VietnameseDecision No. 40/2007/QD-NHNN of November 02nd, 2007, on the issuance of regulation on the grant of establishment and operation licence to non-banking joint stock credit institution
ATTRIBUTE
Decision No. 40/2007/QD-NHNN of November 02nd, 2007, on the issuance of regulation on the grant of establishment and operation licence to non-banking joint stock credit institution
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 40/2007/QD-NHNN | Signer: | Tran Minh Tuan |
| 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: | 02/11/2007 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Enterprise , Finance - Banking |
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STATE BANK OF VIETNAM ---------------- No. 40/2007/QD-NHNN | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness ---------------------------- Hanoi, November 02nd, 2007 |
DECISION
ON THE ISSUANCE OF REGULATION ON THE GRANT OF ESTABLISHMENT AND OPERATION LICENCE TO NON-BANKING JOINT STOCK CREDIT INSTITUTION
GOVERNOR OF THE STATE BANK OF VIETNAM
- Pursuant to the Law on the State Bank of Vietnam in 1997 and the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam in 2003;
- Pursuant to the Law on Credit Institutions in 2007 and the Law on the amendment, supplement of several articles of the Law on Credit Institutions in 2004;
- Pursuant to the Law on Enterprises in 2005;
- Pursuant to the Decree No. 52/2003/ND-CP dated May 19th, 2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
- Pursuant to the Decree No. 79/2002/ND-CP dated 4 October 2002 of the Government on organization and operation of Finance Companies;
- Pursuant to the Decree No. 16/2001/ND-CP dated 2 May 2001 of the Government on organization and operation of Finance Leasing Companies;
- Pursuant to the Decree No. 65/2005/ND-CP dated 19 May 2005 of the Government on amendment, supplement of several articles of the Decree No. 16/2001/ND-CP dated 2 May 2001 of the Government on organization and operation of Finance Leasing Companies;
Upon the proposal of Director of Banks and Non-banking Credit Institutions Department,
DECIDES:
Article 1. To issue in conjunction with this Decision “the Regulation on the grant of establishment and operation Licence to non-banking joint stock credit institution”.
Article 2. This Decision shall be effective after 15 days since its publication on Official Gazette and replace the contents providing for the grant of Licence, form of charter capital contribution for non-banking joint stock credit institution as stipulated in the Circular No. 06/2006/TT-NHNN dated 23 December 2002 of the State Bank of Vietnam providing guidance on the implementation of the Decree No. 79/2002/ND-CP dated 4 October 2002 of the Government on organization and operation of Finance Companies; Circular No. 06/2005/TT-NHNN dated 12 October 2005 of the State Bank providing guidance on the implementation of the Decree No. 16/2001/ND-CP dated 2 May 2001 of the Government on organization and operation of Finance Leasing Companies; and the Decree No. 65/2005/ND-CP dated 19 May 2005 of the Government on amendment, supplement of several articles of the Decree No. 16/2001/ND-CP dated 2 May 2001 of the Government on organization and operation of Finance Leasing Companies;
Article 3. The Director of the Administrative Department, Director of Banks and Non-banking Credit Institutions Department, Head of units of the State Bank of Vietnam, General Manager of the State Bank branches in provinces, cities under the Central Government’s management; Chairman and members of the Board of Directors, Chief and members of Controllers Committee and General Director (Director) of non-banking joint stock credit institutions shall be responsible for the implementation of this Decision./.
FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM DEPUTY GOVERNOR Tran Minh Tuan |
REGULATION
on the grant of establishment and operation licence to non-banking joint stock credit institution
(Issued in conjunction with the Decision No. 40/2007/QD-NHNN dated 2 November 2007 of the Governor of the State Bank of Vietnam)
Chapter I
GENERAL PROVISIONS
Article 1. Governing scope
1. This regulation provides for the grant of establishment and operation Licence (hereinafter referred to as Licence) to joint stock finance companies, joint stock finance leasing companies (hereinafter referred to as non-banking joint stock credit institution)
Article 2. Subjects of application
1. Non-banking joint stock credit institutions;
2. Organizations, individuals related to the grant of Licence.
Article 3. Competence to grant the Licence
The Governor of the State Bank of Vietnam decides to grant Licence to a non-banking joint stock credit institution in accordance with provisions in this Regulation and other provisions of related laws on the basis of ensuring the prudence of Vietnam credit institutions system.
Article 4. Interpretation
In this Regulation, following terms shall be construed as follows:
1. Preparatory Committee for the establishment of non-banking joint stock credit institution (hereinafter referred to as Preparatory Committee) is an organization consisting of members elected by founding shareholders to, on their behalf, implement all works related to the application for Licence grant. The Preparatory Committee has at least 5 members, of which 01 member shall be the Committee’s Chief.
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