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Decision 534/2003/qđ-Nhnn: Issued Regulations On The Organisation And Operation Of The Management Board, Supervisory Board, General Director (Managing Director) Non-Bank Credit Organization

Original Language Title: Quyết định 516/2003/QĐ-NHNN: Ban hành Quy định về tổ chức và hoạt động của Hội đồng quản trị, Ban kiểm soát, Tổng giám đốc (Giám đốc) tổ chức tín dụng phi ngân hàng

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The DECISION, issued regulations on the organisation and operation of the Management Board, supervisory board, General Director (Managing Director) non-bank credit organization GOVERNOR STATE BANK pursuant to the law the State Bank of Vietnam no. 01/1997/QH10 of the credit institutions Act, no. 02/1997/QH10 on 12/12/1997;
Based business law No. 13/1999/QH10 on 12/6/1999;
Pursuant to Decree No. 86/2002/ND-CP on 05/11/2002 of government functions, tasks, powers and organizational structure of ministries, ministerial agencies;
Pursuant to Decree No. 16/2001/ND-CP dated 10/5/2001 of the Government on the organisation and operation of financial leasing company;
Pursuant to Decree No. 79/2002/ND-CP on 04/10/2002 by the Government on the Organization and activities of financial firms;
At the suggestion of the Director of the banking and non-banking credit organization, decision: article 1. Attached to this decision "rules on organization and operation of the Management Board, supervisory board, General Director (Managing Director) non-bank credit organization".
Article 2. This decision has the effect after 15 days from the date The quote and replace the previous regulations on the Organization and operation of the Management Board, supervisory board, General Director (Managing Director) non-bank credit organization.
Article 3. Office Manager, Director of The Bank and non-bank credit organization, the heads of the relevant units in the State Bank of Vietnam, the Director of the State Bank branch, central cities, the Chairman and the members of the Management Board, the Chairman and members of the Supervisory Board , General Director (Managing Director) non-bank credit organization is responsible for the implementation of this decision.

 



KT. GOVERNOR STATE BANK DEPUTY GOVERNOR () Tran Minh Tuan STATE BANK –-–-–-–-the SOCIALIST REPUBLIC of VIETNAM independence-freedom-happiness---------------regulations on the organisation and operation of the Management Board, supervisory board, General Director (Managing Director) non-bank credit organization (issued decision No. 516/2003/QĐ-NHNN dated Jan. 26/5/2003 of the Governor of the Bank of water) chapter I: GENERAL PROVISIONS article 1. Object, scope 1. This regulation regulates the organisation and functioning of the Management Board, supervisory board, General Director (Director) for the types of non-bank credit organization founded and operated in Vietnam below: a. non-bank credit organization belongs to credit institutions and finance companies affiliated to the State Corporation has a Board of management Separate control (hereinafter referred to as the non-bank credit organization).
b. non-bank credit organization of venture and non-bank credit organization 100% foreign capital (hereinafter the "non-bank credit organizations have foreign capital).
2. for types of non-bank credit organization shares the regulations on the Organization and operation of the Management Board, supervisory board, General Director (Director) is applied according to the regulation on organization and operation of the Management Board, supervisory board, General Director of joint-stock commercial bank issued decision No. 1087/2001/QĐ-NHNN dated Jan. 27, 8 years 2001 of the Governor of the State Bank.
3. for types of non-bank credit organization belongs the credit institutions do not have the Board, Board of management, then the private control of non-bank credit organizations by the Board of management and Supervisory Board of the credit organization is responsible. The regulation on organization and operation of the Board, the Board of control of credit institutions is done according to the terms of the credit institutions and other guidance documents of the State Bank.
Article 2. Explanation of terms In this regulation the terms below are interpreted as follows: 1. non-bank credit organization: is financial leasing companies are regulated in Decree No. 16/2001/ND-CP dated 10/5/2001 of the Government on the organisation and operation of financial leasing companies financial companies are regulated in Decree No. 79/2002/ND-CP on 04/10/2002 by the Government on the Organization and activities of financial firms and non-bank credit organization.
2. The Board: is the Agency of non-bank credit organization, have full rights in the name of non-bank credit organizations to decide the matter related to the purposes, benefits of that organization, except for the issues under the jurisdiction of the Board Of the company or a credit institution (for the non-bank credit organization) or of the party, which (for the non-bank credit organizations have foreign capital).
3. Control Board: is the Agency checked the financial activities of non-bank credit organization; supervise the observance of accounting mode, operation of the system of inspection and internal audit of non-bank credit organization.
