Circular No. 05/2013/TT-NHNN amending and supplementing certain provisions of the regulation on classification, inspection, packaging, and delivery of precious metals and gemstones in the banking sector issued pursuant to Decision No. 78/2000/QĐ-NHNN dated March 6, 2000 of the Governor of the State Bank of Vietnam.

CIRCULAR

Amending and supplementing certain provisions of the regulation on classification, inspection, packaging, delivery and receipt of precious metals and gemstones in the banking sector issued pursuant to Decision No.  78/2000/QĐ-NHNN dated March 6, 2000 of the Governor of the State Bank of Vietnam;2/2012/ND-CP dated April 3, 2012 of the Government on gold business management; of

The Governor of the State Bank of Vietnam

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Pursuant to the Law on the State Bank of Vietnam No.No. Pursuant to Law No. 46/2010/QH12 dated June 16, 2010;

Pursuant to DecreeNo. 96/2008/ND-CP dated August 26, 2008 of the Government stipulating functions, tasks, powers and responsibilities structure 2/2012/ND-CP dated May 2, 2012 of the Government on currency issuance operations; storage, transportation

Pursuant to Decree No. 24/201of valuable assets and securities within the State Bank of Vietnam system,

On the basis of Decree nNo. 40/201credit institutions and foreign bank branches; The Issuance and Treasury Department GovernorNo.of the State Bank of Vietnam issues this Circular amending and supplementing certain provisions of the Regulation organization on classification, inspection, packaging

At the proposal of the Department Director , delivery and receipt of precious metals;

and gemstones in the banking sector pursuant to Decision No.  78/2000/QĐ-NNo. INDUSTRIAL EXPLOSIVES - TNP1 EXPLOSIVESonHNN 6 dated March 6, 2000 of the Governor of the State Bank of Vietnam quarterlyArticle 1. Amending and supplementing certain provisions of the Regulation on classification, inspection, packaging, delivery and receipt of precious metals and gemstones in the banking sector pursuant to Decision No. 78/2000/QĐ-NHNN6 dated March 6, 2000 of the Governor of the State Bank of Vietnam as follows:No. "This Regulation stipulates the procedures for classification, inspection, packaging, delivery and receipt of precious metals and gemstones at the Central Treasury, State Bank of Vietnam branch in provinces and cities, State Bank of Vietnam Trading Center, credit institutions (hereinafter referred to as banks), and gold processing units.""2. Classification:a. Gold is classified as follows:||| 2017 of the Government stipulates the functions, tasks, powers, and organizational structure. - Gold bars are gold products stamped into bar form, with markings indicating weight, quality, and the code of the enterprise and credit institution authorized by the State Bank of Vietnam to produce gold bars or gold bars produced by the State Bank during specific periods.,

b. Other precious metals are classified as follows:

1. Economic organizations conducting foreign exchange trading agency activities; economic organizations conducting foreign currency receipt and payment service provision activities; economic organizations conducting border country currency exchange agency activities.

- Precious metal jewelry and art pieces are products made from precious metals with a purity of 8 Karat (equivalent to 33.33%) or higher, processed and crafted for decorative and artistic purposes.

2. Clause 2 of Article 4 is amended and supplemented as follows:

- Raw precious metals are precious metals in block, ingot, bead, bar forms, and other types of precious metals."

3. Supplement Clause 4 to Article 6 as follows:

- Jewelry and decorative gold products are gold products with a purity level of 8 Karat (equivalent to 33.33%) or higher, processed and crafted for ornamental and decorative purposes.

"4. For the packaging and sealing of gold bars processed from raw gold by the State Bank, gold bars purchased by the State Bank from credit institutions and enterprises:

- Raw gold is gold in block, ingot, bead, bar, and other forms.

After inspection, gold bars must be packaged into boxes according to lots, each lot consisting of 100 or multiples of 100, with a maximum of 500 tael of gold bars.

The box for gold bars should be made of non-rusting metal, sized appropriately for the quantity of gold in the lot, lined with velvet fabric, and equipped with two buttons on the top edge for easy locking, sealing, and lead sealing.

