Contents of Law 47/2010/QH12 on Credit Institutions

LAW ON CREDIT INSTITUTIONS (BANKS) IN VIETNAM‎ > ‎Law 47/2010/QH12 on Credit Institutions (Banks)‎ > ‎

Contents of Law 47/2010/QH12 on Credit Institutions

1.1 Article 1. Scope of regulation
1.2 Article 2. Subjects of application This Law applies to:
1.3 Article 3. Application of the Law on Credit Institutions, treaties, international commercial practices and relevant laws
1.4 Article 4. Interpretation of terms
1.5 Article 5. Use of terms related to banking operations
1.6 Article 6. Organizational forms of credit institutions
1.7 Article 7. Autonomy in operation
1.8 Article 8. Right to conduct banking operations
1.9 Article 9. Cooperation and competition in banking operations
1.10 Article 10. Protection of client interests
1.11 Article 11. Responsibilities for prevention and control of money laundering and terrorism financing
1.12 Article 12. Representatives at law of credit institutions
1.13 Article 13. Provision of information
1.14 Article 14. Confidentiality of information
1.15 Article 15. Backup database
1.16 Article 16. Share purchase by foreign investors
1.17 Article 17. Policy banks

2 Chapter II. LICENSES

2.1 Article 18. Competence to grant and revoke licenses
2.2 Article 19. Legal capital
2.3 Article 20. Licensing conditions
2.4 Article 21. Dossiers, order and procedures for license application
2.5 Article 22. Licensing time limit
2.6 Article 23. Licensing fees
2.7 Article 24. Business and operation registration
2.8 Article 25. Publicity of operation
2.9 Article 26. Conditions for inaugurating operation
2.10 Article 27. Use of licenses
2.11 Article 28. Revocation of licenses
2.12 Article 29. Changes subject to the State Bank's approval

3 Chapter III. ORGANIZATION, GOVERNANCE AND ADMINISTRATION OF CREDIT INSTITUTIONS
4 Section I. GENERAL PROVISIONS

4.1 Article 30. Establishment of branches, representative offices, non-business units and commercial presence
4.2 Article 31. Charter
4.3 Article 32. Management organizational structure of credit institutions
4.4 Article 33. Cases banned from holding posts
4.5 Article 34. Cases banned from concurrently holding different posts
4.6 Article 35. Automatic loss of status
4.7 Article 36. Relief from duty, dismissal
4.8 Article 37. Termination and suspension of holders of posts of the Board of Directors, Members' Council. Control Board and Director General (Director)
4.9 Article 38. Rights and obligations of managers and executives of a credit institution
4.10 Article 39. Responsibilities for publicity of related interests
4.11 Article 40. internal control system
4.12 Article 41. Internal audit
4.13 Article 42. Independent audit

5 Section 2. GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS BEING JOINT-STOCK COMPANIES AND . LIMITED LIABILITY COMPANIES

5.1 Article 43. Board of Directors and Members' Council and their structures
5.2 Article 44. Control Board and its structure
5.3 Article 45. Tasks and powers of the Control Board
5.4 Article 46. Rights and obligations of the head of a Control Board
5.5 Article 47. Rights and obligations of Control Board members
5.6 Article 48. Director General (Director)
5.7 Article 49. Rights and obligations of the Director General (Director)
5.8 Article 50. Criteria and conditions for mangers, executives and holders of some other posts of a credit institution
5.9 Article 51. Approval of lists of nominees for the posts of member of the Board of Directors or Members' Council and Control Board and Director General (Director) of a credit institution

