Decision No. 179/1999/QD-NHNN6 Issuing the Regulation on the Management of Sample Coins and Commemorative Coins

Pursuant to …; OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Regarding the issuance of the regulation on managing specimen money and commemorative money

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;
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 valuable assets and securities within the banking system;
Based on the proposal of the Director of the Issuance and Treasury Department,

Pursuant to …;

Article 1. This Decision promulgates the "Regulation on Managing Specimen Money and Commemorative Money".

Article 2. This Decision shall take effect 15 days from the date of signature and shall replace Decision No. 83/QĐ-NH6 dated April 23, 1993 of the Governor of the State Bank of Vietnam on the issuance of regulations on managing specimen paper money and sample payment drafts in the banking sector and previous regulations of the State Bank of Vietnam related to managing specimen money and commemorative money.

Article 3. The Heads of the Office, Directors of the Issuance and Treasury Department, Directors of the Accounting and Finance Department, Directors of the General Audit Department, Heads of relevant units at the Central State Bank; Directors of the State Bank Transaction Departments, Directors of State Bank Branches in provinces and cities; General Directors (Directors) of credit organizations, General Directors of the Vietnam Precious Metals and Jewelry Corporation, General Directors of the National Treasury are responsible for implementing this Decision.

                                                                                                               CHIEF OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

                                                                                                                                                DEPUTY GOVERNOR

                                                                                                                                                DO QUOC LUONG

                                                                                                                                                        (Signed)

REGULATIONS

REGULATION ON MANAGING SPECIMEN MONEY AND COMMEMORATIVE MONEY
(Issued together with Decision No. 179/1999/QĐ-NHNN6 dated May 22, 1999 of the Governor of the State Bank of Vietnam)

Chapter 1

GENERAL PROVISIONS

Article 1. This Regulation stipulates the printing, minting, storage, transportation, delivery, receipt, and use of specimen money and commemorative money; the sale of specimen money, commemorative money, and discontinued circulating money by the State Bank of Vietnam.

Article 2.

1. Specimen money in this Regulation includes specimen paper money and specimen metal money, which are currencies fully equipped with technical quality standards and quality equivalent to those of the types of money announced by the State Bank of Vietnam for circulation, marked with the word "Specimen" or "SPECIMEN". In addition to two rows of representative serial numbers (in positions corresponding to those of paper money) consisting of two letters and the digits "0", some types of specimen money have additional serial number rows printed on the front to facilitate the management and issuance of specimen money.

Specimen money serves as a standard in the issuance of money business and does not have value as a means of payment in circulation. Additionally, specimen money is also used for research, museum purposes, introduction, collection, and commemoration.

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

Article 3. The State Bank of Vietnam uniformly manages specimen money and the use of specimen money by the State Bank system, credit institutions, the Vietnam Precious Metals and Jewelry Corporation (hereinafter referred to collectively as banks), the National Treasury, and other agencies, organizations, and individuals operating within the territory of the Socialist Republic of Vietnam.

Article 4. Banks and the National Treasury organize off-balance-sheet accounting for specimen money and commemorative money based on physical items, recording detailed denomination, quantity, serial numbers of each specimen note, the custodian's name of specimen money and commemorative money, and periodically inventory and report according to the regulations of the State Bank of Vietnam.

Chapter 2

SPECIMEN MONEY

Article 5.

1. The Director of the Issuance and Treasury Department submits to the Governor of the State Bank of Vietnam a decision on the quantity and types of specimen money to be printed or minted.

2. The printing and minting of specimen money are carried out at the State Bank's printing and minting factories according to the regulations applicable to the printing and minting of money.

Article 6.

1. Based on the purpose, need for use, and the quantity of specimen money printed or minted, the Director of the Issuance and Treasury Department is responsible for distributing specimen money to the following entities:

a. Functional departments within the department, central money warehouses;

b. Transaction Departments, State Bank Branches in provinces and cities, representative offices of the State Bank;

c. Central state-owned commercial banks, Central Credit Unions, Vietnam Precious Metals and Jewelry Corporation, Central National Treasury;

d. Relevant units of the Ministry of Public Security;

e. Foreign banks that have relations and exchange specimen money with the State Bank of Vietnam.

