Circular No. 01/2019/TT-NHNN dated February 01, 2019 of the State Bank of Vietnam on amendments to the Circular No. 30/2015/TT-NHNN dated December 25, 2015 by the Governor of The State Bank of Vietnam on licensing, organization and operation of non-bank credit institutions

THE STATE BANK OF VIETNAM

CircularNo. 01/2019/TT-NHNN dated February 01, 2019 of the State Bank of Vietnamon amendments to the Circular No. 30/2015/TT-NHNN dated December 25, 2015 by the Governor of The State Bank of Vietnam on licensing, organization and operation of non-bank credit institutions

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on credits institutions dated June 16, 2010;

Pursuant to the Law on amendments to the Law on credit institutions dated November 20, 2017;

Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government’s Decree No. 39/2014/ND-CP dated May 07, 2014 on operations of financial companies and finance lease companies;

At the request of the Head of the Bank Supervision and Inspection Agency;

The Governor of the State Bank of Vietnam promulgates a Circular on amendments to the Circular No. 30/2015/TT-NHNN dated December 25, 2015 by the Governor of the State Bank of Vietnam on licensing, organization and operation of non-bank credit institutions.

Article 1. Amendments to the Circular No. 30/2015/TT-NHNN dated December 25, 2015 by the Governor of the State Bank of Vietnam (“SBV”)

1. To amendClause 14 Article 3 as follows:

“14.Lessee (including the seller of an asset that then leases that asset under a finance lease contract)refers to a legal entity or individual that operates in Vietnam and directly uses the leased asset to serve their operations.

When a household, artel or organization without a legal status wishes to enter into a finance lease contract, such finance lease contract must be concluded by its member or authorized representative.”.

2. To amendClause 17 Article 3 as follows:

“17.Operating lesseerefers to a legal entity or individual operating in Vietnam.

When a household, artel or organization without a legal status wishes to enter into an operating lease contract, such operating finance lease contract must be concluded by its member or authorized representative.”.

3. To amendPoint a Clause 4 Article 14 as follows:

“a) CV made using the form provided in the Appendix No. 02 enclosed herewith; Criminal records:

Regarding a Vietnamese national: The criminal record must be issued by the agency managing criminal record database and contain sufficient information about criminal records (including the criminal records that have been or not been expunged) and prohibition from holding certain positions, incorporation and management of enterprises and cooperatives;

Regarding a person who does not hold the Vietnamese nationality:  The criminal record or another document of equivalent validity (which contains sufficient information about criminal records, including the criminal records that have been or not been expunged, and prohibition from holding certain positions, incorporation and management of enterprises and cooperatives) must be issued by a Vietnamese competent authority or foreign competent authority as prescribed;

Such criminal record or another document of equivalent validity must be issued by a competent authority not more than 06 (six) months before the date the application for the license is submitted;".

4.Point b (ii) Clause 3 Article 15 is amended as follows:

“(ii) CV made using the form provided in the Appendix No. 02 enclosed herewith; The criminal record which is issued by the agency managing criminal record database and contains sufficient information about criminal records (including the criminal records that have been or not been expunged) and prohibition from holding certain positions, incorporation and management of enterprises and cooperatives;

Such criminal record must be issued by a competent authority not more than 06 (six) months before the date the application for the license is submitted;".

5. To amendPoint d (ii) Clause 3 Article 15 as follows:

“(ii) CV made using the form provided in the Appendix No. 02 enclosed herewith; The criminal record of the legal representative or the person who is authorized to represent the organization s capital contributed to the non-bank credit institution as regulated in Point a Clause 4 Article 14 hereof;”.

6. To amendPoint c Clause 3 Article 18 as follows:

“c) Amend its Charter in conformity with the modified license and submit the amended charter to SBV within 15 (fifteen) business days after the date it is approved.”.

7. To amendArticle 22 as follows:

“Article 22. Charter and amended charter

1.The Charter of a non-bank credit institution must include the primary contents prescribed in Clause 1 Article 31 of the Law on credit institutions and must be conformable with the Law on credit institutions and relevant laws.  The non-bank credit institution shall assume the full legal responsibility for its Charter and amendments to its Charter, if any.

