Circular 24/2011/tt-Nhnn: Execute The Plan To Simplify The Administrative Procedures Established Field And Banking Operations Under The Government's Resolution On The Simplification Of Administrative Procedures In ...

Original Language Title: Thông tư 24/2011/TT-NHNN: Thực thi phương án đơn giản hóa thủ tục hành chính lĩnh vực thành lập và hoạt động ngân hàng theo các Nghị quyết của Chính phủ về đơn giản hóa thủ tục hành chính thuộc...

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
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;

Pursuant to Decree No. 96/2008/ND-CP on August 26, 2008 Government's functions, tasks, powers and structure of the State Bank of Vietnam;

Pursuant resolution No. 60/NQ-CP on December 17, 2010 by the Government on the simplification of administrative procedures in the scope of the management function of the State Bank of Vietnam;

Pursuant resolution No. 25/NQ-CP on 02 June 2010 of the Government about whether to simplify 258 administrative procedures within the Department's management functions, sectors;

The State Bank of Vietnam (hereinafter referred to as the Bank) modify, Supplement, replace or repeal, cancel the provisions in the text released by the State Bank to execute plans to simplify administrative procedures and field activities of the Bank are as follows : article 1. Modifying, supplementing a number of articles in circular No. 03/2009/TT-NHNN dated Jan. 26, 2010 by State Bank regulations about licensing of establishment and operation of commercial bank shares to exercise options that simplify stated at paragraph 23 and 24 account section III of part A of resolution 60/NQ-CP DATED as follows : 1. Amending and supplementing article 15 paragraph 1: "1. Establishment as defined in article 6 circular No. 09/2010/TT-NHNN into 8 sets (which has 2 main Ministry) sent by mail or submitted directly at the Headquarters State Bank (banking supervision, inspection) to recommend approval of principles established in the Bank; 1 sent by post or submitted directly at the provincial people's Committee, the city (where the expected bank headquartered) to recommend approval of the headquarters of the Bank in the area ".

2. Modify, Supplement b item 2 article 15: "b) establishment as defined in article 7 circular No. 09/2010/TT-NHNN into 2 main kit sent by post or submitted directly at Bank headquarters (inspection bodies, the banking surveillance);"

3. Adjust "maximum duration of 90 days" in point d of paragraph 2 article 15 "the time limit for a maximum of 60 days".

4. Amendments, supplements paragraph 3 Article 18: "3. Do clue records appraisal and licenses: a) within 2 working days from the date of the application, the Agency inspection, monitoring the Bank have written verification of catalog records.

b) for the record suggest that approved the principle of establishing the Bank:-a maximum period Of 60 days from the date of the approval profile guidelines, inspection agency, monitoring the Bank has sent a text confirmation Preparatory Committee received full valid records. Profile case approved the principle of incomplete according to the regulations, the State Bank has submitted documents requested additional Preparatory Committee, complete records as prescribed.

-Within a maximum of 90 days from the date of application specified in article 6 of this circular, inspection agency, responsible for banking supervision: + Have suggested writing included evaluation of records sent to the members of the Board review assessment. Proposed text stating the evaluation results evaluation and proposed perspectives on the licensing;

+ There's written request to convene Preparatory Committee presented the related issue of the establishment of the Bank as specified in paragraph 6 article 15 of this circular;

+ Profile assessment, General comments of the members of the Board evaluation and reporting process of the newspaper editor, suggested the President authority to convene a meeting of the assessment Board members to review the suggested profile approved the principle of establishing the Bank;

Base + minutes of Board meetings, the Chairman of the appraisal to the Governor of the State Bank: (i) Have accepted the principle of establishing the Bank if eligible under the provisions of this circular; or (ii) that the text has not yet approved the principle of establishing the Bank and require additional treatment transition Committee records or explain the issues involved in the profile is not yet clear; or (iii) writing to not approve the principle established in the Bank if the record does not satisfy in full the conditions as specified in circular No. 03/2009/TT-NHNN.

c) for the record: the licensing proposal within a maximum of 30 days from the date of the application under the regulations, inspection agency, responsible for bank supervision evaluation record and the Chairman of the appraisal to the State Bank Governor:-signed a licensing decision Charter registration confirmation, organization and functioning; or-have text not yet approved license and additional Preparatory Committee request records or explain the issues involved in the profile is not yet clear; or-there is no approved text license, if not satisfy in full the conditions as prescribed in this circular. "

Article 2. Modification, addition, removal of some articles in the regulation on the establishment and operation of companies affiliated to the remittance Trade Bank shares by the State and the people attached to decision No. 951/2003/QĐ-NHNN dated Jan. 18, 2003 by Governor of the State Bank to enforce the simplified approach referred to in paragraph 27 of part A of section III of resolution 60/NQ-CP as follows: 1. the abolition of clause 5, clause 6 and clause 8 article 4.

