Circular No. 04/2006/TT-NHNN guiding the implementation of Decree No. 12/2006/NĐ-CP dated January 23, 2006 detailing the enforcement of the Law on Trade regarding international goods trading activities and foreign goods trading, consignment, processing, and transit activities for goods under the specialized management of the State Bank of Vietnam.

CIRCULAR

Guidelines for Implementing Decree No. 12/2006/NĐ-CP dated January 23, 2006

detailing the implementation of the Commercial Law on international trade activities and agency purchase, sale, processing, and transit of goods with foreign countries

and other activities involving foreign goods subject to specialized management by the State Bank of Vietnam

Pursuant to Decree No. 12/2006/NĐ-CP dated January 23, 2006 of the Government detailing the implementation of the Commercial Law on international trade activities and agency purchase, sale, processing, and transit of goods with foreign countries;

Pursuant to Decision No. 41/2005/QĐ-TTg dated March 2, 2005 of the Prime Minister promulgating the Import License Issuance Regulation;

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The State Bank of Vietnam (hereinafter referred to as the State Bank) provides guidelines for the export and import of goods subject to specialized management by the State Bank as follows:

Article 1. These guidelines apply to the import of goods subject to specialized management by the State Bank. The State Bank manages the import of such goods through two methods: issuing import licenses and designating enterprises authorized to import.

Article 2. The State Bank shall publish the List of Goods Subject to Specialized Management by the State Bank according to the provisions of Section III, Appendix No. 03 issued together with Decree No. 12/2006/NĐ-CP dated January 23, 2006 of the Government detailing the implementation of the Commercial Law on international trade activities and agency purchase, sale, processing, and transit of goods with foreign countries in Appendix No. 01 of this Circular.

This technical regulation sets out technical requirements, testing methods, sampling procedures; management requirements; responsibilities of organizations and individuals producing, trading, and importing cigarettes.

II. PROVISIONS ON IMPORT OF GOODS REQUIRING A LICENSE

1. The State Bank shall manage the import of the following machinery and equipment through the issuance of import licenses:

a) Currency shredders;

b) Cash vault doors.

2. Entities eligible to obtain import licenses for currency shredders and cash vault doors include units under the State Bank, enterprises directly affiliated with the State Bank, credit institutions, and other traders.

3. Conditions for import: Imported cash vault doors and currency shredders must comply with technical standards for cash vault doors and currency shredders prescribed by the Governor of the State Bank during each period.

4. Documents required for application for an import license:

a) For enterprises directly affiliated with the State Bank, credit institutions, and other traders:

- Application form for an import license (according to Form No. 02);

- Certified copies: Decision on establishment or Business Registration Certificate (certified copy or photocopied original for comparison);

- Technical documentation of the equipment (original and Vietnamese translation).

b) For units under the State Bank:

- Approval from the Governor of the State Bank for the installation of imported cash vault doors and currency shredders.

5. Time limit for processing the issuance of an import license:

- Technical documentation of the equipment (original and Vietnamese translation).

Within six working days from the date of receipt of complete and valid documents, the State Bank shall issue an import license. In case of refusal to issue a license, the State Bank shall provide a written response stating the reasons within the aforementioned time frame.

- Approval from the Governor of the State Bank for the installation of imported cash vault doors and currency shredders.

6. Validity period of the license: The license is valid until the last day of the month in which the entity plans to import the goods.

7. Address for submission of documents and processing of import license applications:

Department of Issue and Treasury - State Bank of Vietnam, 47-49 Ly Thai To Street, Hanoi.

8. Responsibilities of entities issuing licenses:

The Governor of the State Bank assigns the Director of the Department of Issue and Treasury to examine and issue import licenses for cash vault doors and currency shredders; monitor and manage the use of goods subject to specialized management by the State Bank for their intended purposes.

9. Responsibilities of importing entities or entities entrusted with imports (if any):

- Carry out the importation in accordance with the quantity, quality, and type of goods specified, ensuring compliance with technical standards set by the State Bank, and adhering to current regulations on the importation of goods.

- The importing entity must use the imported goods for their intended purpose.

- Within three months from the date of clearance, the importing entity must submit a written report to the State Bank (Department of Issue and Treasury) regarding the use of the imported goods.

10. Extension of the license:

a) An entity applying for an import license wishing to extend the validity of the license must submit a written request specifying the reasons and duration of the extension to the State Bank before the expiration date indicated on the previously issued license (accompanied by proof of delay in the importation of goods).

b) Within five working days from the date of receipt of the request for an extension of the import license, the State Bank must notify in writing whether it approves or rejects the extension of the import license.

III. PROVISIONS ON IMPORTED GOODS MANAGED THROUGH DESIGNATION OF ENTERPRISES AUTHORIZED TO IMPORT

Items listed in Sections 3, 4, 5, 6, and 7 of Appendix No. 01 of this Circular are goods managed by the State Bank. The State Bank authorizes the National Note Printing Factory (an enterprise directly affiliated with the State Bank) to directly import these items upon written approval from the Governor of the State Bank.

IV. EFFECTIVE DATE

This Circular takes effect fifteen days after its publication in the Official Gazette. The following documents cease to be effective:

- Circular No. 06/2001/TT-NHNN dated August 24, 2001 of the Governor of the State Bank guiding the implementation of Decision No. 46/2001/QĐ-TTg dated April 4, 2001 of the Prime Minister on the management of exports and imports of goods during the 2001-2005 period for goods subject to specialized management by the State Bank;

- Circular No. 08/2004/TT-NHNN dated December 3, 2004 of the Governor of the State Bank amending and supplementing certain points of Circular No. 06/2001/TT-NHNN dated August 24, 2001 of the Governor of the State Bank guiding the implementation of Decision No. 46/2001/QĐ-TTg dated April 4, 2001 of the Prime Minister on the management of exports and imports of goods during the 2001-2005 period for goods subject to specialized management by the State Bank./.

This Circular takes effect fifteen days after its publication in the Official Gazette. The following consolidated documents shall cease to be in force:

- Circular No. 06/2001/TT-NHNN dated August 24, 2001, issued by the Governor of the State Bank of Vietnam on guiding the implementation of Decision No. 46/2001/QĐ-TTg dated April 4, 2001, of the Prime Minister on managing exports and imports of goods during the period 2001-2005 for goods under the specialized management of the State Bank of Vietnam;

- Circular No. 08/2004/TT-NHNN dated December 3, 2004, issued by the Governor of the State Bank of Vietnam on amending and supplementing certain points of Circular No. 06/2001/TT-NHNN dated August 24, 2001, issued by the Governor of the State Bank of Vietnam on guiding the implementation of Decision No. 46/2001/QĐ-TTg dated April 4, 2001, of the Prime Minister on managing exports and imports of goods during the period 2001-2005 for goods under the specialized management of the State Bank of Vietnam./.