4. the Director-General (Executive Director): who is responsible to the Board, before the law about the daily activities of non-bank credit organization.
Article 3. These cases are not elected to the Board, supervisory board or appointed ceo (Director) 1. Being blind for criminal liability.
2. Has been convicted on charges of serious breach of national security, serious crimes violate possessed, the serious economic crime.
3. Has been convicted of other crimes that have not been deleted.
4. Has served as a member of the management board or the Director-General (Executive Director) of a business went bankrupt, except in the case prescribed in clause 2 Article 50 of the law on enterprise bankruptcy.
5. Once the legal representation of a suspended business operations due to serious law violations.
6. Subject to the provisions of article 9, article 90 business law, article 17 Ordinance and article 13 Ordinance against corruption.
7. Are loans or are is the guarantee, the guarantee of official credit non-bank credit organization.
8. Have a father, mother, wife, husband, child or loans are as guarantor, guarantor of official credit non-bank credit organization.
9. Shareholders owning over 10% of the capital or the father, mother, wife, husband, children, shareholders owning more than 10% of the business is being held that non-banking credit grade credit with preferential conditions.
10. Do not guarantee the standards of ethics, competence and qualifications as prescribed by the State Bank.
11. other provisions are not guaranteed by the Charter non-bank credit organization regulations.
12. Father, mother, wife, husband, son, brother, siblings of the members of the Management Board, ceo (Director).
Article 4. Case lost the membership of course 1. Members of the Management Board, the Supervisory Board members, the Director-General (Executive Director) are considered to be naturally lose membership in the following cases: a. death or loss of capacity for civil acts.
b. D. behalf management shares of the members which are legal entities or members, which was termination legal capital contribution (if is non-bank credit organizations have foreign capital).
c. subject to the provisions of one of the 1, 2, 3, 4, 5, 6 of article 3 of this regulation.
d. when the courts were expelled from the territory of the Socialist Republic of Vietnam.
e. non-bank credit organization revoked the license of operation.
2. The title was Governor of the State Bank of the medical standards of the persons specified in clause 1 of this article, of course.

3. The case of course lose the membership of the Management Board, the Supervisory Board members, the Director-General (the Director) as defined in points a, b, c, d, e of paragraph 1 of this article, the Board of non-bank credit organization must have the right text report with specific documents submitted to State Bank and are responsible for the accuracy honesty of this report before the law, and be treated according to the provisions in articles 12, 18, 22 of this regulation.
Article 5. Case dismissed, long beach 1. The Chairman and the members of the Management Board, the Chairman and members of the Board, General Director (Managing Director) non-bank credit organization be dismissed, Mission in the following cases: a. the capacity for civil acts is limited.
b. application for resignation with logical reasons.
c. subject to the provisions in breach of clause 7, 8, 9, 10, 11 and 12 of article 3 of this regulation.
d. violation of the law, the State Bank and non-bank credit organization in the course of performing their duties and powers assigned to it.
e. other cases due to Charter non-bank credit organization regulations.
2. The Chairman and the members of the Management Board, the Chairman and members of the Board, General Director (Director) after being dismissed, the mission should bear personal responsibility for his decisions in time took on that title.
Article 6. Cases of temporary suspension 1. Case of non-bank credit organization being put into special control condition, head of special control in non-bank credit institutions have the right to temporarily suspend the right to administer, control, administration of the members of the Management Board, the Supervisory Board members, the Director-General (Executive Director) if it deems necessary.
2. In the time being temporarily suspended administrator rights, control or wait to do the procedure dismissed, mission titles in the case prescribed in clause 1 article 5 of this regulation, members of the Management Board, supervisory board members are attending the meeting but not the right to vote at meetings of the Board , The Control Board.
Article 7. The medical standards the titles of Chairman and the other members of the Board, the Chairman and the other members of the Board of control, General Director (Director) of the non-bank credit organization be elected, appointed, dismissed, the mission must be the standard State Bank Governor y. Chapter II : the BOARD section I: Organization of the BOARD of article 8. Appointment, dismissal of the titles of the Management Board 1. For non-bank credit organization belongs: The title of the Board by the Chair of the Board Of the company or the Chairman of the Board of the credit organization appointment, dismissal and to be Governor of the State Bank of the medical standards. 2. For non-bank credit organizations have foreign capital: The title of the Board by representatives of parties, which nominated, was Chairman of the Board of the credit organization Africa foreign capital Bank appointed, dismissed and must be the standard State Bank Governor y. Article 9. Members of the Management Board 1. Members of the Board who is reputable, professional ethics and understanding of financial activities-banking, not in the object prescribed in article 40 of the law of credit institutions, and article 3 of this regulation.
