Circular No. 27/2016/TT-NHNN on the procedures and formalities for drafting and promulgating regulatory legal documents of the State Bank of Vietnam

CIRCULAR

Guidelines on the sequence and procedures for drafting and promulgating regulatory legal documents of the State Bank of Vietnam

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

WHEREAS,ứ Law issuing regulatory legal documents dated 22 June 2015;

Based on the Ordinance consolidating legal regulatory documents dated March 22, 2012;

Pursuant to Decree No. 34/2016/NĐ-CP dated May 14, 2016 of the Government detailing some articles and implementing mechanisms for the Law on Issuing Regulatory Legal Documents;

Pursuant to Decree No. 156/2013/NĐ-CP dated November 11, 2013, of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Legal Department;

The Governor of the State Bank of Vietnam issues this Circular guiding the sequence and procedures for drafting and promulgating regulatory legal documents of the State Bank of Vietnam.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

1. This Circular guides the sequence and procedures for drafting, promulgating, and consolidating regulatory legal documents in the fields of currency, banking operations, and foreign exchange issued by the State Bank of Vietnam (hereinafter referred to as the State Bank) or submitted to competent authorities for issuance.

Article 2. Regulatory legal documents specified in this Circular include:

a) Law, ordinance;

b) Decree of the Government (hereinafter referred to as decree), decision of the Prime Minister;

c) Circular.

3. The sequence and procedures for drafting and promulgating resolutions of the National Assembly and resolutions of the Standing Committee of the National Assembly that are primarily drafted by the State Bank; joint circulars between the Governor of the State Bank of Vietnam (hereinafter referred to as the Governor) and the Chief Justice of the Supreme People's Court, the Procurator General of the Supreme People's Procuracy shall be implemented in accordance with the Law on Issuing Legal Regulatory Documents and Decree No. 34/2016/NĐ-CP dated May 14, 2016 of the Government detailing certain provisions and measures to implement the Law on Issuing Legal Regulatory Documents (hereinafter referred to as Decree No. 34/2016/NĐ-CP).

Article 2. Applicability

This Circular applies to units under the State Bank and organizations and individuals related to the process of drafting, promulgating, and consolidating regulatory legal documents concerning currency, banking operations, and foreign exchange.

Article 3. Leadership and guidance on the work of drafting and promulgating regulatory legal documents

1. The Governor is responsible for overseeing and directing the drafting, promulgating, and consolidating of regulatory legal documents to ensure quality and compliance with prescribed deadlines.

2. Deputy Governors directly direct units assigned to oversee the drafting and promulgation of regulatory legal documents according to the Governor’s assignment.

For draft projects or draft regulatory legal documents with complex content involving multiple areas or other important issues, the Deputy Governor in charge reports to the Governor for guidance.

Article 4Assignment of units to draft regulatory legal documents

1. The Legal Affairs Department is the main unit, coordinating with other units under the State Bank to assist the Governor in organizing and drafting draft laws and ordinances primarily drafted by the State Bank, except where the Governor assigns another unit to draft them.

2. Based on the functions and tasks of the units, the scope of regulation, and the complexity of the document, the Governor assigns units to draft decrees, decisions of the Prime Minister primarily drafted by the State Bank, and circulars.

Article 5. Drafting detailed regulations

Drafts of detailed regulations must be prepared and submitted simultaneously with draft laws and ordinances and must be promulgated to take effect at the same time as the relevant law, ordinance, article, clause, or point.

Article 6. Format and presentation techniques for regulatory legal documents

The format and presentation techniques for regulatory legal documents shall be carried out in accordance with Chapter V and Appendix I of Decree No. 34/2016/NĐ-CP.

Chapter II

PREPARATION OF PROPOSALS FOR THE DEVELOPMENT OF LEGAL REGULATORY DOCUMENTS AND LIST OF DOCUMENTS PROVIDING DETAILED REGULATIONS

Section 1

PREPARATION OF PROPOSALS FOR THE DEVELOPMENT OF LAWS AND ORDINANCES, DECREES

Article 7. Plan for preparing proposals to develop laws and ordinances

1. When there is a plan to develop laws or ordinances or when assigned by the Governor, the unit responsible for drafting laws and ordinances as stipulated in Clause 1, Article 4 of this Circular shall prepare a plan for developing proposals to develop laws and ordinances to submit to the Governor.

