VietnameseDecree No. 75/CP dated November 28, 1996 of the Government on establishing the State Stock Committee
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Decree No. 75/CP dated November 28, 1996 of the Government on establishing the State Stock Committee
| Issuing body: | Government | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 75/CP | Signer: | Vo Van Kiet |
| Type: | Decree | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 28/11/1996 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Organizational structure |
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THE GOVERNMENT ------ | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness ------- |
No. 75-CP | Hanoi , November 28, 1996 |
DECREE
ON ESTABLISHING THE STATE STOCK COMMITTEE
THE GOVERNMENT
Pursuant to the Law on Organization of the Government of September 30, 1992;
With a view to accelerating the formation and development of the stock market and the management of stock business in Vietnam;
At the proposals of the Chairman of the Commission on Preparation for the Organization of the Stock Market and the Minister-Chairman of the Government Commission on Organization and Personnel,
DECREES:
Article 1.- To establish the State Stock Committee as an agency attached to the Government performing the function of State organization and management over stocks and the stock market.
The State Stock Committee has the legal person status, a seal bearing the national emblem, its own account, its operating fund provided by the State budget. Its staff is on the State payroll.
The State Stock Committee is headquartered in Hanoi and has its representative office in Ho Chi Minh City.
Article 2.- The State Stock Committee has the following main tasks and powers:
1. To compile legal documents on stocks and the stock market and submit them to the competent level for consideration and decision, and to organize and guide the implementation of those documents.
2. To assume the main responsibility for coordinating with the concerned ministries and branches in organizing the establishment and development of the stock market in Vietnam.
3. To issue, suspend or withdraw operating licenses of stock-brokerage companies, stock consultancy companies, stock-investing funds, companies managing the stock-investing funds and units entitled to issue stocks for transaction on the stock market in accordance with the regulations of the Government.
4. To establish and manage the organizations servicing and supporting the operation of the stock market in accordance with the provisions of law.
5. To submit to the Prime Minister for decision the proposals on establishment, suspension of operation or dissolution of the Stock Exchange.
6. To check and supervise the operation of the Stock Exchange and the organizations involved in the issue and trading of stocks and stock brokerage.
7. To issue regulations on putting up notices and announcements on the issue and/or information on the stock exchange and trading; to consult the Ministry of Finance in determining the charges and/or fees related to the issue and trading of stocks.
8. To organize training courses to improve the professional skills of the officials for the management of the stocks, the stock market and for stock brokerage.
9. To cooperate with international organizations and foreign countries in stock exchange and the stock market under the regulations of the Government.
10. To assume the main responsibility for coordinating with the concerned agencies in applying necessary measures to ensure the effective and lawful operation of the stock market.
11. To manage the material bases and organizational structure, officials and employees of the Committee in accordance with the regulations of the Government.
12. To perform other tasks assigned by the Prime Minister.
Article 3.- The State Stock Committee has its Chairman, Vice Chairmen, and a number of members who are vice-ministers of Finance, Justice, Planning and Investment and a Deputy Governor of the State Bank.
The Chairman and the Vice Chairmen are appointed and dismissed by the Prime Minister, the members are nominated by the concerned ministries and the State Bank. The Minister-Chairman of the Government Commission on Organization and Personnel shall submit to the Prime Minister for decision the appointment and dismissal of the Chairman and the Vice-Chairmen and the list of the members of the State Stock Committee.
The Chairman of the Committee shall be responsible before the Prime Minister for the entire operation of the Committee. The duties of the Vice Chairmen and the members shall be assigned by the Chairman of the Committee.
Article 4.- The working apparatus of the State Stock Committee shall be composed of:
- The Department for Stock Market Development,
- The Department for Stock-Issuing Management,
- The Department for Stock-Trading Management,
- The Department for International Relations,
- The Department for Organization, Personnel and Training,
- The Inspectorate,
- The Office.
The tasks, powers and staff of the above-said units shall be decided by the Chairman of the State Stock Committee.
Article 5.- This Decree takes effect from the date of its signing.
Decision No.361-TTg of June 20, 1996 of the Prime Minister on the establishment of the Commission on Preparation for the Organization of the Stock Market is now annulled.
Article 6.- The Chairman of the State Stock Committee, the Ministers, the Heads of the ministerial-level agencies, the Heads of the agencies attached to the Government, the Presidents of the People�s Committees of the provinces and cities directly under the Central Government shall have to implement this Decree.
ON BEHALF OF THE GOVERNMENT PRIME MINISTER Vo Van Kiet |
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