2. Amendments, supplements article 5 paragraph 1: "1. Joint stock commercial bank company remittances directly set 1 record as defined in article 4 of this regulation send directly or by post to the State Bank (banking supervision, inspectors). "

3. Abolition of clause 2 article 5 and article 13 paragraph 1 point a.

Article 3. Modification, addition, removal of some articles in the temporary regulations on the joint stock commercial bank listing and registration issued stock to the public attached to decision No 787/2004/QĐ-NHNN dated Jan. 24, 2004 by Governor of the State Bank to enforce the simplified approach stated at paragraph 34 35 section III, Part A of resolution 60/NQ-CP DATED as follows: 1. Modify, Supplement 5 to enforce simplified approach stated at paragraph 34 of resolution 60/NQ-CP: "article 5.

1. joint stock commercial banks established 11 of Ministry records as defined in article 4 of this regulation sent by post or submitted in person at the State Bank (banking supervision, inspection) to be considered, solved.

2. within 20 working days from the date of the application under the regulations, the State Bank review and approval or dispatch have not approved the joint stock commercial bank listed registered shares on the stock market. "

2. Annuls Article 12.

3. Amendments, supplements article 13: "13.

The inspection agency responsible for banking supervision next record, due diligence and the Governor of the State Bank approved or not approved for commercial banks registered shares please list shares in State Securities Committee. ".

4. Amendments, supplements article 15 paragraph 1: "article 15.

1. in the implementation process if there are obstacles, which are reflected in writing on State Bank (banking supervision, inspection) to timely summing the State Bank Governor decided. ".

5. Repeal of the provisions in section 2 temporary regulations regarding the joint stock commercial bank listing and registration issued stock to the public attached to decision No 787/2004/QĐ-NHNN to enforce schemes simplify stated at paragraph 35 section III Part A of resolution 60/NQ-CP.

Article 4. Modify, Supplement, abolish some terms in circular No. 01/2007/TT-NHNN dated Jan. 5, 2007 the State Bank's guidelines for implementing a number of articles of Decree No. 22/2006/ND-CP of March 2006 by the Government on the organisation and operation of the foreign bank branch to execute simplified approach stated at paragraph 37 , 38, 39, 40, 41, 42, 43, 44, 45 section III Part A of resolution No. 60/NQ-CP and paragraph 3, 4, 5, 9, 10, 11 item A Section XVI of resolution 25/NQ-CP DATED as follows: 1. Amendments, supplements 7.1, 7.2 points to simplified approach mentioned in paragraph 37, 39 section III Part A of resolution 60/NQ-CP and ten items A , Section XVI of resolution 25/NQ-CP: "7.1. Application for permit was established as a set of two (2) main, a Vietnamese and a degree in English, including: a) The English text must be legalized consuls include:-the documents mentioned in a, b, d, m, n of point 6.1 of this circular;

-The text stated in a, b, c, d, g, p, q 6.2 point of this circular;

-The text stated in detail a, g, h 6.3 points to this circular.

b) Vietnamese copies and translations from English to Vietnamese State agencies have the authority to endorse; private translation annual financial reports may be due to the Agency, the competent organization and translation functions. The Vietnamese text is original (or copy from the original Vietnamese) and was established in Vietnam does not need to be translated into English.

7.2. The entire original record mentioned above was created to add two (2) copies and submitted directly or sent by post to the State Bank (banking supervision, inspection). Within 20 working days after receiving the application, the State Bank (banking supervision, Inspector) has enough confirmation text profile or notification of the status of records and proposed additional info, profile (if not enough, yet valid). Within 10 working days after receiving the information, additional records, State Bank (banking supervision, Inspector) has confirmed enough text or further notice of the condition records according to the above principle. ".

2. Amendments, supplements art. 9 to execute simplified approach referred to in paragraph 5 of part A of section XVI of resolution 25/NQ-CP: "a Single renewal proposal) the duration of activity (Appendix 01a. ĐGH, 01b. ĐGH attach herewith).".

