Decree No. 141/2006/NĐ-CP on issuing the List of minimum charter capital requirements for credit institutions

DECREE

On issuing the List of minimum charter capital requirements for credit institutions

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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 dated December 12, 1997, and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam dated June 17, 2003;

Pursuant to the Law on Credit Institutions dated December 12, 1997, and the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated June 15, 2004;

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

DECREE

Article 1. Minimum Charter Capital Requirements

The List of minimum charter capital requirements for credit institutions established and operating in Vietnam is hereby promulgated together with this Decree.

Article 2. Implementation

2. Credit institutions granted licenses for establishment and operation after the date this Decree takes effect and before December 31, 2008, must immediately ensure that their subscribed and paid-in registered capital or equivalent capital is not less than the minimum charter capital requirement specified for the year 2008 in the List issued together herewith.

3. Credit institutions granted licenses for establishment and operation after December 31, 2008, must immediately ensure that their subscribed and paid-in registered capital or equivalent capital is not less than the minimum charter capital requirement specified for the year 2010 in the List issued together herewith.

The Governor of the State Bank shall decide on measures, including revocation of the license for establishment and operation, against credit institutions whose subscribed and paid-in registered capital or equivalent capital is lower than the minimum charter capital requirement corresponding to each type of credit institution specified for each period in the List issued together herewith.

Article 4. Effective date

This Decree shall take effect 15 days from the date of publication in the Official Gazette and shall replace Decree No. 82/1998/NĐ-CP dated October 3, 1998 of the Government on issuing the List of minimum charter capital requirements for credit institutions.

Article 5. Responsibilities for Implementation

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