Decision No. 37/2020/QD-TTg the establishment of the Vietnam Exchange
From February 20, the charter capital of the Vietnam Stock Exchange is VND 3,000 billion
On December 23, 2020, the Prime Minister issues the Decision No. 37/2020/QD-TTg on the establishment and charter of organization and operation of Vietnam Stock Exchange.
Specifically, the Vietnam Stock Exchange is a parent company organized under the model of a single-member limited liability company with 100% of charter capital held by the State; headquartered at Hanoi with international transaction name: Vietnam Exchange (VNX). Companies which 100% charter capital is held by the Vietnam Stock Exchange at the time of establishment include: Hanoi Stock Exchange, Ho Chi Minh City Stock Exchange.
This Decision takes effect on February 20, 2021.
For further details of the Decision 37/2020/QD-TTg, Click here
translation of the Official Gazette of the Vietnam News Agency
THE PRIME MINISTER
THE SOCIALIST REPUBLIC OF VIETNAM
Hanoi, December 23, 2020
On the establishment, organization and operation of the Vietnam Exchange
Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration;
Pursuant to the November 26, 2019 Law on Securities;
Pursuant to the June 17, 2020 Law on Enterprises;
Pursuant to the November 26, 2014 Law on Management and Use of State Capital Invested in Production and Business at Enterprises;
At the proposal of the Minister of Finance;
The Prime Minister promulgates the Decision on the establishment, organization and operation of the Vietnam Exchange.
Article 1. To establish the Vietnam Exchange after the model of parent company-subsidiary on the basis of reorganizing the Hanoi Stock Exchange and the Ho Chi Minh City Stock Exchange
1. The Vietnam Exchange is a parent company organized as a single-member limited liability company in which the State holds 100% of charter capital and which has the legal person status and its own seal; may open Vietnam-dong and foreign-currency accounts at the State Treasury office and domestic commercial banks; conducts independent accounting, complies with financial, statistical reporting, accounting and audit regimes, and performs financial obligations in accordance with law.
a/ International transaction name: Vietnam Exchange.
b/ Abbreviated name: VNX.
c/ Head office: Hanoi.
2. At the time of establishment, the Vietnam Exchange holds 100% of charter capital in:
a/ The Hanoi Stock Exchange (HNX).
b/ The Ho Chi Minh City Stock Exchange (HSX).
3. The Vietnam Exchange and its subsidiaries shall carry out enterprise registration in accordance with the Law on Enterprises.
Article 2. Functions and tasks
1. The Vietnam Exchange and its subsidiaries have the function of organizing the stock exchange market in accordance with the law on securities; and other functions in accordance with law and its organization and operation charter.
2. The Vietnam Exchange has the following major tasks:
a/ To formulate strategies, development investment plans, and five-year and annual production and business plans for submission to competent authorities for approval according to regulations;
b/ To formulate and promulgate regulations on securities listing, securities trading, information disclosure, membership of the Vietnam Exchange and other professional regulations related to organization and operation of the stock exchange market; to issue transaction supervision criteria; to issue transaction supervision reporting indicators applicable to members of the Vietnam Exchange after obtaining approval from the State Securities Commission of Vietnam;