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THE STATE BANK
OF VIETNAM
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THE SOCIALIST
REPUBLIC OF VIET NAM
Independence-Freedom-Happiness
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No. 06/VBHN-NHNN
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Hanoi, April 08,
2024
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CIRCULAR
PRESCRIBING
COOPERATIVE BANK
The Circular No. 31/2012/TT-NHNN dated November 26,
2012 of the Governor of the State Bank of Vietnam on cooperative bank, which
enters into force from January 01, 2013, is amended by:
1. The Circular No. 09/2016/TT-NHNN dated June 17,
2016 of the Governor of the State Bank of Vietnam amending and supplementing
certain articles of the Circular No. 31/2012/TT-NHNN dated November 26, 2012 of
the Governor of the State Bank of Vietnam on cooperative bank, which enters
into force from August 15, 2016.
2. The Circular No. 05/2018/TT-NHNN dated March 12,
2018 of the Governor of the State Bank of Vietnam prescribing application and
procedures for approval for changes and lists of personnel to be elected and
appointed of credit institutions that are cooperatives, which enters into force
from June 01, 2018.
3. The Circular No. 17/2018/TT-NHNN dated August
14, 2018 of the Governor of the State Bank of Vietnam providing amendments to
Circulars on licensing, business network and foreign exchange operations of
credit institutions and foreign bank branches, coming into force from October
01, 2018.
4. The Circular No. 21/2019/TT-NHNN dated November
14, 2019 of the Governor of the State Bank of Vietnam amending and
supplementing certain articles of Circulars on cooperative bank, people’s
credit funds and fund for maintenance of prudence of the network of people's
credit funds, which enters into force from January 01, 2020.
5. The Circular No. 24/2023/TT-NHNN dated December
29, 2023 of the Governor of the State Bank of Vietnam providing amendments to
Circulars on submission, presentation and provision of information and
documents on population upon carrying out administrative procedures related to
establishment and operation of banks, which enters into force from March 01,
2024.
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Pursuant to the Law on Credits Institutions No.
47/2010/QH12 dated June 16, 2010;
Pursuant to the Law on Enterprises No.
60/2005/QH11 dated November 29, 2005;
Pursuant to the Law on Cooperatives No.
18/2003/QH11 dated November 26, 2003;
Pursuant to the Government’s Decree No.
96/2008/ND-CP dated August 26, 2008 defining functions, tasks, powers and
organizational structure of the State Bank of Vietnam (SBV);
At the request of the Head of the SBV Banking
Supervision Agency;
The Governor of the State Bank of Vietnam hereby
provides for licensing, organization and operation, powers and responsibilities
of the cooperative bank[1],[2],[3],[4],[5].
Chapter I
GENERAL PROVISIONS
Article 1. Scope
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Article 2. Regulated entities
1. Cooperative bank.
2. People’s credit funds.
3. Institutional and individual entities involved
in the establishment of, licensing for, organization and operation, powers and
responsibilities of, cooperative bank.
Article 3. Definitions
For the purposes of this Circular, the terms below
shall be construed as follows:
1. “First General Members’ Meeting” refers
to the first meeting attended by members of the cooperative bank to ratify the
cooperative bank’s Charter and the cooperative bank establishment scheme; elect
the Chairperson and members of the Management Board, Head and members of the
Control Board in the first tenure; resolve on other issues pertaining to the
establishment of the cooperative bank.
2. “capital contributed to establish membership
interest” refers to the minimum amount of capital that must be contributed
to be eligible to become a member of the cooperative bank.
3. “annual contributed capital” refers to
the amount of capital that a member must contribute on an annual basis to
maintain its membership interest.
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1. The State Bank of Vietnam (hereinafter referred
to as “SBV”) shall be the authority competent to consider granting the license
to establish and operate the cooperative bank (hereinafter referred to as
“license”).
2. The SBV shall be entitled to refuse to grant the
license in the event that the institutional entity applying for that license
fails to comply with the Law on Credit Institutions and this Circular.
Article 5. Duration and scope of operation
1. The maximum operational duration of the
cooperative bank is 99 (ninety nine) years.
2. The cooperative bank shall operate within the
territory of the Socialist Republic of Vietnam.
3. The cooperative bank shall be entitled to
establish its domestic branches, representative offices and administrative
units, and overseas representative offices, after obtaining written approval
from the SBV.
Article 6. Nature and objectives of operation
The cooperative bank shall be considered as a
credit institution which is structured in a cooperative form with the main
objective of building associations in, and assuring safety for, the network of
people's credit funds through financial support and supervision of operations
across this network. Major functions of the cooperative bank shall comprise
capital trade-off and implementation of banking operations in which cooperative
members are people's credit funds.
Article 7. Principles for preparing an
application
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2. Duplicate copies of required documents and
qualifications must be authenticated as prescribed by laws and regulations.
Chapter II
PROVISIONS ON LICENSING
Section 1. GRANT OF LICENSE TO THE COOPERATIVE
BANK
Article 8. Licensing requirements
1. The cooperative bank must have a minimum charter
capital which is equal to the statutory capital prescribed by the Government on
the date of submission of application.
2. Its members that are people’s credit funds and
other legal entities must satisfy the requirements set forth in Article 34
hereof.
3. Managers, executive officers and members of the
Control Board of the cooperative bank must meet regulatory eligibility and
qualification requirements set forth in the Law on Credit Institutions and
Article 23, 24 and 25 hereof.
4. It has a Charter conformable with regulations
laid down in the Law on Credit Institutions, the Law on Cooperatives and other
relevant law regulations.
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6. [6]
(abrogated)
Article 9. Application for license
1. An application form signed by the Chairperson of
the Management Board of the cooperative bank applying for the license (using
the form in Appendix No. 03 hereof).
