Circular No. 01/2019/TT-NHNN Amending and supplementing certain provisions of Circular No. 30/2015/TT-NHNN dated December 25, 2015 of the Governor of the State Bank of Vietnam on the issuance of Licenses, organization and operation of non-bank financial institutions

CIRCULAR

Amending and supplementing some articles of Circular No. 30/2015/TT-NHNN dated December 25 the 12 year 2015 of the Governor of the State Bank of Vietnam Vietnam

Sports. a) Providing testimonies and expert opinions for the case for which they have been summoned; regarding the issuance of Licenses, organization and operation of

for non-bank credit institutions

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010;

Pursuant to the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated November 20, 2017;

Pursuant to Government Decree No. 16/2017/NĐ-CP dated February 17, 2017 on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 39/2014/NĐ-CP dated May 7, 2014 of the Government on the activities of finance companies and financial leasing companies;

At the proposal of the Director of Banking Inspection and Supervision;

The Governor of the State Bank of Vietnam Vietnam issuing this Circular to amend and supplement some articles of Circular No. 30/2015/TT-NHNN dated December 25, 2015 of the Governor of the State Bank of Vietnam Vietnam stipulating the issuance of Licenses, organization and operation of non-bank credit institutions.

Article 1. Amending and supplementing some articles of Circular No. 30/2015/TT-NHNN dated December 25, 2015 of the Governor of the State Bank of Vietnam Vietnam stipulating the issuance of Licenses, organization and operation of non-bank credit institutions (hereinafter referred to as Circular No. 30/2015/TT-NHNN)

1. Clause 14 Article 3 is amended and supplemented as follows:

“14. Lessee (including both the Seller and Reseller in leasing transactions) is a legal entity or individual operating in Vietnam, directly using assets for leasing purposes.

For households, cooperatives, and other organizations without legal status, when participating in financial lease relations, members of the household, cooperative, or other organization without legal status are subjects participating in establishing and performing financial lease transactions or authorizing representatives to participate in establishing and performing financial lease transactions.”

2. Clause 17 Article 3 is amended and supplemented as follows:

“17. is a legal entity or individual operating in Vietnam.  For households, cooperatives, and other organizations without legal status, when participating in lease operation relations, the members of the household, cooperative, or other organization without legal status are the subjects establishing and performing the lease operation transaction or authorizing representatives to establish and perform the lease operation transaction.

For households, cooperatives, and other organizations without legal status, when participating in operational lease relations, members of the household, cooperative, or other organization without legal status are subjects participating in establishing and performing operational lease transactions or authorizing representatives to participate in establishing and performing operational lease transactions.”

3. Point a Clause 4 Article 14 is amended and supplemented as follows:

“a) Curriculum vitae according to the form prescribed in Appendix No. 02 of this Circular; Criminal record certificate:

For individuals with Vietnamese nationality: Criminal record certificate issued by the authority managing the criminal record database, which must include complete information on criminal records (including expunged and unexpunged criminal records) and information on prohibition from holding positions, establishing, and managing enterprises or cooperatives;

For individuals without Vietnamese nationality: Criminal record certificate or equivalent document (containing complete information on criminal records, including expunged and unexpunged criminal records; information on prohibition from holding positions, establishing, and managing enterprises or cooperatives) must be issued by the competent authority of Vietnam or the competent authority of a foreign country in accordance with regulations;

The criminal record certificate or equivalent document must be issued by the competent authority before the date of submitting the application for License not more than six months;”

4. Point b (ii) Clause 3 Article 15 is amended and supplemented as follows:

“(ii) Curriculum vitae according to the form prescribed in Appendix No. 02 of this Circular; Criminal record certificate issued by the authority managing the criminal record database, which must include complete information on criminal records (including expunged and unexpunged criminal records) and information on prohibition from holding positions, establishing, and managing enterprises or cooperatives;

The criminal record certificate must be issued by the competent authority before the date of submitting the application for License not more than six months;”

5. Point d (ii) Clause 3 Article 15 is amended and supplemented as follows:

“(ii) Curriculum vitae according to the form prescribed in Appendix No. 02 of this Circular; Criminal record certificate of the legal representative, person appointed to represent the shareholding interest of the organization at the non-bank credit institution as prescribed in point a Clause 4 Article 14 of this Circular;”

6. Point c Clause 3 Article 18 is amended and supplemented as follows:

“c) Implement amendments and supplements to the Charter in accordance with the contents of the renewed or additional License and must submit to the State Bank within fifteen days from the date of approval.”

