Circular No. 38/2015/TT-NHNN amending and supplementing certain articles of Circular No. 16/2012/TT-NHNN dated May 25, 2012, issued by the Governor of the State Bank of Vietnam guiding certain provisions of Decree No. 24/2012/NĐ-CP dated April 3, 2012, of the Government on managing gold trading activities.

CIRCULAR

Amending and supplementing some articles of Circular No. 16/2012/TT-NHNN dated May 25, 2012

of the Governor of the State Bank of Vietnam Vietnam guiding certain provisions of Decree No. 24/2012/NĐ-CPNĐ-CP

dated April 3, 2012, of the Government on gold business management

___________________________

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

No. 06/2013/UBTVQH13 dated March 18, 2013;

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;

Pursuant to Decree No. 24/2012/NĐ-CP dated April 3, 2012 of the Government on gold trading activities management;

At the proposal of the Director of the Department of Foreign Exchange Management;

The Governor of the State Bank of Vietnam issues this Circular to amend and supplement some articles of Circular No. 16/2012/TT-NHNN dated May 25, 2012, issued by the Governor of the State Bank of Vietnam, guiding certain provisions of Government Decree No. 24/2012/NĐ-CP dated April 3, 2012, on managing gold trading activities (hereinafter referred to as Circular No. 16/2012/TT-NHNN).

Article 1.Article 1. Amending and supplementing some articles of Circular No. 16/2012/TT-NHNN as follows:

1. AMENDING AND SUPPLEMENTING ARTICLE 3 AS FOLLOWS:

“Article 3. Conditions for issuing a Gold Raw Material Import Permit for enterprises engaged in jewelry and art gold production

1. Possess a Certificate of Eligibility for Jewelry and Art Gold Production issued by the State Bank of Vietnam.

2. The need for importing raw gold material is consistent with the plan for producing jewelry and art gold.

3. Not violating laws on managing gold trading activities or laws on managing the quality of jewelry and art gold circulating in the market within the last 12 (twelve) months immediately preceding the date of application and up to the date of issuance of the Gold Raw Material Import Permit.”

2. Amend and supplement the name of Section 3 as follows:

"Documents for applying for and adjusting Certificates of Eligibility for Jewelry and Art Gold Production, Permits for Buying and Selling Gold Bars, and Permits for Exporting and Importing Gold Raw Materials".

3. Amending and supplementing Article 8 as follows:

“Article 8. Documents for applying for a Certificate of Eligibility for Gold Jewelry and Artisanal Gold Production

1. Application form for a Certificate of Eligibility for Jewelry and Art Gold Production (according to Form 1 attached to this Circular).

2. Business registration certificate and documents proving that the enterprise has registered to engage in jewelry and art gold production in accordance with the law.

3. Documents or materials proving ownership or lawful right to use the production site; declaration on facilities and equipment serving jewelry and art gold production activities; plan to implement legal regulations on managing the quality of jewelry and art gold circulating in the market, including the implementation of regulations on declaring standards applied and labeling goods for jewelry and art gold (according to Form 1a attached to this Circular).”

4. Supplement Article 8a after Article 8 as follows:

“Article 8a. Documents for applying for adjustment of a Certificate of Eligibility for Jewelry and Art Gold Production

1. Request for adjustment of a Certificate of Eligibility for Jewelry and Art Gold Production.

2. Business registration certificate.

3. In case of adjusting the production site on the Certificate of Eligibility for Jewelry and Art Gold Production, the accompanying documents include proof of ownership or lawful right to use the production site; declaration on facilities and equipment serving jewelry and art gold production activities at the new address.”

5. Amend and supplement Article 9 as follows:

“Article 9. Documents for applying for a License for Buying and Selling Gold Bars

1. Documents for applying for a Permit for Buying and Selling Gold Bars for enterprises include:

a) Application form for a Permit for Buying and Selling Gold Bars (according to Form 2 attached to this Circular);

b) List of locations registered as places for buying and selling gold bars (head office, branch, business location);

c) Business registration certificate, branch operation registration certificate, and documents proving that the locations registered for buying and selling gold bars according to point b of this clause have been registered for business in accordance with the law;

d) Confirmation from the tax authority regarding the amount of tax paid for gold trading activities in the two years immediately preceding the application;

đ) Financial statements audited for the two years immediately preceding the application.

