Decree No. 222/2013/ND-CP dated December 31, 2013 of the Government on cash payment

DECREE

On cash payment[1]

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

Pursuant to the June 16, 2010 Law on the State Bank of Vietnam;

Pursuant to the June 16, 2010 Law on Credit Institutions;

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

The Government promulgates the Decree on cash payment.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree provides cash payment and state management of cash payment in a number of payment transactions in the Vietnamese territory.

Article 2. Subjects of application

This Decree applies to the State Bank of Vietnam (below referred to as the State Bank), credit institutions, foreign bank branches, state treasuries and organizations and individuals involved in cash payment.

Article 3. Interpretation of terms

In this Decree, the terms below are construed as follows:

1. Cash means banknotes and coins issued by the State Bank.

2. Cash payment means organizations and individuals using cash to make direct payment or perform other payment obligations in payment transactions.

3. Cash services are services provided by the State Bank, credit institutions, foreign bank branches and state treasuries to their customers in cash remittance and withdrawal or other cash-related services.

4. State budget-funded organizations are cost-estimating units, units using state budget funds, agencies or organizations receiving state budget support, state budget-funded project owners and management units.

5. Organizations using state capital are organizations using state-guaranteed credit capital, state development investment credit capital or state investment capital of other types.

Chapter II

CASH PAYMENT IN A NUMBER OF PAYMENT TRANSACTIONS

Article 4. State budget-funded organizations and organizations using state capital

1. State budget-funded organizations may not make cash payment in their transactions, except cases in which cash payment is permitted according to the Ministry of Finance’s regulations.

2. Organizations using state capital may not make cash payment in their transactions, except cases in which cash payment is permitted according to the State Bank’s regulations.

Article 5. Securities transactions

1. Organizations and individuals may not make cash payment in securities transactions on the Stock Exchanges.

2. Organizations and individuals may not make cash payment in transactions of securities registered or deposited in the Vietnam Securities Depository not via the Stock Exchanges’ trading systems.

Article 6. Enterprises’ financial transactions

1. Enterprises may not make cash payment in capital contribution transactions and in the purchase, sale and transfer of capital contributions in other enterprises.

2. Enterprises other than credit institutions may not make cash payment in mutual borrowing and lending activities.

Article 7. Loan disbursement

Credit institutions and foreign bank branches shall disburse loans provided to their customers in cash according to the State Bank’s regulations.

Article 8. Agreement on and registration of cash withdrawal needs

1. Credit institutions and foreign bank branches may make agreements with their customers on cash withdrawal plans and customers’ advance notification of withdrawal of a large amount of cash.

2. If wishing to withdraw cash from state treasuries, units having transactions with state treasuries shall make registration according to the Ministry of Finance’s regulations.

Article 9. Charges of cash services

1. The State Bank shall fix cash service charge rates applicable to its customers.

2. Credit institutions and foreign bank branches shall fix cash service charge rates applicable to their customers and post them up in accordance with law.

Chapter III

RESPONSIBILITIES OF STATE MANAGEMENT AGENCIES AND
RELATED PARTIES

Article 10. Responsibilities of the State Bank

1. To guide the implementation of Clause 2 of Article 4, Article 7 and Article 9, of this Decree.

2. To act as the focal point and coordinate with related ministries, sectors and agencies in guiding, supervising, urging and inspecting the implementation of this Decree; to send annual reports to the Prime Minister.

3. To act as the focal point and coordinate with the Ministry of Information and Communications in elaborating and implementing a public information plan to serve the implementation of this Decree.

Article 11. Responsibilities of the Ministry of Finance

To guide the implementation of Clause 1 of Article 4, Article 5, Article 6, and Clause 2 of Article 8, of this Decree.

Article 12. Responsibilities of related ministries and sectors and provincial-level People’s Committees

1. Related ministries and sectors and provincial-level People’s Committees shall, within the ambit of their functions and tasks, direct the dissemination of the provisions of this Decree to their attached organizations, individuals, agencies and units for observance.

2. Related ministries and sectors and provincial-level People’s Committees shall monitor, summarize and send annual reports on the implementation of this Decree in the fields under their management to the State Bank for summarization and reporting to the Prime Minister.

Chapter IV

IMPLEMENTATION PROVISIONS

Article 13. Effect

1. This Decree takes effect on March 1, 2014.

2. This Decree replaces the Government’s Decree No. 161/2006/ND-CP of December 28, 2006, providing cash payment.

Article 14. Implementation responsibility

The Governor of the State Bank, ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and related agencies, organizations and individuals shall implement this Decree.-

On behalf of the Government
Prime Minister
NGUYEN TAN DUNG