Decree 24/2012/nd-Cp: On Gold Trading Operations Management

Original Language Title: Nghị định 24/2012/NĐ-CP: Về quản lý hoạt động kinh doanh vàng

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Pursuant to the law on organization of the Government of 25 December 2001;

Commercial Law bases the number 36/2005/QH11 on June 14, 2005;

Pursuant to the law of business on November 29, 2005;

Pursuant to the law the State Bank of Vietnam the number 46/2010/QH12 16 June 2010;

Pursuant to the law on credit institutions the number 47/2010/QH12 16 June 2010;

According to the proposal of the Governor of the State Bank of Vietnam;

The Government issued the Decree on gold trading operations management, chapter I GENERAL PROVISIONS article 1. Scope 1. This Decree regulates the gold trading activities, including: production and processing of gold jewelry, fine art; business buy, sell gold jewelry, fine art; business buy, sell gold pieces; export activities, importing gold and other gold trading activities, including gold trading operations on the accounts and operations of gold derivatives.

2. The provisions of this Decree shall not apply to mining and refining of gold gold mining business.

Article 2. The object of this Decree apply apply to organizations, individual gold trading activities on the territory of Vietnam and the agencies, organizations, and individuals that are related to business activities.

Article 3. Explanation of terms In this Decree, the terms below are interpreted as follows: 1. Gold Jewelry, fine art is the product of gold from Kara (33.33%) 8 over, through, manipulated to serve the needs of jewelry, decorative arts.

2. Gold is gold pieces are put into pieces, have close text, just the volume, quality and signed code of business and credit institutions are the State Bank of Vietnam (hereinafter called the Bank) allows the production or gold pieces by the State Bank of production organization in each period.

3. raw Gold is gold in the form of blocks, ingots, granules, pieces and other gold types.

4. gold trading operations on the account is active gold trading account, in the form of escrow transactions and net worth are revalued constantly according to gold price fluctuations.

Article 4. Management principles 1. Gold ownership of institutions, individuals are recognized and protected by the rule of law.

2. State Bank of India is the Agency on behalf of the Government of unified management of gold trading activities under the provisions of this Decree.

3. State monopolies produce gold pieces, gold exports raw materials and imports raw materials for gold production gold pieces.

4. active gold business management aimed at sustainable and stable development of the gold market, ensuring manufacturing operations, gold jewelry, fine art service for domestic and export markets under the provisions of the law.

5. organizations, individual gold trading operations must comply with the provisions of this Decree and the provisions of relevant laws.

6. Business activities buy, sell gold pieces; production of gold jewelry, fine art is conditional business activities and must be state-licensed bank business buy, sell gold pieces or qualified certificates produced gold jewelry, fine art.

7. Business activities buy, sell gold jewelry, fine art is conditional business activities not certification eligible business.

8. derivative activity of gold of the commercial banks, foreign bank branches made under article 105 of the law on credit institutions.

9. The other gold operations, except exportation, importation of gold, the gold sale, purchase raw materials of enterprises producing gold jewelry, fine art and business buy, sell gold jewelry, fine art and activities specified in clause 6, 7, 8, this is business activity in the list of goods limited business services. The Organization, individuals only made the other gold trading activities after the Prime Minister allowed the State Bank and are licensed.

Chapter II PRODUCTION, OUTSOURCING and BUY, SELL gold jewelry, HANDICRAFT article 5. Operational conditions produced gold jewelry, art 1. The enterprise produces gold jewelry, fine art State Bank certificate of the eligible production gold jewelry, fine art when it meets the following conditions: a) is established under the provisions of the law, has a registered producer of gold jewelry, fine art in business registration certificate.

b) have the location, the facilities and the equipment needed to serve for the production of gold jewelry, fine art.

2. State Bank of prescribed procedures and record the certificate of eligible production gold jewelry, fine art.

Article 6. The responsibility of the business functioning production gold jewelry, art 1. The closed sign code implementation and gold content on products, published standards, volume of the product under the provisions of the law and responsible to the law about the standards applied and the mass of the products announced by the producers.

2. Be responsible before the law about the standards applied and the mass of the product due to the rental business.

3. Observance of the provisions of the law on the accounting mode, set up and use invoices, vouchers.

4. Have guaranteed safety in production and business activities, environmental protection and prevention of fire and explosion.

5. Ensure the maintenance of the conditions stipulated in article 5 clause 1 of this Decree.

6. In compliance with the provisions of this Decree and the provisions of other relevant laws.

Article 7. Activities of gold jewelry, fine art to individuals, households, businesses and cooperatives made outsourcing for enterprises producing gold jewelry, fine art and must have registered the processing of gold jewelry, fine art registry certificate in business, business registration certificate or certificate of registration of business.