2. members of the Management Board cum General Director (Director), Member of the Board of Control Board Chief's dedicated members. Chairman of the Board is not at the same time is the Director-General (Executive Director) or Vice President (VP) of primary non-bank credit organization.
3. The Chairman and the other members of the Board are not authorized for those who are not members of the Board perform the task, their powers.
4. The Chairman of the Board is not involved the Board or join other credit institutions operating, unless that organization is affiliated company of non-banking credit organizations.
5. The term of Board members from 11 to 12 years by the Board regulations and be recorded in terms of non-bank credit organization. The members of the Board may be appointed. The members of the Board did not enjoy part-time salary but may be entitled to allowances in relation to the activities of the Board.
6. The number of members: a. the Board of non-bank credit organization belongs has from 3 to 5 members, including dedicated members and part-time members; the number of members of the Board, dedicated members, part-time members by the Board of the Corporation or of the Board of the credit organization regulations and be recorded in terms of non-bank credit organization.
b. the Board of non-bank credit organizations have foreign capital have the minimum number of members is three and not exceed 11 people, including dedicated members and part-time members; the number of members of the Board, dedicated members, part-time members by the Board decision and be recorded in terms of non-bank credit organizations have foreign capital.
Article 10. The meeting of the Management Board 1. The Board of the non-bank credit organization belongs to the recurring meeting at least once each quarter. For non-bank credit organizations have capital abroad, the Board is meeting periodically at least once a year. The Board could have extraordinary meeting, at the suggestion of the Chairman of the Board, or the Board of control, or General Manager (Director), or 2/3 of the members of the Board, or of others due to Charter non-bank credit organization regulations.
2. The Chairman of the Board convening and chairing the meetings of the Board; the case of absence of Chairman of the Board authorize a member of the Board convened and chaired the meeting.
3. Meetings of the Board are conducted when there is at least 2/3 of members of the Board attended. Each Board Member has one voting. The resolutions and decisions of the Board must be at least 50% of the total number of voting members approved and required for the enforcement of non-bank credit organization. Peer vote case, the final decision belongs to the comments of the Chairman of the Board or Board member to be Chairman of the Board of Trustees authorized to preside the meeting.
4. The meeting of the Board must be recorded in full in the record book. Preside and Secretary must jointly take responsibility for the accuracy and honesty of Board meeting minutes.
Article 11. The air helps the Board 1. The Board uses operating apparatus and seals of non-bank credit organizations to perform their duties.
2. The Board has dedicated to help employees. The Board regulates the quantity (but not more than 5 persons) and the duty of each employee to help.
Article 12. Change the titles of Chairman and members of the Management Board 1. For non-bank credit organization belongs:

a. within a period not exceeding 30 days from the date the President of the Board being naturally lose the membership of the Board, the Board is responsible to the President of the Board Of the company or the Chairman of the Board of the credit organization to appoint a Chairman of the Board (standard and conditions under the current rules) the standard State Bank Governor y. b. Chairman of the Board from the Presidency must have the application submitted to the Board of non-bank credit organization and Chairman of the Board Of the company or the Chairman of the Board of the credit organization. Within 60 days of receipt, the Chairman of the Board Of the company or the Chairman of the Board of the credit organization must review the decision and proceed to the procedure of dismissal, mission, appointed Chairman of the Board (standard and conditions under the current rules) the standard State Bank Governor y. c. members of the Board wanted to resign must have menu text or send the Board of non-bank credit organization and Chairman of the Board Of the company or the Chairman of the Board of the credit organization to review the decision having dismissed , appointed members of the Board, the Governor of the State Bank of the medical standards. 2. For non-bank credit organizations have foreign capital: a. within a period not exceeding 60 days from the date the President of the Board being naturally lose the membership of the Management Board, on the capital contribution in non-bank credit organizations have foreign capital are keeping the title of Chairman of the Management Board are elected representatives (qualifies under the conditions and the current plan) hold the title President of the Board, the Governor of the State Bank standard y. b. Chairman of the Board wanted to resign must have the application submitted to the Board and the party, which is in the non-bank credit organizations have foreign capital are keeping the title of Chairman of the Board. Within a period of 90 days from the date of the application, the party which holds the titles of Chairman of the Board to review the decision and proceed to the procedure of dismissal, mission, appointed Chairman of the Board (qualified, under current rules), the Governor of the State Bank standard y. c. members of the Board wanted to resign must have single or a send the Board and the parties which in the non-bank credit organizations have foreign capital to review the decision having dismissed, appointed members of the Board, the Governor of the State Bank of the medical standards. Section II: DUTIES and POWERS of the MANAGEMENT BOARD article 13. Duties and powers of the Board 1. For non-bank credit organization belongs to: a. administer non-bank credit organization be made according to the provisions of the laws, regulations and rules of the non-bank credit organization.
