Headlines 30/01/2019 08:04 SA

04 remarkable coming into force from the beginning of February 2019

Ngọc Duy

THƯ VIỆN PHÁP LUẬT would like to introduce 4 remarkable policies on finance, securities and education that come into force from the beginning of February 2019 (from February 1st to 10th, 2019):

1. New conditions for enterprises to issue non-convertible bonds

This is a remarkable content of Decree No.163/2018/ND-CP on issuance of corporate bonds which comes into force from February 01, 2019.

According to the Decree, an enterprise is entitled to issue non-convertible bonds or bonds without attached warrants if it:

- is a joint-stock company or limited liability company that has operated for at least 1 year from the issuance date of:

+ the first enterprise registration certificate; business registration certificate;

+ an equivalent license as regulated

 (Old regulations only required that the enterprise has operated for at least 1 year from its inauguration date.)

- has a plan for bond issuance approved by the competent authority and accepted by regulations;

- satisfy requirements for capital adequacy ratio for operation as regulated;

In addition to the aforementioned requirements, such enterprise shall:

- make the financial statement of the proceeding year of the issuance year which undergoes audit by a qualified audit institution as regulated;

- abide by limits on investor number when issuing and trading bonds as regulated;

- repay all principal and interest of bonds issued over the last 3 years prior to the new issuance (if any).

2. 05 conditions for conversion from electronic documents into physical documents

Decree No.165/2018/ND-CP on e-transactions in financial operations comes into force from February 10, 2019.

According to the Decree, a physical document converted from an electronic document shall satisfy 5 conditions (previously 3 conditions). For example:

- It sufficiently and accurately specifies contents of the electronic document;

- There is information showing that the document has been processed on the information system and showing name of the information system or name of the information system administrator;

- An identification number for the electronic document is available to serve the access to or verification of information or full name and signature of the person carrying out the conversion are available;

- Information can be accessed at any time during the normal operation of the information system.

3. New list of 13 national key agricultural products

This is a remarkable content of Circular No.37/2018/TT-BNNPTNT on the list of national key agricultural products.

According to the Circular, 13 national key agricultural products eligible for assistance policies as specified in Decree No.57/2018/ND-CP dated April 17, 2018 include: 

- Rice; coffee; rubber; cashew; pepper;

- Tea; vegetables; fruits and cassava and products thereof;

- Pork; meat and poultry eggs;

- Catfish; shrimps; woods and products thereof

Circular No.37/2018/TT-BNNPTNT comes into for from February 08, 2019.

4. New regulations on probationary period for teachers and lecturers   

Circular No.31/2018/TT-BGDDT on probationary period for teachers and lecturers in public educational institutions comes into force from February 08, 2019.

According to the Circular, in order to be appointed as teachers/lecturers, the employed individual shall spend a period of probation as follows:

- 12 months for level III teachers, level III upper-secondary school teachers and level III college preparatory school teachers (previously 9 months);

- 9 months for level III lower-secondary school teachers;

- 6 months for level IV pre-school teachers and level IV primary school teachers.

The aforesaid probationary periods shall apply from January 15, 2019; Circular No.05/2016/TT-BGDT dated March 21, 2016 shall apply to individuals employed before January 15, 2019.

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