THE MINISTRY OF FINANCE
________ No. 89/2020/TT-BTC | THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness _______________________ Hanoi, November 11, 2020 |
CIRCULAR
On amending and supplementing a number of articles of the Ministry of Finance’s Circular No. 50/2017/TT-BTC dated May 15, 2017 on guiding the Government’s Decree No. 73/2016/ND-CP dated July 01, 2016, detailing the implementation of the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business, the Ministry of Finance’s Circular No. 105/2016/TT-BTC dated June 29, 2016 guiding offshore indirect investment activities of securities trading institutions, securities investment funds, securities investment companies and insurance businesses, the Ministry of Finance’s Circular No. 195/2014/TT-BTC dated December 17, 2014 on guiding the assessment and classification of insurance businesses, the Ministry of Finance’s Circular No. 115/2014/TT-BTC dated August 20, 2014 on guiding the implementation of insurance policy specified in the Government’s Decree No. 67/2014/ND-CP dated July 07, 2014 on a number of fisheries development policies and repealing the Ministry of Finance’s Circular No. 116/2014/TT-BTC dated August 20, 2014 on guiding a number of financial issues for insurance businesses carrying out insurance activities under the Government’s Decree No. 67/2014/ND-CP dated July 07, 2014 on a number of fisheries development policies and the Ministry of Finance’s Circular No. 43/2016/TT-BTC dated March 03, 2016 on amending Article 5 of the Ministry of Finance’s Circular No. 116/2014/TT-BTC dated August 20, 2014 on guiding a number of financial issues for insurance businesses carrying out insurance activities under the Government’s Decree No. 67/2014/ND-CP dated July 07, 2014 on a number of fisheries development policies
____________
Pursuant to the Law on Insurance Business dated December 09, 2000;
Pursuant to the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business dated November 24, 2010;
Pursuant to the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business and the Law on Intellectual Property dated June 14, 2019;
Pursuant to the Government’s Decree No. 73/2016/ND-CP dated July 01, 2016, detailing the implementation of the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business;
Pursuant to the Government’s Decree No. 80/2019/ND-CP dated November 01, 2019, amending and supplementing a number of articles of the Government’s Decree No. 73/2016/ND-CP of July 01, 2016, detailing the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business, and the Government’s Decree No. 98/2013/ND-CP of August 28, 2013, on sanctioning of administrative violations in insurance business and lottery business, which had a number of articles amended and supplemented under the Government’s Decree No. 48/2018/ND-CP of March 21, 2018;
Pursuant to the Government's Decree No. 09/2019/ND-CP dated January 24, 2019, prescribing reporting regimes applicable to state administrative agencies;
Pursuant to the Government’s Decree No. 87/2017/ND-CP dated July 26, 2017, on defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
At proposal of the Director of the Insurance Supervisory Authority;
The Minister of Finance hereby promulgates the Circular on amending and supplementing a number of articles of the Ministry of Finance’s Circular No. 50/2017/TT-BTC dated May 15, 2017 on guiding the Government's Decree No. 73/2016/ND-CP dated July 01, 2016, detailing the implementation of the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business, the Ministry of Finance’s Circular No. 105/2016/TT-BTC dated June 29, 2016 guiding offshore indirect investment activities of securities trading institutions, securities investment funds, securities investment companies and insurance businesses, the Ministry of Finance’s Circular No. 195/2014/TT-BTC dated December 17, 2014 on guiding the assessment and classification of insurance businesses, the Ministry of Finance’s Circular No. 115/2014/TT-BTC dated August 20, 2014 on guiding the implementation of insurance policy specified in the Government’s Decree No. 67/2014/ND-CP dated July 07, 2014 on a number of fisheries development policies, repealing the Ministry of Finance’s Circular No. 116/2014/TT-BTC dated August 20, 2014 on guiding a number of financial issues for insurance businesses carrying out insurance activities under the Government’s Decree No. 67/2014/ND-CP dated July 07, 2014 on a number of fisheries development policies and the Ministry of Finance’s Circular No. 43/2016/TT-BTC dated March 03, 2016 on amending Article 5 of the Ministry of Finance’s Circular No. 116/2014/TT-BTC dated August 20, 2014 on guiding a number of financial issues for insurance businesses carrying out insurance activities under the Government’s Decree No. 67/2014/ND-CP dated July 07, 2014 on a number of fisheries development policies.
Article 1. To amend and supplement the Ministry of Finance’s Circular No. 50/2017/TT-BTC dated May 15, 2017 on guiding the Government's Decree No. 73/2016/ND-CP dated July 01, 2016, detailing the implementation of the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business:
1. To amend and supplement Article 1 as follows:
“Article 1. Scope of regulation
This Circular guides the implementation of the Government's Decree No. 73/2016/ND-CP dated July 01, 2016, detailing the implementation of the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business (hereinafter referred to as the Decree No. 73/2016/ND-CP) and the Government’s Decree No. 80/2019/ND-CP dated November 01, 2019, amending and supplementing a number of articles of the Government’s Decree No. 73/2016/ND-CP of July 01, 2016, detailing the Law on Insurance Business and the Law Amending and Supplementing a Number of Articles of the Law on Insurance Business, and the Government’s Decree No. 98/2013/ND-CP of August 28, 2013, on sanctioning of administrative violations in insurance business and lottery business, which had a number of articles amended and supplemented under the Government’s Decree No. 48/2018/ND-CP of March 21, 2018, including operations of insurance businesses, branches of foreign non-life insurance businesses; insurance brokerage businesses; insurance agents and training insurance agents; regimes of reporting and information disclosure of insurance businesses, branches of foreign non-life insurance businesses; insurance brokerage businesses, organizations and individuals providing insurance auxiliary service, representative offices and forms; establishment and operation of the Solvency Control Board”.
Click download to see the full text
Vietnamese
Circular 89/2020/TT-BTC DOC (Word)
Circular 89/2020/TT-BTC PDF (Original)