b. decide on issues related to the purpose, the rights of non-bank credit organization, except for the issues under the jurisdiction of the Board of the Corporation or of the Board of the credit organization.
c. getting the sources of capital and other resources by the Management Board Of the company or the Board of the credit organization; The decision, which bought the stake in the venture, with other private organizations in the country.
d. The Governor State Bank: Standard-y Charter credit non-bank organisations;
-Approved the open, close branches and representative offices; the establishment, dissolution of the company;
-To approve the capital contribution, purchase shares, a joint venture with the foreign owner (for the finance company);
-Approved the split, split, consolidation, merger, acquisition, dissolution of non-bank credit organization;
-Approved the changes specified in article 31 paragraph 1 the law on credit institutions;
-To elect, appoint, resignation and recall the Chairman and the other members of the Board, the Chairman and the other members of the Board of control, the Director-General (Executive Director);
-Approved independent auditing organizations to audit the activities of non-bank credit organization according to the regulations of the Bank;
-Other issues prescribed by the law.
e. The Board of the Corporation or of the Board of the credit organization:-decided to increase, reduce capital and other resources;
-Decide the opening, closing branches and representative offices; the establishment, dissolution of the company;
-Decide the Division, separation, consolidation, merger, acquisition, dissolution of non-bank credit organization;
-Decide the election, appointment, resignation and recall the Chairman and the other members of the Board, the Chairman and the other members of the Board of control, General Director (Director), the Vice President (VP) and Chief Accountant;
-Strategic decisions, business policy, approved a long-term development plan;
-The decision to enact regulations of the Board, the Supervisory Board and the Executive Committee.
g. additional decisions, amend the Charter and structure of the organization operating the head office, branches, representative offices and subsidiaries of non-bank credit organization.
h. approval of business activities by the Director-General (Executive Director) suggested.
i. General provisions on credit interest rates, fees, Commission rates, the level of fines to the customer in accordance with the law.
k. decided to extract and use the funds.
l. approve the appointment, dismissal, Mission Chief, Deputy Chief, the Director, Deputy Director, head of the representative office, the Director, the Deputy Director of affiliated companies (if any).
n. building regulations of the Board, the Supervisory Board and the Executive Committee.
m., issued regulations on the organisation and operation of internal audits and inspections in accordance with the law.
o. through financial reports and annual settlement.
p. issued specific guidance documents the implementation of the policy, the regime of State regulation, and non-bank credit organizations on the Organization and operation.
q. implementation of rights and duties prescribed by the law.
2. for non-bank credit organizations have foreign capital: a. Management non-bank credit organization be made according to the provisions of the laws, regulations and rules of the non-bank credit organization.
b. strategic decisions, business policy, approval of the long-term development plan, annual and important areas of non-bank credit organization.
c. The State Bank Governor:-medical Standards;
-To increase or decrease the level of capital;
-Approved the open, close branches and representative offices; the establishment, dissolution of the company;
-To approve the capital contribution, purchase shares, a joint venture with the foreign owner (for the finance company);
-Approved the split, split, consolidation, merger, acquisition, dissolution of non-bank credit organization;
-Approved the changes specified in article 31 paragraph 1 the law on credit institutions;
-To elect, appoint, resignation and recall the Chairman and the other members of the Board, the Chairman and the other members of the Board of control, the Director-General (Executive Director);
-Other issues prescribed by the law.
d. decide the election, appointment, resignation and recall the Chairman and the other members of the Board, the Chairman and the other members of the Board of control, General Director (Director), the Vice President (VP) and Chief Accountant.

e. decision strategies, business policies, approval of the long-term development plan, the regulations of the Board, the Supervisory Board and the Executive Committee and the organizational structure of the Executive Office, branches, representative offices and subsidiaries.
g. approve hiring rules, regulations, rewards and allowances for employees.
h. through financial reports and annual settlement.
I decided to split the profits for the parties according to the proportion of capital.
k. issued specific guidance documents the implementation of the policy, the regime of State regulation, and non-bank credit organizations on the Organization and operation.
l. decided to amend and supplement the Statute; Deciding which to buy, stock, joint ventures with organizations and individuals in the country.
n. perform the rights and duties prescribed by the law.