Article 8. Conditions of business activities buy, sell gold jewelry, fine art enterprise business buy, sell gold jewelry, fine art must meet the following conditions: 1. the Enterprise Is established under the provisions of the law, has a registered business buy, sell gold jewelry, fine art in business registration certificate.

2. Have the location, the facilities and the equipment required for service, sell gold jewelry, fine art.

Article 9. The responsibilities of the business buy, sell gold jewelry, art 1. Listed in the place of transaction volume, gold content, purchase price, selling price of the product type of gold jewelry, fine art and responsible before the law for the quality of the product sold.

2. Observance of the provisions of the law on the accounting mode, set up and use the vouchers Bill.

3. Compliance with the provisions of the law on metrology.

4. Take measures and equipment to ensure safe operations.

5. Compliance with the provisions of this Decree and the provisions of other relevant laws.

Chapter III OPERATION BUY, sell GOLD 10 PIECES. Active management of business buy, sell, purchase and sell gold gold pieces of the Organization, individuals are only done at credit institutions and enterprises are state-licensed bank business buy, sell gold pieces.

Article 11. Licensing conditions of business buy, sell gold pieces 1. Enterprises are State Bank of business licensing review buy, sell gold pieces when meet the following conditions: a) Is the business establishment and operation in accordance with the law.

b) Has registered capital from 100 billion or more.

c) Has operational experience in the field of business buy, sell gold from 2 (two) years.

d) Have already filed tax amount of gold trading operations from 500 (five hundred) million years in 2 (two) years in a row (certified by the tax authorities).

DD) has a network of branches, points of sales in Vietnam from 3 (three) provinces, central cities.

2. Credit institutions are State Bank of business licensing review buy, sell gold pieces when meet the following conditions: a) Has chartered capital from 3,000 (three thousand) billion.

b) Has registered the gold trading activities.

c) has a network of branches in Vietnam from 5 (five) provinces, central cities.

3. State Bank regulatory procedures and business licensing records buy, sell gold pieces for business, credit institutions.

Article 12. The responsibility of the business, the credit organization operations buy, sell gold pieces of businesses, institutions and business buy, sell gold pieces have the responsibility: 1. Are only allowed to buy, sell the kind of gold pieces prescribed in clause 2 of article 3 of this Decree.

2. Not allowed to perform the business gold pieces through commissioned agents.

3. Observance of the provisions of the law on the accounting mode, set up and use the vouchers Bill.

4. Listed in place of transaction on the purchase price and the sale price of gold pieces.

5. Take measures and equipment to ensure safe operations.

6. In compliance with the provisions of this Decree and the provisions of other relevant laws.

Chapter IV EXPORT ACTIVITIES, importing GOLD article 13. Export, import of gold jewelry, art 1. The export and import of gold jewelry, fine art is done by the business registration certificate or certificate of registration of business.

2. The export/import of gold jewelry, fine art to participate in the international fair exhibition, follow the Government's rules on fair, international exhibition.

Article 14. Export, import of raw gold 1. Based on the monetary policy objective and the type of gold in each period, the State Bank of organizations make the export of raw gold, gold imports raw materials to manufacture gold pieces, gold import license for enterprise material as defined in paragraphs 3, 4, 5 6 this and permit the export of raw materials for gold business for gold-mining license as specified in paragraph 7 of this Article.


2. export and import of raw gold State Bank was tax free export, import tax by decision of the Prime Minister.

3. State Bank considering licensing gold imports raw materials to produce gold jewelry, fine art for business are State Bank of qualified certificates produced gold jewelry, fine art.

4. The business outsourcing contract gold gold jewelry, fine art with foreign bank license to temporarily import raw gold to re-export the product.

5. Each year, the State Bank to consider licensing gold imports raw materials in planning for enterprises foreign investment based on the production capacity and to report the situation of exports of gold jewelry, fine art of the year before.

6. Enterprises investing abroad in the gold mining sector needs to import of gold by mining enterprises in foreign bank licensing review import raw gold.

7. Business for gold mining licenses are State Bank of export license review raw gold by mining enterprises.

8. The export and import of raw materials in the form of powder, gold, gold salts, welding scales and types of gold jewelry in the form of semi-finished products made under the business registration certificate or certificate of registration of business.

9. State Bank regulations, procedures and conditions for licensing the export profile, gold imports the raw materials prescribed in paragraphs 3, 4, 5, 6 and 7 of this Article.

Article 15. Bring gold when the exit and entry of individuals Who Vietnam and foreigners when the exit and entry through the international border gate of gold is carried under the provisions of the State Bank.

Chapter V GOVERNANCE for GOLD TRADING ACTIVITIES article 16. The responsibility of the State Bank of 1. The State Bank has the responsibility of construction, process of the authority issuing the strategies, plans for the development of gold markets and issued under the authority of the legal documents on management of gold trading activities under the provisions of this Decree.