2. The cooperative bank’s Charter.
3. The scheme for establishment of the cooperative
bank that contains:
a) Necessity of such establishment;
b) Name of the cooperative bank, location of its
head office, operational duration, charter capital available upon
establishment, and scope of operations, all of which must accord with the Law
on Credit Institutions and this Circular.
c) Proportion of capital contributions by
cooperative members in which those holding 05%, or more, of its charter capital
must be specified;
d) Proposed organizational and personnel structure:
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- Management, control and administrative machinery,
including:
+ Management Board: Chairperson, Board Members;
+ Control Board: Head, Board Members and full-time
Board Members;
+ General Director, Deputy General Directors, Chief
Accountant, Directors of branches, and equivalents, as defined in the Charter
of the cooperative bank;
dd) Risk management capability: Risks that may be
incurred during the cooperative bank’s operations (such as credit risks,
operational risks, market risks and liquidation risks, etc.) and risk
prevention and control measures;
e) Information technology:
- Planned financial investment in information
technology;
- Evaluation of competence in applying information
technology which clearly specifies the duration for technological investment,
type of technology to be applied, recommended officers and their ability to
apply information technology, guarantee of compatibility and connectivity of
the IT system with/to the management system of the SBV for the purpose of
providing required information to meet its managerial requirements;
g) Strategy for developing and expanding the
operational network, and providing and developing banking services (providing a
thorough analysis of services that will be provided, and target customers,
etc.);
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- Principles of operations of the internal control
and audit system;
- Internal regulations as prescribed in Clause 2
Article 93 of the Law on Credit Institutions.
i) Business plan for the first 03 years, at least
including expected operating income, prudential ratios, operational efficiency
indicators and demonstration of competence in implementing that plan in each
year.
4. Required documents about persons recommended to
participate in management, control and administration activities:
a) List of recommended personnel participating in
management, control and administration activities;
b) Resume (according to Appendix 01 hereof) and
police record as defined by laws;
c) [7]
(abrogated);
d) Public report on interests involved as
prescribed in Article 118 of the Law on Enterprises;
dd) Duplicate copies of degrees or diplomas used as
a proof of their educational and professional level.
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a) [8]
List of members contributing capital to the cooperative bank in which the
following main contents must be specified:
- Name and location of its head office; number of
establishment license or business registration certificate or another document
of equivalent validity; contributed capital amount, capital contribution ratio,
and time limit for capital contribution;
- Full name, permanent residence (if different from
permanent/temporary residence); ID card number or personal identification
number with respect to persons who are legal representatives or contributed
capital representatives;
b) Application for membership in the cooperative
bank;
c) Establishment license or business registration
certificate or other equivalents (applicable to legal entities which are not
credit institutions);
d) Regulatory authorities’ written approval granted
to institutional entities (other than people's credit funds) for their
contribution of capital to the cooperative bank (where available);
dd) Charter (applicable to legal entities which are
not credit institutions);
e) Written authorization given to a representative
of a legal entity (including representative of contributed capital portion) to
become a member of the cooperative bank in accordance with laws;
g) [9] (abrogated);
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i) Financial statements of the year preceding the
year of establishment of the cooperative bank, and the latest financial
statement prepared not later than 90 days prior to the date of submission of
the request for capital contribution (applicable to the legal entity which is
not a credit institution);
k) Declaration of details of contributed capital,
number and proportion of shares held by each member at other credit
institutions.
6. Written confirmation of the right to legally own
or use location of head office.
7. Resolution of the First General Members’ Meeting
on establishment of the cooperative bank.
8. Resolution of the First General Members’ Meeting
on election of Chairperson, members of the Management Board, Head and members
of the Control Board.
9. The Management Board’s decision on appointment
of the General Director of the cooperative bank.
Article 10. Licensing procedures
1. The cooperative bank submits an application which
includes the documents referred to in Article 7 and 9 hereof directly or by
post to the SBV (via SBV Banking Supervision Agency).
2. Within 30 days from the receipt of the
application, the SBV (via SBV Banking Supervision Agency) sends the applicant its
confirmation of whether all documents are valid or need to be supplemented or
modified to meet regulations.
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Article 11. Commencement of the cooperative
bank’s operations
1. The cooperative bank granted the license as
defined in Section I Chapter II hereof must carry out its business
registration, information disclosure and reporting on conditions for
commencement of its operations in accordance with Article 25 and 26 of the Law
on Credit Institutions.
2. The cooperative bank must, whether directly or
by post, send the SBV’s branch of the province or city where its head office is
located the notice of conditions for commencement of its operations as
prescribed in Clause 1 of this Article at least 15 days before the scheduled
commencement date.
Section 2. TRANSFORMATION OF THE CENTRAL
PEOPLE’S CREDIT FUND TO THE COOPERATIVE BANK
Article 12. Procedures, and evaluation of
application, for approval of transformation and grant of license to cooperative
bank
1. The Central People’s Credit Fund must hold a
general meeting on its transformation into the cooperative bank (hereinafter
referred to as the “transformation general meeting”) as stipulated by Article
13 hereof, and submit an application to the SBV for its approval of such
transformation as provided for in Article 14 hereof.
2. Within a maximum period of 60 business days from
the receipt of the SBV’s approval of transformation of the Central People’s
Credit Fund into the cooperative bank, the former must convene its first
general members’ meeting to perform the following tasks:
a) Ratify the cooperative bank’s Charter.
b) Officially elect the Chairperson and members of
the Management Board, Head and members of the Control Board of the cooperative
bank in the first tenure according to the list of nominees as defined in Clause
1 Article 22 hereof.
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3. Within a maximum period of 15 business days
after the date on which the first general members’ meeting is held, the Central
People’s Credit Fund must submit an application for the license granted to the
cooperative bank under the provisions of Article 16 hereof.
4. The Banking Supervision Agency shall be
responsible for receiving and evaluating the received application, and then
requesting the SBV’s Governor in writing for his/her approval of transformation
and grant of the license to the cooperative bank.
Article 13. Transformation general meeting
1. The general meeting on transformation of the
Central People’s Credit Fund into the cooperative bank (hereinafter referred to
as “transformation general meeting”) shall be convened by the Management Board
of the Central People’s Credit Fund. Holding the transformation general meeting
in the form of a plenary meeting attended by all members or members’ delegates
of the Central People’s Credit Fund, and form of election of members’ delegates
attending the transformation general meeting, shall be subject to the decision
made by the Management Board of the Central People’s Credit Fund.
2. The transformation general meeting shall take on
the following duties:
a) Ratify the scheme for transformation of the
Central People’s Credit Fund into the cooperative bank. This scheme must, inter
alia, include the following:
- Necessity for transformation of the Central
People’s Credit Fund into the cooperative bank;
- Name of the cooperative bank, its head office,
operational duration and its charter capital;
- Operational contents that conform to the Law on
Credit Institutions and this Circular;
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- List of recommended personnel, enclosing details
of qualifications and working experience in the banking sector:
+ Chairperson and members of the Management Board;
+ Head and members of the Control Board;
+ General Director.
b) Ratify the cooperative bank’s draft Charter;
c) Ratify the list of members of the cooperative
bank.