2. Within the quantity of specimen money granted by the State Bank of Vietnam, the Director of the Trading Department, the Branch of the State Bank of Vietnam in provinces and cities shall be responsible for balancing the demand for use at their units and issuing specimen money to entities that have opened main transaction accounts at their units, including credit organizations, trading departments of credit organizations, branches of credit organizations, National Treasury on the local territory (excluding the entities mentioned in Clause 1, Point c of this Article); the Director of the State Bank of Vietnam Branch in provinces and cities shall issue specimen money to gold, silver, and precious stone companies on the local territory and relevant departments of the Public Security Office.

3. The following entities may be issued specimen money upon the request of the Head of the Issuance and Cash Management Department approved by the Governor of the State Bank of Vietnam:

a. International organizations, international organization offices in Vietnam;

b. Organizations and individuals inside and outside the country with needs for specimen money for purposes of introduction, museums, or currency research.

Article 7.

1. The preservation, receipt, delivery, and transportation of specimen money between Central Money Vaults, Trading Departments, State Bank of Vietnam Branches in provinces and cities, credit organizations, gold, silver, and precious stone companies, National Treasury shall be carried out according to the regulations of the State Bank of Vietnam as with the preservation, receipt, delivery, and transportation of money. Other entities shall manage and preserve on their own.

2. Central Money Vaults shall hand over one (1) set of specimen money to the head of the counting team and the head of the cash management department; banks and National Treasury shall hand over one (1) set of specimen money to the head of the currency and cash management department or the head of the treasury department directly managing and using it. One set includes specimen money of all types of money, one piece or one note of each type.

3. In case of loss of specimen money, the entity or individual responsible for managing and using specimen money, in addition to being subject to disciplinary and administrative penalties, shall also bear the responsibility for material compensation (except for the entities mentioned in Clause 3, Article 6 of this Regulation and entities purchasing specimen money). The amount of material compensation equals twice the face value of the lost specimen money. Thereafter, the State Bank of Vietnam may reissue specimen money to the user unit.

4. Damaged or torn specimen money during the usage of banks, National Treasury, public security agencies shall be reviewed and exchanged by the State Bank of Vietnam at the level where the specimen money was directly issued. The quantity of specimen money exchanged shall not exceed the quantity of specimen money issued by the State Bank of Vietnam. The exchange shall be implemented according to the regulations of the State Bank of Vietnam regarding the exchange of non-circulating money.

Article 8. The State Bank of Vietnam has the right to recall part or all of the specimen money already issued to users:

1. When the State Bank of Vietnam announces the cessation of circulation of one or more types of money, within thirty days from the date recorded in the announcement, credit organizations, gold, silver, and precious stone companies, National Treasury must return all specimen money issued of the ceased circulating money types to the Issuance and Cash Management Department, Trading Department, State Bank of Vietnam Branches that issued the specimen money. Units under the State Bank of Vietnam system only retain two (2) sets of specimen money for use locally, the remainder shall be submitted to Central Money Vaults.

2. Other entities issued specimen money shall submit when requested in writing by the State Bank of Vietnam (except for the entities mentioned in Clause 3, Article 6 of this Regulation and entities purchasing specimen money).

Article 9.

1. Heads of units under the State Bank of Vietnam system shall be responsible for guiding and implementing the distribution of specimen money to the correct recipients; regularly or unexpectedly conducting inspections on the preservation and use of specimen money at their units and at recipients on the local territory; inventorying, reporting, and organizing the recall of specimen money according to the regulations of the State Bank of Vietnam.

2. General Directors (Directors) of credit organizations on the territory of Vietnam, gold, silver, and precious stone companies, National Treasury issued specimen money by the State Bank of Vietnam shall be responsible for safely transporting, preserving, using specimen money for the intended purpose, regularly inventorying, reporting, and submitting specimen money according to the regulations of the State Bank of Vietnam and being subject to management, inspection, and handling of specimen money by the State Bank of Vietnam at various levels.

Article 10.

1. Organizations and individuals carrying or sending specimen money of Vietnamese currency abroad must have permission from the State Bank of Vietnam.

2. The Governor of the State Bank of Vietnam authorizes the Head of the Issuance and Cash Management Department to review and issue permits for carrying or sending Vietnamese specimen money abroad for cases mentioned in Clause 1 of this Article.

Chapter 3

CIRCULATING COMMEMORATIVE MONEY

Article 11. The State Bank of Vietnam organizes production and sale of circulating commemorative money itself or cooperates with domestic and foreign partners (or agents). The cooperation in producing and selling circulating commemorative money of the State Bank of Vietnam with domestic and foreign partners (or agents) shall be carried out based on contracts on the basis of equality and mutual benefit.

