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THE
PRIME MINISTER OF GOVERNMENT
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
75/2000/QD-TTg
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Hanoi,
June 28, 2000
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DECISION
RATIFYING THE ORGANIZATION AND OPERATION CHARTER OF VIETNAM DEPOSIT
INSURANCE
THE PRIME MINISTER
Pursuant to the Law on Organization of the
Government of September 30, 1992;
Pursuant to the Government’s Decree No .89/1999/ND-CP of September 1st, 1999 on
deposit insurance;
Pursuant to the Prime Minister’s Decision No. 218/1999/QD-TTg of November 9,
1999 on the establishment of Vietnam Deposit Insurance;
At the proposals of Vietnam State Bank Governor and Vietnam Deposit Insurance�s
Managing Board,
DECIDES:
Article 1.- To ratify
the Organization and Operation Charter of Vietnam Deposit Insurance, enclosed
herewith.
Article 2.- This
Decision takes effect after its signing.
Article 3.- The
ministers, the heads of the ministerial-level agencies, the heads of the
agencies attached to the Government, the presidents of the People’s Committees
of the provinces and centrally-run cities and the chairman of the Managing
Board of Vietnam Deposit Insurance shall have to implement this Decision.
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FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER
Nguyen Tan Dung
CHARTER
ON ORGANIZATION AND OPERATION OF VIETNAM DEPOSIT INSURANCE
(Issued together with the Prime Minister’s Decision No. 75/2000/QD-TTg of
June 28, 2000)
Chapter I
GENERAL PROVISIONS
Article 1.- Vietnam
Deposit Insurance is a State-run financial organization set up under the Prime
Minister’s Decision No. 218/1999/QD-TTg of November 9, 1999, with a view to
protecting the legitimate rights and interests of money depositors,
contributing to maintaining the stability of organizations participating in
deposit insurance as well as the safe and healthy development of banking
operations.
Article 2.- Vietnam
Deposit Insurance has its international transaction name in English as Deposit
Insurance of Vietnam, abbreviated to DIV.
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Article 4.- DIV operates
for non-profit purposes, ensuring the capital safety, self-financing and
enjoying tax exemption according to law provisions.
Article 5.- DIV is
managed and administered by the Managing Board, the Control Commission and the
general director.
Article 6.- The
Communist Party of Vietnam organization as well as socio-political
organizations within DIV shall operate according to the Constitution and law.
Chapter II
CONTENTS OF OPERATION,
TASKS AND POWERS
SECTION I. CONTENTS OF
OPERATION
Article 7.- DIV may
conduct the following professional operations:
1. Collecting the deposit insurance premiums
from the deposit insured.
2. Paying insurance to money depositors.
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4. Lending capital in support of, and providing
guaranty for, the deposit insured to borrow capital for deposit payment, and
buying debts of the deposit insured in case such debts are secured by
properties under the provisions of the Government’s Decree No.89/1999/ND-CP of
September 1st, 1999. The total capital amount used for the performance of these
operations shall be decided by DIV’s Managing Board.
5. Borrowing capital from credit institutions
and other organizations to settle temporary difficulties regarding its
operating capital. When necessary, such capital borrowing shall be effected
with the Government’s guaranty.
6. Receiving financial supports from
organizations and individuals inside and outside the country to enhance its
operating capacity.
7. In special cases of lacking operating
capital, borrowing or receiving the special support capital from the State’s
source.
8. Buying the Government bonds and the State
Bank or State credit institutions’ bonds and credit bills; depositing money at
the State Treasury, Vietnam State Bank or State-run credit institutions in
order to ensure the capital safety, capital preservation and cover expenses.
The use of its idle capital for investment in the above-mentioned bonds and
bills shall be decided by DIV’s Managing Board.
9. Organizing propagation on deposit insurance
to the public; guiding, training and providing consultancy on deposit insurance
operations as well as operations related to deposit insurance. providing
information exchange services for DIV’s operations.
10. Carrying out other operations when permitted
by the Prime Minister.
SECTION II. TASKS AND POWERS
Article 8.- DIV has the
tasks to:
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2. Fulfill commitments on insurance payment to
money depositors when a deposit insured has to terminate its operations under
the written decision of the competent State agency and falls into the
insolvency.
3. Fulfill commitments to the deposit insured
and other commitments which fall under DIV’s responsibility.
4. Operate in strict compliance with the
Government’s stipulations on deposit insurance and this Charter; take
responsibility for the results of the deposit insurance activities; keep secret
the deposit data and documents related to deposit insurance of the deposit
insured according to law provisions.