Article 14. Duties and powers of the Chairman of the Management Board 1. General provisions a. Is responsible for all the work of the Board, the organization assigned task for the Member to perform the duties and powers of the Board;
b. the Signed documents under the authority of the Board of Governor of the State Bank and other relevant agencies;
c. Sign the resolutions, decisions and documents or through the text under the authority of the Board to perform in non-bank credit organization;
d. convene, chaired and assignment of Board members to prepare the content of the meetings of the Board;
e. perform the powers and duties prescribed by the law and the Statute of non-bank credit organization.
2. for non-bank credit organization belongs: in addition to the provisions outlined in paragraph 1 of this article, the Chairman of the Management Board has the following powers and duties: a. on behalf of the Board of the same ceo (Director) newsletter and other resources by corporations or institutions;
b. the Signed documents under the authority of the Board Of the company or a credit institution.
3. for non-bank credit organizations have foreign capital: in addition to the provisions outlined in paragraph 1 of this article, the Chairman of the Management Board may authorize one of the Board members at non-bank credit organizations have foreign capital took on his work and is responsible before the law about the assignment. Powers and responsibilities of the members of the Management Board is authorized by specific provisions in the authoritative text of the Chairman of the Board.
Article 15. Duties and powers of the members of the Management Board 1. Duties and powers prescribed by the law, the State Bank, Charter of non-bank credit organizations and the resolutions, decisions of the Board.
2. members of the Board to execute tasks as assigned by the Chairman of the Board; not authorized for those who are not members of the Board perform the task, their powers.
Chapter III: CONTROL BOARD section I: Organization of the CONTROL COMMITTEE article 16. Appointed, dismissed the position Control Board 1. For non-bank credit organization belongs: head of the Supervisory Board and the members of the Supervisory Board by the Chairman of the Management Board Of the company or the Chairman of the Board of the credit organization appointment, dismissal and to be Governor of the State Bank of the medical standards. 2. For non-bank credit organizations have foreign capital: head of the Supervisory Board and the members of the Supervisory Board by the representatives of the parties, which nominated, was Chairman of the Board of non-bank credit organization appointment, dismissal, and should be the standard State Bank Governor y. Article 17. Control Board members 1. Control Board members have a minimum of 3 people, but do not exceed 10 people and at least 12 people are dedicated members. The number of supervisory board members and professional members by the Chairman of the Management Board Of the company, or the Chairman of the Board of the credit organization, or Chairman of the Board of non-bank credit organizations have foreign capital regulations and be recorded in terms of non-bank credit organization.
2. the members of the Supervisory Board have the same term of members of the Board. Control Board members may be re-elected.
3. Control Board members who are not subject to the provisions of article 40 of the law on credit institutions, meet the qualification requirements and professional ethics as prescribed by the State Bank.
Article 18. Change the title Prefect, members of the Supervisory Board 1. For non-bank credit organization belongs to: a. within a period not exceeding 30 days from the date the Chief control being naturally lose control board membership, the Board is responsible to the President of the Board Of the company or the Chairman of the Board of the credit organization nominated or appointed a Board of control (standard and under current rules), the Governor of the State Bank of standard y. b. Control Board Chief wants to resign must have single sent to the Board and Control Board non-bank credit organization and Chairman of the Board Of the company or the Chairman of the Board of the credit organization. Within 60 days of receipt, the Chairman of the Board Of the company or the Chairman of the Board of the credit organization must review the decision and proceed to the procedure of dismissal, appointed Chief, mission control (standard and conditions under the current rules) the standard State Bank Governor y. v. Control Board members wanted to resign must have menu text or the Board, the Board of control of the non-bank credit organizations to the Chairman of the Board Of the company or the Chairman of the Board of the credit organization consider the decision dismissed , appointed Control Board members (eligible and under current rules), the Governor of the State Bank of the medical standards. 2. For non-bank credit organizations have foreign capital: a. within a period not exceeding 60 days from the date of the Control Board was naturally lose the membership Board, representatives of the parties involved, which are nominated as Chief of control to the Chairman of the Board of non-bank credit organization appointed dismissal, the Governor of the State Bank of standard y. b. Control Board Chief wants to resign must have single sent to the Management Board, supervisory board and parties which in the non-bank credit organization. Within a period of 90 days from the date of the application, the representative side which is nominated head of Supervisory Board to the Chairman of the Board of non-bank credit organization conducting the procedure of dismissal, dismissed, appointed, the Governor of the State Bank standard y. c. Control Board members wanted to resign must have menu text or the Board , The Control Board to the parties, which in the non-bank credit organizations have foreign capital to review the decision.
