Decision No. 40/2012/QD-TTg dated October 5, 2012 of the Prime Minister on the management of specimen money and souvenir money

THE PRIME MINISTER

Decision No. 40/2012/QD-TTg of October 5, 2012, on the management of specimen money and souvenir money

THE PRIME MINISTER

Pursuant to the December 25, 2001 Law on Organization of the Government;

Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;

At the proposal of the Governor of the State Bank of Vietnam,

The Prime Minister promulgates the Decision on the management of specimen money and souvenir money.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decision provides the designing, printing, minting, preservation, transportation, delivery and receipt, provision and sale of specimen money and souvenir money by the State Bank of Vietnam.

Article 2. Subjects of application

1. The State Bank of Vietnam (below referred to as the State Bank).

2. Credit institutions and foreign bank branches.

3. The State Treasury and other related agencies, organizations and individuals.

4. Money printing or minting establishments.

Article 3. Interpretation of terms

1. Specimen money means banknotes and coins issued by the State Bank up to technical and quality standards as types of money announced for circulation by the State Bank. Specimen money shall be used as standard model for comparison in the money issuance operation, for study, museum display, introduction, collection or souvenir purpose, and have no value of a payment instrument in circulation.

2. Souvenir money is a symbolic money having no value of a payment instrument, and issued for collection or souvenir purpose.

Chapter II

SPECIMEN MONEY

Article 4. Specimen money

1. Based on use purposes and needs, the State Bank Governor shall submit to the Prime Minister the quantity and types of specimen money which needs to be printed or minted.

2. The designing, printing and minting of specimen money comply with regulations on designing, printing and minting of money. A specimen banknote is printed with the phrase(s) “Tien mau” and/or “Specimen”; in addition to two symbolic serial number sequences (in the position prescribed for banknotes) consisting of 2 letters and some “0”s, its front side is additionally printed with a serial number sequence in the margin for management.

Article 5. Subjects to be provided with specimen money

Based on use purposes and needs and the quantity of printed or minted specimen money, the State Bank Governor may provide specimen money to:

1. Functional units of the State Bank.

2. Credit institutions, foreign bank branches and the State Treasury.

3. Units of ministries and sectors related to the counterfeit money prevention and combat.

4. Foreign organizations and individuals.

Article 6. Renewal of specimen money

Specimen money provided to the subjects specified in Clauses 1, 2 and 3, Article 5 of this Decision which are torn or damaged through use may be considered for renewal by the State Bank. The renewal of money must keep intact money denomination and type, and subject to no charge.

Article 7. Preservation, delivery, receipt and transportation of specimen money

1. The delivery, receipt, preservation and transportation of specimen money within the system of the State Bank, credit institutions and foreign bank branches comply with regulations on delivery, receipt, preservation and transportation of money.

2. If subjects to be provided with specimen money specified in Clauses 1, 2 and 3, Article 5 of this Decision lose their specimen money, they shall pay compensation, and additionally, persons who are assigned to preserve specimen money shall be disciplined or administratively sanctioned under regulations. The compensation level is equal to the denomination of lost specimen money. Later, the State Bank may consider providing new ones to such subjects.

Article 8. Recall of specimen money

The State Bank shall partially or wholly recall the provided specimen money amount in the following cases:

1. Within 30 days after the State Bank announces the Prime Minister’s decision on suspension of circulation of one or several types of money, the State Bank’s provincial-level branches shall recall the whole specimen money amount provided to credit institutions, foreign bank branches and State Treasury offices in their localities. The State Bank’s provincial-level branches and Transaction Bureau may keep a set of specimen money for use on the spot and shall remit the remainder into the central vault.

2. Other subjects to be provided with specimen money shall return their specimen money when requested in writing by the State Bank.

Chapter III

SOUVENIR MONEY

Article 9. Organization of designing, printing, minting and provision of souvenir money

1. The State Bank shall organize by itself or cooperate with domestic and overseas partners in the designing, printing and minting of souvenir money. These partners must be organizations operating in the field of money printing and minting; precious metal trading or working; souvenir money or other souvenir article trading.

2. For themes related to historical or political events or national important events, the State Bank shall propose to the Prime Minister for approval specimen designs in terms of theme, size, weight, image, pattern and other features, and souvenir money designing, printing and minting partners.

3. Upon issuing souvenir money, the State Bank shall announce in the mass media its policy to issue souvenir money.

4. The State Bank Governor shall consider the provision of souvenir money to domestic and overseas organizations and individuals.

Article 10. Preservation, delivery, receipt and transportation of souvenir money

The preservation, delivery, receipt and transportation of souvenir money by the State Bank comply with regulations on preservation, delivery, receipt and transportation of money.

Chapter IV

SALE OF SPECIMEN MONEY AND SOUVENIR MONEY

Article 11. Sale of specimen money and souvenir money

1. The State Bank shall organize the sale of souvenir money under contracts with domestic and overseas partners under in Clause 1, Article 9 of this Decision.

2. Based on use purposes and needs of organizations and individuals and the current quantity of specimen money and souvenir money, the State Bank Governor shall decide on the quantity of specimen money and souvenir money to be sold to organizations and individuals.

3. In each period, the State Bank Governor shall decide on the sale method and price of specimen money and souvenir money. The price of specimen money must not be lower than its denomination.

Article 12. Accounting of specimen money and souvenir money

1. The State Bank’s provincial-level branches and Transaction Bureau, credit institutions, foreign bank branches and the State Treasury shall conduct accounting of specimen money and souvenir money under the State Bank’s regulations.

2. Revenues and expenses in the management of specimen money and souvenir money shall be accounted as operational revenues and expenses of the State Bank.

Chapter V

IMPLEMENTATION PROVISIONS

Article 13. Implementation provisions

This Decision takes effect on December 12, 2012. All previous regulations which are contrary to this Decision are hereby annulled.

Article 14. Implementation responsibilities

Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees and related organizations, units and individuals shall implement this Decision.-

Prime Minister
NGUYEN TAN DUNG