Depositors on the occasions of （1） and （2） shall apply for the cancellation of bank settlement accounts to the banks that hold the accounts within five working days. (来源：EnglishCN.com)

　　“Cancellation” in this Article refers to an action by a depositor that leads to the termination of the use of bank settlement account because of problems with his/her qualification as account holder or other reasons.

　　Article 50 When a depositor cancels its basic depository account due to reasons outlined in Section （1）， （2） of Article 49 of these rules， the bank that holds its basic deposit account shall inform other banks that hold other bank settlement accounts of that depositor of the cancellation within two working days after the basic deposit account is cancelled. Banks that hold other bank settlement accounts of that depositor shall notify in writing the depositor to cancel relevant bank settlement accounts within two working days after being informed. The depositor shall cancel other bank settlement accounts within three working days after being informed.

　　Article 51 When a bank is aware that a depositor is in the situation described in Section （1）， （2） of Article 49 of these rules and is not able to complete the cancellation of bank settlement accounts within the time limit， the bank is entitled to stop the outward payment from its bank settlement accounts.

　　Article 52 An institution that is not approved by the administration of industry and commerce for its registration shall apply to the bank for cancellation of its temporary deposit account set for registration and examination of capital requirement compliance. The funds in this account shall be returned to the accounts from which those funds are originally disbursed. In the case the funds for registration and examination of capital requirement compliance is deposited in cash and the investor needs to withdraw the cash， original copy of the warrant of cash contribution and valid ID card of the investor shall be produced.

　　Article 53 A depositor that has not completely repaid its debt with the bank that holds its account is not allowed to cancel that account.

　　Article 54 When a depositor cancels its bank settlement account， it shall check with the account-holding bank the outstanding balance in it and return important blank checks and notes， settlement warrants and registration certificate of opening the account. The bank may only cancel that account after check-up and verification of these returned materials. If the depositor has not returned important blank checks and notes and settlement warrants， it shall produce relevant proof and bear all the losses if there is any.

　　Article 55 When a bank cancels a bank settlement account， it shall indicate the date of cancellation and stamp on the registration certificate of opening of that account， while at the same time report to the People's Bank of China with two working days after the cancellation of that bank settlement account.

　　Article 56 As to bank settlement accounts for institutions that are not involved in any payment or receipt activities in one year's time， the bank shall notify the institutions to cancel these accounts within 30 working days after the issuance of the cancellation notice. Once the time limit is reached， the bank will regard the depositor as voluntarily canceling the accounts and transfer the funds remaining to the special account for dormant funds.

　　Chapter V Management of Bank Settlement Accounts

　　Article 57 The People's Bank of China is responsible for supervision and examination of the opening and use of bank settlement accounts， as well as punishment of any violation of rules on management of bank settlement accounts by depositors or banks.

　　Article 58 The People's Bank of China is responsible for monitoring and regulating the opening and use of bank settlement accounts.

　　Article 59 The People's Bank of China is responsible for administration of the registration certificates of opening of basic deposit accounts， temporary deposit accounts and special deposit accounts for budget units.

　　No institutions or individuals shall be allowed to counterfeit， alter or privately print the registration certificates of opening accounts.

　　Article 60 Banks are responsible for management of bank settlement accounts opened and used in their operational branches， monitoring and examining compliance with these rules and punishing acts of violations in opening and use of bank settlement accounts.

　　Article 61 Banks shall establish an accountability system， which designates particular personnel to be in charge of monitoring the opening， use and cancellation of bank settlement accounts， and reviewing depositors' application documents for opening accounts. Banks shall also report on the timely basis the information on depositors' opening and cancellation of accounts according to these rules， establish and improve registration system for opening and cancellation of accounts， create archives for bank settlement accounts， which are to be administered as accounting files.

　　Files of bank settlement accounts shall be kept for 10 years after cancellation of such accounts.

　　Article 62 Banks shall carry out annual review of existing bank settlement accounts for institutions， examining the regulatory compliance of existing bank settlement accounts and verifying the authenticity of application documents for opening accounts. Bank settlement accounts that are opened in violation of these rules shall be canceled. Any confirmed changes of bank settlement accounts shall be reported on timely basis to local branch office（s） of the People's Bank of China.

　　Banks shall monitor use of bank settlement accounts and timely report any suspicious payment transactions in line with procedures prescribed by the People's Bank of China.

　　Article 63 Depositors shall reinforce their management of signatures and seals that are filed with banks. If an institution loses its stamp or special stamp for financial use， it shall produce relevant documents， including written application， registration certificate for opening account and its business license for replacing the lost stamp. When changing its stamp or special stamp for financial use， it shall produce documents such as written application and layout of the filed signature and seal. When an individual loses or changes his or her personal seal， or changes the signing person， he or she shall produce written application validated with signature， initially filed seal or ID card of the signing person. The bank shall keep the corresponding duplicates as a warrant to change the filed signature and seal.

　　Chapter VI Penalties Provisions

　　Article 64 In the event of opening or canceling a bank settlement account， a depositor is prohibited from the following activities：

　　（1） Opening a bank settlement account in violation of these rules.

　　（2） Forging or altering warrants to deceive the banks when opening the bank settlement account.

　　（3） Failing to cancel the bank settlement account as required by these rules.

　　A non-commercial depositor involved in any of the above mentioned activities shall be warned and fined RMB1000 yuan. A commercial depositor involved in any of the above mentioned activities shall be warned and fined between RMB10000 and 30000 yuan. If a crime is committed， the depositor shall be handed over to judicial authorities and be prosecuted according to the law.

　　Article 65 In the event of using bank settlement accounts， a depositor is prohibited from the following activities：

　　（1） Transferring the funds of an institution to a bank settlement account for individuals， which is against these rules.

　　（2） Withdrawing cash in violation of these rules.

　　（3） Evading or defaulting debt payment to banks through opening bank settlement accounts.

　　（4） Leasing or lending the bank settlement accounts.

　　（5） Depositing funds transferred from bank settlement accounts other than basic deposit accounts； depositing sales proceeds or cash in the enterprise banking card accounts.

　　（6） Failing to change the legal representative or head of the depositing institution， depositor's address or other information required for opening bank settlement account to banks within the required time limit.

　　A non-commercial depositor involved in （1）-（5） of the above mentioned activities shall be warned and fined RMB1000 yuan. A commercial depositor involved in （1）-（5） of the above mentioned activities shall be warned and fined between RMB5000 and 30000 yuan. A depositor involved in （6） of the above mentioned activities shall be warned and fined RMB1000 yuan.

　　Article 66 In the event of opening bank settlement accounts for depositors， following activities are prohibited for the banks：

　　（1） Opening multiple bank settlement accounts for depositors in violation of these rules.

　　（2） Allowing a depositor to open bank settlement account in the name of a natural person to deposit funds obviously belonging to an institution.