Circular No. 30/2018/TT-NHNN of the State Bank of Vietnam on guiding the determination of state capital of equitized enterprises being credit institutions

CIRCULAR

Guiding the determination of state capital of equitized enterprises being credit institutions[1]

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

Pursuant to the November 26, 2014 Law on Management and Use of State Capital Invested in Production and Business at Enterprises;

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

Pursuant to the Government’s Decree No. 126/2017/ND-CP of November 16, 2017, on transformation of state enterprises and single-member limited liability companies with 100% state enterprise-invested charter capital into joint-stock companies;

At the proposal of the Director General of the Finance and Accounting Department;

The Governor of the State Bank of Vietnam promulgates the Circular guiding the determination of state capital of equitized enterprises being credit institutions.

Article 1.Scope of regulation and subjects of application

1. Scope of regulation

This Circular guides the determination of state capital of equitized enterprises being credit institutions prescribed at Point b, Clause 2, Article 31 of the Government’s Decree No. 126/2017/ND-CP of November 16, 2017, on transformation of state enterprises and single-member limited liability companies with 100% state enterprise-invested charter capital into joint-stock companies (below referred to as Decree No. 126/2017/ND-CP).

2. Subjects of application

a/ Equitized enterprises being credit institutions, including:

(i) Single-member limited liability companies with 100% state-owned charter capital prescribed in Clause 2, Article 2 of Decree No. 126/2017/ND-CP, which are credit institutions;

(ii) Single-member limited liability companies with 100% state enterprise-invested charter capital prescribed in Clause 3, Article 2 of Decree No. 126/2017/ND-CP, which are credit institutions;

b/ Owners’ representative agencies and agencies, organizations and individuals involved in the determination of state capital of equitized enterprises being credit institutions prescribed at Point a of this Clause.

Article 2.State capital

1. State capital of equitized enterprises being credit institutions is determined as the balance of the following accounts:

2. The account codes prescribed in Clause 1 of this Article are those prescribed in the accounting system of credit institutions promulgated together with the Governor of the State Bank of Vietnam’s Decision No. 479/2004/QD-NHNN of April 29, 2004, promulgating the accounting system of credit institutions, which is amended and supplemented under Decision No. 1146/2004/QD-NHNN of September 10, 2004, amending Article 2 of Decision No. 479/2004/QD-NHNN of April 29, 2004; the Governor of the State Bank of Vietnam’s Circular No. 10/2014/TT-NHNN of March 20, 2014, amending and supplementing a number of accounts of the accounting system of credit institutions promulgated together with Decision No. 479/2004/QD-NHNN of April 29, 2004; the Governor of State Bank of Vietnam’s Circular No. 49/2014/TT-NHNN of December 31, 2014, amending and supplementing a number of provisions of the financial reporting regime applicable to credit institutions promulgated together with Decision No. 16/2007/QD-NHNN of April 18, 2007, and the accounting system of credit institutions promulgated together with Decision No. 479/2004/QD-NHNN of April 29, 2004; and the Governor of the State Bank of Vietnam’s Circular No. 22/2017/TT-NHNN of December 29, 2017, amending and supplementing a number of articles of the accounting system of credit institutions promulgated together with Decision No. 479/2004/QD-NHNN of April 29, 2004, and the financial reporting regime applicable to credit institution promulgated together with Decision No. 16/2007/QD-NHNN of April 18, 2007.

3. The account balance (if any) of the Support Funds for Enterprise Reorganization at equitized enterprises being credit institutions is regarded as state capital and shall be settled according to Decree No. 126/2017/ND-CP.

Article 3.Implementation provisions

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

2. The Chief of the Office, Director General of the Finance and Accounting Department, Chief of the Banking Supervision Agency, and heads of units of the State Bank of Vietnam, and chairpersons of Members’ Councils, and general directors (directors) of credit institutions being single-member limited liability companies with 100% charter capital owned by the State or invested by state enterprises shall organize the implementation of this Circular.-

For the Governor of the State Bank of Vietnam
Deputy Governor
DAO MINH TU