Decree No. 35/2005/L-CTN of the President promulgating the Foreign Exchange Ordinance, which was adopted by the Standing Committee of the National Assembly. This document stipulates issues related to foreign exchange in economic and financial activities.
Key points
- The Foreign Exchange Ordinance → regulates the management and use of foreign currency by organizations and individuals → does not specify specific rights and obligations
🌐 Social impact of this document
- Positive impact: Strengthening foreign exchange management helps protect macroeconomic stability and national financial security.
- Negative impact: It may cause difficulties for businesses in accessing and using foreign currency, increasing transaction costs.
❓ Frequently asked questions
Who does this Ordinance apply to?
The Foreign Exchange Ordinance applies to organizations and individuals involved in foreign exchange activities such as banks, enterprises, and citizens.
Are there specific regulations on managing foreign currency?
The document does not specify specific regulations on the management of foreign currency by organizations and individuals.
When does this Ordinance take effect?
Effective from the date of promulgation according to Decree No. 35/2005/L-CTN, specifically December 21, 2005.
Does it provide provisions on penalties for violations?
The document does not specify provisions regarding sanctions for violations related to foreign exchange.
Does this Ordinance apply to domestic foreign currency transactions?
The document only stipulates the management and use of foreign currency and does not specify domestic foreign currency transactions.
Full text
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PRESIDENT OF THE STATE |
SOCIALIST REPUBLIC OF VIET NAM |
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NUMBER: 35/2005/L-CTN |
HA NOI, December 21, 2005 |
ORDER
REGARDING THE ANNOUNCEMENT OF THE ORDINANCE OF THE STANDING COMMITTEE OF THE NATIONAL ASSEMBLY
PRESIDENT OF THE SOCIALIST REPUBLIC OF VIETNAM
BASED ON Article 103 and Article 106 of the Constitution of the Socialist Republic of Vietnam in 1992, amended and supplemented by Resolution No. 51/2001/QH10 dated December 25, 2001 of the Tenth Session of the Xth National Assembly;
BASED ON Article 19 of the Law on the Organization of the National Assembly;
BASED ON Article 51 of the Law on Enacting Legal Normative Documents;
NOW PROMULGATES:
THE FOREIGN EXCHANGE ORDINANCE.
HAS BEEN APPROVED BY THE STANDING COMMITTEE OF THE NATIONAL ASSEMBLY OF THE SOCIALIST REPUBLIC OF VIETNAM AT THE ELEVENTH SESSION ON DECEMBER 13, 2005./.
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PRESIDENT OF THE STATE |
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