Section II: DUTIES and POWERS of the CONTROL BOARD article 19. Duties and powers of the Supervisory Board 1. Check the financial activities of non-bank credit organization; supervise the observance of accounting mode, operation of the system of inspection and internal audit of non-bank credit organization;

2. Evaluation of financial statements of non-bank credit organization; check each specific issue related to financial activities of non-bank credit organization when it deems necessary, or at the discretion of the Board of non-bank credit institution, or of the Chairman of the Board Of the company, or of the Chairman of the Board of the credit organization , or of the members, which is in the non-bank credit organizations have foreign capital;
3. Regularly inform the Board about results of activity; the consultation of the Board before the reports, conclusions and recommendations up the Board Of the company, or credit institutions, capital contribution or members of non-bank credit organizations have foreign capital;
4. report of the Board of the Corporation, or the credit institution, or of the members, which is in the non-bank credit organizations have foreign capital for the accuracy, truthfulness, legality of the notes, store vouchers, accounting books and financial statements; operation of the system of inspection and internal audit of non-bank credit organization;
5. additional measures recommendations, modifications, improvements in the financial activities of non-bank credit organization according to the provisions of the law;
6. test the system used and the internal audit of non-bank credit organizations to perform their duties;
7. other rights and duties under the provisions of the legislation and the Charter non-bank credit organization.
Article 20. Duties and powers of the Chairman, the members of the Board of control 1. Head control has the duty and authority to: a. convening of meeting of Board of supervisors;
b. on behalf of the Board to convene an extraordinary Board meeting;
c. assigning specific tasks to each Member Control Board;
d. responsibility for Steering Committee members to implement the tasks and powers of the Control Board; responsible to the Board of non-bank credit organization, the Board Of the company, or of the Board of the credit organization, or members of the credit institution which is the non-bank foreign capital on the operation of the Control Board;
e. authoritative for an out of Control Board members took the job of head of Department in the period of absence.
2. Control Board members have the following rights and duties: a. control of business activities, check the bookkeeping, assets, reports, a settlement of the financial year and make recommendations to remedy these violations (if available);
b. the rights to require officials and employees of non-bank credit organization provided the situation, figures and explanations of business activities;
c. the report head of control about the unusual financial facts, bear the personal responsibility of the evaluation and its conclusions;
d. at least once a month have written reports, results in the field of control is assigned to the Control Board;
e. attend Board meetings, statements of opinion and have the recommendations, but did not participate in the voting. If there are other comments with the resolution of the Board, be entitled to suggest to write his comments on the minutes of the session;
g. Two thirds of the members of the Board of control or over have the right to suggest the Board meeting in extraordinary session in case the Board had serious violations;
h. responsible before the law, head of the Supervisory Board, the Management Board of non-bank credit organization, the Board of the Corporation or of the Board of credit institution or capital contribution of member credit institutions are foreign-owned non-banking on the accuracy and honesty of the figures related records, activities of non-bank credit organization. The case of concealed or not timely recommendations dealt with the breach will be responsible jointly when the assignment;
i. implementation of the rights and duties under the provisions of the Charter non-bank credit organization;
3. operating costs, including wages and conditions of employment of the members of the Board of control due to non-bank credit organization. For the Control Board members are part-time remuneration.
Chapter IV: GENERAL MANAGER (Managing Director) NON-BANK CREDIT INSTITUTIONS article 21. Functions of the Director-General (Executive Director) 1. Active operating non-bank credit organizations is the General Manager (Director), the Director-General (the Director) has a number of Vice President (VP), Chief Accountant and professional apparatus.
2. the Director-General (Executive Director) is the legal representative of the non-bank credit organization, who is responsible to the Board, before the law about the daily activities of non-bank credit organizations and appointed by the Board, resignation and recall. For non-bank credit organization, Director-General (the Director) by the Chair of the Board Of the company or the Chairman of the Board of the credit organization appointment, dismissal and dismissed.
The appointment, dismissal and recall the title General Manager (the Director) to be the standard State Bank Governor y. 3. General Manager (Director) is not any Chief Executive positions at other institutions, except as companies of non-bank credit organization and only be holding the titles of Chief Administrator, controls in companies;
4. the Director-General (Executive Director), Vice President (VP) of non-bank credit organization must reside in the current time in Vietnam.
5. Vice President (VP) was Director General (Deputy Director) operating one or several fields of activities of non-bank credit organization according to the assignment of General Manager (Director) and is responsible to the Director-General (Executive Director), the law on the implementation of the tasks assigned.
