和过去分词 )；规划；确切地阐述；用公式表示
参考例句：
He claims that the writer never consciously formulated his own theoretical position. 他声称该作家从未有意识地阐明他自己的理论见解。来自《简明英汉词典》 This idea can be formulated in two different ways. 这个意思可以有两种说法。来自《现代汉英综合大词典》

3 supervision
n.监督，管理
参考例句：
The work was done under my supervision.这项工作是在我的监督之下完成的。 The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

4 technological
adj.技术的；工艺的
参考例句：
A successful company must keep up with the pace of technological change.一家成功的公司必须得跟上技术变革的步伐。 Today,the pace of life is increasing with technological advancements.当今，随着科技进步，生活节奏不断增快。

5 increment
n.增值，增价；提薪，增加工资
参考例句：
Each increment of knowledge tells us more of our world.知识的点滴增长都会增进我们对世界的认知。 She receives a salary increment each year.她每年得到加薪。

6 undertaking
n.保证，许诺，事业
参考例句：
He gave her an undertaking that he would pay the money back with in a year.他向她做了一年内还钱的保证。 He is too timid to venture upon an undertaking.他太胆小，不敢从事任何事业。

7 entrusted
v.委托，托付( entrust的过去式和过去分词 )
参考例句：
He entrusted the task to his nephew. 他把这任务托付给了他的侄儿。 She was entrusted with the direction of the project. 她受委托负责这项计划。来自《简明英汉词典》

8 administrative
adj.行政的，管理的
参考例句：
The administrative burden must be lifted from local government.必须解除地方政府的行政负担。 He regarded all these administrative details as beneath his notice.他认为行政管理上的这些琐事都不值一顾。

9 fulfill
vt.履行，实现，完成；满足，使满意
参考例句：
If you make a promise you should fulfill it.如果你许诺了，你就要履行你的诺言。 This company should be able to fulfill our requirements.这家公司应该能够满足我们的要求。

10 formulating
v.构想出( formulate的现在分词 )；规划；确切地阐述；用公式表示
参考例句：
At present, the Chinese government is formulating nationwide regulations on the control of such chemicals. 目前，中国政府正在制定全国性的易制毒化学品管理条例。来自汉英非文学 - 白皮书 Because of this, the U.S. has taken further steps in formulating the \"Magellan\" programme. 为此，美国又进一步制定了“麦哲伦”计划。来自百科语句

11 standardization
n.标准化
参考例句：
Standardization of counseling techniques is obviously impossible. 很清楚，要想使研讨方法标准化是不可能的。 In Britain, progress towards standardization was much slower. 在英国，向标准化进展要迟缓得多。

12 promulgating
v.宣扬（某事物）( promulgate的现在分词 )；传播；公布；颁布（法令、新法律等）
参考例句：
While they promulgating the Christianity, English was also publicized in China. 他们在传教的同时，英语也在中国得到了广泛的传播。来自互联网 It is a philosophy of life, promulgating numerous and complicated existence. “生活艺术论”是林语堂文化观、人生观和审美观的集中体现。来自互联网

13 hortative
adj.激励的
参考例句：
We set the hortative methods for teachers to praise teachers' performances.以制度化奖励措施重视教师表现，激励教师。 Once in a while only a hortative smile can encourage youeself to carry on.偶尔，只需要一个鼓励的微笑，就可以说服自己继续坚强下去。

14 implement
n.(pl.)工具，器具；vt.实行，实施，执行
参考例句：
Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。 The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

15 implementing
v.实现( implement的现在分词 )；执行；贯彻；使生效
参考例句：
-- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。来自汉英非文学 - 白皮书 He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。来自辞典例句

16 investor
n.投资者，投资人
参考例句：
My nephew is a cautious investor.我侄子是个小心谨慎的投资者。 The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

17 investors
n.投资者，出资者( investor的名词复数 )
参考例句：
a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子 a cash bonanza for investors 投资者的赚钱机会

18 solely
adv.仅仅，唯一地
参考例句：
Success should not be measured solely by educational achievement.成功与否不应只用学业成绩来衡量。 The town depends almost solely on the tourist trade.这座城市几乎完全靠旅游业维持。

19 joint
adj.联合的，共同的；n.关节，接合处；v.连接，贴合
参考例句：
I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。 We wrote a letter in joint names.我们联名写了封信。

20 registration
n.登记，注册，挂号
参考例句：
Marriage without registration is not recognized by law.法律不承认未登记的婚姻。 What's your registration number?你挂的是几号？

21 partnership
n.合作关系，伙伴关系
参考例句：
The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。 Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。

