Decision No. 1232/2004/QD-NHNN on abolishing provisions regarding receiving deposits and lending applicable to the system of People's Credit Funds during the pilot phase.

Pursuant to …;

Regarding the abolition of provisions on receiving deposits and lending applicable to the people's credit fund system during the pilot phase

applicable to the system of people's credit unions during the trial period

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997 and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003;

Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated December 12, 1997 and the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions No. 20/2004/QH11 dated June 15, 2004;

Pursuant to the Government Decree No. 86/2002/NĐ-CP dated November 5, 2002 on the functions, tasks, powers, and organizational structure of Ministries and Ministerial-Level Agencies;
Pursuant to Decree No. 52/2003/NĐ-CP dated September 15, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 48/2001/NĐ-CP dated August 13, 2001 of the Government on the organization and operation of People's Credit Funds;

At the proposal of the Director of the Department of Cooperative Credit Institutions,

Pursuant to …;

Article 1. Abolish Decision No. 24/QĐ-NH17 dated February 22, 1994 of the Governor of the State Bank of Vietnam promulgating the Regulation on capital mobilization, utilization, and interest rates applicable to pilot people's credit funds, Decision No. 343/QĐ-NH17 dated December 4, 1995 of the Governor of the State Bank of Vietnam on supplementing and amending certain points regarding capital management in the people's credit fund system, and Decision No. 349/QĐ-NH17 dated December 11, 1995 of the Governor of the State Bank of Vietnam promulgating the Provision on credit regulations applicable within the people's credit fund system.

Article 2. The Central People's Credit Fund shall implement the opening and use of deposit accounts and lending to grassroots people's credit funds in accordance with the Regulation on Opening and Using Deposit Accounts at the State Bank of Vietnam and Credit Institutions issued together with Decision No. 1284/2002/QĐ-NHNN dated November 21, 2002 and the Regulation on Inter-Credit Institution Borrowing issued together with Decision No. 1310/2001/QĐ-NHNN dated October 15, 2001 of the Governor of the State Bank of Vietnam.

Article 3. This Decision shall take effect fifteen days from the date of publication in the Official Gazette.

Article 4. The Head of the Office, the Director of the Department of Cooperative Credit Institutions, Heads of relevant units under the State Bank of Vietnam, Governors of the State Bank of Vietnam Branches in provinces and centrally-administered cities, Chairmen of the Management Councils of the Central People's Credit Fund and grassroots people's credit funds are responsible for implementing this Decision.