Decision No. 1506/2001/QD-NHNN Issuing the Regulation on Managing Sample Money, Commemorative Money, and Money Ceased from Circulation

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Regarding the issuance of the Regulation on the Management of Sample Money, Commemorative Money, and Money Ceased from Circulation

GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997

- Pursuant to the Decree No. 15/CP dated March 2, 1993 of the Government stipulating the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;

- Pursuant to the Decree No. 81/1998/NĐ-CP dated October 1, 1998 of the Government on printing, minting, storing, transporting, and destroying paper money and metal coins; storing and transporting precious assets and securities within the banking system;

- Based on the proposal of the Director of the Business Operations and Treasury Department,

DECISION:

Article 1 The attached Decision promulgates the "Regulation on the Management of Sample Money, Commemorative Money, and Money Ceased from Circulation."

Article 2 This Decision takes effect fifteen days from the date of signature and replaces Decision No. 179/1999/QĐ-NHNN6 dated May 22, 1999 of the Governor of the State Bank of Vietnam on the issuance of the Regulation on the Management of Sample Money and Commemorative Money.

Article 3 The Heads of the Office, Directors of the Business Operations and Treasury Department, Directors of the Accounting and Finance Department, Directors of the General Audit Department, Governors of the State Bank Branches, Heads of relevant units under the State Bank, Governors of the State Bank Branches in provinces and centrally-administered cities; General Directors (Directors) of credit organizations; General Directors of the National Treasury are responsible for implementing this Decision.

REGULATION ON THE MANAGEMENT OF SAMPLE MONEY, COMMEMORATIVE MONEY, AND MONEY CEASED FROM CIRCULATION

(Issued together with Decision No. 1506/2001/QĐ-NHNN dated November 30, 2001 of the Governor of the State Bank of Vietnam)

This Regulation specifies the procedures for printing, minting, using sample money and commemorative money; the storage, transportation, delivery, sale of sample money, commemorative money, and money ceased from circulation by the State Bank of Vietnam.

PART I. GENERAL PROVISIONS

Article 1

The State Bank of Vietnam, credit organizations, and the National Treasury shall record off-balance-sheet sample money and commemorative money, detailing denomination, type, quantity, and serial number of each sample note, and periodically inventory and report according to the regulations of the State Bank of Vietnam.

Article 2

Chapter II. SAMPLE MONEY

Sample money in this Regulation refers to paper money and metal coins:

Article 3

1. Having all technical quality standards as other types of money announced for circulation by the State Bank of Vietnam;

2. Sample paper money is printed with the word

"SAMPLE MONEY" or the word "SPECIMEN" . In addition to two representative serial number rows (in positions corresponding to those on regular banknotes), consisting of two letters and the digits "0", an additional serial number row is printed on the front of the sample money for management purposes.Sample money serves as a standard in money issuance operations and does not have value as a means of payment in circulation. Additionally, it can be used as a reference object or for research, museum display, introduction, collection, and commemoration purposes.

1. The Governor of the State Bank of Vietnam decides on the quantity and types of sample money to be printed or minted based on the proposal of the Director of the Business Operations and Treasury Department.

Article 4

2. The printing and minting of sample money are carried out according to the regulations applicable to regular money.

1. Based on the purpose, need for use, and quantity of sample money printed or minted, the Director of the Business Operations and Treasury Department issues sample money to the following entities:

Article 5

a. Functional departments under the Business Operations and Treasury Department;

b. State Bank Branches in provinces and centrally-administered cities; State Bank Trading Departments; Representative Offices of the State Bank;

c. Central State Commercial Banks, Central National Treasuries, Central People's Credit Funds.

d. Units under Ministries and Sectors involved in combating counterfeit money.

2. Within the quantity of sample money issued by the State Bank of Vietnam, the Directors of State Bank Branches and State Bank Trading Departments are responsible for balancing the needs for use at their units and issuing sample money to entities maintaining primary transaction accounts with their units, including credit organizations, trading departments of credit organizations, branches of credit organizations, and National Treasuries within their jurisdictions; the Directors of State Bank Branches also issue sample money to related units at the same level for the protection of Vietnamese currency.

3. The Director of the Business Operations and Treasury Department reviews and submits to the Governor of the State Bank of Vietnam for approval the issuance of sample money to foreign banks with relations and exchanges of sample money with the State Bank of Vietnam and other entities.

1. The storage, delivery, and transportation of sample money between central treasuries, State Bank Branches, State Bank Trading Departments, credit organizations, and National Treasuries are carried out according to the regulations of the State Bank of Vietnam applicable to regular money.

Article 6

2. Entities receiving sample money under Clause 1 and Clause 2, Article 5 of this Regulation must compensate for material losses if they lose sample money, in addition to disciplinary and administrative penalties. The amount of compensation equals the face value of the lost sample money. Subsequently, the State Bank may reissue sample money to the using entity.

3. Damaged or torn sample money received by entities under Clause 1 and Clause 2, Article 5 of this Regulation will be exchanged by the State Bank that originally issued the sample money. The exchange is conducted at par value, of the same type, and without fees.

The State Bank of Vietnam may recall part or all of the sample money issued under Article 5 of this Regulation in the following cases:

, Clause 1, Clause 2 Article 7a of this Regulation.

1. When the State Bank of Vietnam announces the cessation of circulation of one or more types of money, within thirty days from the announcement date, credit organizations, branches of credit organizations, trading departments of credit organizations, and National Treasuries at all levels must return all sample money of the discontinued types to the State Bank that issued the sample money. State Bank Branches and State Bank Trading Departments may retain one set of sample money for local use, and the remainder should be returned to central treasuries.

