THE GOVERNMENT
--------
|
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
---------------
|
No. 151/2018/ND-CP
|
Hanoi, November 07, 2018
|
DECREE
AMENDMENTS TO SOME DECREES ON
BUSINESS CONDITIONS UNDER THE MANAGEMENT OF THE MINISTRY OF FINANCE
Pursuant
to the Law on Government Organization dated June 19, 2015;
Pursuant
to the Law on Securities dated June 29, 2006 and Law on amendments to some
Articles of the Law on Securities dated November 24, 2010;
Pursuant
to the Law on Insurance Business dated December 09, 2000 and Law on amendments
to some Articles of the Law on Insurance Business dated November 24, 2010;
Pursuant
to the Law on Independent Audit dated March 29, 2011;
Pursuant
to the Law on Prices dated June 20, 2012;
Pursuant
to the Law on Accounting dated November 20, 2015;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Pursuant
to the Law on amendments to Article 6 and Appendix 4 on the list of conditional
business lines stipulated in the Law on Investment dated November 22, 2016;
Pursuant
to the Law on Enterprises dated November 26, 2014;
At the
request of the Minister of Finance;
The
Government hereby promulgates a Decree on amendments to some Decrees on
business conditions under the management of the Ministry of Finance.
Chapter I
ACCOUNTING AND AUDITING
Article 1. Amending and repealing some Articles of the
Decree No. 84/2016/ND-CP dated July 01, 2016 on standards and conditions to be
satisfied by eligibility requirements for practicing auditors and auditing
firms accredited to provide audit services for public interest entities
1. Some
Articles of the Decree No. 84/2016/ND-CP dated July 01, 2016 are amended as
follows:
a) Point
dd Clause 1 of Article 5 is amended as follows:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
b) Points
b and c Clause 2 of Article 5 are amended as follows:
“b) It
has operated in Vietnam for at least 24 months from the date on which the
initial list of practicing auditors is approved by a competent authority or an
initial certificate of eligibility for provision of audit services is issued to
the submission date of application;
c) At
least 250 entities receive audit reports on their annual financial statements
issued by the auditing firm from October 01 of the previous year to September
30 of the year in which the application for registration is submitted.”
2. Some
Articles of the Decree No. 84/2016/ND-CP dated July 01, 2016 are repealed as
follows:
a) Points
a, e, g, h and i Clause 1 of Article 5 are repealed.
b) Clause
2, Point g Clause 4 and Clause 5 of Article 9 are repealed.
Article 2. Repealing some Articles of the Decree No.
174/2016/ND-CP dated December 30, 2016 on elaboration of some article of the
Law on Accounting
1. Points
b, d and dd Clause 1 of Article 30 are repealed.
2. Points
b and d Clause 1 of Article 34 are repealed.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
1. Clause
2 of Article 6 is repealed.
2. Points
b, dd and g Clause 1 of Article 11 are repealed.
Chapter II
LOTTERY, PRIZE-REWARDING ELECTRONIC GAMES
FOR FOREIGNERS, CREDIT RATING SERVICES, CASINO, BETTING AND VOLUNTARY
RETIREMENT FUND MANAGEMENT SERVICES
Article 4. Amending and repealing some Articles of the
Government’s Decree No. 30/2007/ND-CP dated March 01, 2007 on lottery business
1. Point
a Clause 2 of Article 12 is amended as follows:
“a)
Regarding an individual, he/she must be a Vietnamese citizen who permanently
resides in Vietnam. Regarding an organization, it must be a business entity
legally established and operating in Vietnam;”
2. Clause
2 of Article 23 is repealed.
Article 5. Repealing Clause 9 Article 1 of the Government’s
Decree No. 78/2012/ND-CP dated October 05, 2012 on amendments to some Articles
of the Government’s Decree No. 30/2007/ND-CP dated March 01, 2007 on lottery
business.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
1. Some
Articles of the Government’s Decree No. 86/2013/ND-CP dated July 29, 2013 are
amended as follows:
a) Points
b and c Clause 2 of Article 5 are amended as follows:
“b) It is
required to install electronic equipment and camera system for constant
monitoring and surveillance of all activities carried out within the business
location (24/24h). All footages must be stored within at least 15 days from the
recording date. All footages recorded at the entrance gate, in areas where
prize-rewarding electronic gaming machines are located, checkout counter and
areas where cash or tokens are converted and cash and token containers are
located must be stored within at least 30 days from the recording date;
c) It is
required to satisfy security and order conditions as prescribed by the law on
security and order conditions for some business lines subject to conditions;”
b) Clause
1 of Article 19 (amended in Clause 6 Article 1 of the Government’s Decree No.