2. The plan for preparing proposals to develop laws and ordinances must clearly specify the name of the proposed law or ordinance, preparation time for the dossier, time for soliciting opinions, time for submitting to the Ministry of Justice for review, and time for submission to the Government for consideration and approval.

Article 8. Proposing to draft laws and ordinances

1. After receiving the Governor's approval for the plan to propose drafting laws and ordinances, the assigned unit shall coordinate with relevant units:

a) Implement the activities stipulated in Clause 1 of Article 34, 35 of the Law on Enacting Legal Normative Documents, Articles 5, 6, 7, 8, 9 of Decree No. 34/2016/NĐ-CP;

b) Prepare the proposal dossier for drafting laws and ordinances in accordance with Clause 1 of Article 37 of the Law on Enacting Legal Normative Documents;

c) Submit to the Governor or Deputy Governor in charge to seek opinions on the proposal to draft laws and ordinances in accordance with Article 36 of the Law on Enacting Legal Normative Documents, Articles 10, 11 of Decree No. 34/2016/NĐ-CP; study, adopt, and explain the comments; complete the proposal dossier for drafting laws and ordinances;

d) Submit to the Governor or Deputy Governor in charge to send the Ministry of Justice for examination of the proposal to draft laws and ordinances; study, adopt, and explain the examination opinions of the Ministry of Justice; complete the dossier in accordance with Clause 2 of Article 40 of the Law on Enacting Legal Normative Documents;

đ) Submit to the Governor or Deputy Governor in charge to submit the proposal to draft laws and ordinances to the Government for consideration and approval; study and complete the proposal dossier for drafting laws and ordinances based on the Government's resolution;

e) Submit to the Governor or Deputy Governor in charge to send the completed proposal dossier for drafting laws and ordinances according to the Government's resolution to the Ministry of Justice no later than December 31 each year;

g) Send a copy of the approved proposal to draft laws and ordinances to the Office to compile it into the State Bank's work program and the Government's work program;

2. During the process of proposing to draft laws and ordinances, if the proposal contains complex content and differing opinions, the proposing unit shall report to the Governor or Deputy Governor in charge to seek the opinion of the State Bank Leadership;

Article 9. Adjusting the Program for Drafting Laws and Ordinances

The adjustment of the program for drafting laws and ordinances shall be carried out in accordance with Article 51 of the Law on Enacting Legal Normative Documents, Article 24 of Decree No. 34/2016/NĐ-CP;

Article 10. Proposing to Draft Decrees

1. Based on their functions and tasks, units under the State Bank may propose to draft decrees or be assigned by the Governor to take the lead in drafting decrees:

a) Implement the activities stipulated in Clauses 1, 2, 3 of Article 85 of the Law on Enacting Legal Normative Documents, Articles 5, 6, 7, 8, 9 of Decree No. 34/2016/NĐ-CP;

b) Prepare the proposal dossier for drafting decrees in accordance with Article 87 of the Law on Enacting Legal Normative Documents;

c) Submit to the Governor or Deputy Governor in charge to seek opinions on the proposal to draft decrees in accordance with Article 86 of the Law on Enacting Legal Normative Documents, Articles 10, 11 of Decree No. 34/2016/NĐ-CP; study, adopt, and explain the comments; complete the proposal dossier for drafting decrees and send it to the Department of Legal Affairs for review before sending it to the Ministry of Justice for examination;

d) Submit to the Governor or Deputy Governor in charge to send the Ministry of Justice for examination of the proposal to draft decrees; study, adopt, and explain the examination opinions of the Ministry of Justice; complete the dossier in accordance with Clause 2 of Article 89 of the Law on Enacting Legal Normative Documents;

đ) Submit to the Governor or Deputy Governor in charge to submit the proposal to draft decrees to the Government for consideration and approval;

e) Send a copy of the approved proposal to draft decrees to the Office to compile it into the State Bank's work program and the Government's work program; send the approved proposal to draft decrees to the Department of Legal Affairs for monitoring and urging;

If adjustments to the proposal to draft decrees are needed, the proposing unit shall cooperate with the Office to implement the adjustments in accordance with the regulations on adjusting the Government's work program and send it to the Department of Legal Affairs for monitoring and urging;

2. During the process of proposing to draft decrees, if the proposal contains complex content and differing opinions, the proposing unit shall report to the Governor or Deputy Governor in charge to seek the opinion of the State Bank Leadership;

3. For decrees within the list of detailed regulatory documents for laws and ordinances, the units shall implement in accordance with the provisions of Section 3 of this Chapter without following the procedures for proposing to draft decrees stipulated in Clauses 1 and 2 of this Article.