2. Other entities receiving sample money must return them upon written request from the State Bank of Vietnam.

2. Other subjects shall be issued sample money for submission upon a written request from the State Bank of Vietnam.

Article 8

The General Director (Director) of credit organizations, State Treasury, and other financial and monetary institutions licensed by the State Bank shall be responsible for managing, safely storing, and using specimen money for its intended purpose; periodically inventorying, reporting, and submitting specimen money according to the regulations of the State Bank and being subject to the State Bank's management, inspection, and handling regarding specimen money.

CHAPTER III. COMMEMORATIVE COINS

Article 9

Commemorative coins are symbolic currency without value as a means of payment in circulation, issued by the State Bank of Vietnam for purposes of collection, commemoration, or other purposes as prescribed by the Government.

Article 10

1. The State Bank of Vietnam organizes the production and sale of commemorative coins or cooperates with domestic and foreign partners to produce and sell commemorative coins. Partners of the State Bank of Vietnam must be organizations operating in printing, minting, trading precious metals, trading commemorative coins, or souvenir industries.

2. The cooperation in producing and selling commemorative coins between the State Bank of Vietnam and domestic and foreign partners shall be carried out based on contracts on an equal and mutually beneficial basis.

Article 11

1. The Governor of the State Bank decides on the design samples, materials, quantity of commemorative coins to be printed or minted, and the domestic and foreign partners producing and selling commemorative coins of the State Bank of Vietnam based on the proposal of the Head of the Issuance and Treasury Operations Department.

2. Based on the approval of the Governor of the State Bank, the Head of the Issuance and Treasury Operations Department signs contracts for the production and sale of domestic and foreign commemorative coins with selected partners after receiving legal opinions from the Legal Affairs Department on the draft contracts; in cases of signing with foreign partners, opinions from the International Relations Department on the consistency between the Vietnamese version and the foreign language version must also be obtained.

3. Responsibilities of the Issuance and Treasury Operations Department:

a. Researching and exploiting themes for domestic and international commemorative coins; developing and implementing programs and projects for the production and sale of commemorative coins of the State Bank of Vietnam;

b. Serving as the central point of the State Bank of Vietnam in the field of commemorative coins; contacting, understanding, and evaluating domestic and foreign partners producing and selling commemorative coins;

c. Distributing commemorative coins to recipients as stipulated in Article 13 of this Regulation.

Article 12

The handover, transportation, and storage of commemorative coins of the State Bank shall be carried out according to the regulations applicable to the storage, transportation, and handover of money.

Article 13

The Governor of the State Bank approves the issuance or gift of commemorative coins based on the reports of Departments, Bureaus, and subordinate units of the State Bank of Vietnam for the following recipients:

1. Delegations of State Bank staff traveling abroad;

2. International delegations visiting and working with the State Bank of Vietnam; domestic agencies and organizations related to the State Bank; organizations and individuals both domestically and internationally who have made significant contributions to the banking industry;

3. Other recipients.

CHAPTER IV. DISCONTINUED CIRCULATING MONEY

Article 14

Discontinued circulating money includes money issued by the State Bank of Vietnam that no longer has value as a means of payment in circulation, financial money, promissory note money, money of the former Republic of Vietnam (Saigon regime), and various types of money from different periods currently stored in the State Bank's vaults.

Article 15

1. The storage, handover, and transportation of discontinued circulating money between Central Vaults, Branches, and Trading Departments of the State Bank, credit organizations, and State Treasury shall be carried out according to the regulations of the State Bank as applicable to the storage, handover, and transportation of money.

2. The accounting of discontinued circulating money shall be conducted according to the current regulations of the Governor of the State Bank.

CHAPTER V. PROVISIONS ON THE SALE OF COIN SAMPLES, COMMEMORATIVE COINS, AND CIRCULATING COINS WITHDRAWN FROM CIRCULATION

CIRCULATED CURRENCY, SUSPENDED CIRCULATING CURRENCY

Article 16

Subjects with needs for coin samples, commemorative coins, and circulating coins withdrawn from circulation may purchase them at branches of the State Bank of Vietnam, State Bank of Vietnam trading offices, or organizations authorized by the State Bank of Vietnam.

Article 17

1. In each period, the Governor of the State Bank of Vietnam decides on the method and price for selling coin samples, commemorative coins, and circulating coins withdrawn from circulation based on the proposal of the Head of the Issuance and Treasury Department.

2. The Head of the Issuance and Treasury Department examines and decides on the quantity of coin samples, commemorative coins, and circulating coins withdrawn from circulation to be sold to subjects with needs; informs and guides procedures and organizes the sale of coin samples, commemorative coins, and circulating coins withdrawn from circulation to customers.

Article 18

Revenue and expenditure related to the production and sale of coin samples, commemorative coins, and circulating coins withdrawn from circulation are recorded in the operational revenue and expenditure of the State Bank of Vietnam.

CHAPTER VI. IMPLEMENTATION PROVISIONS

Article 19

The Head of the Issuance and Treasury Department is responsible for guiding and supervising the implementation of this Regulation within the State Bank of Vietnam system, credit organizations, and National Treasury.

Article 20

Organizations and individuals violating the provisions of this Regulation shall be subject to disciplinary action, administrative violation handling, or criminal responsibility追究根据本规定的性质和程度，将受到纪律处分、行政违法处理或刑事责任追究。

Article 21

Amendments and supplements to the provisions of this Regulation shall be decided by the Governor of the State Bank of Vietnam.