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Decision 24/2003/qđ-Nhnn: Regulation On Opening And Termination Of The Operation Of Branches, Representative Offices Of Non-Bank Credit Organization

Original Language Title: Quyết định 24/2003/QĐ-NHNN: Ban hành quy định về việc mở và chấm dứt hoạt động chi nhánh, văn phòng đại diện của tổ chức tín dụng phi ngân hàng

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The DECISION of the GOVERNOR of the STATE BANK issued regulations on the opening and termination of the operation of branches, representative offices of non-bank credit organization _ _ _ _ _ _ _ _ _ _ _ _ _ the GOVERNOR of the STATE BANK of the State Bank pursuant to the law No. 01/1997/QH10 of the credit institutions Act, no. 02/1997/QH10 on 12 December 1997;
Pursuant to Decree No. 86/2002/ND-CP dated 5 November 2002 of the 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 regulates the opening and termination of the operation of branches, representative offices of non-bank credit organization.
Article 2. This decision has the effect after 15 days from the date of signing.
Article 3. Office Manager, Director of The Bank and non-bank credit organization, heads of units of the State Bank, Director of the State Bank branch, central cities, Chairman of the Board and Chief Executive Officer (Managing Director) non-bank credit organization be responsible for the implementation of this decision.
 
REGULATION of the OPENING and TERMINATION of the OPERATION of BRANCHES, REPRESENTATIVE OFFICES of NON-BANK CREDIT ORGANIZATION (attached to decision No 24/2003/QĐ-NHNN dated Jan. 07/01/2003 of the Governor of the State Bank) chapter I GENERAL PROVISIONS article 1.
1. This regulation applies to the opening and termination of the operation of branches, representative offices in the country of the non-bank credit organizations are established and operating in Vietnam.
2. With regard to the opening and termination of the operation of branches, overseas representative offices of non-bank credit organization in paragraph 1 above are made by the Bank's own guidelines state.
Article 2.
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 02/05/2001 of the Government on the organisation and operation of financial leasing company, financial companies are regulated in Decree No. 79/2002/ND-CP on 04/10/2002 of primary on the Organization and activities of financial firms and non-bank credit organization.
2. Branches of credit institutions non-bank: is the unit depends, seal, have active fit active content of non-bank credit organization according to the authorization of non-bank credit organization.
3. Representatives of the non-bank credit organization: is the unit depends, seal, have the task of great power under the authorization of non-bank credit organization. A representative office is not done in active trading.
Article 3.
1. The non-bank credit organization want to open and the termination of the activities of the branch, its representatives must be approved by the State Bank.
2. After the Bank approved in writing, the non-bank credit organization issued the decision: a) to open a branch in the area of operational needs, including where to place the headquarters;
b) Opened a representative office in the area of operational needs;
c) termination of activity of representative office, branch, when there is no active demand.
Chapter II OPEN affiliate, REPRESENTATIVE OFFICE section I: the CONDITIONS to OPEN a BRANCH, REPRESENTATIVE OFFICE in article 4.
Non-bank credit organization can open branches and representative offices in accordance with article 3 of this regulation when the following conditions: 1. Have minimum operating time is 2 years from the date entered.
2. Business activities with interest in 2 years. The rate of overdue debt at the end of the previous quarter under 5%.
3. is there a minimum capital equal to the level of capital rules for non-bank credit organization in Decree No. 83/1998/ND-CP dated 03/10/1998, issued by the Government on a category level of capital of the credit institution.
4. The Executive management and the internal control system works effectively.
5. Information systems meet the requirements of management.
6. Do not violate the rules of safety in the operation, including: a) The case of not lending or leasing;
b limited credit supply);
c) limit lending, leasing, guarantee;
d) capital contribution limit, buy the shares;
DD) the rate guarantee safety;
e) risk prevention. 7. Do not violate the provisions of the law.
SECTION II: profile, the PROCEDURE to OPEN a BRANCH, REPRESENTATIVE OFFICE article 5.
Records suggest the Central Bank approved the opening of a branch office, the power of non-bank credit organizations include: 1. The text of the Chairman of the Board or person is authorized to recommend the Bank to approve the opening of branches, representative offices of non-bank credit organization in which are stated the summary: the need, the name, location, content, the scope of activities of the branch and the Branch Office.
2. the authoritative text of the Chairman of the Board (for authorization).
3. Resolutions of the Management Board on opening branches, representative offices.
4. The project to open a branch, Representative Office, which stated the need, the need for active, market research; expected by organization, the content and scope of activity; action plan in 3 years.
5. Financial statements of non-bank credit organization in 2 years accompanied the audit reports of the independent audit organization. These documents must be the originals, the case is that the copies must be certified by the Agency was issued a certificate of primary or state certified.
6. The text of the provincial people's Committee, the city where the non-bank credit organization intended to put the Headquarters Branch, Office Mobile allows non-bank credit organization based branch, Office of local representatives.
The case of the people's Committee, the city has no comments or only comments after the State Bank has accepted the opening of branch offices, the non-bank credit organization to specify the text of the Chairman of the Board to the State Bank review.
7. The text of the Director of the State Bank branch, the city where the non-bank credit organization intends to branch offices, representative offices of the need and the area of operation of branches, representative offices of credit institutions, non-banking credit organization except Africa open joint stock Bank branch the Mobile Office, where the headquarters of the branch, the branch office located in the same province, city with that organization's headquarters.
8. Documents confirming the ownership or the right to use legal branch office, Representative Office.
Article 6.
The sequence and procedures proposed State Bank approved the opening of a branch office, the power of non-bank credit organization: 1. non-bank credit organization stock posted 2 record to open branch offices representing the State Bank branch, the city where the organization is headquartered.
In the period up to 15 working days from the date of the application, the State Bank branch, the city review, comments written about conditions, application to open a branch, representative office as defined in article 4 and article 5 of this regulation and send it to the State Bank (The Bank and non-bank credit organization) 1 the profile of non-bank credit organization stock.