5. Elaborate the development strategy and
operation plan on deposit insurance in conformity with the tasks assigned by the
Prime Minister.
6. Study and propose to the competent State
agencies the promulgation or amendment and/or supplement of the regulations
related to deposit insurance activities as well as regulations on safety in
banking operations.
7. Renovate and modernize technologies and
managerial mode in conformity with the development requirements of DIV.
8. Perform the obligations towards laborers
according to the provisions of law.
9. Submit to the inspection and abide by the
regulations on examination, inspection and audit by the competent State
agencies according to the provisions of law.
10. Observe the State’s regulations on the
management of capital, assets and funds as well as the accounting, auditing,
statistical and reporting regimes and take responsibility for the accuracy of
the reports thereon.
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1. To manage and use its charter capital;
capital supplemented from the source of insurance premiums collected from the
deposit insured as well as the sources of capital received and borrowed
according to regulations.
2. To assign, lease, mortgage or pledge assets
under its management according to law provisions.
3. To request the deposit insured to regularly
or irregularly provide documents, information and reports on their operation
and business situation; to apply measures for handling the violations of
regulations on safety in banking operations and the danger of insolvency.
4. To conduct the regular or irregular
inspection of the observance of the Government’s regulations on deposit
insurance as well as the regulations on safety in operations of the deposit
insured.
5. To propose the State Bank to take measures
for dealing with the deposit insured that violate the regulations on safety in
banking operations and are in danger of insolvency.
6. To terminate the deposit insurance for the
deposit insured that violate the provisions of Clause 1, Article 10 of the
Government’s Decree No.89/1999/ND-CP of September 1st, 1999 on deposit
insurance.
7. To take part in the management and
liquidation of assets of the bankrupt deposit insured.
8. To propose the competent State agencies to
elaborate, amend and/or supplement undertakings and policies on deposit
insurance.
9. To cooperate with domestic and foreign
organizations in order to enhance the operational capacity of DIV and the
deposit insured.
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11. To exercise other rights and powers provided
for by law.
Chapter III
ORGANIZATION, MANAGEMENT
AND ADMINISTRATION
Article 10.- DIV’s
organizational apparatus is composed of the Managing Board, the Control
Commission and the executive apparatus, comprising the general director and the
assisting apparatus.
Section I. MANAGING BOARD AND
CONTROL COMMISSION
Article 11.- The
Managing Board shall perform the management function and take responsibility
for annual operations of DIV according to the provisions of this Charter.
Article 12.- Tasks and
powers of the Managing Board
1. To receive capital, land and other resources
assigned by the State.
2. To submit to the Prime Minister for
ratification the long-term deposit insurance development strategy.
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4. To approve and submit to the Prime Minister
for ratification the plan on borrowing and using the Government’s special
support capital as well as the plan on adjusting the deposit insurance premium
and the maximum insured deposit amount.
5. To ratify the annual operation plan of DIV;
and the plan on borrowing and using capital borrowed from other organizations.
6. To approve the plan on support for the
deposit insured as well as plan on the payment of insurance money at the
deposit insured which are declared to terminate their operations and insolvent.
7. To approve the plan on investment of the
temporarily idle capital as prescribed by the Charter as well as the financial
management regulations.
8. To decide or submit to the State Bank
Governor for decision the plan on cooperation with domestic and foreign
organizations.
9. To give its opinions or propose to the
Ministry of Finance and the Ministry of Labor, War Invalids and Social Affairs
to submit such opinions to the Prime Minister for ratification or adjustment of
the DIV’s financial and wage regimes.
10. To decide or propose commendation and reward
for organizations and individuals that make great contributions to DIV; to
commend and reward units and individuals within DIV; to approve and supervise
the implementation of the labor and wage regulations within DIV.
11. To propose the State Bank Governor and the
Minister-Head of the Government Commission for Organization and Personnel to
submit to the Prime Minister the appointment, dismissal, commendation or
discipline of members of the Managing Board and the general director. To submit
to the State Bank Governor the appointment, dismissal, commendation or
discipline of the deputy general directors of DIV.
12. To ratify the plan on organization of DIV’s
executive apparatus and payroll; to decide the opening of DIV’s branches and
representative offices as well as the section assisting the Managing Board; to
decide the appointment, dismissal, commendation or discipline of members of the
Control Commission, directors of branches and representative offices of DIV.