Article 14. Application and procedures for
approval of transformation of the Central People’s Credit Fund to the
cooperative bank
1. After the transformation general meeting ends,
the Central People’s Credit Fund shall prepare an application requesting the
SBV to approve the transformation of the Central People’s Credit Fund into the
cooperative bank, and send it, whether directly or by post, to the SBV (via SBV
Banking Supervision Agency). The application includes:
a) The written request submitted by the Chairperson
of the Management Board of the Central People’s Credit Fund to the SBV for its
approval of transformation of the Central People’s Credit Fund into the
cooperative bank;
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c) Resolution of the transformation general
meeting, which shall, inter alia, include:
- Ratification of the scheme for transformation of
the Central People’s Credit Fund into the cooperative bank;
- Ratification of the cooperative bank’s draft
Charter;
- Ratification of the list of members of the
cooperative bank.
d) Scheme for transformation of the Central
People’s Credit Fund into the cooperative bank;
dd) Charter of the cooperative bank;
e) List of members of the cooperative bank.
2. Within 10 business days from the receipt of a
valid and adequate application, the SBV shall grant the decision to approve
transformation of the Central People’s Credit Fund into the cooperative bank.
Article 15. Licensing requirements
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2. The cooperative bank has a Charter conformable
with regulations laid down in the Law on Credit Institutions, the Law on
Cooperatives and other relevant laws.
3. It has a head office and provides sufficient
infrastructure facilities and IT system for ensuring its normal operations.
Article 16. Application for license granted to
cooperative bank
An application for a license granted to the
cooperative bank includes:
1. The written request submitted by the Chairperson
of the Management Board of the Central People’s Credit Fund to the SBV for
grant of a license to the cooperative bank;
2. The cooperative bank’s Charter ratified by the
first general members’ meeting;
3. Minutes of the first general members’ meeting;
4. Resolution of the first general members’ meeting
which has been ratified and includes the following:
a) Ratification of the cooperative bank’s Charter.
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c) Ratification of the business plan for the first
3 years of its operations.
5. Documents of members which are people’s credit
funds, including: list, location of head office and contributed capital amount.
6. Documents of members which are legal entities
other than people’s credit funds (where applicable), including: list, location
of head office and contributed capital amount.
7. Written confirmation of the right to legally own
or use location of head office of the cooperative bank.
8. The Management Board’s decision on appointment
of the General Director of the cooperative bank.
9. The business plan for the first 3 years of
operations, ratified by the first general members' meeting.
Article 17. Procedures for grant of license to
cooperative bank
1. Within 15 business days from the date on which
the first general members’ meeting is held, the Central People’s Credit must
submit an application which includes the documents referred to in Article 16
hereof, whether directly or by post, to the SBV (via SBV Banking Supervision
Agency).
2. Within 10 business days from the receipt of a
valid and adequate application, the SBV shall make its decision to grant the
license.
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Article 18. Contents of a license
1. The license must, inter alia, include the
following:
a) License number, issue place and date;
b) Name of the cooperative bank:
- Full and abbreviated name written in Vietnamese;
- Full and abbreviated name written in English (if
any);
- Transaction name (if any).
c) Location of head office;
d) Contents and scope of operations;
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e) Charter capital;
g) Operational duration.
2. The SBV shall specifically provide for contents,
scope of operations, operational territories and operational duration in the
license according to the form in Appendix No. 05 hereof.
Article 19. Licensing fee
1. The amount of licensing fee paid by the
cooperative bank shall conform to regulations on fees and charges.
2. Within 15 (fifteen) business days from the date
of issuance of the license, the cooperative bank must pay the licensing fee at
the SBV’s Operations Center.
3. The licensing fee amount referred to in Clause 1
of this Article shall not be deducted from the charter capital and refunded in
all cases.
Article 20. Usage of license
1. The cooperative bank granted the license must
use correct name and carry out operations as specified in the license granted
by SBV, and avoid performing any non-bank activities and business operations
which are not specified in the license.
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3. Where the license is lost, stolen, damaged or
burnt or otherwise destroyed, the cooperative bank must send a written
notification of reasons directly or by post to the SBV (Banking Supervision
Agency) to request its issuance of a copy of the license from the original
register in accordance with laws. Within 02 (two) business days from the
receipt of the written request, the SBV must consider that request and decide
to issue a copy of the license from the original one to the cooperative ban.
Chapter III
MANAGEMENT BOARD, CONTROL BOARD AND GENERAL DIRECTOR
OF THE COOPERATIVE BANK
Article 21. Organization and operation of
Management Board, Control Board and General Director
1. The Management Board of the cooperative bank is
an organ accorded the power to manage the cooperative bank and entitled to act
on behalf of the cooperative bank to decide and implement rights and
obligations of the cooperative bank, except for issues that fall within the
authority of the General Members' Meeting.
2. The control board of the cooperative bank shall
conduct the internal audit, control and assessment of compliance with laws and
regulations, internal regulations, Charter and any resolution or decision made
by the General Members' Meeting and/or the Management Board.
3. The General Director is the highest-level
executive of the cooperative bank and shall assume his/her accountability to
the Management Board for implementation of his/her powers and obligations.
4. The SBV shall appoint a person to administer the
funds given by the Government to the cooperative bank, who is required to meet
eligibility standards and requirements set out in the Law on Credit
Institutions and this Circular in order to be considered and elected by the
General Members' Meeting to hold the position as the Chairperson of the
Management Board, Head of the Control Board, a member of the Management Board
cum General Director of the cooperative bank.
5. The Management Board, Control Board and General
Director of the cooperative bank shall be organized and operate in accordance
with the Law on Credit Institutions and Article 22, 23, 24, 25, 26, 27 and 28
hereof.
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1. The written approval granted by SBV for the list
of recommended persons to be elected or appointed to become members of the Management
Board, Control Board and General Director of the cooperative bank must be
obtained before election or appointment takes place. Those who are elected or
appointed to become members of the Management Board, Control Board and General
Director of the cooperative bank must be present in the list approved by the
SBV.
2. [10]
(abrogated)
Article 23. Requirements for becoming
Chairperson and members of Management Board
1. The Chairperson of the Management Board must:
a) acquire at least 05 (five) years’ experience in
the banking sector;
b) be used to hold a position as the manager or
executive officer in a banking institution for at least 02 (two) years in the
past;
c) obtain a university degree or higher in
economics, finance, accounting, audit, banking or law.
