Decree No. 222/2013/ND-CP on Cash Payments

DECREE

On Cash Payments

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Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Organizations dated June 16, 2010;

At the proposal of the Governor of the State Bank of Vietnam;

The Government issues the Decree on cash payments,

PART I
GENERAL PROVISIONS

Article 1. Scope of Regulation

This Decree stipulates cash payments and state management of cash payments in certain payment transactions within the territory of Vietnam.

Article 2. Applicability

The objects to which this Decree applies include: The State Bank of Vietnam (hereinafter referred to as the State Bank), credit organizations, foreign bank branches, Treasury, and other organizations and individuals related to cash payments.

Article 3. Explanation of Terms

In this Decree, the following terms are understood as follows:

1. Cash means banknotes and coins issued by the State Bank.

2. Cash payment is the act of organizations and individuals using cash for direct payment or performing other monetary obligations in payment transactions.

3. Cash service is the activity of the State Bank, credit organizations, foreign bank branches, Treasury providing customers with services for depositing, withdrawing cash or other services related to cash.

4. Organizations using state budget funds are budgetary units, state budget users, agencies, organizations supported by state budget funds, project sponsors, project management boards from state budget sources.

5. Organizations using state capital are organizations using state-guaranteed credit funds, state development investment credit funds, and other state investment funds.

Chapter II
CASH PAYMENTS FOR CERTAIN PAYMENT TRANSACTIONS

Article 4. Organizations using state budget funds and organizations using state capital

1. Organizations using state budget funds shall not make cash payments in transactions, except for certain cases permitted to make cash payments according to the regulations of the Ministry of Finance.

2. Organizations using state capital shall not make cash payments in transactions, except for certain cases permitted to make cash payments according to the regulations of the State Bank.

Article 5. Securities transactions

1. Organizations and individuals shall not make cash payments in securities transactions on the Stock Exchange.

2. Organizations and individuals shall not make cash payments in securities transactions registered and deposited at the Securities Depository Center outside the trading system of the Stock Exchange.

Article 6. Financial transactions of enterprises

1. Enterprises shall not make cash payments in transactions involving capital contributions and purchases, transfers of equity interests in enterprises.

2. Enterprises that are not credit organizations shall not use cash when borrowing and lending to each other.

Article 7. Disbursement of loan capital

Credit organizations, foreign bank branches shall disburse loan capital to customers in cash according to the regulations of the State Bank.

Article 8. Agreement and registration regarding cash withdrawal needs

1. Credit organizations, foreign bank branches may agree with customers on cash withdrawal plans and customers' advance notice before large-scale cash withdrawals.

2. Units transacting with the Treasury having the need to withdraw cash from the Treasury shall register according to the regulations of the Ministry of Finance.

Article 9. Fees for cash services

1. The State Bank shall set the level of fees for cash services for its customers.

2. Credit institutions and foreign bank branches shall set the level of fees for cash services for their customers and publicly display them in accordance with the provisions of the law.

Chapter III
RESPONSIBILITIES OF THE STATE MANAGEMENT AGENCIES AND RELATED PARTIES

Article 10. Responsibilities of the State Bank

1. Guide the implementation of Clause 2 of Article 4, Article 7, and Article 9 of this Decree.

2. Serve as the coordinating agency to work with relevant ministries, sectors, and agencies to guide, monitor, urge, and inspect the implementation of this Decree; annually compile the situation and report to the Prime Minister.

3. Serve as the coordinating agency to work with the Ministry of Information and Communications to develop and implement information dissemination plans to support the implementation of this Decree.

Article 11. Responsibilities of the Ministry of Finance

Guide the implementation of Clause 1 of Article 4, Article 5, Article 6, and Clause 2 of Article 8 of this Decree.

Article 12. Responsibilities of related ministries, sectors, and provincial/municipal People's Committees under the central government

1. Ministries, sectors, and provincial/municipal People's Committees under the central government within their functions and responsibilities shall be responsible for directing propaganda and implementation to organizations, individuals, subordinate agencies, and units to strictly comply with the provisions of this Decree.

2. Ministries, sectors, and provincial/municipal People's Committees under the central government shall be responsible for monitoring, compiling, and reporting periodically on an annual basis the situation of implementing this Decree in their respective fields and management scopes, to be sent to the State Bank for compilation and reporting to the Prime Minister.

Chapter IV
IMPLEMENTING PROVISIONS

Article 13. Effective Date

1. This Decree takes effect from March 1, 2014.

2. This Decree replaces Government Decree No. 161/2006/NĐ-CP dated December 28, 2006, concerning cash payments.

1. The Minister, Heads of Ministries equivalent to ministries, Heads of government agencies, Chairmen of provincial People's Committees under the central government, and related agencies, units, and individuals are responsible for implementing this Circular.

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