VietnameseDecision No. 139/1999/QD-TTg dated June 10, 1999 of the Prime Minister on the rates of foreign parties’ participation in vietnam’s securities market
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Decision No. 139/1999/QD-TTg dated June 10, 1999 of the Prime Minister on the rates of foreign parties’ participation in vietnam’s securities market
| Issuing body: | Prime Minister | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 139/1999/QD-TTg | Signer: | Phan Van Khai |
| Type: | Decision | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 10/06/1999 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Securities |
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THE PRIME MINISTER OF GOVERNMENT ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness ---------- |
No: 139/1999/QD-TTg | Hanoi, June 10, 1999 |
DECISION
ON THE RATES OF FOREIGN PARTIES’ PARTICIPATION IN VIETNAM’S SECURITIES MARKET
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government of September 30, 1992;
Pursuant to Decree No. 48/1998/ND-CP of July 11, 1998 of the Government on Securities and Securities Market;
At the proposal of Chairman of State Securities Commission;
DECIDES
Article 1.- Foreign organizations and individuals may hold at most 20% of the total number of circulating shares of an issuing organization, and/or investment fund certificates of a securities investment fund, in which, a foreign organization may hold a maximum of 7% and a foreign individual may hold a maximum of 3%.
Article 2.- Foreign organizations and individuals may hold 40% of the total number of the circulating bonds of an issuing organization, in which, a foreign organization may hold 10% and foreign individual, 5% at most.
Article 3.- The maximum capital contribution proportion of the foreign parties to a joint-venture securities company is 30%.
Article 4.- This Decision takes effect 15 days after its signing.
Article 5.- Theministers, the heads of ministerial-level agencies, the heads of agencies attached to Government, the presidents of the People’s Committees of the provinces and centrally-run cities shall have to implement this Decision.
THE PRIME MINISTER OF GOVERNMENT Phan Van Khai |
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