2. Credit institutions non-State Bank, non-bank credit organization belongs of credit institutions, credit institutions and non-banking credit organization Africa 100% foreign-owned bank posted 02 record please open a branch, Representative Office for the State Bank (The Bank and non-bank credit organization).
3. In the period up to 30 working days from the date of application of the non-bank credit organizations, State institutions and non-bank credit organization belongs, non-bank credit organization of venture and non-bank credit organization 100% foreign capital , 15 working days from the date of the record of non-bank credit organization shares the State Bank branch, the city sent to the State Bank, review and comments in writing to approve or not approve the opening of branches, representative offices of the applicant organization. The case of disapproval, the State Bank have text stating the reason.
Article 7.
1. Within a period of 6 months from the date the State Bank has accepted, non-bank credit organization must enact decided to open a branch office, and complete the procedures required under the provisions of the law to put branches, representative offices in operation.
2. Before a branch, representative office operations, non-bank credit organization must make the registration in the business register and the Central, local newspaper post under the provisions of the law.
3. non-bank credit organization must submit to the Bank the State decided to open a branch, Representative Office, a sign of business registration and other related documents.
Chapter III PUT an ACTIVE FUEL COUNTERS of BRANCHES, REPRESENTATIVE OFFICES article 8.
Non-bank credit organization be terminated the operations of a branch, representative office after the Bank approved in writing.
Article 9.
Records suggest the Central Bank approved the termination of the operation of branches, representative offices of non-bank credit organizations, including: 1. The text of the Chairman of the Board or person authorized on the termination of the operation of branches, representative offices, which stated the reason , the name and address of the Branch Office, Please terminate the operation.
2. the authoritative text of the Chairman of the Board (for authorization).
3. Resolutions of the Board of the termination of the activities of the branch, the Branch Office power.
4. when processing approach to terminate the activities of a branch, Representative Office.
5. The text of the Director of the State Bank branch, the city where the Branch Office power, intended to terminate the operation of the branch activity feed, representative offices of non-bank credit organization, except in the case of non-bank credit organization stock to terminate the operation of the branch Representative Office, where the headquarters of the branch, a representative office located in the same province, city with that organization's headquarters.
Article 10.
The order, the procedure recommends the State Bank approved the termination of the operation of branches, representative offices of non-bank credit institutions were as follows: 1. non-bank credit organization stock posted 02 record the termination of activity of branch offices representing the State Bank branch , the city where the organization is headquartered.
In the period up to 15 working days from the date of the application, the State Bank branch, the city review, comments in writing on the proposal to terminate the activities of a branch, Representative Office of the Organization and filing of records in accordance with article 9 of this regulation and send it to the State Bank (Service banks and credit institutions non-bank), attached to the 1st record of non-bank credit organization stock.
2. Credit institutions non-State Bank, non-bank credit organization belongs the credit organizations, institutions and non-bank building joint ventures and non-bank credit organization 100% foreign capital sent 2 record the termination of activity of representative office, branch for the State Bank (The Bank and non-bank credit organization).
3. In the period up to 30 working days from the date of application of the non-bank credit organization in paragraph 2 of this Article and 15 working days from the date of the profile of non-bank credit organization shares the State Bank branch, the city sent to The State Bank, review and comments in writing to approve or not approve the definitive operations of dots, branch offices of the applicant organization. The case of disapproval, the State Bank have text stating the reason.
Article 11.
1. During 30 days from the date of receiving the written approval of the State Bank, non-bank credit organization must enact the decision and termination of activity of representative office, branch.
2. Decides to terminate the operation must have the following principal cooktop cabinet: a) the name, address of branches, representative offices are to terminate the operation;
b) reasons to terminate the operations of the branch, the Branch Office power;
c) on termination of activity;
d) responsibilities of non-bank credit organization for the creditors.
3. Decides to terminate the operation branch, Office of non-bank credit organization must be sent to the State Bank, the business registration agency, the creditors, who have the rights, obligations and interests involved; listed in the headquarters of non-bank credit organization and headquarters branches, active termination power; the Central and local newspapers under the provisions of the law.
Article 12.
Non-bank credit organization has branches and representative offices termination of activities is responsible for the entire payment of the account payable to creditors and solve other related existence according to legal provisions.
Chapter V ENFORCEMENT PROVISIONS article 13.
The amendments, additional articles in this regulation by the State Bank Governor decided.