Decision No. 11/2004/QD-BNV on approving the Charter of the Vietnam Association of Financial Investors

Pursuant to …;

REGARDING THE APPROVAL OF THE STATUTES OF THE VIETNAM ASSOCIATION OF FINANCIAL INVESTORS

THE MINISTER OF THE MINISTRY OF HOME AFFAIRS

Pursuant to Decree No. 102/SL-L004 dated May 20, 1957 on the right to establish associations;
Pursuant to the Government's Decree No. 45/2003/NĐ-CP dated May 9, 2003 on the functions, tasks, powers, and organizational structure of the Ministry of Home Affairs;
Pursuant to the Government's Decree No. 88/2003/NĐ-CP dated July 30, 2003 on the organization, operation, and management of associations;
Considering the proposal of the Chairman of the Vietnam Association of Financial Investors and the Director of the Department of Non-Governmental Organizations;

DECISION:

Article 1: Approves the Statutes of the Vietnam Association of Financial Investors adopted at the First Term General Assembly on January 4, 2004.

Article 2: The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

Article 3: The Chairman of the Vietnam Association of Financial Investors and the Director of the Department of Non-Governmental Organizations shall be responsible for implementing this Decision.

CHARTER

VIETNAM ASSOCIATION OF FINANCIAL INVESTORS

PART I

GENERAL PROVISIONS

Article 1. Name

The Association is named: Vietnam Association of Financial Investors (hereinafter referred to as the Association). English name: "VIETNAM ASSOCIATION OF FINANCIAL INVESTORS". Abbreviation: VAFI

Article 2. Purpose and Objectives

The Association is a voluntary organization of organizations and individuals engaged in financial investment activities. It is a non-profit social-professional organization representing Vietnamese financial investors; it gathers, unites, cooperates, assists, and protects the legitimate rights and interests of its members, and serves as a platform for information exchange and provision of services to members on an equal basis, contributing to the development of the Vietnamese financial market.

Article 3. Scope of Activities

The Association operates nationwide, has legal personality, has its own emblem, seal, financial autonomy, and is allowed to open bank accounts at state banks and treasuries.

The main office of the Association is located in Hanoi, with a representative office in Ho Chi Minh City according to the provisions of the law. Depending on operational needs, the Association may request permission to establish additional representative offices in certain domestic locations according to the provisions of the law.

Article 4. Principles of Operation

1. Voluntary and self-management;

2. Financial self-sufficiency;

3. Equality among all members;

4. The Association operates under the laws of the Socialist Republic of Vietnam, in accordance with the regulations of the State on the operation of Associations and the provisions of these Statutes;

5. The operations of the Association are subject to the management of the Ministry of Finance in the field of financial investment.

Chapter II

TASKS AND RIGHTS OF THE ASSOCIATION

Article 5. Tasks of the Association

1. Participate in providing opinions and recommendations to state management agencies regarding policies related to the development of the financial market; financial institutions contributing to the development of the Vietnamese financial market.

2. Support members through various forms:

a) Propaganda about the Party's and State's policies on the financial market and investment promotion;

b) Collecting and providing information about the situation of the Vietnamese financial market;

c) Organizing training and investment advisory services;

d) Supporting and organizing forums to call for investment from domestic and foreign investors and overseas Vietnamese people in accordance with the provisions of the law.

3. Representing financial investors in building and developing cooperative relations with other Associations and unions to establish relationships between financial investors and strategic investors to contribute to the development of the financial market and investment environment in Vietnam.

4. Protect the legitimate rights and interests of members.

5. Implement international cooperation activities in accordance with the law.

6. Promote and publicize the activities of the Association, disseminate information. Establish the Association's media organs such as establishing an electronic news site, publishing magazines and specialized newspapers in accordance with the provisions of the law.

7. Carry out service activities to ensure the regular operation of the Association in accordance with the law and the Statutes of the Association.

Article 6. Rights of the Association

1. Propagate the purpose, objectives, and activities of the Association and mobilize to build and develop the Association.

2. Represent members in internal and external relations related to the functions and tasks of the Association.

3. Protect the rights and legitimate interests of the Association and its members.

4. Organize and coordinate activities among members for the common benefit of the Association; mediate disputes within the Association.

5. Provide advice and comments on issues within the scope of the Association's activities upon request from organizations and individuals.

6. Coordinate with relevant agencies and organizations to implement the Association's tasks.

7. Disseminate and train knowledge for members; provide necessary information to members in accordance with the law.

8. Participate in opinions on normative legal documents related to the Association's activities in accordance with the law. Make recommendations to competent state agencies regarding issues related to the development of the Association and the fields in which the Association operates.

9. Be financially autonomous based on membership fees and lawful sources of income to cover operating expenses.

10. Be entitled to accept lawful financial support from domestic and foreign organizations and individuals in accordance with the law.