3. Annuls point g clause 9 to execute simplified approach stated at paragraph 38 section III part A of resolution 60/NQ-CP.

4. Amend paragraph 18 supplement to enforce schemes simplify stated at paragraph 39 section III Part A of resolution 60/NQ-CP.

"18. The record converted 18.1. Transfer from the Bank to venture into 100% foreign-owned banks


Profile switching banks venture into 100% foreign banks include the records specified in properties a, b, c, d, e, g, h, o, p item 6.2 section III Part I of the circular 03/2007/TT-NHNN. In addition, the Bank venture needs convert have to submit: a) application switch banks venture into 100% foreign-owned bank by the Chairman of the Board of venture Bank;

b) thereon (or resolution) in a meeting of the Board of the unified venture Bank shifting from banks to venture into active models 100% foreign bank;

c) contract (or commit) transfer of party capital venture in Vietnam for the assignee to foreign capital.

The transfer of the capital to ensure there is an overseas bank holds over 50% of the Charter capital of the Bank 100% foreign capital.

18.2. switch from 100% foreign-owned bank to venture banking conversion profile 100% foreign-owned bank into joint venture banks include the records specified in properties a, b, c, d, e, g, h, o, p 6.2 account section III of part I of this circular. Also, 100% foreign banks wishing to convert have to submit: a) application converts 100% foreign banks into the Bank venture led by Chairman of the Board 100% foreign bank;

b) thereon (or resolution) meeting the Board 100% foreign banking systems for the conversion from 100% foreign-owned banks to the banking activity model venture;

c) contract (or commit) transfer funds for Vietnam to join the joint venture parties.

The transfer of the capital to ensure the rate prescribed in article 46 of Decree (capital contribution level of foreign Parties must not exceed 50% of the Charter capital of a joint venture Bank). "

5. Modify, Supplement details a 23.1 points to enforce simplified approach stated at paragraph 11 A of part XVI of resolution 25/NQ-CP: "a Simple name change suggested by) the President of the Board of venture Bank, 100% foreign bank, or an authorized foreign bank (for foreign bank branch) (annex 02a. ĐGH , 809. ĐGH attachment) ".

6. Repealed 23.1 points c weather to execute simplified approach stated at paragraph 11 A of part XVI of resolution 25/NQ-CP.

7. Modify, Supplement c 23.2 points to weather enforced the simplified approach outlined in paragraph 3 Items A Section XVI of resolution 25/NQ-CP: "c) where 100% foreign-owned bank, Bank venture capital increase due to the change of members, which would have to submit more records as specified in point 57.3 circular 03/2007/TT-NHNN".

8. Removal details d 23.2 points to enforce simplified approach referred to in paragraph 3 of part A of section XVI of resolution 25/NQ-CP.

9. Amendments, supplements of art. 24 to perform simplified approach stated at paragraph 11 A of part XVI of resolution 25/NQ-CP: "a) records the above proposed changes was established as 1 sent by post or submitted directly to the State Bank (inspection bodies bank supervision). Within 30 working days from the date of receipt of a valid application, the State Bank has accepted or refused to approve the proposed changes outlined above. In case the bank refuses to explain clearly the reasons. "

10. Annulment details d point to 57.2 enforcement simplified approach stated at paragraph 41 section III Part A of resolution 60/NQ-CP.

11. Amendments, supplements 57.3 points to simplified approach stated at paragraph 42 section III part A of resolution 60/NQ-CP: 57.3 ". Transfer of records to the new partners beyond 100% foreign-owned banks or outer banks venture: in this case, the new partner must have the petition received transfer shares in 100% foreign-owned bank, the Bank filed a joint venture (1) record by mail or directly to the State Bank (inspection bodies banking supervision); enclose the text, documents to prove the ability to meet the prescribed conditions on the conditions to be established and operated 100% foreign-owned bank, Bank venture specified in point 5.3 of part I of this circular section III and at the request of the State Bank.

Also, 100% foreign-owned banks, joint venture Bank must send the Bank (banking supervision, inspection) the text, the following documents: a) an application for the transfer of capital contributions by the Chair of the Board. In the application need stated:-the reason for the transfer;

-Report on the evaluation of legal status, the financial situation of the new partner, able to meet the conditions prescribed to be involved with 100% foreign-owned bank, to join venture Bank of new partners.

