Circular No. 03/2017/TT-NHNN dated June 6, 2017 of the Vietnam State Bank amending and supplementing a number of articles of the Circular No. 16/2012/TT-NHNN of May 25, 2012, guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities

THE STATE BANK OF VIETNAM

Circular No. 03/2017/TT-NHNN dated June 6, 2017 of the Vietnam State Bank amending and supplementing a number of articles of the Circular No. 16/2012/TT-NHNN of May 25, 2012, guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities

Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions;

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

Pursuant to the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities;

At the proposal of the director of the Foreign Exchange Management Department,

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Circular No. 16/2012/TT-NHNN of May 25, 2012, guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities.

Article 1. To amend and supplement a number of articles of the Circular No.16/2012/TT-NHNNas follows:

1. To amend and supplement a number of articles of the Circular No.16/2012/TT-NHNNas follows:

“Article8.Dossier of application for a certificate of eligibility for manufacture of gold jewelry and art crafts

1. An application for a certificate of eligibility for manufacture of gold jewelry and art crafts (made according to a set form under Appendix 1 of this Circular).

2. The enterprise registration certificate and papers indicating that the enterprise registers the business line of manufacturing gold jewelry and art crafts as stipulated.

3. The document or material proving the right to own or lawfully use the manufacturing place; a list of physical foundations and equipment for the manufacture of gold jewelry and art crafts.

2. To amend and supplement Article 9 as follows:

“Article 9. Dossier of application for a gold bar trading license

1. For an enterprise, a dossier of application for a gold bar trading license comprises:

a) An application for a gold bar trading license (made according to a set form as stipulated under Appendix 2 of this Circular);

b)List of business places registered as places selling and purchasing gold bar (head offices, branches, business places).

c) Operation registration certificates, Operation registration certificates of its branches and documents presenting business places of purchasing and selling gold bar according to the list under Point b of this Clause registered or notified to competent registration agencies as stipulated.

d) The tax office’s certification of the tax amounts paid for gold trading activities in 2 (two) latest consecutive years.

2. For a credit institution, a dossier of application for a gold bar trading license comprises:

a) An application for a gold bar trading license (made according to a set form);

b) List of business places registered as places of purchasing and selling gold bar (head offices, branches, and transaction offices).

c) Operation registration certificates, Operation registration certificates of its branches and documents presenting business places of purchasing and selling gold bar according to the list under Point b of this Clause registered or notified to competent registration agencies as stipulated.

3. To supplement Article 9a as follows:

“Article 9a.

1. If there is a change in the content about the enterprise in the business certificate of purchasing and selling gold bar, the dossier shall include:

a) Application on changing the content on enterprise information in the business certificate of purchasing and selling gold bar.

b) Business registration certificate.

2. If changing the name, address of business place purchasing and selling gold bar:

a)For the enterprise, the dossier includes:

(i)Application for changing the name, address of the business place (according to the Form under Appendix 3a of this Circular);

(ii)Operation registration certificates, Operation registration certificates of its branches and documents presenting business places of purchasing and selling gold bar according to the list under Point b of this Clause registered or notified to competent registration agencies as stipulated.

b)For credit institutions, the dossier includes:

(i)Application for changing the name, address of the business place (according to the Form under Appendix 3a of this Circular);

(ii)Operation registration certificates (if changing the head office), documents issued by credit institutions reporting on changing the name of the office (if changing the name of business place of selling and purchasing gold bar).

3. If supplementing the business place of purchasing and selling gold bar, the dossier includes:

a)Application on supplementing business places of selling and purchasing gold bar(according to the Form under Appendix 3b of this Circular);

b)Documents presenting business places registered or notified to competent registration agencies as stipulated.

4. If terminating operation of purchasing and selling gold bar in the business place that are licensed, the dossier includes application on terminating the purchase and sale of gold bar at the licensed business place, of which clearly mentions reasons.”

4. To amend and supplement Article19as follows:

“Article 19. Reporting responsibilities of provincial-level State Bank branches

1. Provincial-level State Bank branches shall submit quarterly and annual reports on management of gold business activities in their localities (made according to a set form) to the State Bank Governor.

2. Quarterly, provincial-level State Bank branches shall report to the Vietnam State Bank (Department of Foreign Exchange Management) on granting, revoking, adjusting the certificate of being eligible for manufacturinggold jewelry and art crafts in the previous quarter (according to the Form as stipulated under Appendix 12a of this Circular).

3.Quarterly, provincial-level State Bank branches shall report on purchasing gold material of enterprises in the previous quarter to market management department, tax management department for supervision and examination.

4. When granting a certificate of eligibility for manufacture of gold jewelry and art crafts, a license for temporary import of gold material for re-export of products to an enterprise, a provincial-level State Bank branch shall send 1 (one) copy to the State Bank (the Foreign Exchange Management Department).

5.The deadlines for submitting a report as stipulated under Clause 1, 2, 3 shall be as follows:

a)For the quarterly report: the20^thof the following month;

b) For the annual report: the20^thof January in the following year;

Article 2.

1.To annul Clause 3 Article10of the Circular No.16/2012/TT-NHNN;

2.To change the phrase “month…year…” into “quarter… year…” and change the phrase “monthly report” into ”quarterly report” under the Appendix12apromulgated together with the Circular No.16/2012/TT-NHNN.

3.To annul the phrase“- NHNN (Department of Foreign Exchange Management) (for report);”under “place of receipt” section under Appendix16, 20 và 21promulgated together with the Circular No.16/2012/TT-NHNN.

Article 3.Implementation responsibilities

The director of the Office, the director of the Foreign Exchange Management Department and heads of units of the State Bank; directors of provincial-level State Bank branches; chairpersons of boards of directors or member councils and directors general (directors) of credit institutions; enterprises engaged in gold business activities and other related organizations and persons shall implement this Circular.

Article 4.Implementation clauses

1.This Circular takes effect on July 22,2017.

2. This Circular annuls Clause 3, Clause5, Clause6and Clause19Article1and Appendix1a promulgated together with the Circular No.38/2015/TT-NHNNdated December 31,2015of the State Bank Governor amending and supplementing a number of articles of the Decree No.24/2012/ND-CPdated April 03,2012 on gold business activities.

For the Governor

Deputy Governor

Nguyen Thi Hong