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| NUMBER | TITLE |
| In This Updates: | |
FINANCE – BANKING |
| FINANCE – BANKING | |||
1 | Circular No. 04/2018/TT-NHNN dated March 12, 2018 of the State Bank of Vietnam on amending, supplementing a number of articles of the Circular No. 08/2017/TT-NHNN dated August 01, 2017 of the Governor of State Bank of Vietnam stipulating on orders, procedures of banking inspection |
| SBV must present on current situation on applying early intervention within 30 days | Page 2 | |
2 | Circular No. 126/2017/TT-BTC dated November 27, 2017 of he Ministry of Finance on the reporting and disclosure of information on public debts and national foreign debts |
| The Ministry of Finance shall disclose information on public debts every 06 months | Page 2 | |
TRANSPORT |
| TRANSPORT | |||
3 | Decree No. 16/2018/ND-CP dated February 02, 2018 of the Government on sea-lanes and traffic separation schemes in the territorial sea of Vietnam |
| Ships carrying radioactive substances allowed in the territorial sea of Vietnam | Page 2 | |
SECURITY |
| SECURITY | |||
4 | Decree No. 23/2018/ND-CP dated February 23, 2018 of the Government on compulsory fire and explosion insurance |
| Apartment buildings, hotels must buy compulsory fire and explosion insurance | Page 3 | |
INDUSTRY |
| INDUSTRY | |||
5 | Decision No. 49/2017/QD-TTg dated December 21, 2017 of the Prime Minister on removal of installations, equipment and facilities serving petroleum activities |
| Regulations on removal of petroleum activities | Page 3 | |
SUMMARY:
Ü FINANCE – BANKING
| ||
One of the Articles of the Circular No. 08/2017/TT-NHNN on orders, procedures of banking inspection are amended and supplemented on March 12, 2018 at the Circular No. 04/2018/TT-NHNN. Accordingly, apply early intervention is one of 04 remedial measures for banking supervision beside 03 other regulations, including recommendations and warnings; impose penalties for administrative violations; request a competent authority to take other remedial measures for banking supervision in accordance with regulations of law. Within 30 days since the receipt of documents on applying early intervention, subjects of banking inspection shall | report in writing to the State Bank to present on current situation, causes, remedial measures and implementation organization. The time for implementing remedial measures is no more than one year since the document on applying early intervention issued by the State Bank is received. Monthly or in urgent cases at the request of the banking supervision agency, subjects of banking supervision shall report on progress, results of implementing remedial measures. This Circular takes effect on July 01, 2018. | |
| ||
The Circular No. 126/2017/TT-BTC on the reporting and disclosure of information on public debts and national foreign debts is issued by the Ministry of Finance on November 27, 2017. In accordance with this Circular, the Ministry of Finance shall The Ministry of Finance shall disclose information on public debts and national foreign debts covering information on public debt and national foreign debt indicators; borrowing and repayment debts of the Government; borrowing and repayment of government-guaranteed debts; borrowing and repayment of domestic debts of local administrations; borrowing and repayment of national foreign debts. | Public debt bulletins shall public to-be-disclosed information every 06 months in Vietnamese and English. Provincial-level People’s Committees shall disclose information on the borrowing and repayment of local administration debts, including borrowing from the Vietnam Development Bank, advance from the State’s cash fund; issuance of local administration bonds; borrowing of on-lent foreign loans of the Government, and other borrowings of local administrations. This Circular takes effect on January 15, 2018 and applies to the making of annual reports of 2017. | |
Ü TRANSPORT
| ||
This is the information from the Decree No. 16/2018/ND-CP dated February 02, 2018 of the Government on sea-lanes and traffic separation schemes in the territorial sea of Vietnam. Accordingly, in the territorial sea of Vietnam, foreign nuclear-powered ships and ships carrying radioactive substances or other inherently dangerous or noxious substances shall carry technical documents related to the ship and cargo on board the ship, and documents concerning compulsory civil liability insurance; Implement decisions made by the competent authorities of Vietnam on application of special precautionary measures, including prohibition from passage through the territorial sea of | Vietnam or forced leaving from the territorial sea of Vietnam in case there are signs or clear evidence of possibility to cause leakage of hazardous substances or pollution of marine environment. Ships carrying cargoes, passengers and luggage or military ships and other ships operated for non-commercial purposes, that must pass through the territorial sea and internal waters of Vietnam in order to enter into seaports of Vietnam, are required to navigate according to designated lanes and carry out procedures for ships moving to ports. This Decree takes effect on April 01, 2018 and replaces the Decree No. 146/2013/ND-CP. | |
Ü SECURITY
| ||
On February 23, 2018, the Government issued Decree No. 23/2018/ND-CP on compulsory fire and explosion insurance. This Decree required facilities facing fire hazard such as apartment buildings, hotels, guest houses, hostels that have 5 floors or over; nursery schools, kindergartens which have 100 children or more; petroleum filling station has 1 pump or over… to purchase fire and explosion insurance. Insured property is the property of the insured facility, including: Houses, works and properties on houses and | works; machines, equipment; Goods and supplies. Insurance enterprises shall indemnify for any damage arises from fire and explosion risk with these property. Insurance enterprises shall not be liable to indemnify in the following cases: Earthquakes, volcanic eruptions or other convulsions of nature; Damage occasioned by unexpected political, security or social order and safety events; Damage occasioned by malicious act of the insured; Damage to data, software and computer programs… This Decree takes effect on April 15, 2018. | |
Ü INDUSTRY
| ||
On December 21, 2017, the Prime Minister issued the Decision No. 49/2017/QD-TTg on removal of installations, equipment and facilities serving petroleum activities. This Decision points out clearly that In the stage of oil and gas field prospecting and exploration, organizations and individuals are obliged to remove petroleum installations serving oil and gas prospecting and exploration activities when they are no longer needed or used for petroleum activities according to annual work programs and budget funds. Within 1 year from the time of exploiting the first oil and gas flow, organizations and individuals shall set up the financial obligation security fund for removal of petroleum | installations according to the approved plan on removal of petroleum installations. Organizations and individuals that currently exploit oil and gas but have not yet set up the financial obligation security fund for the removal of petroleum installations, they shall set up this fund immediately from February 12, 2018. However, In case the signed petroleum contracts contain specific agreements on the financial security obligation which are different from the provisions regarding the setting up of the financial obligation security fund for the removal of petroleum installations, such agreements shall prevail. This Decision takes effect on February 12, 2018. | |
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