-Other proposals (if any) additional modification of the Charter, the name, headquarters location, adjust the content license and works 100% foreign-owned bank, Bank venture, joint venture agreement; change the members of the Management Board, supervisory board, General Director (Director) 100% foreign-owned bank, Bank venture; and the content should change, other supplements are related to the transfer of this capital.

b) resolutions of the Board 100% foreign-owned bank, Bank venture agreed for the transfer of capital.

c) contract (commitment, agreement) the transfer of capital between the two sides which transfer to the assignee. ".

12. Modify, supplement a, b account to execute 58 simplified scheme referred to in clause 41, 42, 43 section III section A of resolution No. 60/NQ-CP: "a) relevant documents in the record transfer of capital was established abroad (if any) must be created in English and must be the chemical combination (except the cases specified in point 7.1 section III Part I This circular). The Vietnamese copies and translations from English to Vietnamese are certified.

b) venture Bank, 100% foreign-owned banks established 11 record submission directly or sent by post to the State Bank (banking supervision, inspection). Within 30 working days from the date of receipt of a valid application, particularly for the transfer of capital to new partners beyond 100% foreign-owned bank, Bank venture is 90 days, the State Bank has accepted or rejected the transfer of capital and suggest changes. In case of rejection, the State Bank has the text explain reasons. ".

13. Modify additional properties, a point and a 69.1 69.2 points to simplified approach stated at paragraph 44 section III Part A of resolution 60/NQ-CP: a) modify, Supplement details a 69.1 points: "a) representatives of foreign credit organizations filed directly or sent by post to the State Bank (inspection bodies bank supervision) name change petition offices, of which explain the reason please change name (due to the amalgamation, merger, split, acquisition of foreign credit institutions ...); accompanied by a (01) the standard text or the text y to accept the name change of the competent bodies of water resources of allowing foreign institutions to change the name. ";

b) modify, Supplement details a 69.2 points: "a) representatives of foreign credit organizations filed directly or sent by post to the State Bank (banking supervision, inspection) the application moved offices to a province, and city in other Central , which has explained the reason for switch location (1 original). ".

14. additional points c on the account to execute 71 simplified approach outlined in paragraph 45 of part A of section III of resolution 60/NQ-CP, clause 9 entry A Part XVI of resolution 25/NQ-CP: "c) after the Office has completed the above procedure, service, Office filing direct or by post to the State Bank (inspection bodies banking supervision), 1 the copies are authenticated texts related to prove the completion of the obligations and procedures. Within a period of five (5) working days from the date of the full filing office records as required, State Bank of India closing decision, revoked the license of Office. ".

15. Amendments, supplements art. 72 to enforce schemes simplify stated at paragraph 45 section III Part A of resolution 60/NQ-CP: "a) in this case, a minimum of 60 days before the expected termination of the activity of the representative offices of foreign credit institutions, must have form submission directly or sent by post to the State Bank (inspection bodies bank supervision). ".

16. additional circular 03/2007/TT-NHNN appendices No. 01a. ĐGH, ĐGH, ĐGH 01b. 02a., 809. ĐGH attached to this circular.

Article 5. Modification, addition, removal of some articles in licensing rules established and functioning non-bank credit organization stock attached to decision No. 40/2007/QD-NHNN dated Jan. 2, 2007 by Governor of the State Bank to enforce the simplified approach stated at paragraph 46 47, section III of part A of resolution 60/NQ-CP DATED as follows: 1. Annul paragraph 10 article 14.

2. additional amendments to article 22 clause 1, 2: "Establish 12 record (the original) as defined in article 13 of this regulation and sent by post or submitted in person at the State Bank (banking supervision, inspection) for approval;

1. After the State Bank has accepted in principle the Preparatory Committee, is responsible for: a) held the first shareholders meeting to adopt the content as defined in clause 2 article 4 of this regulation;

b) establishment as defined in article 14 of this regulation and submit 2 sets of records (the original) by post or submitted in person at the State Bank (banking supervision, inspectors). ".

3. Replace the licensing application form for establishment and functioning non-bank credit organization stock number in Appendix 1 attached to decision No. 40/2007/QD-NHNN by Annex No. 3. ĐGH attached to this circular.


Article 6. Modify, Supplement, abolish some terms in circular No. 14/2002/TT-NHNN dated Jan. 23, 2002 guidelines Decree 79/2002/ND-CP dated 4 October 2002 from the Government about the Organization and activities of financial firms to execute simplified approach stated at paragraph 48 section III Part A of resolution 60/NQ-CP DATED as follows : 1. Amendments, supplements 4.1 point: "4.1. Capital stock of financial companies were in Vietnam or in foreign currencies freely convertible but must convert the Vietnam according to the average transaction price rates on the interbank market at the time of capital contribution ".