22 blueprint
n.蓝图，设计图，计划；vt.制成蓝图，计划
参考例句：
All the machine parts on a blueprint must answer each other.设计图上所有的机器部件都应互相配合。 The documents contain a blueprint for a nuclear device.文件内附有一张核装置的设计蓝图。

23 subscription
n.预订，预订费，亲笔签名，调配法，下标（处方）
参考例句：
We paid a subscription of 5 pounds yearly.我们按年度缴纳5英镑的订阅费。 Subscription selling bloomed splendidly.订阅销售量激增。

24 specialty
n.(speciality)特性，特质；专业，专长
参考例句：
Shell carvings are a specialty of the town.贝雕是该城的特产。 His specialty is English literature.他的专业是英国文学。

25 stipulated
vt.& vi.规定；约定adj.[法]合同规定的
参考例句：
A delivery date is stipulated in the contract. 合同中规定了交货日期。 Yes, I think that's what we stipulated. 对呀，我想那是我们所订定的。来自辞典例句

26 modification
n.修改，改进，缓和，减轻
参考例句：
The law,in its present form,is unjust;it needs modification.现行的法律是不公正的，它需要修改。 The design requires considerable modification.这个设计需要作大的修改。

27 abide
vi.遵守；坚持；vt.忍受
参考例句：
You must abide by the results of your mistakes.你必须承担你的错误所造成的后果。 If you join the club,you have to abide by its rules.如果你参加俱乐部，你就得遵守它的规章。

28 mica
n.云母
参考例句：
It could not pass through material impervious to water such as mica.它不能通过云母这样的不透水的物质。 Because of its layered structure,mica is fissile.因为是层状结构，云母很容易分成片。

29 modifications
n.缓和( modification的名词复数 )；限制；更改；改变
参考例句：
The engine was pulled apart for modifications and then reassembled. 发动机被拆开改型，然后再组装起来。来自《简明英汉词典》 The original plan had undergone fairly extensive modifications. 原计划已经作了相当大的修改。来自《简明英汉词典》

30 subscribed
v.捐助( subscribe的过去式和过去分词 )；签署，题词；订阅；同意
参考例句：
It is not a theory that is commonly subscribed to. 一般人并不赞成这个理论。来自《简明英汉词典》 I subscribed my name to the document. 我在文件上签了字。来自《简明英汉词典》

31 jointly
ad.联合地，共同地
参考例句：
Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。 She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。

32 futures
n.期货，期货交易
参考例句：
He continued his operations in cotton futures.他继续进行棉花期货交易。 Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

33 unlimited
adj.无限的，不受控制的，无条件的
参考例句：
They flew over the unlimited reaches of the Arctic.他们飞过了茫茫无边的北极上空。 There is no safety in unlimited technological hubris.在技术方面自以为是会很危险。

34 swap
n.交换；vt.交换，用...作交易
参考例句：
I will swap you my bicycle for your radio.我想拿我的自行车换你的收音机。 This comic was a swap that I got from Nick.这本漫画书是我从尼克那里换来的。

35 merging
合并（分类）
参考例句：
Many companies continued to grow by merging with or buying competing firms. 许多公司通过合并或收买竞争对手的公司而不断扩大。来自英汉非文学 - 政府文件 To sequence by repeated splitting and merging. 用反复分开和合并的方法进行的排序。

36 entrustment
[法]委托
参考例句：
The term of entrustment is divided into one-day five-day validity. 委托期限分为当日有效和五日有效。来自互联网 Chapter three discusses the bureaucratic group and the congressional entrustment of legislation. 第三章讨论官僚集团与国会立法权的委托。来自互联网

37 restriction
n.限制，约束
参考例句：
The park is open to the public without restriction.这个公园对公众开放，没有任何限制。 The 30 mph speed restriction applies in all built-up areas.每小时限速30英里适用于所有建筑物聚集区。

38 breach
n.违反，不履行；破裂；vt.冲破，攻破
参考例句：
We won't have any breach of discipline.我们不允许任何破坏纪律的现象。 He was sued for breach of contract.他因不履行合同而被起诉。

39 entrusting
v.委托，托付( entrust的现在分词 )
参考例句：
St. Clare had just been entrusting Tom with some money, and various commissions. 圣？克莱亚刚交给汤姆一笔钱，派他去办几件事情。来自辞典例句 The volume of business does not warrant entrusting you with exclusive agency at present. 已完成的营业额还不足以使我方目前委托你方独家代理。来自外贸英语口语25天快训

40 synchronization
n.同一时刻；同步；使时间互相一致；同时性
参考例句：
Communication record: the function supports synchronization record during the communication process. 通话录音：支持通话过程的同步录音。来自互联网 Synchronization is an important problem of digital audio watermarking. 同步性是数字音频水印的一个重要问题。来自互联网