2. Documents for applying for a Permit for Buying and Selling Gold Bars for credit institutions include:

a) Application form for a Permit for Buying and Selling Gold Bars (according to Form 3 attached to this Circular);

b) List of locations registered as places for buying and selling gold bars (head office, branch, transaction office);

c) Business registration certificate, branch operation registration certificate, and documents proving that the locations registered for buying and selling gold bars according to point b of this clause have been registered for business in accordance with the law.”

6. Supplement Article 9a after Article 9 as follows:

"Article 9a. Documents for requesting adjustment of the License for Gold Bar Trading

1. In case of changing information about the enterprise on the License for Buying and Selling Gold Bars, the documents include:

a) Request for changing information about the enterprise on the Permit for Buying and Selling Gold Bars;

b) Business registration certificate.

2. In case of changing the name or address of the place for buying and selling gold bars

a) For enterprises, the documents include:

(i) Request for changing the name or address of the place for buying and selling gold bars (according to Form 3a attached to this Circular);

(ii) Business registration certificate or branch operation registration certificate or documents proving that the change in the place for buying and selling gold bars has been registered for business in accordance with the law;

b) For credit institutions, the documents include:

(i) Request for changing the name or address of the place for buying and selling gold bars (according to Form 3a attached to this Circular);

(ii) Business registration certificate (in case of changing the head office); approval document from the provincial or city branch of the State Bank or the Banking Inspection and Supervision Department for changing the name of the branch, changing the location of the branch's headquarters, or changing the location of the transaction office; report from the credit institution on changing the name of the transaction office.

3. In case of adding a buying and selling gold bar site, the documents include:

a) Request for addition of a buying and selling gold bar site (in accordance with Form 3b attached to this Circular);

b) Documents proving that the place for buying and selling gold bars has been registered for business in accordance with the law.

4. In case of requesting to terminate the activity of buying and selling gold bars at a location that has been permitted, the documents include a request to terminate the activity of buying and selling gold bars at the permitted location, clearly stating the reasons.”

7. Supplement Clause 4a after Clause 4 of Article 10 as follows:

“4a. Report on the implementation of legal regulations on managing the quality of jewelry and art gold circulating in the market within the last 12 (twelve) months immediately preceding the submission of the documents, including a detailed report on the implementation of declaring standards applied and labeling for jewelry and art gold (according to Form 22 attached to this Circular).”

8. Amend and supplement Clause 5 of Article 10 as follows:

"5. The production plan for jewelry and decorative gold products of the enterprise (in accordance with the form at Appendix 6a of this Circular)."

9. Amend and supplement Article 11 as follows:

"Article 11. Documents for applying for a Temporary Import Permit for raw gold to re-export finished products for enterprises with overseas processing contracts for jewelry and decorative gold products."

"1. Application form for a Temporary Import Permit for raw gold to re-export finished products (in accordance with the form at Appendix 4 of this Circular)."

2. Business registration certificate.

3. Contract for processing jewelry and decorative gold products with foreign entities.

"4. Report on the import situation of raw gold, production, and export of jewelry and decorative gold products of the enterprise within the last 12 (twelve) months prior to the submission of the application (in accordance with the form at Appendix 7 of this Circular), accompanied by a list of customs declarations for temporary import-re-export of gold and deferred deduction certificates confirmed by Customs (in accordance with the form at Appendix 7a of this Circular)."

"5. The production plan for jewelry and decorative gold products of the enterprise."

"10. Supplement Article 11a following Article 11 as follows:"

"Article 11a. Documents for applying to amend a Temporary Import Permit for raw gold to re-export finished products for enterprises with overseas processing contracts for jewelry and decorative gold products."

"1. Document requesting amendment of the Temporary Import Permit for raw gold to re-export finished products."

"2. Processing contract for jewelry and decorative gold products with foreign countries or annexes to the contract related to the amendment of the Temporary Import Permit for raw gold to re-export finished products."

"3. Report on the import situation of raw gold, production, and export of jewelry and decorative gold products of the enterprise from the date of issuance of the Temporary Import Permit for raw gold to re-export finished products to the date of submission of the application (in accordance with the form at Appendix 7 of this Circular), accompanied by a list of customs declarations for temporary import-re-export of gold and deferred deduction certificates confirmed by Customs (in accordance with the form at Appendix 7a of this Circular)."

"4. The production plan for jewelry and decorative gold products of the enterprise."