2. Amendments, supplements the point 7.2, 7.3, 7.7: a) modify, Supplement point 7.2, 7.3: "7.2. Have minimum capital equal to the level of capital in accordance with the law;

7.3. the founding members are organizations, individuals and financial capacity, in particular: a) for organizations:-for Vietnam is not the business of credit institutions: + Is the business has minimal equity 500 billion in the previous year the adjacent proposed the creation of a financial company limited hai members. The case of the economic group proposed the creation of a financial company limited liability a member must have a minimum equity 1,000 billion and to have committed financial support for the finance companies to solve difficult cases in the troubled financial company on the capital or ability to pay;

+ Business with interest in the adjacent year before proposed the creation of a financial company;

+ Capital participation established to ensure: the equity minus the part the difference between long-term investments and long-term debt with minimum amount of capital contributed by committed (determined according to Appendix No. 4. ĐGH attached to this circular).

-Credit institutions with regard to Vietnam must ensure: + maintain the rate guarantee safety in operating under the rule of law after raising capital in financial firms;

+ Has the total assets have a minimum of 50,000 billion bad debt rate, on the total outstanding is under 3% at the time of applying, which established the financial company;

+ Do not violate the rules of safety in operating under the provisions of the State Bank of Vietnam during the 6 consecutive months prior to the time proposed the creation of a financial company;

+ Healthy business operations, safe; with interest in the adjacent year before proposed the creation of a financial company.

-For foreign credit organizations join established companies and venture finance financial company 100% foreign capital: + Has total assets are over 10 billion u.s. dollars at the end of the year before the time of filing, unless a bilateral investment agreement between Vietnam and the raw water of otherwise;

+ Healthy business operations, safe; with interest in the adjacent year before proposed the creation of a financial company;

+ The case of foreign credit institutions as banks, in addition to the conditions stated on the right is the prestigious Bank, hosted international rankings rated from average rates and stable or more, the rate of bad debt under 3%.

b) for individuals:-Vietnam nationals, not subject to be banned under the provisions of clause 2, article 13 business law 2005;

-Ability to financially contribute to the financial company capital;

-Not the people who are suffering prejudice criminal liability, are projects;

-Bachelor or university degree in economics or law;

-Commitment of financial support for financial companies to solve difficult cases in the troubled financial company on the capital or ability to pay. "

b) modification, additional 7.7:7.7 "point. Other conditions prescribed by the law on credit institutions ".

3. Abolition of 8.7 points.

4. Amendments, supplements the point 12.3: "12.3. Organizations and individuals apply for a license must submit two (2) sets of original records in accordance with 12.1 and 12.2 points through the post office or directly at the State Bank (banking supervision, inspectors). ".

Article 7. Modify the additional points, 10.2, 10.3 Circular No. 12/2005/TT-NHNN dated Jan. 12, 2005 the State Bank's instructions make certain content in Decree No. 16/2001/ND-CP dated May 2, 2001 of the Government on the organisation and operation of financial leasing companies and Decree No. 65/2005/ND-CP dated 19 May 2005 of the Government regulation on the amendments and supplements to some articles of Decree No. 16/2001/ND-CP to perform simplified approach in paragraph 48 of part A of section III of resolution 60/NQ-CP DATED as follows: "10.2. For financial leasing company affiliated credit institutions: license application established two (2) sets of send through the post office or directly at the State Bank (banking supervision, inspection).

10.3. for leasing companies and venture leasing companies 100% foreign capital: license application established two (2) sets (a set by Vietnamese and a Ministry in English) Bank sent by post or directly at the State Bank (inspection bodies bank supervision). ".

Article 8. Modify, Supplement, abolish some regulations at factoring of credit institutions attached to decision No 1044/2004/QĐ-NHNN dated Jan. 22, 2004 by Governor of the State Bank and decision No. 30/2008/QĐ-NHNN dated Jan. 16, 2008 by Governor of the State Bank of the amendments , the addition of some articles of the regulations covering the payment of the credit organization issued decision No. 1096/2004/QĐ-NHNN to simplified approach referred to in paragraph 57 of resolution 60/NQ-CP and in paragraph 14 A Part XVI of resolution 25/NQ-CP DATED as follows: 1. Modify additional clause 1, article 4 regulations factoring of credit institutions attached to decision No 1044/2004/QĐ-NHNN: "1. factoring unit: is the credit institution specified in point 2.1 item 2, article 1 of this regulation.".

