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THE
MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No.
30/2006/QD-BTC
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Hanoi, May 12, 2006
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DECISION
SUPPLEMENTING THE REGULATION ON ORGANIZATION AND OPERATION OF
SECURITIES INVESTMENT FUNDS AND FUND MANAGEMENT COMPANIES, PROMULGATED TOGETHER
WITH THE FINANCE MINISTER'S DECISION NO. 73/2004/QD-BTC OF SEPTEMBER 3, 2004
THE MINISTER OF FINANCE
Pursuant to
the Government's Decree No. 77/2003/ ND-CPofJuly 1, 2003, defining the
functions, tasks, powers and organizational structure of the Ministry of
Finance;
Pursuant to the Government's Decree No. 144/ 2003/ND-CP of November 28, 2003,
on securities and securities market;
At the proposal of the chairman of the State Securities Commission,
DECIDES:
Article 1.- To
supplement Article 12a prescribing public funds' increase of capital to Chapter
II of the Regulation on organization and operation of securities investment
funds and fund management companies, promulgated together with the Finance
Minister's Decision No. 73/2004/QD-BTC of September 3,2004, as follows:
1. Conditions
for public funds' increase of capital
a/ The increase
of capital is provided for in the fund's charter;
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c/ The fund
management company neither faces any administrative sanction nor commits any
criminal violation within two years;
d/ Fund
certificates are issued to the fund's current investors under the form of the
right to buy fund certificates. The fund certificate price for the fund's
current investors is decided by the investors' congress on the basis of the
fund's net asset value.
e/The plan on
additional issuance of fund certificates must be fair and transparent, protect
the investors' benefits, observe law provisions and be approved by the
investors' congress.
2. Dossiers of
application for permission for public funds' increase of capital
2.1. Dossiers
of application for permission for public funds' increase of capital shall
consist of:
a/Application
for permission for public funds' capital increase;
b/ The draft prospectus which
clearly describes the plan on additional issuance of fund certificates and the plan
on the use of capital raised from the additional issuance of fund certificates;
c/ The
resolution of the investors' congress approving the increase of capital and the
plan on additional issuance of fund certificates to increase capital;
d/ The
issuance-underwriting contract (if any);
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f/
Certification of the supervisory bank on the public fund's observation of
current laws.
2.2. Within 30
working days from the date of receiving valid dossiers, the State Securities
Commission shall issue written notices on the acceptance of the public fund's
increase of capital. In case of refusal, the State Securities Commission shall
issue written replies, stating the reasons.
3. Distribution
of fund certificates
Fund
certificates issued additionally shall be distributed according to Article 7 of
the Finance Minister's Decision No. 73/2004/QD-BTC of September 3, 2004,
promulgating the Regulation on organization and operation of securities
investment funds and fund management companies.
4. Report on
result of the public fund's drive of capital increase
Within 10
working days from the closing date of the additional issuance of fund
certificates to increase capital, the fund management company shall report on
the result of the issuance drive to the State Securities Commission according
to Article 9 of Decision No. 73/ 2004/QD-BTC and announce in the mass media the
total number of fund units sold, the number of investors owning fund units, and
the total additional capital raised. The fund management company shall disclose
information on the securities investment fund according to the Finance
Minister's Circular No. 57/2004/TT-BTC of June 17,2004, guiding the disclosure
of information on the securities market.
Article 2.- This
Decision takes effect 15 days after its publication in "CONG BAO."
Article 3.- The
chairman of the State Securities Commission, the director of the Office of the
Finance Ministry, fund management companies and concerned parties shall have to
implement this Decision.
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FOR
THE FINANCE MINISTER
VICE MINISTER
Tran Xuan Ha