"11. Amend and supplement Clause 3 of Article 12 as follows:"

"3. Report on the implementation of exports, imports, and consumption of gold products in the domestic market within the last 12 (twelve) months prior to the reporting period (in the case of applying for an Import Permit within the annual plan) or from the beginning of the year to the reporting period (in the case of supplementing the quantity of imported raw gold) (in accordance with the form at Appendix 8 of this Circular), accompanied by a list of customs declarations for exports, imports, and deferred deduction certificates confirmed by Customs (in accordance with the form at Appendix 7a of this Circular)."

"12. Amend and supplement the name of Section 4 as follows:"

"Procedures for issuing and amending Business Licenses for buying and selling gold bars, Certificates of Eligibility for Producing Jewelry and Decorative Gold Products, Temporary Import Permits for raw gold to re-export finished products; Issuing Export and Import Permits for raw gold."

"13. Supplement Clause 1a following Clause 1 of Article 15 as follows:"

"1a. In the case of issuing a Business License for buying and selling gold bars, after receiving complete and valid documents from the enterprise or credit institution, the State Bank of Vietnam will notify the provincial or municipal branch of the State Bank to check the legal documents proving the ownership or lawful right to use the business location for the enterprise and the equipment necessary for conducting the buying and selling of gold bars at the registered business location. Within seven working days from the date of receipt of the notification from the State Bank of Vietnam, the provincial or municipal branch of the State Bank will report the results of the inspection to the State Bank of Vietnam (Department of Foreign Exchange Management)."

"14. Supplement Article 15a following Article 15 as follows:"

"Article 15a. Procedures for Amending a Business License for Buying and Selling Gold Bars."

"1. When there is a change in the information about the enterprise on the Business License for Buying and Selling Gold Bars, or a change in the business location for buying and selling gold bars, the enterprise or credit institution must follow the procedures for amending the Business License for Buying and Selling Gold Bars as stipulated in Clauses 2, 3, and 4 of this Article."

"2. In the case of changing the information about the enterprise on the Business License for Buying and Selling Gold Bars:"

"a) The enterprise shall submit one set of documents in accordance with Article 9a of this Circular to the State Bank of Vietnam;"

"b) Within fifteen working days from the date of receipt of complete and valid documents, the State Bank of Vietnam shall issue a Decision to Amend the Business License for Buying and Selling Gold Bars;"

"3. In the case of changing the name or address of the business location for buying and selling gold bars that has been licensed, or adding a new business location for buying and selling gold bars:"

"a) The enterprise or credit institution shall submit one set of documents in accordance with Article 9a of this Circular directly or by mail to the State Bank of Vietnam;"

"b) After receiving complete and valid documents from the enterprise or credit institution, the State Bank of Vietnam will notify the provincial or municipal branch of the State Bank to check the legal documents proving the ownership or lawful right to use the business location for the enterprise and the equipment necessary for conducting the buying and selling of gold bars at the proposed additional business location or the business location after the change. In the case of changing the name of the business location for buying and selling gold bars, the provincial or municipal branch of the State Bank will not check the equipment necessary for conducting the buying and selling of gold bars;"

"c) Within seven working days from the date of receipt of the notification from the State Bank of Vietnam, the provincial or municipal branch of the State Bank will report the results of the inspection to the State Bank of Vietnam (Department of Foreign Exchange Management);"

"d) The State Bank of Vietnam will issue a Decision to Amend the Business License for Buying and Selling Gold Bars or send a notice of non-approval to the enterprise, credit institution, and the provincial or municipal branch of the State Bank. The time limit for issuing the Decision or sending the notice of non-approval is fifteen days from the date of receipt of complete and valid documents in the case of changing the name of the business location, and thirty working days from the date of receipt of complete and valid documents in the case of changing the address of the business location."

4. Procedure for requesting termination of gold bullion trading activities at locations already licensed

a) Enterprises and credit institutions submit directly or send via postal service a written request to terminate gold bullion trading activities at locations already licensed to the State Bank of Vietnam;

b) Within 15 (fifteen) working days from the date of receiving complete valid files, the State Bank of Vietnam issues a Decision to amend the Gold Bullion Trading License for enterprises and credit institutions.

5. The Decision to amend the Gold Bullion Trading License is an inseparable part of the Gold Bullion Trading License.”

b) The proportion of foreign investor's capital shall not exceed thirty percent of the charter capital."

