Circular No. 96/2013/TT-BTC dated July 23, 2012 of the Ministry of Finance amending and supplementing the Circular No. 121/2011/TT-BTC dated August 17, 2011 of the Ministry of Finance guiding a number of articles of the Decision No. 315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot provision of agricultural insurance during 2011- 2013 and the Circular No. 101/2012/TT-BTC dated June 20, 2012 stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot provision of agricultural insurance during 2011- 2013

THE MINISTRY OF FINANCE

Circular No. 96/2013/TT-BTC dated July 23, 2012 of the Ministry of Finance amending and supplementing the Circular No. 121/2011/TT-BTC dated August 17, 2011 of the Ministry of Finance guiding a number of articles of the Decision No.315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot provision of agricultural insurance during 2011- 2013 and the Circular No. 101/2012/TT-BTC dated June 20, 2012 stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot provision of agricultural insurance during 2011- 2013

Pursuant to the Law on Insurance Business No. 24/2000/QH10 dated December 09, 2010 and the Law No. 61/2010/QH12 dated December 06, 2011 of the National Assembly amending and supplementing a number of articles of the Law on Insurance Business and other guiding documents;

Pursuant to the Government’s Decree No. 118/2008/ND-CP,datedNovember 27, 2008 defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Decision No. 315/QD-TTg, of March 01, 2011 of the Prime Minister on implementing the pilot provision of agricultural insurance during 2011- 2013;the Decision No. 358/QD-TTg dated February 27, 2011 of the Prime Minister on amending and supplementing some of articles of the Decision No. 315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot implementation of agricultural insurance during 2011- 2013;

At the proposal of the Director of the Insurance management and supervision Department;

The Minister of Finance promulgates the Circular amending and supplementing the Circular No. 121/2011/TT-BTC dated August 17, 2011 of the Ministry of Finance guiding a number of articles of the Decision No. 315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot provision of agricultural insurance during 2011- 2013 (hereinafter as the Circular No.121/2011/TT-BTC) and the Circular No. 101/2012/TT-BTC dated June 20, 2012 stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG dated March 01, 2011 of the Prime Minister on the pilot provision of agricultural insurance during 2011- 2013 (hereinafter as the Circular No. 101/2012/TT-BTC).

Article 1. To amend and supplement Point a, Clause 1, Article 11 of the Circular No.121/2011/TT-BTC as follows:

“a. For sale expense, management expense,insurance commission, support expense and remuneration for local authorities to implement pilot agricultural insurance, insurers may use no more than 35% of rice and livestock insurance premium revenues (including premium amount supported by the state budget and premium amount paid by the insurance buyer); For aquaculture insurance, insurers may use not exceeding 25% of aquaculture insurance premium revenues (including premium amount supported by the state budget and premium amount paid by the insurance buyer).”

Article 2. To amend and supplement Article 4 of the Circular No.101/2012/TT-BTCas follows:

“Article 4.Expenses of insurers:

1. For sale expense, management expense, insurance commission, support expense and remuneration for pilot agricultural insurance, insurers may use no more than 35% of rice and livestock insurance premium revenues as follows:

Insurance commission for insurance agents, support amount and remuneration for pilot agricultural insurance activities: Insurers may pay these amounts not exceeding 20% of rice and livestock insurance premium revenues.

In which, insurers may pay support amount and remuneration for the following:

- Support amount for operations of the steering committees at all levels in the localities where pilot agricultural insurance is implemented: meetings, public information and training for farmer households.

- Remuneration to staff directly engaged in pilot agricultural insurance at levels based on their efforts and collected insurance premiums.

Before deciding on specific support amounts and remuneration for operations and staff to suit local practical conditions, insurers shall seek opinions of heads of the steering committees for agricultural insurance in provinces and cities under Decision No. 315/QD-TTg.

2. For sale expense, management expense, insurance commission, support amount and remuneration for pilot aquaculture insurance activities, insurers may pay these amounts not exceeding 25% of aquaculture insurance premium revenues.

Based on the guidelines under Clause 1 of this Article, insurers shall adjust the expense level to be in accordance with the aquaculture insurance.

3. Sale expense and management expense for pilot agricultural insurance activities: Insurers may pay, account and allocate these expenses to their management expenses for pilot agricultural insurance and finalize not exceeding 15% of agricultural insurance premium revenues.”

Article 3. Effect

1. This Circular takes effect onthe signing date.

2. Any problems arising in the course of implementation should be promptly reported to the Ministry of Finance for consideration and guidance.

For the Minister

Deputy Minister

Tran Xuan Ha