Article 11. Proposals for drafting laws, ordinances, decrees proposing amendments or supplements to industries or trades subject to conditional business investment or business investment conditions.

1. In addition to the contents prescribed in the regulations on drafting proposals for laws, ordinances, and decrees as stipulated in Articles 7, 8, and 10 of this Circular, for proposals for drafting laws, ordinances, and decrees proposing amendments or supplements to industries or trades subject to conditional business investment or business investment conditions, the units drafting the proposals need to supplement the following contents:

a. The industries or trades subject to conditional business investment or business investment conditions that are proposed to be amended or supplemented;

b. Analysis of the necessity and purpose of amending or supplementing industries or trades subject to conditional business investment or business investment conditions in accordance with the provisions of Clauses 1, 3, and 4 of Article 7 of the Investment Law;

c. The basis for amending or supplementing industries or trades subject to conditional business investment or business investment conditions and the entities required to comply;

d. Evaluation of the rationality and feasibility of amending or supplementing industries or trades subject to conditional business investment or business investment conditions and their consistency with international investment treaties;

đ. Evaluation of the impact of amending or supplementing industries or trades subject to conditional business investment or business investment conditions on state management work and business investment activities of the entities required to comply.

2. During the process of drafting proposals for laws, ordinances, and decrees, the units drafting the proposals shall submit the proposals to the Governor or Deputy Governor responsible for seeking opinions from the Ministry of Planning and Investment regarding the proposals to amend or supplement industries or trades subject to conditional business investment or business investment conditions.

Section 2

PREPARATION OF THE PROGRAM FOR CIRCULAR DEVELOPMENT

Article 12. Program for circular development

1. By no later than November 1st each year, the Legal Department shall issue a document requesting units under the State Bank to propose the drafting of circulars expected to be issued in the following year.

2. Units shall base on their functions and tasks to draft proposals for circular development of the following year and submit them to the Governor or Deputy Governor responsible for comments and send them to the Legal Department no later than December 1st each year.

The content of the proposal for circular development must clearly specify: the name of the circular, the necessity of issuance, the basis for issuance, the applicable subjects, the scope of regulation, basic content, the main unit drafting, the expected issuance time, and the drafting plan for each document.

The drafting plan for documents must specifically forecast the following time points by month: preparing a report on the impact assessment of new policies (if any); completing the drafting of the circular draft; completing the solicitation of opinions on the circular draft; sending the Legal Department for review of the circular draft; submitting the circular draft to the Governor for signature and issuance.

3. The Legal Department shall examine and consolidate the proposals for circular development from the units. In cases where it is necessary to clarify the content planned for the circular development, the Legal Department shall discuss or issue a document requesting the unit to explain or organize meetings to discuss the proposals for circular development from the units.

4. No later than December 15th each year, the Legal Department shall draft the program for circular development and submit it to the Governor for signature and issuance.

In cases where there is disagreement with the unit submitting the proposal for circular development regarding the necessity of issuance, the name or the feasibility of the development schedule of the document, the Legal Department will not include or adjust such items in the draft program for circular development and report to the Governor for consideration and decision.

In cases where it is deemed necessary to issue a circular to meet management requirements or to align with higher-ranking legal normative documents, the Legal Department shall coordinate with relevant units to proactively propose its inclusion in the program for circular development for the Governor's consideration and decision.

5. After being signed and issued by the Governor, the program for circular development shall be published on the electronic portal of the State Bank.

Article 13. Adjusting the program for drafting circulars

1. In cases where additional items are added to the program for drafting circulars, units shall implement according to the procedures for proposing the drafting of circulars as stipulated in Clauses 2 and 3 of Article 12 of this Circular.

2. In cases where items are removed from the program or the time for submitting draft circulars is adjusted, the main drafting unit shall report to the Governor or Deputy Governor in charge, clearly stating the reasons, measures to address the issues, and plans for drafting appropriate documents in accordance with the proposed submission time, and send a document to the Legal Department after receiving approval from the Governor or Deputy Governor in charge.