2. A member of the Management Board must:
a) acquire at least 02 (two) years’ experience in
the banking sector;
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c) obtain a university degree or higher in
economics, finance, accounting, audit, banking or law.
3. The Chairperson or member of the Management
Board is not the one provided for in Article 33 and 34 of the Law on Credit Institutions.
Article 24. Requirements for becoming members of
Control Board
1. A member of the Control Board must:
a) acquire at least 03 (three) years’ experience in
the field of accounting, audit, finance or banking;
b) obtain a university degree or higher in
economics, finance, accounting, audit or banking.
2. A full-time member of the Control Board must
reside in Vietnam during his/her incumbency, and shall be prohibited from
holding other positions or performing other tasks at any other credit institution
or enterprise.
3. A member of the Control Board is not the one
referred to in Article 33 and 34 of the Law on Credit Institutions.
Article 25. Requirements for becoming General
Director
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2. Be used to hold a position as the manager or
executive officer in a banking institution for at least 03 (three) years in the
past;
3. Obtain a university degree or higher in
economics, finance, banking, business administration or law.
4. Reside in Vietnam during his/her incumbency.
5. Be not the one referred to in Article 33 and 34
of the Law on Credit Institutions.
Article 26. Duties and powers of Chairperson of
Management Board
The Chairperson of the Management Board is the
legal representative of the cooperative bank and responsible for performing the
following duties and powers:
1. Set up the plan and schedule for operations of
the Management Board, assign tasks, conduct overall monitoring and oversight of
performance of members of the Management Board.
2. Prepare work contents, agenda, convene and
preside over meetings of the Management Board and the General Members’ Meeting.
3. Assume his/her accountability to the General
Members’ Meeting and the Management Board for his/her assigned tasks.
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5. Perform other powers and duties specified in the
Charter of the cooperative bank.
Article 27. Management Board’s meeting
1. The Management Board’s meeting shall be valid if
at least two-thirds of the members of the Management Board are present. The
Management Board operates according to the collective principle, and makes
decisions by under the majority rule. If the number of yes votes is equal to
the number of no votes, the number of votes composed of the vote cast by the
person presiding at the meeting shall be decisive.
2. If the first meeting of the Management Board is
adjourned on the grounds that the number of members attending is too small to
constitute a stipulated quorum, the Chairperson of the Management Board must
convene the second meeting within the following 15 business days. After two
postponements, if no quorum can yet be constituted, the Chairperson of the Management
Board shall be responsible for reporting to the next General Members’ Meeting
to evaluate membership of the members that do not attend the meeting and take
appropriate disciplinary actions.
3. All contents of, and conclusions reached in,
each session of the General Members' Meeting must be recorded into the minute
book. Minutes of meetings of the Management Board must be fully signed by the
meeting chair and secretary. The meeting chair and secretary shall assume joint
responsibility for accuracy and integrity of these minutes. Members of the
Management Board shall retain their opinions and retained opinions shall be
recorded in the meeting minutes.
Article 28. Duties and powers of Head of the
Control Board
1. Bear responsibility for assigning and directing
members of the Control Board to perform duties and powers of the Control Board.
2. Establish programs and plans for inspection,
oversight and monitoring of performance of duties by each member.
3. Convene and preside at the meetings of the
Control Board.
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5. Request the Management Board to convene an
extraordinary meeting to handle violations against laws and the Charter of the
cooperative bank.
6. Convene and preside at the extraordinary General
Members’ Meeting in accordance with Clause 3 Article 37 hereof.
7. Perform other powers and duties specified in the
Charter of the cooperative bank.
Chapter IV
CHARTER CAPITAL, CONTRIBUTED CAPITAL, AND TRANSFER AND
RETURN OF CONTRIBUTED CAPITAL OF THE COOPERATIVE BANK
Article 29. Charter capital
1. The charter capital is the amount of capital
specified in the Charter of the cooperative bank, including:
a) Capital contributed by member people's credit
funds;
b) Funds provided by Government;
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2. Capital-contributing members cannot use trust or
borrowed funds in any form for contributing capital to the cooperative bank,
and must clearly identify the funding source, undertake and bear responsibility
for legality of the contributed capital.
3. Capital contributions made to the cooperative
bank must strictly observe applicable laws and conform to the following
requirements:
a) With respect to legal entities licensed to
operate in the banking, securities and insurance sectors, capital contribution
must abide by relevant laws and regulations;
b) With respect to legal entities operating in the
business activities that conform to statutory capital requirements, the maximum
agreed-upon amount of contributed capital shall not exceed the owner's equity
less the predetermined statutory capital;
c) With respect to other legal entities, the
maximum agreed-upon amount of contributed capital shall equal the owner's
equity minus the difference between long-term investments and long-term
liabilities (method of determination specifically provided for in Appendix No.
04 hereof).
Article 30. Form of contribution to charter capital
Contributions to the charter capital of the
cooperative bank may be made in Vietnamese dong or other kinds of asset.
Other kinds of asset used as contributions to the
charter capital must be those assets of which the right of ownership and use is
proven by legal certificates (those which are necessary assets directly
assisting in operations of the cooperative bank). Valuation and transfer of the
right to own assets given as capital contributions shall comply with applicable
laws.
Article 31. Contribution of capital to
participate in cooperative bank
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2. The minimum annual amount of contributed capital
of the cooperative bank’s member is 1,000,000 (one million) dong.
The specific amount of contributed capital shall be
decided by the General Members’ Meeting. Members of the cooperative bank shall
be exempted from paying annual contributed capital in the first financial year
after the date of commencement of its operations. Annual capital contribution
must be completed no later than 30 (thirty) days from the closing date of the
General Members' Meeting.
3. Total maximum contributed capital (including
capital contributed to establishing membership interest and annual contributed
capital) of a member (inclusive of transferred capital) shall be decided by the
General Member’s Meeting and recorded in the Charter of the cooperative bank,
but not exceed 30% of the charter capital of the cooperative bank at the date
of capital contribution and acquisition of transferred capital, except for the
State capital shares invested in the cooperative bank.
Article 32. Method for distribution of profits
Distribution of profits based on the amount of
contributed capital (capital contributed to establishing membership interest
and annual contributed capital), and level of usage of services provided by the
cooperative bank, shall be decided by the General Members' Meeting and conform to
laws and regulations.
