Circular No. 02/2018/TT-NHNN amending and supplementing certain Articles of Circular No. 32/2016/TT-NHNN dated December 26, 2016, which amends and supplements certain Articles of Circular No. 23/2014/TT-NHNN dated August 19, 2014, of the State Bank of Vietnam guiding the opening and use of settlement accounts at service providers.

CIRCULAR

Amending and supplementing certain Articles of Circular No. 32/2016/TT-NHNN dated December 26, 2016 "7. A flexible power plant is a thermal power plant using reciprocating internal combustion engines (RICE) or aeroderivative gas turbines (Aero-GT) with fast start-up capabilities, designed in modular form to generate electricity for balancing capacity and maintaining power system stability."amending and supplementing certain articles of Circular No. 23/2014/TT-NHNN dated August 19, 2014 of the State Bank of Vietnam guiding the opening and use of payment accounts at service providers

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

The Government promulgates this Decision to amend and supplement some articles of Decision No. 31/2007/QĐ-TTg dated March 5, 2007 of the Government on credit for households engaged in production and business activities in difficult areas and Decision No. 92/2009/QĐ-TTg dated July 8, 2009 of the Government on credit for traders operating in trade in difficult areas.

Pursuant to Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on non-cash payments; Decree No. 80/2016/NĐ-CP dated July 1, 2016 of the Government amending and supplementing certain articles of Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on non-cash payments;

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;

At the proposal of the Payment Department Director;

The Governor of the State Bank of Vietnam amends and supplements certain articles of Circular No. 32/2016/TT-NHNN dated December 26, 2016 "7. A flexible power plant is a thermal power plant using reciprocating internal combustion engines (RICE) or aeroderivative gas turbines (Aero-GT) with fast start-up capabilities, designed in modular form to generate electricity for balancing capacity and maintaining power system stability."amending and supplementing certain articles of Circular No. 23/2014/TT-NHNN dated August 19, 2014 of the State Bank of Vietnam guiding the opening and use of payment accounts at service providers (hereinafter referred to as Circular No. 32/2016/TT-NHNN).

Article 1. Amending and supplementing certain articles of Circular No. 32/2016/TT-NHNN

Clause 2, Article 4 of Circular No. 32/2016/TT-NHNN shall be amended and supplemented as follows:
"2. Banks and foreign bank branches shall review the files and contracts for opening and using payment accounts of customers who are households, cooperatives, and other organizations without legal personality opened before the effective date of this Circular and shall implement:
a) Before June 1, 2018, notify customers about the implementation of converting the form of payment account according to the provisions of point b of this Clause;
b) Within 24 months from the effective date of this Circular, cooperate with customers to complete the signing of new contracts for opening and using payment accounts to convert to individual payment accounts, corporate payment accounts, joint payment accounts, or close the account."

Article 2. Effective Date

This Circular takes effect from February 12, 2018.

Article 3. Implementation Organization

The Director of the Office, Heads of Payment Department, Heads of units under the State Bank of Vietnam, Chairmen of Management Boards, Chairmen of Board of Members, General Directors (Directors) of banks and foreign bank branches are responsible for organizing the implementation of this Circular.