Circular No. 10/2010/TT-NHNN amends Clause 2 and Clause 3 of Article 2 of Circular No. 01/2010/TT-NHNN dated January 6, 2010 regarding the abolition of Decision No. 03/2006/QD-NHNN dated January 18, 2006 on gold trading on foreign accounts and Decision No. 11/2007/QD-NHNN dated March 15, 2007 on amending and supplementing Decision No. 03/2006/QD-NHNN.

✦ Smart summary

Circular No. 10/2010/TT-NHNN stipulates that credit institutions and enterprises engaged in gold trading on foreign accounts must settle and close all accounts before June 30, 2010. Business licenses will become invalid from June 30, 2010.

Scope of application

Credit institutions and enterprises currently engaged in gold trading on foreign accounts.

Key points

Credit institutions and enterprises → must settle and close gold trading accounts abroad before June 30, 2010.
Business licenses → become invalid from June 30, 2010.

🌐 Social impact of this document

Positive impact: Reducing foreign exchange risks and strengthening monetary management.
Negative impact: Enterprises may face difficulties in account conversion, affecting business operations.

❓ Frequently asked questions

What must credit institutions and enterprises do before June 30, 2010?

Credit institutions and enterprises must settle and close gold trading accounts abroad.

Until when will business licenses for gold trading on foreign accounts remain valid?

Business licenses will become invalid from June 30, 2010.

What is the deadline for closing gold trading accounts abroad?

The deadline for closing gold trading accounts abroad is before June 30, 2010.

Will credit institutions and enterprises be penalized if they fail to comply with this regulation?

This circular does not mention sanctions, but violations may lead to other legal consequences.

How will credit institutions and enterprises engaged in gold trading on foreign accounts be affected?

Credit institutions and enterprises must settle and close gold trading accounts abroad before June 30, 2010, which may cause difficulties in account conversion.

Full text

STATE BANK OF VIETNAM

SOCIALIST REPUBLIC OF VIET NAM

Independence – Freedom – Happiness

Number: 10/2010/TT-NHNN

Hanoi, March 26, 2010

CIRCULAR

Amending Clause 2 and Clause 3 of Article 2 of Circular No. 01/2010/TT-NHNN dated January 6, 2010 on the abolition of Decision No. 03/2006/QĐ-NHNN dated January 18, 2006 on gold trading on foreign accounts and Decision No. 11/2007/QĐ-NHNN dated March 15, 2007 amending and supplementing Decision No. 03/2006/QĐ-NHNN

Pursuant to the Law on the State Bank of Vietnam 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;

Pursuant to the Law on Credit Institutions 1997; the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions 2004;

Pursuant to Decree No. 160/2006/NĐ-CP dated December 28, 2006, of the Government detailing the implementation of the Foreign Exchange Decree;

Pursuant to Decree No. 96/2008/NĐ-CP dated August 26, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Implementing the guidance of the Prime Minister at Official Letter No. 315/VPCP-KTTH dated March 25, 2010 of the Government Office;

The State Bank of Vietnam hereby promulgates the following:

Article 1.

Amending Clause 2 and Clause 3 of Article 2 of Circular No. 01/2010/TT-NHNN dated January 6, 2010 on the abolition of Decision No. 03/2006/QĐ-NHNN dated January 18, 2006 of the Governor of the State Bank of Vietnam on gold trading on foreign accounts and Decision No. 11/2007/QĐ-NHNN dated March 15, 2007 of the Governor of the State Bank of Vietnam amending and supplementing Decision No. 03/2006/QĐ-NHNN as follows:
"2. Credit institutions and enterprises currently engaged in gold trading on foreign accounts shall be responsible for closing out and terminating their gold trading accounts abroad before June 30, 2010.
3. Licenses for gold trading on foreign accounts issued by the State Bank of Vietnam to credit institutions and enterprises engaged in gold trading pursuant to Decision No. 03/2006/QĐ-NHNN dated January 18, 2006 on gold trading on foreign accounts and Decision No. 11/2007/QĐ-NHNN dated March 15, 2007 amending and supplementing Decision No. 03/2006/QĐ-NHNN shall cease to be effective from June 30, 2010."