3. At the latest on the 25th day of the last month of each quarter or when there is an urgent request, the Legal Department shall review and consolidate the adjustment of the program for drafting circulars to submit to the Governor for decision. In cases where there are differing opinions on the proposal to adjust the program for drafting circulars from units, the Legal Department shall propose to the Governor for consideration and decision.

4. The decision to adjust the program for drafting circulars, after being signed and issued by the Governor, shall be published on the Central Bank's electronic information portal.

Article 14. Proposing the drafting of circulars belonging to the list of detailed regulations for laws and ordinances

For circulars belonging to the list of detailed regulations for laws and ordinances, units shall not implement the procedures for proposing the drafting of circulars as stipulated in Articles 12 and 13 of this Circular, but shall follow the provisions set out in Section 3 of this Chapter.

Section 3

ESTABLISHING THE LIST OF DETAILED REGULATIONS FOR LAWS AND ORDINANCES

Article 15. Establishing the list of detailed regulations for laws and ordinances drafted by the State Bank

1. Within five working days from the date the law or ordinance drafted by the State Bank is passed, the Legal Department shall be responsible for reviewing and drafting the list of detailed regulations in accordance with points a and b of Clause 1 of Article 28 of Decree 34/2016/ND-CP, including the proposed allocation of the main drafting unit for cases where the main drafting agency is the State Bank, and sending it to relevant units within the State Bank for comments.

2. Units requested to provide comments shall respond in writing within a maximum of three working days from the date they receive the request for participation in comments.

3. Within twenty days from the date the law or ordinance is passed, the Legal Department shall study, incorporate feedback, and finalize the draft list of detailed regulations to submit to the Governor for signing and sending to the Ministry of Justice.

4. The unit assigned to mainly draft the detailed regulation shall be responsible for coordinating with the General Office to include the work program of the State Bank and the Government’s work program; coordinating with the Legal Department to register in the State Bank’s circular drafting program (if applicable).

Article 16. Detailed regulations for laws and ordinances not drafted by the State Bank

In cases where the Prime Minister's decision on the list of detailed regulations for laws and ordinances assigns the State Bank to mainly draft the detailed regulation, the Governor shall assign the unit to mainly draft this detailed regulation. The unit assigned to mainly draft shall coordinate with the General Office to include the work program of the State Bank and the Government’s work program; coordinating with the Legal Department to register in the State Bank’s circular drafting program (if applicable).

Article 17. Adjusting the time for submitting detailed regulations for laws and ordinances for promulgation

1. In cases where it is necessary to adjust the time for submitting detailed regulations for laws and ordinances for promulgation, the unit assigned to mainly draft shall submit a document clearly stating the reasons, solutions, and implementation deadlines to the Governor for submission to the Ministry of Justice.

2. After the proposal to adjust the time for submitting detailed regulations for promulgation is approved, the main drafting unit shall coordinate with the General Office to include the work program of the State Bank and the Government’s work program; coordinating with the Legal Department to adjust the State Bank’s circular drafting program (if applicable).

Chapter III

DRAFTING, PROMULGATING, CONSOLIDATING LEGAL REGULATIONS

LEGISLATION

Section 1

DRAFTING, PROMULGATING LAWS, ORDINANCES, DECREES, DECISIONS OF THE PRIME MINISTER

Article 18. Procedure for drafting laws, ordinances, decrees, and decisions of the Prime Minister

1. On the basis of the Government's resolution approving the proposal to draft laws, ordinances, decrees, the unit entrusted with the main responsibility for drafting shall proactively carry out the drafting of the draft law, ordinance, decree.

2. The drafting of laws, ordinances, decrees, and decisions of the Prime Minister shall be carried out in accordance with the provisions set forth in Sections 2, 3, 4, 5, 6 of Chapter III, Articles 90, 91, 92, 93, 94, 95, 96 of the Law on Enacting Legal Normative Documents, Section 3 of Chapter V, and Section 1, Subsection 1 of Section 2 of Chapter IV of Decree No. 34/2016/NĐ-CP.

3. The unit entrusted with the main responsibility for drafting shall have the duty to seek opinions from the leadership of the State Bank regarding the content of the draft law, ordinance, and the complex contents of the draft decree and decision of the Prime Minister during the drafting process.