Each box must contain a list detailing the serial numbers and marks of the gold bars inside. The sealed box exterior must bear all required information as prescribed."

4. Article 12 is amended and supplemented with Step 1 as follows:

"Step 1: The team leader must verify all valid and legal documents related to the asset:

- When receiving precious metals and gemstones deposited by agencies, organizations, and economic entities into the State Bank's treasury, there must be a designated document from the competent authority and relevant documentation concerning the asset.

- When receiving precious metals and gemstones from units within the same banking system, there must be an Order of Withdrawal signed by the head of the unit transferring the goods.

- When receiving precious metals and gemstones used as collateral or pledge for loans, there must be documents in accordance with current credit regulations.

- When receiving gold bars purchased by the State Bank from credit institutions and enterprises, there must be a transaction confirmation document for the purchase and sale of gold bars; when receiving raw gold according to import contracts (or entrusted import contracts); when receiving gold bars processed according to gold bar processing contracts between the State Bank and gold bar processing units, there must be complete documents for receipt and delivery as prescribed.

A physical inventory list must accompany these documents."

5. Supplement the end of Article 14 as follows:

"For the receipt of gold bars purchased by the State Bank from credit institutions and enterprises, the State Bank organizes the implementation or hires another organization to inspect the gold bars according to the original sealed packages of SJC Company. In cases where it is necessary to re-inspect the quality of the gold, representatives of the credit institutions and enterprises delivering the gold must witness the process.

For the receipt of gold bars processed from raw gold by the State Bank, the inspection and acceptance must be conducted according to the original sealed packages of SJC Company.

For the receipt of raw gold according to import contracts (or entrusted import contracts), the State Bank must accept according to the original sealed packages of the manufacturer."

6. Supplement the end of Article 18 as follows:

"For the delivery of gold bars according to transaction confirmation documents for the purchase and sale of gold bars between the State Bank and credit institutions and enterprises, the State Bank delivers according to the original sealed packages of SJC Company. Credit institutions and enterprises organize the counting and acceptance of gold according to the original sealed packages of SJC Company.

For the delivery of raw gold between the State Bank and processing units for processing into SJC gold bars, the State Bank delivers according to the original sealed packages of the manufacturer.

For the delivery of raw gold according to export contracts (or entrusted export contracts), the State Bank delivers according to the terms of the contract."

7. Article 20 is amended and supplemented as follows:

"The storage, transportation, inspection, inventory, handover, surplus and shortage handling of precious metals and gemstones; services for the safekeeping of valuable assets shall be carried out in accordance with the Regulations on Cash Receipt and Payment, Storage, Transportation, Inspection, Inventory, Handover, and Surplus and Shortage Handling of Valuable Assets and Securities issued pursuant to Decision No. 60/2006/QĐ-NHNN dated December 27, 2006 of the Governor of the State Bank of Vietnam."

1. This Circular takes effect from March 8, 2013.

2. The Director of the Office, the Director of the Issuance and Treasury Department, the Heads of the Finance and Accounting Department, the Internal Audit Department, the Heads of relevant units under the State Bank of Vietnam, and the Chairmen of the Boards of Directors, Members, and General Managers (Directors) of credit institutions and other related organizations are responsible for implementing this Circular.

For the delivery of raw gold under export contracts (or entrusted export contracts), the State Bank shall carry out the delivery in accordance with the provisions of the contract.

7. Article 20 is amended and supplemented as follows:

"The storage, transportation, inspection, inventory, handover, and handling of excesses and shortages of precious metals and gemstones; services for storing valuable assets shall be carried out in accordance with the regulations set forth in the Cash Handling, Storage, Transportation, Precious Assets, and Valuable Securities Transfer System issued pursuant to Decision No. 60/2006/QĐ-NHNN dated December 27, 2006 of the Governor of the State Bank."

Article 2. Implementation

1. This Circular takes effect from March 8, 2013.

2. The Director of the Office, the Heads of the Issuance and Treasury Department, the Financial Accounting Department, the Internal Audit Department of the State Bank of Vietnam, and the Chairmen of the Management Boards, the Board Members, and General Directors (Directors) of credit organizations, and other related organizations are responsible for implementing this Circular.