Decision No. 20/2001/QĐ-BTC on the issuance of government bonds through discount

DECISION OF THE MINISTER OF FINANCE

Regarding the issuance of Treasury bonds through discount

THE MINISTER OF FINANCE

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

Pursuant to Decree No. 25/CP dated April 5, 1995 of the Government stipulating the tasks, powers, and organizational structure of the State Treasury under 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;

At the proposal of the Director General of the State Treasury,

Pursuant to …;

Article 1. The issuance of Treasury bonds through discount in Hanoi and Ho Chi Minh City shall be carried out with the following contents:

a/ Term of the bond: 5 years

b/ Interest rate of the bond: 7.2% per annum

c/ Time of bond sale: from April 16, 2001 to June 15, 2001

d/ Bond issuance date: June 15, 2001

đ/ Due date for bond repayment: June 15, 2006

Article 2. The subjects eligible to purchase Treasury bonds as stipulated in Article 1 above include:

- Vietnamese citizens residing both within and outside Vietnam; Foreign nationals working and living legally in Vietnam

- Social organizations, political social organizations, occupational social organizations; Social funds, charitable funds.

These organizations are not allowed to use state budget funds allocated to them to purchase Treasury bonds.

Article 3. Bonds will be issued and paid in Vietnamese dong in the form of non-named certificates, pre-printed with denominations of 1,000,000 VND, 2,000,000 VND, 5,000,000 VND, 10,000,000 VND, 20,000,000 VND, and 50,000,000 VND;

Bonds issued in this round will be listed and traded at the Securities Trading Center.

Article 4. The principal and interest payment of the bonds will be carried out as follows:

a/ The principal of the bond will be repaid once upon maturity. The interest of the bond will be paid annually.

In case the principal and interest are due but the bondholder has not come to make the payment, the amount of principal or interest will be reserved without accruing interest during the overdue period.

b/ The principal and interest of the bond will be paid at the State Treasury offices of provinces and centrally-administered cities and the State Treasury of districts and counties where the bonds were issued. In cases where the bonds are deposited with depositary organizations, the principal and interest payments will be made through these depositary organizations.

Article 5. The owner of Treasury bonds may use the bonds for sale, gift, donation, inheritance, or pledge. The bonds may not be used to replace circulating currency or to fulfill financial obligations to the State Budget.

Article 6. Proceeds from the sale of bonds will be recorded as revenue in the central budget; The capital for bond repayment and related expenses for issuing and paying off the bonds will be guaranteed by the central budget.

Article 7. The General Director of the State Treasury, heads of units directly subordinate to the Ministry of Finance, and Directors of State Treasuries of provinces and centrally-administered cities are responsible for implementing this decision./.