What’s the impact the New Regulations on Recall of Defective Auto Products Works?
“Regulations on the Administration of Recall of Defective Auto Products” (“Regulations”) was promulgated on Oct. 10, 2012, and will come into force on Jan. 1, 2013. Being the new regulation which has a higher legislation hierarchy than “Provisions on the Administration of Recall of Defective Auto Products” (“Provisions”), it has stipulated new articles, such as the highest penalty is 10% of the value of defective auto products, the sharing system of auto-product information within multiple departments, the initiative investigation right of the national quality supervision department, which catch the eyes of public consumers. How does the New Regulations work? Will…