Article 33. Transfer and return of contributed
capital
1. Transfer of contributed capital by members shall
be carried out in accordance with the following provisions:
a) If a member is a people’s credit fund, it shall
be allowed to transfer a part of its contributed capital (but it shall be
required to maintain the minimum amount of capital contributed to establishing
membership interest and annual contributed capital) to other legal entities
that meet requirements set forth in Article 34 hereof;
b) If a member is not a people’s credit fund, it
shall be allowed to transfer either all or part of its contributed capital to
other legal entities that meet requirements set forth in Article 34 hereof. If
a part of contributed capital is transferred, a cooperative member must
maintain the minimum amount of capital contributed to establishing membership
interest and annual contributed capital as provided for by Article 31 hereof.
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3. In case of termination of membership, transfer
of a cooperative member’s contributed capital to other legal entities must meet
requirements set out in Article 34 hereof.
4. Return of contributed capital and profits earned
therefrom (where applicable) to members must take into consideration the
financial status of the cooperative bank in the year-end financial report, and
may be acceptable only if the following requirements are observed:
a) Such return does not result in the cooperative
bank’s charter capital lower than the predetermined statutory capital;
b) Such return does not result in any violation
against the prudential ratio stipulated by the SBV;
c) Sufficient liquidity is maintained at the date
upon which such return occurs;
d) The cooperative bank’s member has fully
discharged its financial obligations to the cooperative bank, including:
- Have already repaid all of debts owed (both
principal and interest);
- Have already compensated for losses for which it
assumes several or joint liability;
- Have already managed to deal with business losses
and risks in proportion with the amount of contributed capital for which it
assume joint liability under the decision made by the General Members' Meeting.
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Chapter V
PROVISIONS ON MEMBERS OF THE COOPERATIVE BANK
Article 34. Requirements for becoming a member
of the cooperative bank
1. [12] With respect to
people’s credit funds and other credit institutions, they must not be subject
to any special control as provided in Clause 1 Article 145 of the Law on Credit
Institutions (as amended) at the date of submission of application for
membership.
2. With respect to other legal
entities, they must generate operating profits in the year prior to the
application year.
3. Those stipulated in Clauses 1 and 2 of this
Article must contribute the predetermined amount of capital as prescribed by
Article 31 hereof, and must submit applications for membership and assign their
legal representatives to participate in the cooperative bank.
Article 35. Termination of membership
A member of the cooperative bank shall have its
membership terminated if:
1. The member’s legal personality is terminated.
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a) does not have its representative that satisfies
requirements set forth in laws and the Charter of the cooperative bank;
b) fails to make sufficient annual capital
contributions as stipulated by Clause 2 Article 31 hereof;
c) has already disposed of all of its contributed
capital to other legal entity in accordance with Clause 1 Article 33 hereof.
3. The member is allowed to resign, or is
discharged, from membership in the cooperative bank by the General Members’
Meeting in accordance with laws and the Charter of the cooperative bank.
Chapter VI
GENERAL MEETING OF COOPERATIVE BANK’S MEMBERS
Article 36. First General Members’ Meeting
The first General Members’ Meeting is a plenary
meeting of members or a meeting of representatives of members of the
cooperative bank that works on the following contents:
1. Ratify the scheme for establishment of the
cooperative bank.
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3. Elect the Chairperson and members of the
Management Board, Head and members of the Control Board of the cooperative bank
in the first tenure according to the list of nominees as defined in Clause 1
Article 22 hereof.
4. Ratify the business plan for the first 3 years
of its operations.
Article 37. General meeting of cooperative
bank’s members
1. The General Members’ Meeting is an organ
accorded the ultimate decision-making power of the cooperative bank to perform
duties and powers referred to in Article 80 of the Law on Credit Institutions.
2. The General Members’ Meeting must be held once a
year and convened by the Management Board within 03 (three) months from the
last date of a given financial year.
3. An extraordinary General Members’ Meeting shall
be held in the following cases:
a) The Management Board convenes such meeting on
grounds of the benefits of the cooperative bank or upon the written request of
at least 1/3 (one-third) of total members;
b) The meeting is held upon the request of the
Control Board as provided in Clause 6 Article 84 of the Law on Credit
Institutions;
c) The meeting is held upon the request of the SBV
in case there is any event that may cause adverse impacts on safety for
operations of the cooperative bank;
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Within 15 (fifteen) days from the receipt of the
written call for the General Members' Meeting from at least 1/3 (one-third) of
the members, if the Management Board fails to convene the extraordinary General
Members' Meeting, members calling that meeting may request the SBV in writing
to take charge of holding and opening of the General Members’ Meeting whenever
necessary.
Article 38. Authority of General Members’
Meeting
The General Members’ Meeting of the cooperative
bank shall be accorded authority to discuss and decide the following contents:
1. Annual income statements; Performance reports of
the Management Board and Control Board.
2. Recommendation for profit distribution.
3. Business plan and objectives for the coming
year.
4. Increase or decrease in the charter capital, and
level of capital contributed by the cooperative bank’s members.
5. Election, appointment and dismissal of the
Chairperson, other members of the Management Board, Head and other members of
the Control Board.
6. The list of new members admitted into the
cooperative bank; forced resignation of members from the cooperative bank as
requested by the Management Board.
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8. Dissolution and bankruptcy of the cooperative
bank.
9. Others suggested by the Management Board,
Control Board or at least 1/3 (one-third) of total members of the cooperative
bank.
Article 39. Holding of General Members’ Meeting
1. The General Members’ Meeting of the cooperative
bank can be held in a form of a plenary meeting of its members or a meeting of
representatives of members (hereinafter referred to as the “General Members’
Meeting”).
2. The plenary meeting of members or the meeting of
representatives of members shall have the same duties and powers. Based on
current conditions, the Management Board shall decide the method for holding of
the General Members' Meeting, election, number of representatives of members
participating in the General Members’ Meeting in each session.
3. The number of representatives of members invited
to participate in the General Members’ Meeting shall not be less than 20% of
the members.
4. The General Members’ Meeting shall be deemed
valid if at least 2/3 (two-thirds) of the members or representatives of members
invited are present.
5. If a quorum (including either members or
representatives of members) is not present as stipulated by Clause 4 of this
Article, the Management Board or Control Board must postpone the General
Members' Meeting and re-invite them within 30 (thirty) days from the date of
postponement (with respect to the annual General Members’ Meeting, the time
limit for postponement and re-invitation shall not exceed the time limit for
holding of the General Members’ Meeting as stipulated in Clause 2 Article 37
hereof).
