Legal Document Updates in English (41/2019)

BY 2030, 5G MOBILE NETWORK
SHALL COVER THE WHOLE COUNTRY

On September 27, 2019, the Central Committee issues the Resolution No. 52-NQ/TW on a number of guidelines and policies to actively participate in the Fourth Industrial Revolution.

Accordingly, the Central Committee requires ministries, agencies, branches and between the Central Government and the localities to active participation in the Fourth Industrial Revolution. This is an indispensable requirement and a urgent and long-term particularly important strategic task of both the political system and the entire society which shall be closely linked to the process of extensive international integration.

OVER VND 18,600 BILLION
 FOR INVEST TO DUNG QUAT I POWER PLANT

On October 25, 2019, the Prime Minister issues the Circular No. 1461/QD-TTg on approving investment policies for Dung Quat I Mixed Gas Turbine Power Plant Project.

Accordingly, the Government approves investment policies for the Dung Quat I Mixed Gas Turbine Power Plant Project with the total investment (preliminary) of VND 18,663.679 billion, including shared technical items in Dung Quat Power Plant Center. In which, ownership capital of EVN shall be 20% and the other 80% shall be commercial loan.

02 CASE OF
 POTENTIAL INSOLVENCY CREDIT INSTITUTIONS

The State Bank of Vietnam promulgates the Circular No. 11/2019/TT-NHNN on providing special control of credit institutions on August 02, 2019.

Accordingly, there are 02 case of potential insolvency credit institutions as follow:

to VAMC more than 10% right after 06 month when the capital adequacy ratio level 1 lower than 4%.

The second case is when credit institutions is unpayable when it unable to pay the debt within 03 month after the due date of the debt.

On the basis of realistic and risk level in operation of the credit institution, the Governor of the State Bank or the State Bank branch shall consider to put the credit institution under special control by special supervision or comprehensive control.

This Circular takes effect on October 01, 2019.

LIFE INSURANCE ENTERPRISES COMMITTING VIOLATIONS
ON MONEY LAUNDERING SHALL BE FINED UP TO VND 100 MILLIONS

On November 11, 2019, the Government issues the Decree No. 80/2019/ND-CP on amending and supplementing a number of articles of Decree No. 73/2016/ND-CP dated July 1, 2016 of the Government on details of implementation of the Law on Insurance Business and the Law on amendments to a number of articles of the Law on Insurance Business; Decree No. 98/2013/ND-CP dated August 28, 2013 of the Government on penalties for administrative violation in insurance business and lottery business that has been amended and supplemented a number of articles in Decree No. 48/2018/ND-CP  dated March 21, 2018 of the Government.

Accordingly, this Decree supplements one section on sanction for violations against regulations on prevention of money laundering and terrorism financing in life insurance business. To be specific, Life insurance enterprises committing violations on the regulations on identification and updating of client information shall be sanctioned as follows:

information such as information of clients open accounts or set up transactions with the financial organizations, clients who make infrequent transactions of high value or carry out the transaction of electronic money transfer but lack the information about the name, address, account number of the originator…

- A fine of from VND 40 million to 80 million  shall be imposed for enterprises fail to promulgate and complying with internal regulations on money laundering prevention; and failure in implementation of internal audit on money laundering prevention;

- A fine of from VND 50 million to VND 100 million shall be imposed for failure in promulgate regulations on of risk management procedures for transactions related to new technologies. In addition, failure on possessing a risk management system to identify foreign clients being individuals with political influence also be fined up to VND 100 million.

FROM 2020, NOT PRIORITIZE
TO REGISTER PREPAID MOBILE SUBSCRIBER IN COMMUNE POST OFFICE

This new content is prescribed in the Circular No. 11/2019/TT-BTTTT dated October 22, 2019 of the Ministry of Information and Communications on amending, supplementing, repealing a number of Article of the Circular No. 17/2013/TT-BTTTT dated August 02, 2013 on the operation of commune postal and cultural point.

Accordingly, staff in commune postal and cultural point shall work under labor contract, be entitled to remuneration and other policies in agreement between he/she and the enterprise that manages system of commune postal and cultural points in accordance with relevant law.

compliance with the Prime Minister’s Decision, commune postal and cultural point shall provide service of receiving dossiers, getting results of the settlement of administrative procedures via public postal service and other postal services.

This Circular also repeals Point b Clause 2 Article 3 which regulates: Commune postal and cultural point is the prior places to register information of prepaid mobile subscribers in accordance with provisions on prepaid mobile subscribers.

FROM JANUARY 01, 2020, INMATE CAN WORK OUTSIDE THE PRISON

The Law on Execution of Criminal Judgments contains 16 Chapters with 207 Articles, within that the high light provisions are on the management, incarceration, education of inmates. From 2020, shall supplement 02 subjects that are incarcerated separately, include: lesbian, gay or transgender persons or have unknown gender; female inmates having their children aged under 36 months living together with them in the prison.

As in the former Law on Execution of Criminal Judgments (2010), there are only 06 subjects that are held separately: Foreign inmates, persons infected with dangerous infectious diseases…

The Law on Execution of Criminal Judgments contains 16 Chapters with 207 Articles, within that the high light provisions are on the management, incarceration, education of inmates. From 2020, shall supplement 02 subjects that are incarcerated separately, include: lesbian, gay or transgender persons or have unknown gender; female inmates having their children aged under 36 months living together with them in the prison.

As in the former Law on Execution of Criminal Judgments (2010), there are only 06 subjects that are held separately: Foreign inmates, persons infected with dangerous infectious diseases…