7. Article 22 is amended and supplemented as follows:

“Article 22. Charter, contents for amending and supplementing the Charter

1. The Charter of the non-bank credit institution must contain the main provisions stipulated in Clause 1 Article 31 of the Law on Credit Institutions and must not contravene the provisions of the Law on Credit Institutions and other relevant laws. The non-bank credit institution shall bear full responsibility under the law for the contents of the Charter and amendments and supplements to the Charter.

2. Upon issuance of the License, the non-bank credit institution must submit the Charter approved by the Shareholders' Meeting or Board of Members to the State Bank within fifteen days from the date of approval. In case of amendments and supplements to the Charter, the non-bank credit institution must submit to the State Bank within fifteen days from the date of approval.”

8. Point c Clause 5 Article 35 is amended and supplemented as follows:

“c) The restructuring of debt repayment terms for financial lease payments may be carried out before or within ten days from the due date agreed upon.”

9. Add the phrase "providing loans to credit institutions, branches of foreign banks, domestic and foreign financial organizations in accordance with the law;" at the end of point a Clause 2 Article 4 of Appendix No. 09A and the end of point a Clause 2 Article 4 of Appendix No. 09C.

10. Add point n to Clause 3 Article 4 of Appendix No. 09A, point m to Clause 3 Article 4 of Appendix No. 09B, point n to Clause 3 Article 4 of Appendix No. 09C, and point k to Clause 7 Article 4 of Appendix No. 09D as follows:

"Depositing and receiving deposits from credit institutions, branches of foreign banks, domestic and foreign financial organizations in accordance with the law."

Article 2.

1. Replacing the phrase "Identity Card" with "Identity Card or Citizen Identification Card" in point c (vi) Clause 3 Article 15, Clause 1 Appendix No. 02, Clause 1 Appendix No. 04A of Circular No. 30/2015/TT-NHNN.

2. Replacing the phrase "ID number" with "ID number or citizen identification card number" in Clause 6 Appendix No. 01, Clause 1 Appendix No. 02, Appendix No. 03, Clause 1 Appendix No. 04A, Clause 2, Clause 3 Appendix No. 04B, Clause 1 Guidelines for filling out the form of Appendix No. 05, Clause 3 Appendix No. 06 of Circular No. 30/2015/TT-NHNN.

3. Replace the phrase “Cục Thanh tra, giám sát ngân hàng” with “Cơ quan Thanh tra, giám sát ngân hàng (for areas where there is a Cục Thanh tra, giám sát ngân hàng)” in point a clause 3 Article 10, point d clause 1 Article 41, Article 7 Appendix number 09A, Article 7 Appendix number 09B, Article 7 Appendix number 09C, Article 7 Appendix number 09D Circular number 30/2015/TT-NHNN.

4. Repeal the phrase “vốn ủy thác,” in point b clause 4 Appendix number 04A and point b clause 6 Appendix number 04B Circular number 30/2015/TT-NHNN.

5. Repeal point b (iv), point d (iv) clause 3 Article 15; point d (i), point đ (i) clause 2 Article 19; clause 1, clause 4 Article 39; Article 40; point c, point g clause 1 Article 41 Circular number 30/2015/TT-NHNN.

This Circular takes effect from December 25, 2025/.

The Director of the Office, the Head of Banking Inspection and Supervision, the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam branches in provinces and centrally governed cities, the Chairmen of the Management Boards, the Chairmen of the Member Councils, and the General Directors (Directors) of non-bank credit organizations shall be responsible for organizing the implementation of this Circular.

Article 4. Implementation Provisions

1. This Circular takes effect from March 20, 2019.

2. This Circular abolishes clause 9, clause 10 Article 1 Circular number 15/2016/TT-NHNN dated June 30, 2016 issued by the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circular number 30/2015/TT-NHNN./.