6. Decision to amend or supplement the Charter,
resolve and file for bankruptcy of the cooperative bank shall be approved only
if more than 3/4 (three-quarters) of the members or representatives of members
present at the General Members’ Meeting vote in favor of that decision.
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8. Casting votes at the General Members’ Meeting
shall not be subject to the amount of capital contributed, or titles held, by
members of the cooperative bank. Each member shall be given only one ballot. A
ballot shall represent the number of members of which the representative acts
on behalf.
Article 40. Notice of convening of General
Members’ Meeting
The body convening the General Members’ Meeting
must send an invitation to each member or representative within a period of not
later than 07 (seven) business days before opening of the meeting if the
Charter of the cooperative bank does not provide for specific time limit. The
invitation must specify the meeting time, venue, contents, agenda and
discussion materials.
Chapter VII
OPERATIONS OF THE COOPERATIVE BANK
Article 41. Transactions with member people's
credit funds [13]
1. Receive deposits from and offer loans for
trade-off purposes to member people’s credit funds under capital trade-off
regulations.
Institution and contents of capital trade-off
regulations must conform to the following principles:
a) People's credit funds deposit their money
(either indefinite or definite term) in the cooperative bank for capital
trade-off purposes. In case of premature withdrawal, people’s credit funds must
inform the cooperative bank in advance;
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c) Subsidization regulations on the deposit
facility interest rate must be applied, and the lending facility interest rate
on loans for trade-off purposes must be explicit, unprofitable and promote
association between the cooperative bank and its member people’s credit funds;
d) Specific regulations on applicable subjects,
limits, processes, dossiers and evidence documents relating to acceptance of
deposits and grant of loans on a trade-off basis must be made;
dd) The cooperative bank must establish, collect
opinions from all of the member people’s credit funds on, and approve capital
trade-off regulations at the General Members' Meeting of the cooperative bank.
After introducing the capital trade-off regulations, the cooperative bank shall
hold training sessions for, and disseminate information about these regulations
to, member people's credit funds, and send them to the SBV (Banking Supervision
Agency) to perform its inspection and supervision activities. Amendments to
capital trade-off regulations must be approved by the General Members' Meeting
of the cooperative bank.
2. Offer loans to member people's credit funds to
deal with temporary difficulties in liquidity.
3. Open checking accounts, and provide payment
instruments to member people's credit funds.
4. Design, develop and use new products and
services in activities of member people’s credit funds to meet these members’
demands and serve the purpose of multiplying community benefits throughout its
area.
5. Perform other banking transactions with member
people’s credit funds as prescribed.
Article 42. Transactions with customers other
than member people's credit funds
1. The cooperative bank shall be entitled to
perform certain banking and other business activities according to Section 2
Chapter IV of the Law on Credit Institutions after obtaining a written approval
from the SBV.
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3. As the case may be, the SBV can impose
restrictions on credit granted by the cooperative bank to customers other than
member people's credit funds.
Article 43. Application of regulations on safety
for banking activities
The cooperative bank shall implement regulations on
safety for banking activities in accordance with the Law on Credit Institutions
and the SBV’s specific directives.
Chapter VIII
RIGHTS AND RESPONSIBILITIES OF THE COOPERATIVE BANK IN
A RELATIONSHIP WITH PEOPLE’S CREDIT FUNDS
Article 44. Rights and powers [14]
1. Obtain information about operations of people’s
credit funds from the SBV.
2. Request people’s credit funds to provide
information and reports used for capital trade-off and system security
monitoring purposes.
3. Inspect and oversee use of loans and capacity to
repay loans obtained by member people’s credit funds from the cooperative bank.
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Article 45. Responsibilities [15]
1. Provide member people’s credit funds with
guidance on and training in banking and information technology practices.
2. Assist people’s credit funds in banking
activities as prescribed by laws and regulations.
3. Participate in implementation of remedial
measures in the event that member people’s credit funds are faced with
difficulties or incur risks of safety in their activities.
4. Adopt capital trade-off regulations referred to
in Clause 1 Article 41 hereof after obtaining approval from the General
Members’ Meeting of the cooperative bank.
5. Assist people’s credit funds in carrying out
internal audits as requested by these funds.
6. Contribute opinions in writing on the proposed
list of personnel to be elected and appointed to become the Chairperson and
other members of the Management Board, Head and other members of the Control
Board, Director of member people’s credit funds upon the request of the SBV’s branches
of centrally-affiliated cities and provinces.
7. Perform other responsibilities specified in the
Charter of the cooperative bank and laws.
Chapter IX
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Article 46. Responsibilities of SBV Banking
Supervision Agency [16]
1. Act as the focal point for dealing with
difficulties that may arise during the implementation of this Circular.
2. Collaborate with the SBV’s affiliates in
appraising applications for license, and petition the SBV’s Governor to
consider the case and decide to grant the license to the cooperative bank.
3. Play the leading role and collaborate with
relevant bodies to inspect and supervise the cooperative bank's activities;
keep and request the cooperative bank to amend or supplement capital trade-off
regulations in accordance with Clause 1 Article 41 hereof to make them conform
to laws and regulations whenever necessary.
4. Act as a focal point and collaborate with SBV's
branches to request the SBV's Governor to request the cooperative bank to
inspect its member people's credit funds as prescribed in Clause 4 Article 44
hereof.
5. Provide information and data for competent
bodies or units on the cooperative bank's activities, and compliance with
relevant laws on the cooperative bank's activities.
Article 47. Responsibilities of SBV’s affiliated
units [17]
1. SBV’s affiliates shall:
a) Monitor, and cooperate with the Banking
Supervision Agency on, management of the cooperative bank’s activities within
their jurisdiction and competence;
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2. SBV's branches shall cooperate with the SBV
Banking Supervision Agency to request the cooperative bank to implement Clause
4 Article 44 hereof.
Chapter X
ENTRY INTO FORCE [18],[19],[20],[21],[22]
Article 48. Transition
1. The cooperative bank shall uphold and continue
conformity with legal powers, obligations and benefits, as well as assume
responsibilities for handling any unsolved issues that exist during the operation
of the Central People's Credit Fund in conformity with regulations laid down in
the Law on Credit Institutions and relevant laws.
2. The cooperative bank and customers shall
continue to implement contracts and transactions signed between the Central
People’s Credit Fund and customers which remain valid till the agreed expiry
date. Amending, supplementing and terminating contracts and transactions shall
be carried out by mutual agreement and conform to provisions of the Law on
Credit Institutions and relevant laws.
