Circular No. 22/2018/TT-NHNN dated September 05, 2018 of the State Bank of Vietnam on guidelines for procedures and application for approval for provisional lists of personnel of commercial banks, non-bank credit institutions and foreign banks branches

THE STATE BANK OF VIETNAM

Circular No. 22/2018/TT-NHNN dated September 05, 2018 of the State Bank of Vietnam on guidelines for procedures and application for approval for provisional lists of personnel of commercial banks, non-bank credit institutions and foreign banks branches

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

Pursuant to the Law on Credit Institutions dated June 16, 2010 and Law on amending a number of Articles of the Law on Credit Institutions dated November 20, 2017 (hereinafter referred to as “the Law on Credit Institutions);

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;

At the request of the Chief Inspector of the Central Banking Inspection and Supervision Authority;

The Governor of the State Bank of Vietnam hereby promulgates a Circular on guidelines for procedures and application for approval for provisional lists of personnel of commercial banks, non-bank credit institutions and foreign banks’ branches.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of adjustment

1. This Circular provides guidelines for procedures and application for approval for provisional lists of elected or appointed members of the Board of Directors, members of Board of Members, members of Board of Controllers or Director General (Director) (hereinafter referred to as “personnel”) in accordance with regulations of the Law on Credit Institutions with respect to commercial banks, non-bank credit institutions and foreign banks’ branches that have been issued with the license for establishment and operation by the State Bank of Vietnam (hereinafter referred to as “the State Bank”).

2. The approval for the provisional list of personnel of a state-owned commercial bank, and approval for the provisional list of personnel appointed or introduced by the owner of state capital as members of Board of Directors, members of Board of Controllers or Director General of a joint stock commercial bank over 50% of charter capital of which is held by the State shall comply with documents about human resource management promulgated by the Governor of the State Bank.

Article 2. Subjects of application

1. Commercial banks (except state-owned commercial banks), non-bank credit institutions (hereinafter referred to as “credit institutions”).

2. Foreign banks’ branches.

3. Organizations and individuals related to procedures and application for approval for provisional lists of personnel of credit institutions and foreign banks’ branches.

Article 3. Rules for preparing and submitting applications

1. An application for approval for provisional list of personnel of a credit institution or foreign bank’s branch shall be prepared according to the following rules:

a) It must be made in Vietnamese language. The document that is issued, notarized or certified by a foreign organization shall be consularly legalized as prescribed by Vietnam’s law (except for the cases in which consular legalization is exempted in accordance with regulations of law on consular legalization) and translated into Vietnamese;

b) Translations from a foreign language into Vietnamese must be notarized or bear the translator’s signature as prescribed by law;

c) Copies of documents of personnel to be elected or appointed must be copies from the master register or certified true copies as prescribed by law;

d) The documents prepared by personnel to be elected or appointed must bear signatures as prescribed by law.

2. The document of a credit institution or foreign bank’s branch requesting the State Bank to approve the list of its personnel must be signed by the legal representative or the authorized representative (hereinafter referred to as “the legal representative”).

In case the authorized representative appends his/her signature, the application must include a power of attorney made as prescribed by law.

3. The application enclosed with a list of documents prepared by the credit institution/foreign bank’s branch shall be submitted by post or directly to the State Bank.

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