The appointment, dismissal and recall the title Vice President (VP) is defined in terms of non-bank credit organization.
Article 22. Change the position Of a Director (Executive Director) 1. The case Of the Director (Director) naturally takes as General Manager (Director), then the Board must immediately dispatched a Vice President (VP) or a professional Manager (case no Vice President-Deputy Director) ensures the conditions as stipulated by the State Bank and not subject to the provisions of article 3 of this regulation to the the work of the Director-General (Executive Director) and must immediately report in writing submitted by the State Bank.
2. within a maximum of 60 days from the date the Director General (Director) were of course lost as Director General (Executive Director) or get an application from the position of Director-General (the Director) shall: a. with respect to non-bank credit organization belongs: master tich Corporation Board or the Chairman of the Management Board of the credit organization tri-need to find a replacement and advance the procedure for appointment of the Director General (Director) the standard State Bank Governor y. b. for non-bank credit organizations have foreign capital: the party which holds the title of ceo (Director) must proceed to the nomination Of Directors (directors) to the Chairman of the Board doing procedures as long , appointed General Manager (the Director) the Governor of the State Bank of medical standards.

3. where the Director-General (Executive Director) serious violations of laws and regulations the Charter non-bank credit organization, the Board has the right to temporarily suspend the authority of the Director-General (Executive Director), and are sent immediately to a Vice President (VP) ensures the conditions as stipulated by the State Bank to undertake the work of the Director General and there is now text report, proposals for handling violations, as well as the title of ceo (Director) sent the State Bank and Chairman of the Board Of the company, or the Chairman of the Board of the credit organization, or party which is being dispatched to keep the title Of the Director (Deputy Director) addressed under current rules.
4. During the Director-General (Director) is not yet a standard State Bank Governor y, Chairman of the Board and the members of the Management Board, head of the Supervisory Board and the Supervisory Board members is solely responsible before the law of all activities of non-bank credit organization.
Article 23. Duties and powers of the Director-General (Executive Director) 1. The same President of the Board of capital newsletter and other resources by the Corporation, or the credit institution, or of the parties involved, which in the non-bank credit organizations have foreign capital to manage, use.
2. The Board of Trustees: a. amend, supplement the Charter non-bank credit organization;
b. opening and termination of the operation of branches, representative offices and subsidiaries;
d. organizational structure and executive management at Headquarters; organizational structure of the Executive Branch, representative offices and subsidiaries;
e. appointment, dismissal, Deputy Director-General (Deputy Director), Chief Accountant; Director of the representative office, branch companies under the provisions of the Charter non-bank credit organization;
g. active regulation of branches, representative offices, subsidiaries;
h. specific decisions about interest rates, fees, Commission rates, the level of fines for the client as specified by law;
i. assess business activities; option to use the profit after tax;
k. capital contribution, purchase of shares of the enterprises and of other credit institutions (for the type of financial company);
l. divided, split, consolidation, merger, acquisition, dissolution of non-bank credit organization;
n. the changes prescribed in clause 1 article 31 of the law on credit institutions;
m. choice of independent audit organizations to audit the activities of non-bank credit organization;
o. specific guides the implementation of the policy, the regime of the State of the Bank's financial activities.
3. The decision of appointment, resignation and recall the title Chief and Vice departments, career service at Headquarters; The Director, Deputy Director and Deputy Chief rooms, of branches, representative offices and affiliated companies. The appointment and dismissed the title on to be Chairman of the Board of non-bank credit organization approved. Recruitment, discipline and retrenchment for the staff of non-bank credit organization; decide the salaries and allowances for employees including managers of appointment of the Director-General (Executive Director) in accordance with the law and by the regulations of the Board of non-bank credit organization.
4. Implementation plan operations, plans to use the profits after tax as are approved by the Board.
5. Operating and decide the issues related to the business activities of non-bank credit organization according to law, the Charter of the Organization of credit Africa Bank and the resolutions, decisions of the Board; responsible for the business results of non-bank credit organization.
6. Representation for non-bank credit organization in international relations, litigation, disputes, dissolution, bankruptcy.
7. Is the decision to apply measures beyond his jurisdiction in cases of emergency (natural disasters, fire, the enemy, the problem) and take responsibility for those decisions, then must report immediately to the Board, the State Bank and other State agencies have the authority to tackle next.
8. Subject to the checking, monitoring of the Management Board, supervisory board, State Bank and other State agencies are competent for the implementation of his executive duties.
