New significant policies effective from the end of January 2016

1. Shortsighted people are exempt from military service

This is the content of Circular No. 140/2015/TT-BQP on conscription. According to the Circular:

- Citizens who have grade 3 health and has refractive error (myopia of 1.5 diopters or more, hypermetropia regardless of degree), drug addicts, HIV/AIDS sufferers are exempt from conscription.

- Citizens who have grade 1, 2, 3 health according to regulations of by the Ministry of Health and the Ministry of National Defense on health requirements for military service shall be qualified for conscription.
 
- The units specified in Point b Clause 2 Article 4 of the Circular shall apply other standards established by the Ministry of National Defense.

Circular No. 140/2015/TT-BQP comes into force from January 30, 2016.

Circular No. 167/2010/TT-BQP on annual conscription expires from the effective date of Circular No. 140/2015/TT-BQP .

2. New regulations on required reserves of credit institutions

Circular No. 23/2015/TT-NHNN comes into force from January 28, 2016. According to the Circular:

- Branches of foreign banks established and operating under the Law on credit institutions shall also implement regulations on reserve requirement.

- The State bank shall decide interest rates on required reserves and excess reserves, which vary according to the type of each credit institution and type of deposit at that time (defined by the Government).

- Governor of the State bank may consider reducing the reserve requirement applied to credit institutions implementing an approved restructuring plan, credit institutions appointed to participate in restructuring of ineffectual credit institutions.

- The notification of required reserves, payment of interest on required reserves and excess reserves in VND shall be carried out by the branch of the State bank in the province where the credit institution is headquartered.

A notification must be sent to the branch of the State bank in the province where the credit institution is headquartered unless the credit institution selects the branch of the State bank itself.

3. Determination of compensation during enforcement of civil judgments

From January 21, 2016, Joint Circular No. 17/2015/TTLT-BTP-BQP on state compensation during enforcement of civil judgments comes into force.  According to the Circular:

- Compensation during enforcement of civil judgments is determined according to:

+ The payroll if the individual earns his/her income from salaries.

+ Legitimate financial statements of the organization if it has income.

+ The claimant may request the compensating agency to collect documents and evidence that he/she is not able to collect as prescribed by law.

+ Read more in Article 14 of Circular 17/2015/TTLT-BTP-BQP .

- Circular No. 24/2011/TTLT-BTP-BQP shall apply to the claims for compensation accepted before January 21, 2016.

- Joint Circular No. 17/2015/TTLT-BTP-BQP shall apply to the claims filed before January 21, 2016 but has not been accepted.

This Joint Circular replaces Joint Circular No. 24/2011/TTLT-BTP-BQP .

4. State compensation in administrative management

Instructions on determination of damage in Joint Circular No. 18/2015/TTLT-BTP-BTC-TTCP providing guidance on provision of state compensation in administrative management:

- If the individual earns his/her income from salaries, the compensating agency shall determine damage according to the payroll.

- Income of an organization is determined according to its legitimate financial statements.

- If the damage is house rent, it shall be determined according to:

+ Documents for registration of temporary residence or a certification of the person's temporary residence in the leased house issued by the police authority of the commune.

+ The house lease contract which is made in compliance with regulations of law on lease of property or certified by the house owner.

Read more in Article 15 of Circular 18/2015/TTLT-BTP-BTC-TTCP .

This Joint Circular comes into force from January 28, 2016 and replaces Joint Circular No. 19/2010/TTLT-BTP-BTC-TTCP and Joint Circular No. 08/2013/TTLT-BTP-BTC-TTCP.

5. Conditions for issuance of securities practicing certificates

Circular No. 197/2015/TT-BTC on securities practice comes into force from January 25, 2016. According to the Circular:

- A certificate of securities broker shall be issued to any person that:

+ has legal personality and complete legal capacity; is not serving any imprisonment sentence or banned from practicing the court; and

+ has at least a bachelor's degree; and

+ passes the examination for the securities practicing certificate applied for; and

+ has securities qualifications.

- A certificate of financial analyzer shall be issued to any person that:

+ satisfies all conditions specified in Clause 1 Article 4 of this Circular; and

+ has qualifications in financial consultancy and securities issuance, analysis of financial statements of enterprises.

Circular No. 197/2015/TT-BTC places Decision No. 15/2008/QĐ-BTC and Circular No. 147/2012/TT-BTC .

6. Changes to deadlines for submitting applications for flight permits

According to Decree No. 125/2015/NĐ-CP providing for flight management, which comes into force from January 26, 2016, deadlines for submitting applications for flight permits are changed as follows:

- At least 10 working days before the intended flight date for regular flights.

- At least 07 working days before the intended flight date for the following flights:

+ Experiment, demonstration, training flights.

+ Flights serving scientific research, economics, culture, sports, tourism.

+ Flights of foreign military airplanes making commercial flights in Vietnam.

- At least 05 working days before the intended flight date for the following flights:

+ Flights of foreign special airplanes carrying guests of the Communist Party and the State, reconnaissance or escorting airplanes for such special airplanes, other foreign special airplanes and  reconnaissance or escorting airplanes for such special airplanes.

+ Additional inbound and outbound international flights.

+ Flights of non-commercial airplanes other than those specified above, etc.

Read more in the Government's Decree No. 125/2015/NĐ-CP which replaces Decree No. 94/2007/NĐ-CP.