2. State Bank added gold pieces on foreign reserves.

3. State Bank made to intervene, stabilize gold market through the following measures: a) the export and import of gold material as defined in article 14 paragraph 1 of this Decree.

b) organize and manage production of gold pieces through the decided limits, the time of production and implementation modalities produced gold pieces fit in each period. The cost of organizing the production of gold pieces are on the cost accounting activity of the State Bank.

c) make buy, sell gold pieces on the domestic market and the gold mobilization organization under the Prime Minister.

4. The State Bank issued, revoked: a) the certificate of eligible production gold jewelry, fine art.

b) business license buy, sell gold pieces.

c) export licence, import raw gold.

d) license to bring gold when the exit and entry of individuals exceeded regulations.

DD) license for the other gold trading activities after the Prime Minister allows.

5. State Bank of test execution, inspection for production of gold jewelry, fine art; business buy, sell gold pieces, gold jewelry, fine art; export activities, imports of raw gold and other gold operations.

6. the Bank performs the duties and authority related to the business activity management of gold according to the decision of the Prime Minister.

Article 17. The responsibility of ministries, ministerial agencies and people's committees of provinces and cities under central Government within the scope of the functions, duties and powers, the ministries, ministerial agencies, people's committees of provinces and cities under central Government has the responsibility to implement state management for gold trading operations such as the following : 1. Ministry of industry and trade is responsible for coordinating with relevant agencies perform management functions, test, inspection of production operations, gold jewelry, fine art; business buy, sell gold jewelry, fine art and the gold trading business executive, compliance with the provisions of the law.

2. Ministry of planning and investment has responsibility for the regulations and implementation guide are registered certification business for enterprise business and gold star sent a certificate of registration has been issued to the State Bank branch, central cities to coordinate implementation.

3. The Ministry of finance, in cooperation with the State Bank of the competent authority issued or issued under the authority of export tax policy, import tax value-added tax, gold, special consumption tax and income tax for gold trading activities fit in each period.

4. The Ministry of science and technology, in cooperation with the bodies responsible for implementing the quality standards issued for gold jewelry, fine art; test, inspection and quality assurance for gold jewelry, fine art in circulation on the market and control the means of measurement of gold trading businesses.

5. The Ministry of public security is responsible for coordinating with the ministries involved in the struggle, the investigation, handling of breaking the law on trading of gold within the functions, duties and powers under the provisions of the law.

6. the people's committees of provinces and cities under central Government within the scope of the mission, his powers make governance about the gold trading activities locally under the provisions of this Decree and the provisions of other relevant laws.

Article 18. Collaboration on the management of the gold trading activities based on actual requirements, the ministries concerned are responsible for coordination, information-sharing for the management of the business activities of gold; test coordination, Inspector gold trading activities under the provisions of the law.

Chapter VI VIOLATIONS of article 19. Violations in the gold trading activities violations of the rule of law in the gold trading activities include: 1. Production of gold jewelry, art does not have a certificate of eligibility by State Bank business.

2. Business activities buy, sell gold pieces; export, import of raw materials of gold without a licence issued by the State Bank.

3. Bring your gold when the exit and entry of individuals exceeded the regulations no licence issued by the State Bank.

4. Use gold as payment.

5. Operation gold pieces left to the provisions of this Decree.

6. other gold operations when not yet allow and Prime Bank license.

7. Violate the provisions in this Decree and the provisions of other relevant laws.

Chapter VII ENFORCEMENT PROVISIONS article 20. Reporting enterprises, institutions and operations of gold to make the report manufacturing activity situation of gold jewelry, fine art; the situation for buy, sell gold pieces; the situation for export and import of gold as stipulated by the State Bank and the competent authority.

Article 21. Transitional provisions 1. Within a period of 12 (twelve) months from the date of this Decree in effect enforced: a) The active organization of production of gold jewelry, fine art to make business with the business registration agency and complete certification for qualified production gold jewelry fine art, at the State Bank under the provisions of this Decree and the regulations of the relevant law.

b) organizations are active trading buy, sell gold jewelry, fine art to make business with the business registration agency.

2. State Bank of prescribed time limit, the transfer procedure for enterprises and credit institutions are trading buy, sell gold pieces.

3. The license to manufacture gold pieces by the State Bank issued expired from the date of the Decree has effect.

Article 22. Effective enforcement of this Decree has effect from the date of 25 may 2012 and replacing Decree No. 177/1999/ND-CP dated 9 December 1999 of the Government on the management of the gold trading activities and Decree No. 64/2003/ND-CP dated 11 June 2003 from the Government modified the supplements Decree No. 177/1999/ND-CP dated 9 December 1999.

Article 23. Responsibility 1. The Governor of the State Bank of Vietnam has the responsibility to guide and organize the implementation of this Decree.

2. Ministers, heads of ministerial agencies, heads of government agencies, the Chairman of the provincial people's Committee, central cities and other organizations and individuals concerned is responsible for the implementation of this Decree.