Article 49. Entry into force
This Circular comes into force from January 01,
2013.
Article 50. Implementation organization
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CERTIFIED BY
PP. GOVERNOR
DEPUTY GOVERNOR
Doan Thai Son
[1]
The Circular No. 09/2016/TT-NHNN amending and supplementing certain articles of
the Circular No. 31/2012/TT-NHNN dated November 26, 2012 of the Governor of the
State Bank of Vietnam on the cooperative bank is promulgated pursuant to:
“The Law on State Bank of Vietnam No.
46/2010/QH12 dated June 16, 2010;
The Law on Credits Institutions No. 47/2010/QH12
dated June 16, 2010;
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The Law on Cooperatives No. 23/2012/QH13 dated
November 20, 2012;
The Government’s Decree No. 156/2013/ND-CP dated
November 11, 2013 defining functions, tasks, powers and organizational
structure of the State Bank of Vietnam (SBV);
At the request of the Head of the SBV Banking
Supervision Agency;”
[2]
The Circular No. 05/2018/TT-NHNN prescribing application and procedures for
approval for changes and lists of personnel to be elected and appointed of
credit institutions that are cooperatives is promulgated pursuant to:
“The Law on the State Bank of Vietnam
dated June 16, 2010;
The Law on Credit Institutions dated June 16,
2010 and the Law on amendments to the Law on Credit Institutions dated November
20, 2017;
The Government's Decree No. 16/2017/ND-CP dated
February 17, 2017 prescribing functions, tasks, powers and organizational
structure of the State Bank of Vietnam;
At the request of the Head of the SBV Banking
Supervision Agency;”
[3]
The Circular No. 17/2018/TT-NHNN providing amendments to Circulars on licensing,
business network and foreign exchange operations of credit institutions and
foreign bank branches is promulgated pursuant to:
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The Law on Credit Institutions dated June 16,
2010 and the Law on amendments to the Law on Credit Institutions dated November
20, 2017;
The Government's Decree No. 16/2017/ND-CP dated
February 17, 2017 prescribing functions, tasks, powers and organizational
structure of the State Bank of Vietnam; and
At the request of the Director of the Legal
Department;”
[4]
The Circular No. 21/2019/TT-NHNN amending and supplementing certain articles of
Circulars on cooperative bank, people’s credit funds and fund for maintenance
of prudence of the system of people's credit funds is promulgated pursuant to:
“The Law on the State Bank of Vietnam
dated June 16, 2010;
The Law on Credit Institutions dated June 16,
2010 and the Law on amendments to the Law on Credit Institutions dated November
20, 2017;
The Law on cooperatives dated November 20, 2012;
The Government's Decree No. 16/2017/ND-CP dated
February 17, 2017 prescribing functions, tasks, powers and organizational
structure of the State Bank of Vietnam; and
At the request of the Head of the SBV Banking
Supervision Agency;”
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“The Law on the State Bank of Vietnam
dated June 16, 2010;
The Law on Credit Institutions dated June 16,
2010 and the Law providing amendments to the Law on Credit Institutions dated
November 20, 2017;
The Government's Decree No. 102/2022/ND-CP dated
December 12, 2022 prescribing functions, tasks, powers and organizational
structure of the State Bank of Vietnam; and
At the request of the Head of the SBV Banking
Supervision Agency;”
[6]
This clause is abrogated according to Article 5 of the Circular No.
17/2018/TT-NHNN amending and supplementing certain articles of Circulars
prescribing licensing, business network and foreign exchange operations of
credit institutions and foreign bank branches, and entering into force from
October 01, 2018.
[7]
This point is abrogated according to clause 2 Article 1 of the Circular No.
24/2023/TT-NHNN providing amendments to Circulars on submission, presentation
and provision of information and documents on population upon carrying out
administrative procedures related to establishment and operation of banks, and
entering into force from March 01, 2024.
[8]
This point is amended according to clause 1 Article 1 of the Circular No.
24/2023/TT-NHNN providing amendments to Circulars on submission, presentation
and provision of information and documents on population upon carrying out
administrative procedures related to establishment and operation of banks, and
entering into force from March 01, 2024.
[9]
This point is abrogated according to clause 2 Article 1 of the Circular No.
24/2023/TT-NHNN providing amendments to Circulars on submission, presentation
and provision of information and documents on population upon carrying out
administrative procedures related to establishment and operation of banks, and
entering into force from March 01, 2024.
[10]
This clause is abrogated according to point c clause 2 Article 18 of the
Circular No. 05/2018/TT-NHNN prescribing application and procedures for
approval for changes and lists of personnel to be elected and appointed of
credit institutions that are cooperatives, and entering into force from June
01, 2018.
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[12]
This clause is amended according to clause 1 Article 1 of the Circular No.
21/2019/TT-NHNN amending and supplementing certain articles of Circulars on
cooperative bank, people’s credit funds and fund for maintenance of prudence of
the network of people's credit funds, and entering into force from January 01,
2020.
[13]
This Article is amended according to Clause 1 Article 1 of the Circular No.
09/2016/TT-NHNN amending and supplementing certain articles of the Circular No.
31/2012/TT-NHNN dated November 26, 2012 of the Governor of the State Bank of
Vietnam prescribing cooperative bank, and entering into force from August 15,
2016.
[14]
This Article is amended according to clause 2 Article 1 of the Circular No.
21/2019/TT-NHNN dated November 14, 2019 of the Governor of the State Bank of
Vietnam amending and supplementing certain articles of Circulars on cooperative
bank, people’s credit funds and fund for maintenance of prudence of the network
of people's credit funds, and entering into force from January 01, 2020.
[15]
This Article is amended according to Clause 3 Article 1 of the Circular No.
09/2016/TT-NHNN amending and supplementing certain articles of the Circular No.
31/2012/TT-NHNN dated November 26, 2012 of the Governor of the State Bank of
Vietnam prescribing cooperative bank, and entering into force from August 15,
2016.
[16]
This Article is amended according to clause 3 Article 1 of the Circular No.
21/2019/TT-NHNN dated November 14, 2019 of the Governor of the State Bank of
Vietnam amending and supplementing certain articles of Circulars on cooperative
bank, people’s credit funds and fund for maintenance of prudence of the network
of people's credit funds, and entering into force from January 01, 2020.
[17]
This Article is amended according to clause 4 Article 1 of the Circular No.
