Decree No. 10/2011/NĐ-CP on amending and supplementing certain articles of Decree No. 141/2006/NĐ-CP dated November 22, 2006, on the issuance of the list of minimum capital requirements for credit institutions.

DECREE

Amending and supplementing certain Articles of Decree No. 141/2006/NĐ-CP dated November 22, 2006 on issuing the List of minimum capital requirements for credit institutions vốn pháp định của các tổ chức tín dụng

THE GOVERNMENT

Pursuant to the Law on Organization of the Government dated December 25, 2001;

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

Pursuant to the Law on Credit Organizations No. 47/2010/QH12 dated June 16, 2010;

Considering the proposal of the Governor of the State Bank of Vietnam,

DECREE:

Article 1. Amend and supplement certain provisions of Decree No. 141/2006/NĐ-CP dated November 22, 2006 of the Government on issuing the List of minimum capital requirements for credit institutions as follows:

"1. The purpose of the national high school examination is to use the examination results for recognizing high school graduation; provide information to evaluate the quality of secondary education; provide data as a basis for university and vocational education admissions."

"1. Credit institutions that have been granted licenses to operate must ensure that their subscribed and paid-in registered capital or equivalent minimum capital requirement as stipulated in the List attached shall be met at the latest by December 31, 2011."

2. Article 3 shall be amended and supplemented as follows:

Powers of the State Bank of Vietnam:

1. During the period when credit institutions have not met the minimum capital requirement as provided for in Clause 1 of Article 1 of this Decree, the State Bank of Vietnam will not consider applications for expanding the network of operations (branches, representative offices, affiliated units, other types of presence as prescribed by law) and for expanding the scope of activities of credit institutions.

2. After December 31, 2011, the State Bank of Vietnam will examine and decide on handling according to the provisions of law for credit institutions that fail to meet the minimum capital requirement as provided for in Clause 1 of Article 1 of this Decree.

Article 2. Effective Date

This Decree takes effect from March 15, 2011.

Article 3. Responsibility for Implementation

The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of provincial People's Committees, municipal People's Committees directly under the central government are responsible for implementing this Decision./.