2. Annuls Article 5, article 8, article 9 regulations covering payments attached to decision No 1044/2004/QĐ-NHNN DATED JAN. 5, paragraph 4 and article 1 of decision No 30/2008/QD-NHNN.

Article 9. Modify, Supplement, abolish some terms in circular No. 02/2008/TT-NHNN dated Jan. 2, 2008 State Bank of instructions made the Decree No. 28/2005/ND-CP dated 9 March 2005 by the Government on the organisation and operation of small-scale financial institutions in Vietnam and Decree No. 165/2007/ND-CP on November 15, 2007, the Government modify, Supplement, abolish a number of articles of Decree No. 28/2005/ND-CP to perform simplified approach in paragraph 62, 63 section III Part A of resolution 60/NQ-CP DATED as follows: 1. Abolish the 10.4 points to enforce schemes simplify in paragraph 62 of part A of section III of resolution 60/NQ-CP.

2. additional 11.4 points to enforce schemes simplify in paragraph 62 of part A of section III of resolution 60/NQ-CP: "11.4. Small scale financial institutions suggest license must submit records as defined in point 11.1 and 11.2 through the post office or filed at the State Bank (banking supervision, inspectors). ".

3. Amend paragraph 16 to execute additional options that simplify in paragraph 62 of part A of section III of resolution 60/NQ-CP DATED as follows: "16. 16.1. License renewal At the latest within 60 (sixty) days prior to the expiration date of the license, small scale financial institution must submit a (01) the original records suggest the extension of the licence by post or submitted in person at the State Bank (banking supervision inspectors). Records suggest the extension include: a) renewal application submitted to State Bank Governor by the Chair of the Board;

b) text of the Conference members (owners) unanimously recommended the renewal of the license;

c) resolutions of the Management Board about the renewal of the license;

d) situation report activity in three years due to the Chairman of the Board, which stated the results of activities, the implementation of the operational safety standards prescribed by the State Bank, network activity, the kinds of customers served, the number of clients of members social impact assessment, that the operation of the organisation brings, summarizing the goals achieved and not achieved versus planned and expected operational strategy the next time;

DD) active approach is expected in the first three years upon renewal of the license, stating the issues as defined in paragraph 10 of point 10.3 of this circular.

16.2. the Bank has the right to request the applicant organization and/or provide additional documents in order to clarify the content of the records suggest the extension referred to in clause 16.1 points.

16.3. within 30 (thirty) days from the date of the application to renew the proposal in clause 16.1, the State Bank will review the decision to approve or to refuse to renew the licence for small scale financial institutions. The case rejected the extension, State banks have text explaining the reason.

16.4. The extension of the time limit for the operation because the State Bank review each time. Each extension of the maximum time limit for the operation specified in the license.

16.5. within 15 (fifteen) working days from the date the license was renewed activity, small scale financial institution to the central or local newspapers in the three consecutive number the contents as specified in clause 15 points 15.1 h weather this circular. ".

4. Replace annex No. 2 attached to circular No. 02/2008/TT-NHNN by Annex No. 5. ĐGH attached to this circular to enforce schemes simplify referred to in point c of paragraph 62 section III Part A of resolution 60/NQ-CP.

Article 10. Modify, Supplement, abolish some terms in circular No. 01/2007/TT-NHNN dated Jan. 29, 2007 of the State Bank on the implementation of some of the content of the Decree 69/2007/ND-CP dated 20 April 2007 from the Government of the foreign investors who buy shares of commercial bank of Vietnam , to simplify the approach outlined in paragraph 7 of part A of section XVI of resolution 25/NQ-CP of the Government as follows: 1. Abolish the 5.5 points.

2. Amendments, supplements the point 8.2: "8.2. Set 3 record (including 1 set of originals and 2 sets of copies) as specified in clause 5 of this circular sent directly or by post to the State Bank (banking supervision, inspectors). ".


3. Modify the "regulations on 7th work" into "5 days" in clause 10 and clause 11.

Article 11. Terms of implementation of this circular are effective since January 14, 2011.

Article 12. Organizing Office, heads of relevant units in the State Bank, Director of the State Bank of India branch of the central cities, and Chairman of the Board (Board member), ceo (Director) of the credit institutions and organizations other related individuals are responsible for the implementation of this circular.