175/2016/ND-CP dated December 30, 2016 on amendments to some Articles specified
in the Government’s Decree No. 86/2013/ND-CP dated July 29, 2013 on the
business of prize-rewarding electronic games for foreigners) is amended as
follows:
“1. A
company shall only qualify for the certification of eligibility for
prize-rewarding electronic gaming business after registering for conducting the
prize-rewarding electronic gaming business pursuant to the Law of Investment
and the Enterprise Law and satisfying all conditions specified in Clause 3 of
this Article.”
c) Point
c Clause 3 of Article 19 is amended as follows:
“c) There
are persons in charge of managing or controlling the casino. Such persons must
obtain at least a bachelor’s degree and have at least 03 years of experience in
the management of business of prize-winning electronic games.”
d) Point
e Clause 3 of Article 19 is amended as follows:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
dd)
Clause 9 of Article 20 is amended as follows:
“9. A
business plan contains at least: targets, quantity and categories of
prize-rewarding electronic games, expected needs for foreign currency receipt
and spending, measures to assure security and social order of the business
location and methods for implementing the plan."
2. Point
d Clause 3 of Article 19 is repealed.
Article 7. Amending and repealing some Articles of the
Government’s Decree No. 88/2014/ND-CP dated September 26, 2014 on credit rating
services
1.
Clauses 7 and 8 Article 14 of the Government’s Decree No. 88/2014/ND-CP dated
September 26, 2014 are amended as follows:
“7. Have
a business process satisfying regulations in Article 31 of this Decree.
8. Have a
business plan made in accordance with Article 8 of this Decree and containing
at least:
a)
Expected revenues and operating costs;
b)
Expected data sources to be used.”
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
a)
Clauses 1 and 10 of Article 14 are repealed;
b) Clause
2 of Article 15 is repealed;
c)
Clauses 1 and 2 of Article 19 are repealed;
d) Clause
1 of Article 20 is repealed;
dd)
Clause 1 of Article 21 is repealed.
Article 8. Amending and repealing some Articles of the
Government’s Decree No. 03/2017/ND-CP dated January 16, 2017 on casino business
1. Point
d Clause 1 of Article 24 is amended as follows:
“d) There
are persons in charge of managing or controlling the casino. Such persons must
obtain at least a bachelor’s degree and having at least 1 year of experience in
the management of casino business.”
2. Clause
3 of Article 24 is repealed.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
1. Some
Articles of the Government’s Decree No. 06/2017/ND-CP dated January 24, 2017
are amended as follows:
a) Points
d and e Clause 1 of Article 30 are amended as follows:
“d) A
plan on investment in the technological system, technical equipment and
business software to ensure their accurate, safe and stable operation;
e) A
commitment to community assistance.”
b) Points
b and dd Clause 2 of Article 38 are amended as follows:
“b) A
plan on investment in the technological system, technical equipment and
business software to ensure their accurate, safe and stable operation;
dd) A
commitment to community assistance.”
2. Some
Articles of the Government’s Decree No. 06/2017/ND-CP dated January 24, 2017
are repealed as follows:
a) Point
dd Clause 1 of Article 30 is repealed.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Article 10. Amending and repealing some Articles of the
Government’s Decree No. 88/2016/ND-CP dated July 01, 2016 on voluntary
supplemental retirement program
1. Some
Articles of the Government’s Decree No. 88/2016/ND-CP dated July 01, 2016 are
amended as follows:
a) Point
e Clause 4 of Article 16 is amended as follows:
“e) The
supervisory bank is allowed to provide other services to the retirement fund
that is a party of the supervisory contract but is required to separate
organizational structures of divisions in charge;”
b) Clause
2 of Article 34 is amended as follows:
“2. A
retirement fund management company must not be in the restructuring planning
upon regulatory body’s decision.”
2. Some
Articles of the Government’s Decree No. 88/2016/ND-CP dated July 01, 2016 are
repealed as follows:
b) Point
b Clause 5 of Article 34 is repealed.
b) Point
b Clause 4 of Article 35 is repealed.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
INSURANCE BUSINESS
Article 11. Amending and repealing some Articles of the
Decree No. 73/2016/ND-CP dated July 01, 2016 on guidelines for the
implementation of the Law on Insurance Business and the Law on amendments to
some Articles of the Law on Insurance Business
1. Some
Articles of the Decree No. 73/2016/ND-CP dated July 01, 2016 are amended as
follows:
a) Point
a Clause 1 of Article 6 is amended as follows:
“c.