6 Section 3. CREDIT INSTITUTIONS BEING JOINT-STOCK COMPANIES

6.1 Article 52. Types of shares, shareholders
6.2 Article 53, Rights of common shareholders
6.3 Article 54. Obligations of common shareholders
6.4 Article 55. Share ownership rate
6.5 Article 56. Offering and transfer of shares
6.6 Article 57. Redemption of shareholders' shares
6.7 Article 58. Stocks
6.8 Article 59. Shareholders' General Meeting
6.9 Article 60. Convening the Shareholders' General Meeting at the request of the State Bank
6.10 Article 61. Reporting on results of meetings of Shareholders' General Meeting
6.11 Article 62. Board of Directors of a credit institution being a joint-stock company
6.12 Article 63. Tasks and powers of the Board of Directors
6.13 Article 64. Rights and obligations of the Chairman of the Board of Directors
6.14 Article 65. Rights and obligations of members of the Board of Directors

7 Section 4. CREDIT INSTITUTIONS BEING ONE-MEMBER LIMITED LIABILITY COMPANIES

7.1 Article 66. Tasks and powers of owners
7.2 Article 67. Tasks and powers of the Members' Council
7.3 Article 68. Rights and obligations of the Chairman of the Members' Council
7.4 Article 69. Rights and obligations of members of the Members' Council

8 Section 5. CREDIT INSTITUTIONS BEING LIMITED LIABILITY COMPANIES WITH TWO OR MORE MEMBERS

8.1 Article 70. Capital contributors and their tasks and powers
8.2 Article 71. Transfer and redemption of contributed capital
8.3 Article 72. Members' Council

9 Section 6. CREDIT INSTITUTIONS BEING COOPERATIVES

9.1 Article 73. Operation characteristics and objectives
9.2 Article 74. Establishment of credit institutions being cooperatives
9.3 Article 75. Organizational structure
9.4 Article 76. Charter capital
9.5 Article 77. Charter
9.6 Article 78. Rights of members
9.7 Article 79. Obligations of members
9.8 Article 80. Members' General Meeting
9.9 Article 81. Board of Directors
9.10 Article 82. Tasks and powers of the Board of Directors
9.11 Article 83. Organization and operation of the Control Board
9.12 Article 84. Tasks and powers of the Control Board
9.13 Article 85. Director General (Director) of a cooperative bank or people's credit fund
9.14 Article 86. Rights and obligations of the Director General (Director)

10 Section 7. MICROFINANCE INSTITUTIONS

10.1 Article 87. Types of microfinance institutions
10.2 Article 88. Members, contributed capital, organizational structure and operation places of microfinance institutions

11 Section 8. FOREIGN HANK BRANCHES IN VIETNAM

11.1 Article 89. Governance and administration of foreign bank branches

12 Chapter IV. OPERATIONS OF CREDIT INSTITUTIONS
13 Section I. GENERAL PROVISIONS

13.1 Article 90. Scope of licensed operations of credit institutions
13.2 Article 91. Interests and charges in business activities of credit institutions
13.3 Article 92. Issue of deposit certificates, promissory notes, treasury bills and bonds by credit institutions
13.4 Article 93. Internal regulations
13.5 Article 94. Consideration and approval of credit and inspection of loan use
13.6 Article 95. Termination of credit extension. settlement of debts and interest rate exemption and reduction
13.7 Article 96. Preservation of credit dossiers
13.8 Article 97. E-banking operations

14 Section 2. OPERATIONS OF COMMERCIAL BANKS

14.1 Article 98. Banking operations of commercial banks
14.2 Article 99. Borrowing of loans from the State Bank
14.3 Article 100. Borrowing of loans from credit institutions and financial institutions
14.4 Article 101. Opening of accounts
14.5 Article 102. Organization of and participation in payment systems
14.6 Article 103. Capital contribution and share purchase
14.7 Article 104. Participation in the monetary market
14.8 Article 105. Dealing in and provision of foreign exchange services and derivative products
14.9 Article 106. Entrustment and agency
14.10 Article 107. Other business activities of commercial banks

15 Section 3. OPERATIONS OF FINANCE COMPANIES

15.1 Article 108. Banking operations of finance companies
15.2 Article 109. Opening of accounts by finance companies
15.3 Article 110. Capital contribution and share purchase by finance companies
15.4 Article 111. Other business activities of finance companies