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14. To approve DIV’s annual financial statements
and operation reports.
15. To ratify the operation plan of the Control
Commission.
16. To issue regulations on internal protection
and confidentiality in the operations of DIV.
17. To handle complaints and denunciations
related to DIV according to its competence or report such to the competent
authorities for handling.
18. To ratify the scientific- technical research
and cooperation programs in service of the deposit insurance activities; to
organize the personnel training and fostering.
19. To issue the Regulation on organization and
operation of DIV’s Managing Board.
20. To ratify and decide other issues according
to its competence.
Article 13.-
Organizational structure and working regime of the Managing Board
1. DIV’s Managing Board is composed of 5
members, including 3 full-time members being its chairman, the general director
and the head of the Control Commission; and 2 part-time members being a
Vice-Minister of Finance and a Deputy Governor of the State Bank.
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a/ He/she gets a decision on retirement, job
transfer or other posting;
b/ He/she asks for resignation with plausible
reasons;
c/ He/she is no longer capable of performing
his/her duty;
d/ He/she has breached law or DIV’s Charter.
3. The chairman of the Managing Board shall have
to organize the performance of tasks and exercise of powers of the Managing
Board as prescribed in Article 12 of this Charter.
4. Working regime of the Managing Board:
a/ The Managing Board adopts the collective
working regime and regularly meets at least once a quarter to consider and
decide matters within its tasks and powers. When necessary, the Managing Board
may hold extraordinary meetings at the request of its chairman or the general
director, or the head of the Control Commission or at the request of other
member(s), with the consent of the chairman;
b/ The chairman of the Managing Board shall
convene and chair all its meetings. In case of his absence with plausible
reasons, the chairman may authorize another member of the Managing Board to
convene and chair a meeting. Where a meeting is necessary but cannot be held,
the chairman of the Managing Board may ask for written opinions of the other
members;
c/ All meetings of the Managing Board must be
attended by at least 4/5 of the total of its members;
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If a member of the Managing Board disagrees with
the Managing Board’s resolution(s) or decision(s), he/she may reserve his/her
opinion but still has to abide by such resolution(s) or decision(s) and can
report such to the competent State agency for settlement.
The contents and conclusions of a meeting of the
Managing Board must be recorded in a minutes signed by the meeting’s chairman
as well as the head of the Control Commission or another member of the Managing
Board who is present at the meeting;
e/ When DIV’s Managing Board meets to consider
issues related to different ministries and/or branches, it may invite competent
representatives of such ministries or branches to attend the meeting;
f/ The resolutions and decisions of the Managing
Board shall be binding to all units (departments and sections at the head
office in Hanoi, branches and representative offices) and individuals within
DIV;
g/ The expenses for operations of the Managing
Board, the Control Commission as well as the assisting section of the Managing
Board, including wages, allowances and other operational expenses, shall be
accounted into DIV’s managerial costs. The general director shall ensure
necessary working conditions and facilities for the Managing Board, the Control
Commission and the assisting section.
5. The Managing Board shall use the DIV’s
executive apparatus and seal to perform its tasks.
Article 14.- Assisting
section of the Managing Board
The Managing Board shall set up an assisting
section composed of no more than 5 full-time and a number of part-time cadres
who shall assist the part-time members of the Managing Board. The chairman of
the Managing Board shall decide, select, replace, reward or discipline the
personnel and determine the functions as well as tasks for the assisting
section of the Managing Board.
Article 15.- Interests
and responsibilities of members of the Managing Board
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2. The members of the Managing Board must not:
a/ Abuse their positions for self-seeking or
commit acts of appropriating operational opportunities and causing harm to
DIV’s interests;
b/ Act beyond their competence provided for in
this Charter.
3. The chairman of the Managing Board and the
general director of DIV are not allowed to:
a/ Set up enterprises in their own names, and
take part in the management and administration of such enterprises;
b/ Establish, in the name of DIV, relations
through economic contracts with private enterprises, limited liability
companies, joint-stock companies or partnerships where their husbands, wives,
parents or offspring hold the managerial or executive positions.
4. The wives, husbands, parents, offspring and
siblings of the chairman or members of DIV’s Managing Board or general director
are not allowed to hold the positions of chief accountant and cashier of DIV.
5. Members of the Managing Board shall take
responsibility before law for resolutions and decisions of the Managing Board.