Section 2

DRAFTING AND ISSUANCE OF CIRCULARS

Article 19. Procedure for drafting circulars

1. Prepare an impact assessment report of new policies (if applicable) in accordance with Clause 2 of Article 31 of Decree No. 34/2016/NĐ-CP for cases where circulars are drafted pursuant to Clause 2 of Article 24 of the Law on Enacting Legal Normative Documents.

2. Draft the circular.

3. Solicit, incorporate, and explain feedback on the draft circular.

4. Review the draft circular.

5. Submit for approval and issuance of the circular.

Article 20. Drafting the circular

1. The unit entrusted with the main responsibility for drafting shall have the duty to study relevant information and materials and based on the policy impact assessment report (if applicable), implement the following:

a) Develop a framework;

b) Draft the circular;

c) Draft the submission document, clearly stating: the necessity of issuing the document; the purpose and guiding principles for drafting the document; the process of drafting the document; the structure and basic content of the draft document; issues seeking opinions (if any);

d) Provide explanations for the contents of the draft circular or compare and explain the differences between the draft circular and the amended, supplemented, or replaced document (in cases of drafting an amending, supplementing, or replacing document).

2. During the drafting process, the unit entrusted with the main responsibility for drafting may mobilize the participation of research institutes, associations, societies, universities, experts, scientists, and other related organizations and individuals.

Article 21. Soliciting Opinions on the Draft Circular

1. After completing the draft circular, the unit entrusted with the main responsibility for drafting shall report to the Governor or Deputy Governor in charge for review of the content and permission to solicit opinions on the draft circular.

2. Solicit opinions from related units within the State Bank:

a) The unit entrusted with the main responsibility for drafting shall send a letter soliciting opinions from related units within the State Bank concerning the content of the draft circular. The unit entrusted with the main responsibility for drafting may specify issues requiring opinions that are appropriate to the functions and tasks of each unit;

b) The units solicited for opinions shall have the responsibility to reply in writing within a maximum period of seven working days from the date of receipt of the request for participation in the opinion (except in cases where organizations solicit opinions on administrative procedures in accordance with point d of this clause).

In case of necessity and with the consent of the Governor or Deputy Governor in charge, the unit entrusted with the main responsibility for drafting may set a shorter period for soliciting opinions than the period mentioned above, but it must be at least three working days. The units solicited for opinions shall have the responsibility to reply according to the deadline stated in the letter soliciting opinions;

c) The head of the unit solicited for opinions shall bear responsibility before the Governor for not participating or delaying participation in the opinion and any arising difficulties (if any) related to the content under the management responsibility of the unit;

d) For draft circulars containing provisions on administrative procedures, in addition to participating in opinions on the content, the Department of Legal Affairs shall provide opinions on administrative procedures in the draft circular. In necessary cases, the Department of Legal Affairs shall organize solicitation of opinions from related agencies, organizations, and affected entities regarding the provisions on administrative procedures.

3. Solicit opinions from directly affected entities, other related agencies, organizations, and individuals:

a) The unit entrusted with the main responsibility for drafting shall propose to the Governor or Deputy Governor in charge a list of directly affected entities, agencies, organizations, and individuals (excluding those specified in point b of this clause) to solicit opinions on the content of the draft. The period for soliciting opinions must be specifically stated in the letter soliciting opinions and ensure that directly affected entities, agencies, organizations, and individuals have sufficient time to study and participate in opinions on the draft;

b) The unit entrusted with the main responsibility for drafting shall send the draft circular to the Central Committee of the Vietnam Fatherland Front; send the draft circular related to the rights and obligations of enterprises to the Vietnam Chamber of Commerce and Industry to solicit opinions;

c) The unit entrusted with the main responsibility for drafting shall post the full text of the draft circular on the Government’s official website and the State Bank’s official website for at least 60 days to allow agencies, organizations, and individuals to participate in opinions.

4. If the draft circular contains significant changes compared to the draft already sent for opinions or if deemed necessary, the unit entrusted with the main responsibility for drafting shall again solicit opinions from related units within the State Bank and directly affected entities to ensure the feasibility of the document.