Corporate investors contributing to at least 10% of the charter capital are
required to have conducted a profitable business in 03 consecutive years
immediately preceding the year in which the application for licensing is
submitted;”
b) The
text of the second dash in Point a Clause 1 of Article 7 is amended as follows:
Have
operated for at least 7 years in the sector of business in which they intend to
engage in Vietnam;”
c) The
text of the fourth dash in Point a Clause 1 of Article 7 is amended as follows:
Have not
seriously violated any laws on insurance business of the home country for 03
consecutive years immediately preceding the year in which the application for
licensing is submitted.”
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
“a) At
least 02 shareholders are organizations, which meet the requirements stated in
Clause 1 Article 7 of this Decree and together hold at least 20% of shares in
the insurance joint-stock company to be incorporated;”
dd) Point
dd Clause 2 of Article 8 is amended as follows:
“dd) Have
undertaken in writing to assume liability for all duties and commitments of the
branches in Vietnam;”
e) Points
b and c Clause 2 of Article 9 are amended as follows:
“b) Have
operated for at least 7 years in the sector of insurance brokerage.
c) Have
not seriously violated any laws on insurance brokerage of the home country for
03 consecutive years immediately preceding the year in which the application
for licensing is submitted.”
g) Point
d Clause 10 of Article 11 is amended as follows:
“d) No
serious violation of the foreign organization of any laws on insurance business
in its home country for 03 consecutive years immediately preceding the year in
which the application for licensing is submitted.”
h) Point
d Clause 11 of Article 12 is amended as follows:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
i) Point
d Clause 8 of Article 13 is amended as follows:
“d) No
serious violation of the foreign non-life insurance enterprise of any laws on
insurance business of its home country for 03 consecutive years immediately
preceding the year in which the application for licensing is submitted.”
k) Clause
9 of Article 13 is amended as follows:
“9. The
written undertaking(s) of the foreign non-life insurance enterprise as per
Clause 2 Article 8 of this Decree.”
l) Point
c Clause 10 of Article 14 is amended as follows:
“c) No
serious violation of the foreign organization of any laws on insurance
brokerage in its home country for 03 consecutive years immediately preceding
the year in which the application for licensing is submitted.”
2. Some
Articles of the Decree No. 73/2016/ND-CP dated July 01, 2016 are repealed as
follows:
a) Point
a of Clause 1, and Clause 2 of Article 6 are repealed;
b) The
text of the first dash in Point b of Clause 1, and Point b Clause 2 of Article
7 are repealed;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
d) Point
a Clause 8 of Article 13 is repealed;
dd)
Points a and c Clause 1; Points a and c Clause 2; Point b Clause 3; Points a
and b Clause 4 of Article 86 are repealed.
Chapter IV
VALUATION
Article 12. Amending Clause 1 Article 18 of the
Government’s Decree No. 89/2013/ND-CP dated August 06, 2013 on guidelines for
implementation of Law on Prices regarding valuation
“1. The
total stake of the shareholder that is an organization or of the contributing
member that is an organization must not exceed 35% of charter capital of the
valuation joint-stock company or valuation multi-member limited liability
company.”
Chapter V
SECURITIES TRADING
Article 13. Amending some Articles of the Government’s Decree
No. 58/2012/ND-CP dated July 20, 2012 on guidelines for implementation of the
Law on Securities and the Law on amendments to some Articles of the Law on
Securities
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
“b)
Proprietary trading: VND 50 billion;”
2. Point
b Clause 6 of Article 71 is amended as follows:
“b) The
organization has conducted a profitable business during the latest 2 years. In
addition:
In case
the organization is a commercial bank, insurance enterprise or
securities-trading organization, it must not be under operational control,
special control or other warning status and must fulfill all conditions to
contribute capital and make investment in accordance with applicable laws.
In case
the organization is another business entity:
- It has
operated for at least 05 consecutive years immediately preceding the year in
which it contributes capital for establishment of the securities-trading
organization.
- After
deducting long-term assets, the remaining of the equity is at least equal to
the intended contribution;
- The
working capital is at least equal to the intended contribution.”
3. Point
a Clause 1 of Article 74 is amended as follows:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
4. Clause
2 of Article 74 is amended as follows:
“2. The
foreign securities-trading organization providing securities brokerage services
is entitled to establish a representative office of the securities company in
Vietnam if the conditions mentioned in Points a and b Clause 1 of this Article
are met.”