Any member who fails to fulfil his/her assigned tasks, violates the Charter,
makes wrong or ultra vires decisions or abuses his/her powers, thus causing
harm to DIV’s operations and the State, shall have to take responsibility and
pay material compensation for the damage he/she has caused according to the
provisions of law.
Article 16.- Control
Commission
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2. A member of the Control Commission must not
be the wife, husband, father, mother, offspring or sibling of the general
director, deputy general director or chief accountant of DIV. Such members must
not concurrently hold any positions in DIV’s executive apparatus.
3. Members of the Control Commission must fully
meet the following criteria:
a/ Having been trained in the fields of
accountancy, auditing, economics, insurance, finance or banking and having law
knowledge;
b/ Having worked in the above-mentioned fields
for not less than 5 years;
c/ Having no criminal records.
4. A term of a Control Commission member is 5
years. The Control Commission members may be re-appointed. During their work,
if failing to fulfil their tasks, they shall be replaced.
5. Wages and bonuses of the Control Commission
members shall comply with the provisions of the wage and bonus regime
prescribed for DIV.
Article 17.- The
Control Commission shall take responsibility before DIV’s Managing Board for
the control of all DIV’s operations and have the following tasks and powers:
a/ To inspect and supervise the observance of
undertakings, resolutions and decisions of the Managing Board and laws in the
DIV’s operations, with a view to raising the efficiency of DIV’s operations,
ensuring safety for the State’s assets as well as interests of the DIV and the
deposit insured; to regularly report to the Managing Board on the results of
inspection and supervision, and propose handling measures;
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c/ To consider complaints of organizations and
individuals, which are related to DIV’s operations before submitting them to
the Managing Board for settlement;
d/ To use DIV’s internal control apparatus and
working facilities to perform its tasks;
e/ To perform other tasks assigned by the
Managing Board.
Section II. GENERAL DIRECTOR
AND ASSISTING APPARATUS
Article 18.- General
director and assisting apparatus
1. The general director shall represent the legal
person of DIV, take responsibility before the Managing Board and law for the
administration of DIV’s operations.
2. The deputy general directors shall assist the
general director in running one or a number of fields of operation of DIV under
the general director’s assignment and be answerable to the general director.
3. DIV’s office, its professional and
specialized departments and sections shall have the function of advising and
assisting the Managing Board and the general director in managing and running
the work.
Article 19.- Tasks and
powers of the general director
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2. To efficiently use and develop capital under
the plan approved by the Managing Board.
3. To elaborate DIV’s deposit insurance
development strategy and annual operation plan, projects on cooperation with
foreign countries and plan on economic partnership, submit them to the Managing
Board and the competent State authorities and organize the implementation
thereof when they are ratified.
4. To administer the DIV’s operations and take
responsibility for its operations’ results.
5. To work out and submit to the Managing Board
for ratification the regulations, labor and wage norms in conformity with the
general regulations of the State.
6. To propose the Managing Board to appoint,
dismiss, reward or discipline the directors of DIV’s branches or representative
offices. To decide the appointment, dismissal, reward or discipline of the
heads and deputy heads of DIV’s departments and sections as well as the deputy
directors of DIV’s branches or representative offices.
7. To submit to the Managing Board the
organizational model together with the apparatus staff and adjustment plan
therefor in case of any changes, and organize the realization thereof after
they are ratified. To issue the Regulation on organization and operation of the
branches and representative offices after it is ratified by the Managing Board.
8. To submit to the Managing Board for
ratification the regulations on commendation and discipline applicable within
DIV.
9. To organize the administration of DIV’s
operations according to the resolutions and decisions of the Managing Board; to
report to the Managing Board and the competent State agencies on the results of
DIV’s operations.
10. To refuse and denounce all requests of any
individuals or organizations to supply resources not prescribed by law, except
for voluntary contributions for charity and public-utility purposes.
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12. To submit to the inspection and supervision
of the performance of his/her executive tasks by the Managing Board, the
Control Commission and the competent State bodies.
13. To decide the application of measures beyond
his/her jurisdiction in urgent cases (the deposit insured become insolvent due
to natural calamities, enemy sabotage, fires or incidents) and take
responsibility for such decisions; then to report immediately such to the
Managing Board and the competent State bodies.
14. To exercise other rights prescribed by law.
Section III. BRANCHES,
REPRESENTATIVE OFFICES
Article 20.-
1. The DIV may set up its
branches and/or representative offices where necessary. Such branches and
representative offices shall be DIV’s
dependent units. Their functions, tasks and powers shall be determined by the
general director after they are approved by the Managing Board.