During the process of providing comments and reviewing the draft document, the Department of Legal Affairs may request the unit entrusted with the main responsibility for drafting to again solicit opinions from related units within the State Bank and directly affected entities if the draft document contains significant changes compared to the draft already sent for opinions.

5. In case of urgency, if it is deemed that obtaining opinions pursuant to Clauses 1, 2, 3, and 4 of this Article does not meet the requirements for progress, the leading unit shall report to the Governor or Deputy Governor in charge for consideration and decision on organizing simultaneous opinion solicitation from relevant units, directly affected subjects, other related agencies or organizations, or convening a meeting to directly solicit opinions.

Article 22. Soliciting Opinions from the Bank’s Leadership

In cases where the draft circular contains complex contents with differing opinions, the leading unit shall report to the Governor or Deputy Governor in charge to solicit opinions from the Bank’s leadership.

Article 23. Consolidating and Adopting Opinions

1. Within a maximum period of thirty days from the deadline for submitting opinions, the leading unit shall be responsible for researching, consolidating, adopting, explaining opinions, and revising the draft circular. If opinions are not adopted, the leading unit must provide specific explanations.

The adoption of opinions regarding administrative procedures in the draft circular must be reflected as a separate part in the document explaining opinions.

2. For complex issues with differing opinions, the leading unit shall report to the Governor or Deputy Governor in charge to seek guidance.

3. After adopting opinions and revising the draft document, if necessary, the leading unit may continue to solicit opinions from relevant units, organizations, or individuals.

Article 24. Reviewing Draft Circulars

1. After revising the draft circular according to the opinions of relevant units, organizations, or individuals, and the guidance of the Bank’s leadership (if applicable), the leading unit shall submit the draft circular file to the Legal Department for review.

2. The dossier for review includes:

a) A letter requesting review;

b) The draft proposal report as stipulated at point c, Clause 1, Article 20 of this Circular;

c) The draft circular after adopting opinions from units, organizations, or individuals;

d) A summary of opinions, explanation of adopting or not adopting opinions from units, organizations, or individuals; copies of submitted opinions;

đ) An explanation of the contents of the draft circular or a comparison and explanation of differences between the draft circular and the amended, supplemented, or replaced document (in cases of drafting amendment, supplementation, or replacement documents);

e) A policy impact assessment report as stipulated at Clause 1, Article 19 of this Circular (if applicable); an administrative procedure impact assessment report and a report on integrating gender equality issues (if applicable);

g) Other related documents (if applicable).

3. The Legal Department shall organize the review of the draft Circular in one of the following forms:

a) Establishing an advisory review board: For draft circulars containing provisions directly affecting the rights, obligations, and interests of citizens, businesses, involving multiple sectors or fields, or drafted by the Legal Department, the Legal Department shall propose to the Governor to establish an advisory review board in accordance with Article 48 of Decree 34/2016/NĐ-CP;

b) Self-review by the Legal Department. When necessary, the Legal Department may organize meetings including representatives from the Legal Department, the leading unit, and some related units to assist in reviewing the draft circular.

4. In cases requiring clarification of the draft circular's content, the Legal Department may request the leading unit to provide relevant information or documents related to the draft or to explain the provisions clearly in the draft.

5. The content of the review is as prescribed in Clause 3, Article 102 of the Law on Enacting Regulatory Legal Documents.

6. The review period: Within a maximum period of ten days from the date of receiving all requested review files, the Legal Department shall issue a review document to the leading unit.

In urgent cases, the Legal Department shall be responsible for reviewing the draft circular within a maximum period of five working days from the date of receiving all requested review files.

7. After receiving the review document, the leading unit shall study, adopt, revise the draft circular, and send a document to the Legal Department detailing the adoption and explanation of the review opinions along with the revised draft circular according to the review opinions.

In cases of complex content, the leading unit shall consider and decide whether to report and seek guidance from the Governor or Deputy Governor in charge before sending the document adopting and explaining review opinions to the Legal Department.

8. After receiving the document adopting and explaining review opinions, the Legal Department shall coordinate with the leading unit to finalize the draft circular.

If in agreement with the content of the draft circular, the Legal Department shall affix its review seal on the draft circular for the leading unit to submit to the Governor.

If further clarification of the draft circular's content is needed, the Legal Department shall discuss directly or invite representatives from the leading unit to convene a meeting to reach consensus on the draft circular's content before affixing the review seal.

