Decision No. 172/1999/QĐ-TTg permits credit institutions to establish affiliated securities companies and participate in stock listing, while entrusting the State Bank of Vietnam and the Ministry of Finance with the responsibility to stipulate and provide necessary conditions.
Đối tượng áp dụng
Credit institutions, the State Bank of Vietnam, the Ministry of Finance, the Securities Commission, Chairmen of the Boards of Directors of credit institutions, and Holding Companies.
Các điểm cốt lõi
- Credit institutions → are permitted to establish affiliated securities companies with independent legal status and separate accounting; the Chairman of the Board of Directors of the credit institution decides after obtaining approval from the State Bank of Vietnam.
- The State Bank of Vietnam → will stipulate the transfer of shares of joint-stock commercial banks to facilitate their participation in stock listing at the Securities Trading Center.
- The Ministry of Finance → will study and guide financial mechanisms and provide financial support for securities companies affiliated with credit institutions during the first three years of operation.
🌐 Tác động xã hội từ văn bản này
- Creating favorable conditions for the establishment and development of affiliated securities companies of credit institutions, contributing to diversifying business forms in the financial-banking sector.
- Helping to enhance the competitiveness of the securities market through the participation of joint-stock commercial banks in stock listing.
❓ Câu hỏi thường gặp
How do credit institutions establish affiliated securities companies?
The Chairman of the Board of Directors of the credit institution decides after obtaining approval from the State Bank of Vietnam.
What regulations will the State Bank of Vietnam stipulate regarding the transfer of shares of joint-stock commercial banks?
The State Bank of Vietnam will stipulate relevant regulations to create conditions for banks meeting the criteria to participate in stock listing at the Securities Trading Center.
How will the Ministry of Finance financially support securities companies affiliated with credit institutions?
The Ministry of Finance will study and guide financial mechanisms and provide financial support for securities companies affiliated with credit institutions during the first three years of operation.
When does this decision take effect?
This decision takes effect from the date of signing.
Whose approval do credit institutions need to establish affiliated securities companies?
Approval from the State Bank of Vietnam is required.
Toàn văn
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PRIME MINISTER |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 172/1999/QĐ-TTg |
Hanoi, August 19, 1999 |
DECISION
Regarding the establishment of securities companies by credit organizations and their participation in stock listing
securities and participating in the listing of securities
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
Pursuant to the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;
Pursuant to the Decree No. 48/1998/NĐ-CP dated July 11, 1998 of the Government on Securities and the Securities Market;
Considering the proposal of the State Securities Commission (document No. 92/UBCK3 dated July 17, 1999), and the opinion of the State Bank of Vietnam (document No. 724/CV-NHNN5 dated August 6, 1999),
DECISION:
Article 1. Permitting credit organizations to establish affiliated securities companies with independent legal personality and separate accounting; the Chairman of the Board of Directors of the credit organization shall decide to establish the securities company after obtaining approval from the State Bank of Vietnam.
Article 2. Entrusting the State Bank of Vietnam to stipulate the transfer of shares of joint-stock commercial banks and related regulations to create conditions for banks meeting the criteria to participate in stock listing at the Stock Exchange Center.
Article 3. Entrusting the Ministry of Finance to study and guide financial mechanisms and financial support for securities companies under credit organizations and those under holding companies during the first three years of operation.
Article 4. This Decision shall take effect from the date of signing.
Article 5. The Minister of Finance, Governor of the State Bank, Chairman of the State Securities Commission, and Chairmen of the Boards of Directors of credit organizations and holding companies are responsible for implementing this Decision.
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DEPUTY PRIME MINISTER DEPUTY PRIME MINISTER (Signed) Nguyen Tan Dung |
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