41 prudently
adv. 谨慎地，慎重地
参考例句：
He prudently pursued his plan. 他谨慎地实行他那计划。 They had prudently withdrawn as soon as the van had got fairly under way. 他们在蓬车安全上路后立即谨慎地离去了。

42 investigation
n.调查，调查研究
参考例句：
In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。 He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

43 negligence
n.疏忽，玩忽，粗心大意
参考例句：
They charged him with negligence of duty.他们指责他玩忽职守。 The traffic accident was allegedly due to negligence.这次车祸据说是由于疏忽造成的。

44 inquiry
n.打听，询问，调查，查问
参考例句：
Many parents have been pressing for an inquiry into the problem.许多家长迫切要求调查这个问题。 The field of inquiry has narrowed down to five persons.调查的范围已经缩小到只剩5个人了。

45 implementation
n.实施，贯彻
参考例句：
Implementation of the program is now well underway.这一项目的实施现在行情看好。

46 authenticity
n.真实性
参考例句：
There has been some debate over the authenticity of his will. 对于他的遗嘱的真实性一直有争论。 The museum is seeking an expert opinion on the authenticity of the painting. 博物馆在请专家鉴定那幅画的真伪。

47 veracity
n.诚实
参考例句：
I can testify to this man's veracity and good character.我可以作证，此人诚实可靠品德良好。 There is no reason to doubt the veracity of the evidence.没有理由怀疑证据的真实性。

48 embezzle
vt.贪污，盗用；挪用(公款；公物等)
参考例句：
I suppose they embezzle a lot.我想他们贪污了不少。 The cashier embezzled $50,000 from the bank and ran away.银行的出纳盗用了五万美元，并且逃跑了。

49 subsidies
n.补贴，津贴，补助金( subsidy的名词复数 )
参考例句：
European agriculture ministers failed to break the deadlock over farm subsidies. 欧洲各国农业部长在农业补贴问题上未能打破僵局。 Agricultural subsidies absorb about half the EU's income. 农业补贴占去了欧盟收入的大约一半。来自《简明英汉词典》

50 subsidy
n.补助金，津贴
参考例句：
The university will receive a subsidy for research in artificial intelligence.那个大学将得到一笔人工智能研究的补助费。 The living subsidy for senior expert's family is included in the remuneration.报酬已包含高级专家家人的生活补贴。

51 inspection
n.检查，审查，检阅
参考例句：
On random inspection the meat was found to be bad.经抽查，发现肉变质了。 The soldiers lined up for their daily inspection by their officers.士兵们列队接受军官的日常检阅。

52 disapproval
n.反对，不赞成
参考例句：
The teacher made an outward show of disapproval.老师表面上表示不同意。 They shouted their disapproval.他们喊叫表示反对。

53 authorization
n.授权，委任状
参考例句：
Anglers are required to obtain prior authorization from the park keeper.垂钓者必须事先得到公园管理者的许可。 You cannot take a day off without authorization.未经批准你不得休假。

54 violation
n.违反(行为)，违背(行为)，侵犯
参考例句：
He roared that was a violation of the rules.他大声说，那是违反规则的。 He was fined 200 dollars for violation of traffic regulation.他因违反交通规则被罚款200美元。

55 infringing
v.违反（规章等）( infringe的现在分词 )；侵犯（某人的权利）；侵害（某人的自由、权益等）
参考例句：
The material can be copied without infringing copyright. 这份材料可以复制，不会侵犯版权。 The media is accused of infringing on people's privacy. 人们指责媒体侵犯了大家的隐私。来自《简明英汉词典》

56 infringed
v.违反（规章等）( infringe的过去式和过去分词 )；侵犯（某人的权利）；侵害（某人的自由、权益等）
参考例句：
Wherever the troops went, they never infringed on the people's interests. 大军过处，秋毫无犯。来自《现代汉英综合大词典》 He was arrested on a charge of having infringed the Election Law. 他因被指控触犯选举法而被拘捕。来自《现代汉英综合大词典》

57 affiliation
n.联系，联合
参考例句：
There is no affiliation between our organization and theirs,even though our names are similar.尽管两个组织的名称相似，但我们之间并没有关系。 The kidnappers had no affiliation with any militant group.这些绑架者与任何军事组织都没有紧密联系。

58 supplementary
adj.补充的，附加的
参考例句：
There is a supplementary water supply in case the rain supply fails.万一主水源断了，我们另外有供水的地方。 A supplementary volume has been published containing the index.附有索引的增补卷已经出版。

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