Article 14. Amending and repealing some Articles of the
Government’s Decree No. 86/2016/ND-CP dated July 01, 2016 on requirements for
investment and trading in securities
1. Some
Articles of the Government’s Decree No. 86/2016/ND-CP dated July 01, 2016 are
amended as follows:
a) Clause
1 of Article 5 is amended as follows:
“1.
Requirements pertaining to premises, facilities and equipment:
Have
premises ensuring securities trading; adequate facilities, office equipment,
computer and software system for investment analysis, risk analysis and
management, storage of documents and equipment, and equipment for assurance of
security in premises of the company in accordance with regulations on business
process. Securities underwriting service and securities investment consulting
services are not required to satisfy the requirements pertaining to equipment.”
b) Points
a, b and d Clause 3 of Article 5 are amended as follows:
“a)
He/she is not facing a criminal prosecution or serving an imprisonment sentence
or is prohibited from business practicing job by a court as prescribed by law;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
d) He/she
is not facing penalty/penalties as prescribed by laws on securities and
securities market within the latest 06 months from the submission date of
application;”
c) Point
b Clause 1 of Article 8 is amended as follows:
“b) It is
not in the state of warning, control, special control, mandatory suspension,
voluntary suspension, consolidation, acquisition, dissolution, or bankruptcy;
d) Points
a and d Clause 4 of Article 8 are amended as follows:
“a) It is
licensed to provide securities brokerage, proprietary trading and securities
underwriting services and has its provision of day trading service adopted by
the Board of Directors or Board of Members or owner(s) of the securities
company;
d)
Liquidity ratio accounts for at least 220% in the latest 06 consecutive months
by the time of registration of day trading services.”
dd) Point
a Clause 1 of Article 10 is amended as follows:
“a) It is
operating legally, not in the state of consolidation, merger, full division,
partial division, dissolution, or bankruptcy; is licensed to provide securities
trading services that are expected to register for the branch in Vietnam; the
securities authority of the home country has signed bilateral or multilateral
arrangements with SSC of Vietnam;”
e) Point
b Clause 3 of Article 11 is amended as follows:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
g) Clause
4 of Article 11 is amended as follows:
“4. Requirements
pertaining to shareholders and contributing members:
Structure
of shareholders and conditions to be satisfied by contributing members shall
comply with Clauses 5, 6, 8 and 10 Article 71 of the Decree No.58/2012/ND-CP
and regulations on foreign contractors in Clauses 21 and 24 Article 1 of the
Decree No. 60/2015/ND-CP. In the cases where the fund management company is
structured in the form of a single member limited liability company, the owner
must be a commercial bank, an insurer, a securities company or a foreign
organization satisfying the requirements prescribed in Article 4 of this
Decree.”
2. Some
Articles of the Government’s Decree No. 86/2016/ND-CP dated July 01, 2016 are
repealed as follows:
a) Point
dd of Clause 3, and Point a Clause 4 of Article 5 are repealed;
b) Points
c and d Clause 1 of Article 8 are repealed;
c) Point
d Clause 3 of Article 11 is repealed;
d) Clause
1 of Article 12 is repealed;
dd) Point
c of Clause 1, and Point a Clause 2 of Article 13 are repealed;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
g) Clause
4 of Article 17 is repealed;
h)
Clauses 3 and 4 of Article 18 are repealed;
i)
Article 19 is repealed.
Chapter VI
IMPLEMENTATION CLAUSE
Article 15. Effect and transitional clauses
1. This
Decree comes into force from the date on which it is signed.
2.
Organizations and individuals that have submitted applications for the
certificates of eligibility for business in the fields of accounting, auditing,
valuation, lottery, prize-rewarding electronic games for foreigners, casino,
betting, credit rating services and voluntary retirement fund management
services; establishment licenses and licenses to operate in the fields of
insurance business and securities trading; certificate of registration of
representative office of the foreign securities-trading organization; for
approval for margin trading or day trading by securities companies; for
approval for provision of audit services for public interest entities by
auditing firms before the effective date of this Decree but have not yet been
granted the certificate/license or approval are entitled to apply business
conditions mentioned in this Decree.
3.
Ministers, heads of ministerial agencies, heads of Governmental agencies and Chairmen/Chairwomen
of People’s Committees of provinces and central-affiliated cities shall provide
guidelines and implement this Decree./.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
ON BEHALF OF THE GOVERNMENT
THE PRIME MINISTER
Nguyen Xuan Phuc