11. Establish and dissolve subordinate organizations in accordance with the law.

12. Exercise other rights permitted by law.

Chapter III

MEMBERS

Article 7. Regular members

Are organizations and individuals as follows:

a) Vietnamese organizations with the function of financial investment;

b) Individuals who are Vietnamese citizens participating in financial investment;

c) Organizations and individuals related to the Association's field of activity wishing to contribute to the development of the Association.

Regular members have the right to nominate and vote on issues of the Association. Pay admission fees and annual membership dues.

The acceptance of regular members is based on the regulations of the Executive Board and must be approved by at least two-thirds of the Executive Board members. All initial members who registered to join the Association before the establishment General Assembly are automatically considered regular members.

Article 8. Associated members

Joint ventures and wholly foreign-owned enterprises operating in Vietnam (hereinafter collectively referred to as foreign-invested enterprises) that contribute to the development of the Association and agree with the Association's Statutes may be recognized as associate members by the Association. Associate members can participate in the Association's activities and attend the General Assembly. Associate members do not participate in the election and nomination of the Association's leadership, nor do they vote on Association issues. The decision to accept associate members is based on the regulations of the Executive Board.

Article 9. Honorary members

Vietnamese citizens and organizations that do not have the conditions to become formal or associated members of the Association but have made significant contributions to the Association's activities may be honored as honorary members by the General Assembly of all members, or the Representative Assembly, or the Executive Board of the Association.

Article 10. Registration for Membership

Organizations and individuals meeting the required conditions and wishing to join the Association must submit an application (in accordance with the prescribed form) to complete the necessary procedures. They officially become members after receiving a decision from the President of the Association, paying membership fees, and obtaining a membership card of the Vietnam Financial Investors Association.

Article 11. Termination of Member Status

The status of member of the Association ceases if any of the following situations occur:

1. The legal entity organization stops operating, is suspended, dissolved, or declared bankrupt;

2. The individual member no longer wishes to continue as a member, is no longer capable due to health reasons, or has passed away;

3. Violation of laws or the Charter of the Association resulting in expulsion from the Association according to a decision of the Executive Board.

Article 12. Obligations of members

1. Adhere to current laws, comply with the Charter of the Association and resolutions of the General Assembly and the Executive Board of the Association;

2. Unite and cooperate with other members to jointly contribute to building a stronger Association;

3. Pay the joining fee and annual membership dues fully and on time as stipulated by the Executive Board.

Article 13. Rights of Members

1. Be protected by the Association in their legitimate rights and interests during financial investment activities;

2. Receive investment information and career development services from the Association, assistance in mediation when disputes arise, and participate in various forms of collaboration organized by the Association;

3. For regular members, be eligible to run for, nominate, and vote for leadership positions within the Association;

4. Participate in discussions and voting on resolutions of the Association, criticize and question the Executive Board regarding all policies and activities of the Association;

5. Have the right to leave the Association if they consider it impossible or undesirable to continue as a member. In this case, the member must report in writing to the Executive Board;

6. In cases of absence, they can submit their opinions in writing on issues related to financial investments, the financial market of Vietnam, and matters included in the agenda of regular meetings of the Association;

7. Participate in projects and working groups of the Association according to internal principles established by the Association regarding the procedures for participating in projects and working groups.

Chapter IV

ORGANIZATION OF THE ASSOCIATION

Article 14. Organization of the Association

1. The organization of the Association includes:

- The General Assembly or the Representative Assembly;

- The Executive Board of the Association;

- The Standing Board of the Association;

- Inspection Board;

- The Association Office;

- Various Committees of the Association;

- Subordinate organizations of the Association.

2. In economic sectors, there are Branches of financial investors decided by the Central Executive Board of the Association to establish.

3. Where conditions do not allow for the establishment of an Association, Investment Finance Clubs may be formed.

Article 15. The General Assembly of All Members or the Representative Assembly

1. It is the highest governing body of the Association.

2. Regular Assemblies are convened every five years by the Executive Board with the following agenda items:

a) Approving the report on the Association's activities during the previous term and the program for the upcoming term;

b) Approving the financial report of the Association;

c) Deciding to amend or supplement the Charter of the Association (if necessary);

d) Discussing and deciding on important issues of the Association;

e) Electing the Executive Board and the Inspection Board of the Association;

f) Approving the Resolution of the Assembly.

3. Extraordinary Assemblies are convened when at least two-thirds of the total number of Executive Board members or at least half of the total number of regular members request, or upon the request of the competent state authority.

4. Sessions of the Assembly are chaired by the President of the Association. In the absence of the President, the session will be chaired by a Vice President (or Secretary-General), authorized by the President.

5. When convening an Assembly, the Executive Board must announce the agenda of the Assembly and send invitations to members at least twenty days before the scheduled date.

6. Each regular member has one vote at the Assembly. Resolutions of the Assembly are taken by majority vote.

7. The following special important issues require approval by two-thirds of the regular members present:

a) Amending or supplementing the Charter;

b) Electing a new Executive Board;

c) Dissolving the Association. This resolution must also be approved by the competent authority after settling debts and liquidating the assets of the Association.