2. The branches and representative offices shall
be the dependent cost-accounting units that have their own seals and be
entitled to open their own accounts at the State Bank, State-run credit
institutions or State Treasury.
Chapter IV
FINANCE OF DEPOSIT
INSURANCE OF VIETNAM
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A fiscal year of DIV starts on January 1st and
ends on December 31 of the solar year.
Article 22.- Operating
capital
1. DIV’s
operating capital includes:
a/ The charter capital of 1,000 billion VND,
allocated by the State;
b/ The capital source added annually from the
collected deposit insurance premium amount;
c/ The other capital sources.
2. DIV is not allowed to use its operating
capital for purposes contrary to the provisions of law.
3. In case of an increase or decrease of its
operating capital, DIV must make the prompt adjustment in its balance sheet and
report to the competent State agency on its actually adjusted capital amount.
Article 23.- DIV shall
be entitled to set up and use funds to ensure its operation and development
process in accordance with the provisions of law.
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1. To operate on the principle of financial
autonomy and self-balancing of its revenues and expenditures, ensuring safety
and development of the operating capital.
2. To take responsibility for the payment of
debts and fulfillment of other financial commitments (if any) of DIV.
3. To effect the accountancy accounting
according to the system of accounting accounts prescribed by the Finance
Ministry.
4. To take responsibility for elaboration of DIV’s financial plans, financial
statements and balance sheet as prescribed by law.
5. To strictly abide by the Ordinance on
Accounting and Statistics.
6. To submit to the inspection and supervision
of its finance and business activities by the competent State bodies as
prescribed by law.
7. To effect the wage and remuneration regime as
well as the expenditure of wage nature of DIV according to the Prime Minister’s decision at the proposal of
the Ministry of Labor, War Invalids and Social Affairs and opinions of DIV’s Managing Board.
8. DIV’s
financial regime shall be decided by the Prime Minister based on the proposal
of the Finance Ministry and opinions of the State Bank.
Chapter V
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Article 25.- DIV’s relationship with the Finance
Ministry
1. To submit to the State management by the
Finance Ministry over its the observance of the financial and accounting
regimes as well as the organization of its accounting and accountancy
apparatus.
2. To submit to the management by the Finance
Ministry which shall act in its capacity as the agency assigned by the
Government to perform a number of functions of the owner in the following
domains:
a/ To determine capital and other resources
assigned by the State to DIV for management and use;
b/ To inspect the efficient use and development
of capital and other resources assigned to DIV in its operation process;
c/ To examine and inspect the contents of the
annual financial statements and final account settlements.
3. To submit to examination and inspection of
other matters which fall under the competence of the Finance Ministry.
4. To be entitled to propose solutions to
financial mechanisms and policies related to DIV.
Article 26.- DIV’s relationship with the Vietnam
State Bank
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a/ The observance of the regulations on deposit
insurance;
b/ The implementation of other relevant contents
prescribed by the State Bank Governor;
2. To obey to and coordinate with the latter in
a number of domains:
a/ The supervision and inspection of the deposit
insured;
b/ The regime of information and reporting on
matters related to the deposit insurance activities as prescribed in the
Government’s Decree on
deposit insurance;
c/ The application of measures to handle the
deposit insured.
Article 27.- The Prime
Minister authorizes the State Bank Governor:
1. To supervise operations of DIV’s Managing Board and have the
competence:
a/ To attend the Managing Board’s meetings when necessary;
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2. To perform a number of other specific tasks
assigned by the Prime Minister.
Article 28.- DIV’s relationship with the
ministries and competent State management bodies: DIV shall submit to the State
management by these agencies in the fields coming under their respective
functions and jurisdiction prescribed by law.
Article 29.- DIV’s relationship with the local
administrations of all levels: DIV shall submit to the State management by and
observe the administrative regulations of, the People’s
Councils and People’s
Committees of all levels according to the provisions of law.
Article 30.- DIV’s relationship with the deposit
insured: to exercise the rights and perform the functions according to this
Charter and the provisions of law; to promote and support each other in the
application of scientific and technical progresses in management and business.
Chapter VI
IMPLEMENTATION PROVISIONS
Article 31.- Any
amendments and/or supplements to this Charter shall be submitted by DIV’s Managing Board to the Prime
Minister for decision.
Article 32.- The
chairman of DIV’s Managing
Board shall take responsibility for organization of implementation of this
Charter.
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FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER
Nguyen Tan Dung