Decision No. 135/2001/QD-BTC On the issuance of investment bonds by the Development Support Fund

Pursuant to …;

Regarding the issuance of investment bonds by the development support fund

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THE MINISTER OF FINANCE

Pursuant to Decree No. 178/ND-CP dated October 28, 1994 of the Government stipulating the tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decree No. 01/2000/NĐ-CP dated January 13, 2000 of the Government on the issuance regulations for government bonds;

Pursuant to Decision No. 231/1999/QD-TTg dated December 17, 1999 of the Prime Minister on the charter of organization and operation of the Development Support Fund;

Considering the proposal of the Director of the Department of Financial Institutions and financial organizations;

DECISION:

Article 1. The Development Support Fund is authorized to issue investment bonds to raise capital according to the annual state credit investment plan.

Article 2. The issuance of investment bonds by the Development Support Fund shall be carried out in accordance with the following principles:

1. The minimum term of investment bonds is five years.

2. Issuance method: auction or underwriting and listing on the securities market.

3. Investment bonds shall be centrally deposited at depositary organizations.

4. The interest rate for issuance shall be within the range of interest rates for raising funds decided by the Minister of Finance.

5. Form of investment bonds: certificate or book-entry record.

6. The minimum face value is 100,000 Vietnamese dong, other denominations being multiples of 100,000 Vietnamese dong.

7. The bidding process and underwriting of investment bonds shall be conducted in accordance with current regulations governing government bond auctions and underwriting.

Article 3. The General Director of the Development Support Fund decides on the issuance method, form of bonds, issuance amount, face value, term, interest rate, and payment rules for principal and interest of each issuance period.

Article 4. Responsibilities of the Ministry of Finance:

1. Incorporate the annual investment bond issuance plan into the overall plans for fundraising, lending, and general subsidies of the Development Support Fund.

2. Determine the interest rate framework for the Development Support Fund to conduct auctions and underwrite investment bonds in line with prevailing market interest rates.

3. Monitor the issuance and payment of investment bonds by the Development Support Fund.

4. Implement interest rate subsidies for the Development Support Fund in accordance with current regulations.

Article 5. The Development Support Fund is responsible for:

1. Preparing annual and quarterly plans, and detailed schemes for each issuance period, in line with actual capital needs, and reporting to the Ministry of Finance and the State Securities Commission.

2. Reporting to the Ministry of Finance the results of each issuance period and quarterly and annually.

3. Organizing the issuance and payment of investment bonds in accordance with current regulations and the provisions of this decision.

4. Organizing the printing of investment bond certificates according to the model prescribed by the Ministry of Finance and assuming responsibility for managing unissued investment bond certificates in accordance with current regulations on the management of valuable certificates.

5. Being responsible for paying the principal and interest of issued investment bonds upon maturity and related costs associated with organizing the issuance and payment.

6. Being subject to inspection and supervision by the Ministry of Finance regarding matters related to the issuance and payment of investment bonds; and by the State Securities Commission regarding procedures for issuing and listing investment bonds on the securities market.

Article 6. This Decision takes effect fifteen days after the date of signature.

Article 7. The General Director of the Development Support Fund, the Director of the Department of Financial Institutions, financial organizations, the General Director of the State Treasury, and the Director of the Department of State Budget are responsible for implementing this Decision.