2.After getting the license, the non-bank credit institution must submit its Charter to SBV within 15 (fifteen) business days from the date on which the Charter is approved by the General Meeting of Shareholders or the Board of Members.  If the Charter is amended, the non-bank credit institution must submit it to SBV within 15 (fifteen) business days from the date on which the amended charter is approved.”.

8. To amendPoint c Clause 5 Article 35 as follows:

“c) The rental rescheduling shall be performed prior to or within a period of 10 (ten) days from the agreed date on which the rental payment is due.”.

9.To add the phrase “cho vay tổ chức tín dụng, chi nhánh ngân hàng nước ngoài, tổ chức tài chính trong nước và nước ngoài theo quy định của pháp luật;” (“grant loans to credit institutions, branches of foreign banks, domestic and foreign financial institutions as regulated by law;”) to the end of Point a Clause 2 Article 4 of the Appendix No. 09A and to the end of Point a Clause 2 Article 4 of the Appendix No. 09C.

10.To add Point n to Clause 3 Article 4 of the Appendix No. 09A, To add Point m to Clause 3 Article 4 of the Appendix No. 09B, To add Point n to Clause 3 Article 4 of the Appendix No. 09c, and to add Point k to Clause 7 Article 4 of the Appendix No. 09D as follows:

 “Deposit money at and receive deposits from credit institutions, branches of foreign banks, domestic and foreign financial institutions in accordance with applicable laws.”.

Article 2. 

1.To change the phrase “Giấy chứng minh nhân dân” (“ID Card”) into “Giấy chứng minh nhân dân hoặc thẻ căn cước công dân” (“ID Card or Citizen’s identity card”) at Point c (vi) Clause 3 Article 15, Clause 1 Appendix No. 02, Clause 1 Appendix No. 04A of the Circular No. 30/2015/TT-NHNN.

2. To changethe phrase “số chứng minh nhân dân” (“Number of ID Card”) into “số chứng minh nhân dân hoặc số thẻ căn cước công dân” (“Number of ID Card or Citizen’s identity card”) at Clause 6 Appendix No. 01, Clause 1 Appendix No. 02, Appendix No. 03, Clause 1 Appendix No. 04A, Clause 2, Clause 3 Appendix No. 04B, Clause 1 – Guidelines for declaration using the form provided in Appendix No. 05, Clause 3 Appendix No. 06 of the Circular No. 30/2015/TT-NHNN.

3. To changethe phrase “Cục Thanh tra, giám sát ngân hàng” (“Bank Supervision and Inspection Office”) into “Cơ quan Thanh tra, giám sát ngân hàng (đối với địa bàn có Cục Thanh tra, giám sát ngân hàng)” (“Bank Supervision and Inspection Authority (for province where the Bank Supervision and Inspection Office is established)”) at Point a Clause 3 Article 10, Point d Clause 1 Article 41, Article 7 Appendix No. 09A, Article 7 Appendix No. 09B, Article 7 Appendix No. 09C, Article 7 Appendix No. 09D of the Circular No. 30/2015/TT-NHNN.

4.To remove the phrase “vốn ủy thác,” (“trust capital,”) at Point b Clause 4 Appendix No. 04A and Point b Clause 6 Appendix No. 04B of the Circular No. 30/2015/TT-NHNN.

5.To abrogate Point b (iv), Point d (iv) Clause 3 Article 15, Point d (i), Point dd (i) Clause 2 Article 19, Clause 1, Clause 4 Article 39, Article 40, Point c, Point g Clause 1 Article 41 of the Circular No. 30/2015/TT-NHNN.

Article 3. Responsibility for implementation 

The Chief of the Office, the Head of the Bank Supervision and Inspection Agency, heads of relevant entities affiliated to the SBV, Directors of the SBV’s branches in provinces or central-affiliated cities, Chairpersons of the Board of Directors, Chairpersons of the Board of Members, and General Directors (Directors) of non-bank credit institutions shall implement this Circular.

Article 4. Implementation provisions

1.This Circular takes effect on March 20, 2019.

2.This Circular nullifies Clause 9, Clause 10 Article 1 of the Circular No. 15/2016/TT-NHNN dated June 30, 2016 by the Governor of the State Bank of Vietnam./.

For the Governor

Deputy Governor

Doan Thai Son