Article 2.

1. This Circular takes effect from March 26, 2010.

2. The Director of the Office, Heads of the Department of Foreign Exchange Management, Heads of units under the State Bank of Vietnam, Governors of the State Bank of Vietnam branches in provinces and centrally governed cities, and credit institutions, enterprises engaged in gold trading on foreign accounts are responsible for implementing this Circular./.

DIRECTOR
DEPUTY DIRECTOR

(Signed)

Nguyen Van Binh

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Relations map

↑ Basis & documents that affect this document

Based on 5

160/2006/NĐ-CP Nghị định số 160/2006/NĐ-CP Quy định chi tiết thi hành Pháp lệnh Ngoại hối Expired 02/1997/QH10 Luật Các tổ chức tín dụng số 02/1997/QH10 Expired 96/2008/NĐ-CP Nghị định số 96/2008/NĐ-CP Quy định chức năng, nhiệm vụ, quyền hạn và cơ cấu tổ chức của Ngân hàng Nhà nước Việt Nam Expired 20/2004/QH11 Luật Sửa đổi, bổ sung một số điều của Luật các Tổ chức tín dụng số 20/2004/QH11 Expired 10/2003/QH11 Luật Sửa đổi, bổ sung một số điều của Luật Ngân hàng Nhà nước Việt Nam số 10/2003/QH11 Expired

Amended by 1

01/2010/TT-NHNN Thông tư số 01/2010/TT-NHNN Bãi bỏ Quyết định số 03/2006/QĐ-NHNN ngày 18/01/2006 về việc kinh doanh vàng trên tài khoản ở nước ngoài và Quyết định số 11/2007/QĐ-NHNN ngày 15/03/2007 về việc sửa đổi, bổ sung Quyết định số 03/2006/QĐ-NHNN In effect

10/2010/TT-NHNN

Circular No. 10/2010/TT-NHNN amends Clause 2 and Clause 3 of Article 2 of Circular No. 01/2010/TT-NHNN dated January 6, 2010 regarding the abolition of Decision No. 03/2006/QD-NHNN dated January 18, 2006 on gold trading on foreign accounts and Decision No. 11/2007/QD-NHNN dated March 15, 2007 on amending and supplementing Decision No. 03/2006/QD-NHNN.

Expired

↓ Documents affected by this document

Replaces 1

17/2010/TT-NHNN Thông tư số 17/2010/TT-NHNN Sửa đổi khoản 2, khoản 3 Điều 2 Thông tư số 01/2010/TT-NHNN ngày 06/01/2010 về việc bãi bỏ Quyết định số 03/2006/QĐ-NHNN ngày 18/01/2006 về việc kinh doanh vàng trên tài khoản ở nước ngoài và Quyết định số 11/2007/QĐ-NHNN ngày 15/3/2007 về việc sửa đổi, bổ sung Quyết định số 03/2006/QĐ-NHNN In effect

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Tiếng Việt Thông tư số 10/2010/TT-NHNN Sửa đổi khoản 2, khoản 3 điều 2 Thông tư số 01/2010/TT-NHNN ngày 06/01/2010 về việc bãi bỏ Quyết định số 03/2006/QĐ-NHNN ngày 18/01/2006 về việc kinh doanh vàng trên tài khoản ở nước ngoài và quyết định số 11/2007/QĐ-NHNN ngày 15/03/2007 về việc sửa đổi, bổ sung Quyết định số 03/2006/QĐ-NHNN 한국어 시행규칙 제 10/2010/TT-NHNN 는 시행규칙 제 01/2010/TT-NHNN 에 있는 조문 제 2 조 제 2 항과 제 3 항을 수정하여 2006년 1월 18일에 제정된 결정 제 03/2006/QĐ-NHNN 에 대한 금융 거래 금지와 2007년 3월 15일에 제정된 결정 제 11/2007/QĐ-NHNN 에 대한 결정 제 03/2006/QĐ-NHNN 의 수정 및 보충에 관한 결정을 폐기함 中文通知2010年第10号令修改了2010年1月6日发布的第1号通知的第二款和第三款，关于废除2006年1月18日发布的第3号决定和2007年3月15日发布的第11号决定。