VietnameseCircular No. 15/2016/TT-BTC dated January 20, 2016 of the Ministry of Finance on amending and supplementing several articles of the Circular No. 183/2011/TT-BTC dated December 16,2011 providing the guidance on the establishment and management of the open-ended fund
ATTRIBUTE
Circular No. 15/2016/TT-BTC dated January 20, 2016 of the Ministry of Finance on amending and supplementing several articles of the Circular No. 183/2011/TT-BTC dated December 16,2011 providing the guidance on the establishment and management of the open-ended fund
| Issuing body: | Ministry of Finance | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 15/2016/TT-BTC | Signer: | Tran Xuan Ha |
| Type: | Circular | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 20/01/2016 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking , Securities |
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THE MINISTRY OF FINANCE
Circular No. 15/2016/TT-BTC dated January 20, 2016 of the Ministry of Finance on amending and supplementing several articles of the Circular No. 183/2011/TT-BTC dated December 16,2011 providing the guidance on the establishment and management of the open-ended fund
Pursuant to the Law on Securities dated June 29, 2006;
Pursuant to the Law on the amendment and supplementation of a number of articles of the Law on Securities dated November 24, 2010;
Pursuant to the Government's Decree No. 58/2012/ND-CP dated July 20, 2012 on specifying and providing guidance on the implementation of a number of articles of the Law on Securities and the Law on amending and supplementing a number of articles of the Law on Securities;
Pursuant to the Government's Decree No. 60/2015/ND-CP dated June 26, 2015 on amending and supplementing a number of articles of the Government's Decree No. 58/2012/ND-CP dated July 20, 2012 on specifying and providing guidance on the implementation of a number of articles of the Law on Securities and the Law on amending and supplementing a number of articles of the Law on Securities;
Pursuant to the Government's Decree No. 215/2013/ND-CP dated December 23, 2013 on providing for the functions, tasks, powers and organizational structure of the Ministry of Finance;
After considering the request of the Chairman of State Securities Commission of Vietnam,
The Minister of Finance hereby introduces the Circular on amending and supplementing several articles of the Circular No. 183/2011/TT-BTC dated December 16, 2011 on providing guidance on establishment and management of the open-ended fund.
Article 1. To amend and supplement several articles of the Circular No. 183/2011/TT-BTC dated December 16, 2011 on providing guidance on establishment and management of the open-ended fund as follows:
1. To amend paragraph 3, 17, 25 and supplement paragraph 30 Article 2 as follows:
“3. Distributors are the organizations that trade in securities, depository banks, commercial banks, insurers and other economic organizations that have registered the distribution of open-ended fund certificates.
17. Bond funds are the open-ended funds that invest in various kinds of treasury bills, bonds and other fixed-income instruments with the proportion of investment in such assets that makes up at least eighty percents (80%) of the net asset value.
25. The time of closing the order book is the deadline for distributors to receive trading orders from investors that shall be executed on the trading day. The time of closing the order book shall be specified in the Fund Charter and publicly announced in the Prospectus or Simplified Prospectus which is not allowed to exceed the time of closing the securities market of the Stock Exchange on the latest day before the fund certificate trading day.
30. Index funds are open-ended funds investing in stock portfolios as the basis for constituting the market index in which the market index is constructed, managed and conforms to laws and regulations on the exchange-traded fund."
2. Supplementing Article 4 with paragraph 8 as follows:
“8. In the absence of any additional contents or information in the dossier of registration for the subsequent offering of fund certificates, fund management companies shall not be obliged to provide written evidence that supervisory banks, service providers concerned or fund managers have met stipulated conditions which has already been submitted in the dossier of registration for the previous offerings of fund certificates. Where new funds that are planning offerings share the same fund charter and prospectus, fund management companies shall not be required to submit these documents in the dossier of registration for offering of new fund certificates.”
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