9. report of the Board, the State Bank and other State agencies have the authority under the provisions of the law on business activities results of non-bank credit organization.
10. The rights and duties as prescribed by law, Charter non-bank credit organization and the decision of the Board.
Chapter V: sequence, procedure, STANDARD medical RECORDS to the APPOINTMENT, the DISMISSAL of MEMBERS of the MANAGEMENT BOARD, SUPERVISORY BOARD, GENERAL DIRECTOR (Director) article 24. Profile, procedures regarding the appointment, dismissal 1. For non-bank credit organization belongs: within a period of not more than 15 working days from the date of the resignation, recall the title of Chairman and the other members of the Board, the Chairman and members of the Control Board, the Director-General (the Director) under the term or during the term of the Board , Control Board and executives of non-bank credit organization, non-bank credit organization must complete the record posted by the State Bank. Records are: a. the Newspaper's Chairman of the Board (or authorized person) suggested the State Bank Governor to appointed, dismissed the titles. The sheets must confirm the recommended standard of medicine appointment does not violate article 3 of this regulation and having sufficient capacity, conditions, standards under current rules of law;
b. the decision of the Chairman of the Board Of the company or the Chairman of the Board of the credit organization on the appointment, dismissal of the titles of members of the Management Board, supervisory board members and the ceo (Director) of the non-bank credit organization;
c. meeting of the Board on the appointment, dismissal of the titles of members of the Management Board, supervisory board members and the ceo (Director);
d a statement (a) of the recommended standard of Health appointed the title of the Board members, supervisory board and General Director (Director) of the non-bank credit organization (form attached);
e. copies of diplomas has been certified by the person who recommended the standard of medicine appointment, the title of the Board members, supervisory board and General Director (Director) of the non-bank credit organization;
g. A key application for resignation of who is holding one of the above titles (for the case dismissed);
h. other related documents.
2. for non-bank credit organizations have foreign capital: within a period of 30 days from the date of appointment, provided the titles of Chairman and the other members of the Board, the Chairman and members of the Control Board, the Director-General (Executive Director) or periodically during the term of the Board , Control Board and executives of non-bank credit institutions are foreign-owned, non-bank credit organization must complete the record posted by the State Bank. Records are: a. the text of the Chairman of the Board (or authorized person) suggested the State Bank Governor to appointed, dismissed the titles. The sheets must confirm the recommended standard of health is not in violation of article 3 of this regulation and having sufficient capacity, conditions, standards under current rules of law;

b. the decision of the Chairman of the Board on the appointment, dismissal of the titles of members of the Management Board, supervisory board members and the ceo (Director) of the non-bank credit organization;
c. nomination text titles of the Management Board, supervisory board members and the ceo (Director) in the non-bank credit organizations have foreign equity capital contribution of the parties;
d. meeting of the Board on the appointment, dismissal of the titles of members of the Management Board, supervisory board members and the ceo (Director). The case may not be meeting the Board to decide on the appointment, dismissal of the titles mentioned above, the members of the Board must have text stating their opinions;
e. A declaration (main version) of the recommended standard of Health appointed the title of the Board members, supervisory board and General Director (Director);
g. copies of diplomas has been certified by the person who recommended the standard of medicine appointment, the title of the Board members, supervisory board and General Director (Director);
h. the original application for resignation of who is holding one of the above titles (for the case dismissed);
i. other relevant texts.
Article 25. The medical standards of the State Bank of 1. Within a period not exceeding 15 days from the date of receiving enough profile according to the current rules, the State Bank will review the decision of the medical standards or have text requires non-bank credit organization added, the next tournament records. The case too 45 days from the date the State Bank have written additional interpretation requirements next records which the Board non-bank credit organization not complete required profile, the State Bank will not consider the recommended titles for the medical standards. 2. Those who have been appointed in non-bank credit organization but not the Governor of the State Bank of standard medicine do not guarantee the standards, under current rules or additional, timely non-process records in accordance with the prescribed time limit, will not continue to undertake your job title is appointed.
3. in case of not having enough titles for members of the Management Board, supervisory board members and the ceo (Director), the members of the Management Board, supervisory board members left of the non-bank credit organization must be responsible before the law and the State Bank in the management and business operations of non-bank credit organization; at the same time must urgently proceed immediately the procedure for dismissal, appointment, the title is missing or incomplete according to the provisions of this regulation and the terms non-bank credit organization for the State Bank to review the decision.
Chapter VI: PROVISIONS Enacted 26. The amendments and supplements to the provisions of this regulation because the State Bank Governor decided.