9. After coordinating with the leading unit to finalize the draft, if there are still differing opinions, the Legal Department shall issue a document retaining its opinion to the leading unit. The leading unit shall report to the Governor or Deputy Governor in charge for consideration and decision. The Legal Department shall affix its review seal according to the Governor's or Deputy Governor's instructions.

If clarification of the retained opinion is required, the Legal Department shall submit a report to the Governor or Deputy Governor in charge and affix the review seal after receiving their guidance.

10. Draft circulars drafted by the Legal Department shall not follow the review process prescribed in this Article, except for the provisions at point a, Clause 3, and Clause 5 of this Article. The Legal Department shall affix its review seal on the circular before submitting it to the Governor for signature and issuance.

Article 25. Submission for issuance of Circulars

1. The leading unit shall submit to the Governor for signature to issue the Circular. The dossier for submission for issuance of the Circular includes:

a) A proposal to the Governor as prescribed at point c, Clause 1, Article 20 of this Circular;

b) The draft Circular which has been stamped with the approval seal of the Legal Department;

c) A summary, explanation, and adoption of comments from units, organizations, and individuals on the content of the draft Circular;

d) The review document; the explanation and adoption of review comments;

đ) The document retaining the opinion of the Legal Department (if any);

e) Impact assessment report, administrative procedure evaluation document, report on gender mainstreaming (if any);

g) Other related documents (if applicable).

2. The Governor or Deputy Governor assigned to examine and sign to issue the Circular.

Article 26. Issuance of Circulars

1. After the Circular is signed for issuance, the Office shall be responsible for numbering the Circular; affixing the seal; making copies; keeping records; sending the document to organizations and individuals as prescribed in Clause 2, Article 27 of this Circular and returning the dossier submitted for issuance to the leading unit.

2. The leading unit shall be responsible for sending the electronic version of the Circular to the Office and the Legal Department, and shall bear responsibility for the accuracy of the electronic version; sending press releases about the issuance of the Circular to the Office; coordinating with the Office to ensure timely and accurate printing and distribution of the Circular.

Article 27. Publication in the Official Gazette, Sending, and Announcing the Issuance of Circulars

1. Publication in the Official Gazette, sending, and announcing Circulars shall be carried out in accordance with the Law on Issuing Legal Normative Documents, guiding documents, and regulations on protecting state secrets.

2. Within three working days from the date of signing the issuance of the document, the Office shall be responsible for:

a) Sending the original document along with the electronic version to the Government Office for publication in the Official Gazette as prescribed and for uploading on the Government's online portal;

b) Sending the document to relevant agencies and units listed in the "recipients" section of the Circular;

c) Coordinating with relevant units to publish the Circular and press releases about its issuance on the State Bank of Vietnam's online portal.

3. The Legal Department shall be responsible for uploading the full text of the Circular onto the national database on laws no later than fifteen days from the date of signing the issuance.

4. After issuance, the Circular shall be disseminated to related units, organizations, and individuals. For Circulars with broad scope affecting multiple areas of work, the Legal Department shall be responsible for organizing and coordinating with the leading drafting unit, Branches of the State Bank in provinces and centrally-administered cities shall organize publicity and dissemination to those responsible for implementation.

Section 3

CONSOLIDATION OF LEGAL NORMATIVE DOCUMENTS

Article 28. Consolidation of Decrees and Resolutions of the Prime Minister drafted by the State Bank

1. Within one working day from the date of signing the issuance of the amendment and supplementation document, the leading unit shall be responsible for sending the electronic version of the amendment and supplementation document to the Legal Department and shall bear responsibility for the accuracy of the electronic version.

2. Within three working days from the date of receiving the electronic version of the amendment and supplementation document, the Legal Department shall be responsible for consolidating the document and submitting it to the Governor or Deputy Governor for verification of the consolidated document.

3. Within two working days from the date of the Governor or Deputy Governor's verification of the consolidated document, the Office shall be responsible for sending the original of the consolidated document along with the electronic version to the Government Office for publication in the Official Gazette and uploading on the Government's online portal.

Article 29. Consolidation of Circulars and Joint Circulars Drafted by the State Bank

1. Within one working day from the date the Governor signs to issue the Circular or Joint Circular for amendment and supplementation, the drafting unit shall be responsible for sending the electronic version of the Circular or Joint Circular for amendment and supplementation to the Legal Department and bear responsibility for the accuracy of the electronic version.