Article 16. The Executive Board of the Association

1. The Executive Board is the administrative leadership body of all activities of the Association during the period between two conventions.

2. The number of members of the Executive Board is determined by the Assembly. The Executive Board is directly elected by the General Assembly or the Representative Assembly of members through raising hands or secret ballot. The candidate must receive more than 50% of valid votes.

3. During its operation, due to various reasons, the number of Executive Board members may not meet the requirements set by the Assembly. In such cases, the Executive Board can elect additional members (from among the regular members of the Association) to fill vacancies, but not exceeding the number specified by the Assembly. If the Association expands its activities, the Executive Board can elect additional members recommended by the Standing Board, with the number of new members not exceeding 25% of the number specified by the Assembly.

4. The duties of the Executive Board include:

a) Implementing the resolutions of the Assembly and proposing measures to implement these resolutions;

b) Approving annual financial budgets and final accounts;

c) Determining the annual membership fees for members;

d) Deciding on the specific structure, organization, staffing, and subordinate organizations of the Association;

đ) Supervising the work of subordinate organizations;

e) Preparing other content for regular and extraordinary Assemblies of the Association;

f) Considering rewards, disciplinary actions, and expulsions of members;

g) Issuing regulations on the operation of the Executive Board.

5. The Executive Board meets at least once a year to review the Association's operational situation and evaluate its work. The Executive Board can convene emergency meetings when necessary. Decisions of the Executive Board are taken by majority vote of the members present. In case of a tie, the decision belongs to the opinion of the President of the Association.

Article 17. President and Vice Presidents

The President of the Association is the highest representative before the law of the Association in domestic and international relations, and is responsible to the Executive Board for directing and managing all activities of the Executive Board. The President of the Association is elected by the Executive Board with a majority vote.

The Vice Presidents of the Association are elected by the Executive Board and assist the President of the Association in overseeing and directing activities in the assigned fields of work.

The duties and powers of the President and Vice Presidents of the Association are carried out according to the regulations of the Executive Board of the Association.

Article 18. The Standing Committee of the Association

The Standing Committee of the Association consists of the President, Vice Presidents, General Secretary, and Standing Committee members. The number of Standing Committee members does not exceed one-third of the number of Executive Board members. Standing Committee members are elected by the Executive Board.

The Standing Committee represents the Executive Board in managing and resolving matters between two sessions of the Executive Board and operates according to the regulations of the Executive Board of the Association.

The permanent body of the Standing Committee includes the President, Vice Presidents, and General Secretary.

Article 19. The General Secretary

The General Secretary is elected by the Executive Board. The Executive Board specifies the duties, powers, and responsibilities of the General Secretary.

Article 20. Inspection Board

The Inspection Board consists of three members elected from among the official members of the Association by the Executive Board. The Chairman must be an Executive Board member and is appointed by the Executive Board.

The Inspection Board has the duty to report to the Executive Board and to the Congress on the activities of the Executive Board and the financial situation of the Association each year and during each term.

When necessary, the Inspection Board may inform the situation and request the Executive Board to resolve issues discovered according to their assigned tasks.

Chapter V

FINANCIAL MATTERS OF THE ASSOCIATION

Article 21. Revenue of the Association

1. Membership fees and annual dues from members;

2. Legal revenues of the Association and its affiliated organizations according to the Association's financial regulations;

3. Voluntary contributions and sponsorships from individuals and organizations both domestically and internationally;

4. Financial support from the state budget;

5. Other income.

Article 22. Expenditures of the Association

1. Expenses to maintain the operations of the Association;

2. Other expenses.

Article 23. Financial Management of the Association

The finances of the Association are managed according to the Financial Management Regulations of the Association and comply with the state's financial and accounting systems.

Chapter VI

REWARD AND VIOLATION HANDLING

Article 24. Awards

Members, local association organizations, affiliated units, and individuals who have outstanding achievements in the activities of the Association are annually awarded by the President of the Association or recommended for awards by relevant state agencies and organizations according to the provisions of the law.

Article 25. Handling Violations

Members who violate laws, the Charter, Resolutions of the Association, and damage the reputation of the Association will be subject to disciplinary measures ranging from reprimand to expulsion from the Association depending on the severity of the violation.

Chapter VII

IMPLEMENTING PROVISIONS

Article 26. Effectiveness

This Charter comprises seven Chapters and twenty-seven Articles, which were adopted by the Founding Congress of the Association on January 4, 2004, and became effective upon the entry into force of the Decision of the Minister of Home Affairs approving this Charter.

Article 27. Implementation

The Association, its affiliated units, and all members must comply with this Charter. Only the General Congress or the Representative Congress of Members has the right to amend or supplement this Charter. The Executive Board of the Association is responsible for guiding the implementation of this Charter.

The Executive Board of the Association is responsible for guiding the implementation of this Charter./.