21/2019/TT-NHNN dated November 14, 2019 of the Governor of the State Bank of Vietnam
amending and supplementing certain articles of Circulars on cooperative bank,
people’s credit funds and fund for maintenance of prudence of the network of
people's credit funds, and entering into force from January 01, 2020.
[18]
Article 2 of the Circular No. 09/2016/TT-NHNN amending and supplementing
certain articles of the Circular No. 31/2012/TT-NHNN dated November 26, 2012 of
the Governor of the State Bank of Vietnam governing the cooperative bank, and
entering into force from August 15, 2016, stipulates as follows:
“Article 2. Entry into force
1. This Circular comes into force from August
15, 2016.
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[19]
Article 17, Article 18 and Article 19 of the Circular No. 05/2018/TT-NHNN
prescribing application and procedures for approval for changes and lists of
personnel to be elected and appointed of credit institutions that are
cooperatives, and entering into force from June 01, 2018, stipulate as follows:
“Article 17. Transition
Applications for approval for changes or the
contents mentioned in Clause 1 Article 1 of this Article or the list of
recommended persons as prescribed in Clause 2 Article 1 of this Circular, which
are submitted by the credit institutions that are cooperatives before the date
of entry into force of this Circular shall be processed in accordance with
applicable laws and regulations if they are adequate, valid and conformable
with laws applicable at the date of submission, or modified and processed
according to this Circular.
Article 18. Entry into force
1. This Circular comes into force from June 01,
2018.
2. From the effective date of this Circular, the
following regulations shall be no longer legally valid:
a) Decision No. 05/2007/QD-NHNN dated January
30, 2007 of the Governor of the State Bank of Vietnam prescribing procedures
for changes in people’s credit funds, which require approval from the State
Bank;
b) Decision No. 35/2008/QD-NHNN dated December
16, 2008 of the Governor of the State Bank of Vietnam amending and
supplementing certain Articles of regulations on procedures for changes in
people’s credit funds, which require approval from the State Bank, enclosed
with the Decision No. 05/2007/QD-NHNN dated January 30, 2007 of the Governor of
the State Bank of Vietnam;
c) Clause 2 Article 22 of the Circular No.
31/2012/TT-NHNN dated November 26, 2012 of the Governor of the State Bank of
Vietnam on the cooperative bank;
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Article 19. Implementation organization
The Chief of the Office, the Head of the SBV
Banking Supervision Agency, heads of relevant entities affiliated to the SBV,
Directors of the SBV’s branches in provinces or central-affiliated cities,
Chairpersons and members of the Board of Members, heads and members of Control
Boards and General Directors (Directors) of credit institutions that are
cooperatives shall implement this Circular./.”
[20]
Article 7 and Article 8 of the Circular No. 17/2018/TT-NHNN amending and
supplementing certain articles of Circulars prescribing licensing, business
network and foreign exchange operations of credit institutions and foreign bank
branches, and entering into force from October 01, 2018, stipulate as follows:
“Article 7. Responsibility for
implementation
The Chief of the Office, Director of Legal
Department, heads of relevant entities affiliated to the SBV, Directors of the
SBV’s branches in provinces or central-affiliated cities, Chairpersons of the
Management Board, Chairperson of the Board of Members, and General Directors
(Directors) of credit institutions and foreign bank branches shall implement
this Circular.
Article 8. Effect
This Circular comes into force from October 01,
2018./.”
[21]
Article 7 and Article 8 of the Circular No. 21/2019/TT-NHNN amending and supplementing
certain articles of Circulars on cooperative bank, people’s credit funds and
fund for maintenance of prudence of the system of people's credit funds, and
entering into force from January 01, 2020, stipulate as follows:
“Article 7. Responsibility for
implementation
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Article 8. Implementation
1. This Circular comes into force from January
01, 2020.
2. This Circular shall nullify:
a) Article 1 and Clauses 3, 4, 6, 7, 8, 9
Article 2 of the Circular No. 06/2017/TT-NHNN dated July 05, 2017 of the
Governor of the State Bank of Vietnam amending and supplementing certain
articles of the Circular No. 03/2014/TT-NHNN dated January 23, 2014 of the
Governor of the State Bank of Vietnam on maintenance of prudence of the system
of people’s credit funds and the Circular No. 04/2015/TT-NHNN dated March 31,
2015 of the Governor of the State Bank of Vietnam on people’s credit funds;
b) Clause 2 and 4 Article 1 of the Circular No.
09/2016/TT-NHNN dated June 17, 2016 of the Governor of the State Bank of
Vietnam amending and supplementing certain articles of the Circular No.
31/2012/TT-NHNN dated November 26, 2012 of the Governor of the State Bank of
Vietnam on the cooperative bank./.”
[22]
Article 9 and Article 10 of the Circular No. 24/2023/TT-NHNN providing
amendments to Circulars on submission, presentation and provision of
information and documents on population upon carrying out administrative
procedures related to establishment and operation of banks, and entering into
force from March 01, 2024 stipulate as follows:
“Article 9. Responsibility for
implementation
The Chief of Office, Head of SBV Banking
Supervision Agency, heads of units affiliated to the SBV, credit institutions,
foreign bank branches and relevant organizations and individuals are
responsible for the implementation of this Circular.
Article 10. Implementation
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2. Applications which have been submitted to the
SBV before the effective date of this Circular shall still be processed in
accordance with the provisions of the Circular No. 01/2023/TT-NHNN, the
Circular No. 03/2018/TT-NHNN, the Circular No. 22/2022/TT-NHNN, the Circular
No. 10/2018/TT-NHNN, the Circular No. 23/2018/TT-NHNN, the Circular No.
25/2017/TT-NHNN, and the Circular No. 22/2018/TT-NHNN.
3. This Circular annuals clause 13 Article 2 of the
Circular No. 13/2019/TT-NHNN dated August 21, 2019 of the Governor of SBV
on amendments to some Circulars on licensing, organization and operation of
credit institutions and foreign bank branches.”
[23]
This Appendix is replaced according to clause 3 Article 1 of the Circular No.
24/2023/TT-NHNN providing amendments to Circulars on submission, presentation
and provision of information and documents on population upon carrying out
administrative procedures related to establishment and operation of banks, and
entering into force from March 01, 2024.
[24]
This Appendix is replaced according to clause 3 Article 1 of the Circular No.
24/2023/TT-NHNN providing amendments to Circulars on submission, presentation
and provision of information and documents on population upon carrying out
administrative procedures related to establishment and operation of banks, and
entering into force from March 01, 2024.