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THE STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No.
47/2006/QD-NHNN
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Hanoi, September 25, 2006
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DECISION
ON
THE AMENDMENT, SUPPLEMENT OF SEVERAL ARTICLES OF THE REGULATION ON SAVINGS
DEPOSITS ISSUED IN CONJUNCTION WITH THE DECISION NO. 1160/2004/QD-NHNN DATED
13/9/2006 OF THE GOVERNOR OF THE STATE BANK
THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on the State Bank of Vietnam issued in 1997 and
the Law on the amendment, supplement of several articles of the Law on the
State Bank of Vietnam issued in 2003;
- Pursuant to the Law on Credit Institutions issued in 1997 and the Law on the
amendment, supplement of several articles of the Law on Credit Institutions
issued in 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19/5/2003 of the Government
providing for the functions, assignments, authority and organizational
structure of the State Bank of Vietnam;
Upon the proposal of the Director of the Monetary Policy Department,
DECIDES:
Article 1. To amend, supplement several articles of the Regulation
on savings deposits issued in conjunction with the Decision No.
1160/2004/QD-NHNN dated 13/9/2004 of the Governor of the State Bank as follows:
1. Paragraph 9 in Article 6
shall be amended, supplemented as follows:
“9. Time savings deposit is the
savings deposit that a depositor makes agreement with the savings deposit
receiving organization about a certain deposit term”.
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“a. Depositors shall directly
perform deposit transactions at a savings deposit receiving organization and
present following documents:
- Identity card or passport of
which the effective term has not yet expired for depositors, who are Vietnamese
individuals; passport together with visa of which the effective term has not
yet expired for depositors, who are foreign individuals; if those depositors
are exempted from the visa in case of immigration in accordance with provisions
of applicable laws on immigration, a passport with the remaining effective term
is required.
- For depositors, who are
administrators or legal representatives, apart from the presentation of
identity card or passport of which the effective term has not yet expired,
documents proving the status of the lawful administrators and representatives
of under-age persons, persons who have lost the civil act capability, persons
whose civil act capability is limited, shall be required.
- For the individual who is
fully fifteen to under eighteen, but has own assets, in addition to the
identity card or passport with effective term, he also has to present documents
proving that deposits at the bank is his own assets, such as documents on the
inheritance, donation or other documents proving the amount deposited at the
bank to be his own assets.”
3. Point c Paragraph 1 in
Article 15 shall be amended, supplemented as follows:
“c. Vietnamese individuals are
required to present identity card or passport with effective term; depositors
who are foreign individuals are required to present passport together with visa
of which the effective term has not yet expired; if those depositors are
exempted from the visa in case of immigration in accordance with provisions of
applicable laws on immigration, a passport with the remaining effective term is
required”
4. Paragraph 2 and Paragraph 3
in Article 16 shall be amended, supplemented as follows:
“2. In the event where the
depositors, who have a demand for the withdrawal of savings deposit before the
maturity date, fully satisfy provisions in Paragraph 1, Article 16, they shall
be entitled to enjoy interests according to provisions of the savings deposit
receiving organization.
3. In the event where the
depositors, who have a demand for the withdrawal of savings deposit before the
maturity date, fail to satisfy provisions in Paragraph 1, Article 16, the
savings deposit receiving organization may permit them to withdraw the deposit
before the maturity date. In this case, the depositors shall be entitled to enjoy
the interest in accordance with provisions in Paragraph 2 Article 16; the
saving deposits receiving organization shall be entitled to stipulate the fee
level for the deposit which is withdrawn before the maturity date.”
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“2. When using the savings card
as mortgage asset, the owner or co-owner of the savings deposit must undertake
that in case where the debt repayment term expires but he fails to make
repayment of debt, the lending credit institution shall have the right to
request the savings deposit receiving organization to transfer the savings
deposit of the borrower to the lending credit institution for the debt
collection.”
6. Paragraph 1 Article 22 shall
be amended, supplemented as follows:
“1. The savings deposits
receiving organization may stipulate the fee level for the receipt or payment
of the savings deposits.”
Article 2. This Decision shall be effective after 15 days since its
publication in the Official Gazette.
Article 3. Savings deposits deposited before the effective date of
this Decision, but do not yet become due, the savings deposits receiving
organization and the depositors shall continue complying with the committed
agreements till the maturity date of the savings deposits or parties may make
agreement to comply with provisions of this Decision.
Article 4. Director of Administrative Department, Heads of units of
the State Bank; Manager of State Bank branches in provinces, cities under the
Central Government’s management; Chairperson of the Board of Directors, General
Director (Director) of savings deposits receiving organizations and depositors
shall be responsible for the implementation of this Decision.
FOR THE
GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR
Nguyen Dong Tien
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