第三章 拍卖当事人Chapter III Parties Involved in Auction
第一节 拍卖人Section One Auctioneers
Article 10 An auctioneer is an enterprise legal person that has been established to engage in auction activity in accordance with this Law and the Corporate Law of the People's Republic of China.
Article 11 An auction enterprise may be set up in a city with districts.
The establishment of an auction enterprise is subject to the examination and approval by the department in charge of managing the auctioning industry as authorized by the people government of a province， an autonomous region and a municipality directly under the central government where it is located， and shall apply and register with the administrative department for industry and commerce receive a business license.
Article 12 Whoever establishes an auction enterprise shall meet the following requirements：
（1） Having a registered capital of at least one million Yuan；