2. Within three working days from the date of receiving the electronic version of the Circular or Joint Circular for amendment and supplementation, the Legal Department shall be responsible for consolidating the document and submitting it to the Governor or Deputy Governor for verification signature on the consolidated document.

3. Within two working days from the date the Governor or Deputy Governor signs to verify the consolidated document, the Office shall be responsible for sending the consolidated document for publication in the Official Gazette and coordinating with relevant units to publish the consolidated document on the State Bank's electronic information portal.

Article 30. Techniques for Consolidating Regulatory Legal Documents

The techniques for consolidating regulatory legal documents shall be carried out in accordance with the provisions of the Ordinance on Consolidation of Regulatory Legal Documents.

Chapter IV

IMPLEMENTATION

Article 31Financial Resources for Building Regulatory Legal Documents

1. Financial resources for building regulatory legal documents shall be implemented in accordance with the provisions of Section 3 Chapter X of Decree No. 34/2016/ND-CP, guidelines of the Ministry of Finance and the State Bank on managing and using state budget funds to ensure the work of building and issuing regulatory legal documents.

2. Heads of units under the State Bank, based on assigned tasks for drafting and issuing regulatory legal documents, shall be responsible for proposing and coordinating with the Department of Finance and Accounting, the Administrative Management Bureau to allocate financial resources and other necessary conditions to ensure the work of building and issuing regulatory legal documents.

3. The main drafting unit of regulatory legal documents shall prepare a detailed budget for the construction of regulatory legal documents and submit it to the Legal Department for review regarding the appropriateness of the budget with the complexity, scope, and regulated subjects of the document.

Article 32. Responsibilities of units under the State Bank of Vietnam

1. Units under the State Bank of Vietnam shall be responsible for:

a) Adhere to the regulations on procedures and processes for drafting and issuing regulatory legal documents as stipulated in the Law on Issuing Regulatory Legal Documents, guiding documents, and provisions of this Circular;

b) The main drafting unit shall be responsible for ensuring the progress and quality of the draft document, promptly reporting to the Governor or Deputy Governor in charge about difficulties and obstacles encountered during the process of building the document;

c) By the latest on the 23rd of each month or upon urgent request from the Legal Department and the Office, the main drafting units shall be responsible for sending reports on the situation of building regulatory legal documents (in paper and electronic versions) to the Legal Department and the Office. In case the progress of building regulatory legal documents by the unit is delayed, the report must clearly state the reasons and solutions for rectification.

2. The Legal Department shall be responsible for:

a) Guide units to comply with the regulations on procedures and processes for drafting and issuing regulatory legal documents of the State Bank;

b) Monitor and urge units to draft draft regulatory legal documents according to schedule; report to the Governor on issues arising during the monitoring and urging process of implementing the construction of regulatory legal documents by units;

c) By the latest on the 5th of the first month of each quarter, the Legal Department shall be responsible for compiling and submitting to the Governor a report on the implementation of the program for issuing circulars of the State Bank in the previous quarter;

d) By the latest on the 25th of each month, the Legal Department shall be responsible for updating electronic information on the implementation of the program for building laws and ordinances and the situation of building detailed regulatory documents and send them to the Ministry of Justice;

đ) By the latest on the 5th of the first month of each quarter, the Legal Department shall be responsible for submitting a written report on the implementation of the program for building laws and ordinances and the situation of building detailed regulatory documents to the Ministry of Justice.

3. The Office shall be responsible for: Reporting on the situation and progress of building decrees and decisions of the Prime Minister and difficulties and obstacles encountered during the process of drafting decrees and decisions of the Prime Minister according to the reporting system for implementing projects in the Government's work program.

Article 33. Effective Date

This Circular takes effect from November 15, 2016, and replaces Circular No. 30/2013/TT-NHNN dated December 9, 2013, issued by the Governor, which stipulates the procedures and processes for drafting and issuing regulatory legal documents of the State Bank of Vietnam.

Article 34. Implementation Organization

The Head of the Office, the Director of the Legal Department, the Heads of units under the State Bank, and the Governors of the State Bank branches in provinces and centrally governed cities shall be responsible for organizing the implementation of this Circular.