16 Section 4. OPERATIONS OF FINANCIAL LEASING COMPANIES

16.1 Article 112. Banking operations of financial leasing companies
16.2 Article 113. Financial leasing
16.3 Article 114. Opening of accounts by financial leasing companies
16.4 Article 115. Capital contribution and share purchase by financial leasing companies
16.5 Article 116. Other activities of financial leasing companies

17 Section 5. OPERATIONS OF CREDIT INSTITUTIONS BEING COOPERATIVES

17.1 Article 117. Banking operations of cooperative banks
17.2 Article 118. Operations of people's credit funds

18 Section 6. OPERATIONS OF M1CROFINANCE INSTITUTIONS

18.1 Article 119. Raising of capital by microfinance institutions
18.2 Article 120. Credit extension by microfinance institutions
18.3 Article 121. Opening of accounts by microfinance institutions
18.4 Article 122. Other operations of microfinance institutions

19 Section 7. OPERATIONS OF VIETNAM-BASED FOREIGN BANK BRANCHES

19.1 Article 123. Operations of foreign bank branches

20 Chapter V. REPRESENTATIVE OFFICES OF FOREIGN CREDIT INSTITUTIONS AND OTHER FOREIGN INSTITUTIONS ENGAGED IN BANKING OPERATIONS

20.1 Article 124. Establishment of representative offices
20.2 Article 125. Operations of representative offices

21 Chapter VI. RESTRICTIONS FOR SAFE OPERATIONS OF CREDIT INSTITUTIONS

21.1 Article 126. Cases of ineligibility for credit extension
21.2 Article 127. Credit restrictions
21.3 Article 128. Credit extension limits
21.4 Article 129. Limits on capital contribution and share purchase
21.5 Article 130. Safety ratios
21.6 Article 131. Risk provisions
21.7 Article 132. Real estate trading
21.8 Article 133. Requirements on safety in e-banking operations
21.9 Article 134. Rights and obligations of controlling companies
21.10 Article 135. Capital contribution and share purchase between subsidiaries or affiliated companies and controlling companies

22 Chapter VII. FINANCE, ACCOUNTLNG AND REPORTING

22.1 Article 136. Financial regimes
22.2 Article 137. Fiscal year
22.3 Article 138. Accounting
22.4 Article 139. Reserve funds
22.5 Article 140. Purchase of. and investment in. fixed assets
22.6 Article 141. Reporting
22.7 Article 142. Reports of controlling companies
22.8 Article 143. Disclosure of financial statements
22.9 Article 144. Transfer of profits and assets abroad

23 Chapter VIII. SPECIAL CONTROL, REORGANIZATION, BANKRUPTCY, DISSOLUTION AND LIQUIDATION OF CREDIT INSTITUTIONS

23.1 Article 145. Reporting on liquidity difficulties
23.2 Article 146. Application of special control
23.3 Article 147. Decisions on special control
23.4 Article 148. Tasks and powers of special control boards
23.5 Article 149. Competence of the State Bank toward credit institutions placed under special control
23.6 Article 150. Responsibilities of credit institutions placed under special control
23.7 Article 151. Special loans
23.8 Article 152. Termination of special control

24 Section 2. REORGANIZATION, DISSOLUTION, BANKRUPTCY, LIQUIDATION AND CAPITAL AND ASSET BLOCKAGE

24.1 Article 153. Reorganization of credit institutions
24.2 Article 154. Dissolution of credit institutions and foreign bank branches
24.3 Article 155. Bankruptcy of credit institutions
24.4 Article 156. Liquidation of credit institutions' assets
24.5 Article 157. Blockage of capital and assets of foreign bank branches

25 Chapter IX. STATE MANAGEMENT AGENCIES

25.1 Article 158. State management agencies
25.2 Article 159. Examining, inspecting and supervising competence
25.3 Article 160. Rights and obligations of entities subject to inspection and supervision

26 Chapter X. IMPLEMENTATION PROVISIONS

26.1 Article 161. Transitional provisions
26.2 Article 162. Effect
26.3 Article 163. Implementation detailing and guidance

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