Circular 51/2021/TT-BTC guiding obligations in the foreign investment activities on securities market

CIRCULAR

Guiding obligations of organizations and individuals in the foreign investment activities on Vietnam securities market

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Pursuant to the Law on Securities dated November 26, 2019;

Pursuant to the Government’s Decree No. 155/2020/ND-CP dated December 31, 2020 on detailing and guiding the implementation of a number of articles of the Law on Securities;

Pursuant to the Government’s Decree No. 87/2017/ND-CP dated July 26, 2017, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

At the proposal of the Chairman of the State Securities Commission;

The Minister of Finance promulgates the Circular guiding obligations of organizations and individuals in the foreign investment activities on Vietnam’s securities market.

Article 1. Scope of regulation and subjects of application

1. This Circular guides the implementation of Clause 6, Article 138 of the Government’s Decree No. 155/2020/ND-CP dated December 31, 2020 detailing the implementation of a number of articles of the Law on Securities (hereinafter referred to as the Decree No. 155/2020/ND-CP) on obligations of foreign investors, organizations providing services to foreign investors and other relevant organizations and individuals in foreign investors’ investment activities on Vietnam’s securities market.

2. Subjects of application:

a) Foreign investors, group of affiliated foreign investors;     

b) Depository members, clearing members, securities companies, securities investment fund management companies, Vietnam-based branches of foreign fund management companies, organizations issuing depositary receipts in other countries, economic organizations of which over 50% of charter capital is held by foreign investors;

c) The Vietnam Securities Depository and Clearing Corporation, the Vietnam Stock Exchange and its subsidiary companies;

d) Other relevant agencies, organizations and individuals.

Article 2. Interpretation of terms

In this Circular, the terms below are construed as follows:

1. Valid copy means a copy issued from the master register or copy certified as true copy by a competent agency or organization, or copy proved to match its original after comparison.

2. Competent representatives of foreign organizations mean:

a) Chairperson of the Board of Directors, chairperson of the Members’ Council, Chief Executive Officers, corporate secretary or owner of the foreign organization;

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