Article 12. Printing and minting factories under the State Bank of Vietnam shall be responsible for organizing the implementation of contracts for printing and minting circulating commemorative money in terms of quantity and quality, ensuring safety as with regular printing and minting, delivering products on time, according to specifications, quantity, and types of circulating commemorative money.

Article 13.

1. The Governor of the State Bank decides on the design model, material, quantity of circulating commemorative money to be printed and minted, and the partner (or agent) producing and selling circulating commemorative money of the State Bank of Vietnam domestically and internationally based on the proposal of the Head of the Issuance and Cash Management Department.

2. The Governor of the State Bank of Vietnam assigns the Head of the Issuance and Cash Management Department to sign contracts for producing and selling circulating commemorative money of Vietnam domestically and internationally with selected partners (or agents) after the Legal Affairs Department reviews the legal content of the contract and the International Relations Department reviews the consistency between the Vietnamese version and the foreign language version.

3. Responsibilities of the Issuance and Cash Management Department:

a. Researching and exploiting themes for circulating commemorative money both domestically and internationally, building programs and projects for producing and selling circulating commemorative money of the State Bank of Vietnam.

b. Serving as the contact point of the State Bank of Vietnam in the field of circulating commemorative money, contacting, understanding, and evaluating partners (or agents) producing and selling circulating commemorative money domestically and internationally.

c. Grant commemorative money to subjects as prescribed in Article 15 of this Regulation.

Article 14. 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 15. The Governor of the State Bank of Vietnam approves the granting or presenting of commemorative money based on the report from Departments, Bureaus, and units under the State Bank of Vietnam for the following subjects:

a. Delegations of State Bank of Vietnam staff members traveling abroad;

b. International delegations visiting and working with the State Bank of Vietnam; domestic agencies and organizations related to the State Bank of Vietnam; organizations and individuals inside and outside the country who present commemorative money or have made significant contributions to the banking industry;

c. Other subjects.

Chapter 4

PROVISIONS ON THE SALE OF SAMPLE MONEY, COMMEMORATIVE MONEY, AND SUSPENDED CIRCULATION MONEY

Article 16. The State Bank of Vietnam organizes exhibitions, introductions, and sales of sample money, commemorative money, and suspended circulation money either directly or through its agents both domestically and internationally.

Article 17. Suspended circulation money of the State Bank of Vietnam when sold to subjects with demand must be stamped "Suspended Circulation" on the front side to distinguish it from other types of circulating money.

Article 18.

1. Subjects requiring sample money, commemorative money, and suspended circulation money can purchase directly from the State Bank's agents or at the State Bank of Vietnam (Department of Issuance Operations and Treasury).

2. In cases where direct contact is not possible and subjects wish to purchase sample money, commemorative money, or suspended circulation money from the State Bank, they must submit a request form (clearly stating name, permanent address, contact address, purpose, quantity, and type required) to the Branch Office or Provincial Branch of the State Bank within their jurisdiction or directly to the State Bank of Vietnam (Department of Issuance Operations and Treasury).

3. Monthly, the Branch Office or Provincial Branch of the State Bank aggregates the demand for purchasing sample money, commemorative money, and suspended circulation money within their jurisdiction and submits it to the Central State Bank (Department of Issuance Operations and Treasury).

Article 19.

1. The Governor of the State Bank decides on the method and price of selling sample money, commemorative money, and suspended circulation money based on the proposal of the Department Head of Issuance Operations and Treasury.

2. The Department Head of Issuance Operations and Treasury reviews and decides on the quantity of sample money, commemorative money, and suspended circulation money to be sold to subjects with demand, informs and guides customers to complete necessary procedures, and delivers sample money, commemorative money, and suspended circulation money to customers.

Article 20. Revenue and expenditure related to the production and sale of sample money, commemorative money, and suspended circulation money are recorded in the operational revenue and expenditure of the State Bank.

Chapter 5

IMPLEMENTING PROVISIONS

Article 21. Organizations and individuals violating the provisions of this Regulation shall be subject to disciplinary action, administrative penalties, or criminal liability as stipulated by law depending on the nature and severity of the violation.

Article 22. Any amendments or supplements to the provisions of this Regulation shall be decided by the Governor of the State Bank.