“Article 16. Procedures for issuing and amending Certificates of Eligibility for Producing Jewelry and Artistic Gold Products; Temporary Import Permits for Gold Raw Materials for Re-exporting Products

1. Enterprises wishing to produce jewelry and artistic gold products and enterprises wishing to import gold raw materials for processing jewelry and artistic gold products for foreign entities shall submit directly or send via postal service one set of documents as prescribed in Article 8 and Article 11 of this Circular to the State Bank branch in the province or city where the enterprise's headquarters is located.

2. When there are changes related to the contents of the Certificate of Eligibility for Producing Jewelry and Artistic Gold Products and the Temporary Import Permit for Gold Raw Materials for Re-exporting Products, the enterprise must carry out procedures to amend these certificates and permits. The enterprise shall submit directly or send via postal service one set of documents as prescribed in Article 8a and Article 11a of this Circular to the State Bank branch in the province or city where the enterprise's headquarters is located.

3. For the procedure of issuing the Certificate of Eligibility for Producing Jewelry and Artistic Gold Products, based on the provisions regarding conditions, documents, and procedures stipulated in Decree No. 24/2012/NĐ-CP, in this Circular, and the results of actual inspections of the facilities and equipment serving the production of jewelry and artistic gold products by the enterprise, within 30 (thirty) working days from the date of receiving complete valid files, the Director of the State Bank branch in the province or city will issue or refuse to issue (with clear reasons) the Certificate of Eligibility for Producing Jewelry and Artistic Gold Products (in accordance with Form 16 of this Circular).

4. For the procedure of issuing the Temporary Import Permit for Gold Raw Materials for Re-exporting Products, based on the provisions regarding conditions, documents, and procedures stipulated in Decree No. 24/2012/NĐ-CP and in this Circular, within 30 (thirty) working days from the date of receiving complete valid files, the Director of the State Bank branch in the province or city will issue or refuse to issue (with clear reasons) the Temporary Import Permit for Gold Raw Materials for Re-exporting Products (in accordance with Form 17 of this Circular). The validity period of the Temporary Import Permit for Gold Raw Materials for Re-exporting Products is determined based on the processing contract for jewelry and artistic gold products and is a maximum of 12 (twelve) months from the date of issuance. The re-exporting of products must be carried out within the validity period of the permit. The quantity of imported gold raw materials is determined based on the processing contract and the production plan for jewelry and artistic gold products of the enterprise.

5. For the procedure of amending the Certificate of Eligibility for Producing Jewelry and Artistic Gold Products, based on the provisions regarding conditions for producing jewelry and artistic gold products stipulated in Decree No. 24/2012/NĐ-CP, in this Circular, and the results of actual inspections of the facilities and equipment serving the production of jewelry and artistic gold products by the enterprise (in cases of changes in production locations), within 15 (fifteen) working days from the date of receiving complete valid files, the State Bank branch in the province or city will review and issue a Decision to Amend the Certificate of Eligibility for Producing Jewelry and Artistic Gold Products (in accordance with Form 21 of this Circular). This amendment decision is an inseparable part of the Certificate of Eligibility for Producing Jewelry and Artistic Gold Products.

6. For the procedure of amending the Temporary Import Permit for Gold Raw Materials for Re-exporting Products, based on the amended contract and the provisions of this Circular, within 30 (thirty) working days from the date of receiving complete valid files, the Director of the State Bank branch in the province or city will issue or refuse to issue (with clear reasons) a Decision to Amend the Temporary Import Permit for Gold Raw Materials for Re-exporting Products (in accordance with Form 21 of this Circular). In cases of amending the validity period of the permit, the amended validity period is determined based on the amended processing contract and is a maximum of 12 (twelve) months from the date of initial issuance. In cases of amending the quantity of imported gold raw materials, the amended quantity is determined based on the processing contract, the contract annex, and the production plan for jewelry and artistic gold products of the enterprise.”

16. Amend and supplement Article 17 as follows:

“Article 17. Procedures for Issuing Import Permits for Raw Gold for Jewelry and Artisanal Gold Production

1. Enterprises that need to import raw gold for jewelry and artisanal gold production shall submit directly or send via postal service two (2) sets of documents specified in Article 10 of this Circular to the State Bank of Vietnam branch in the province/city to obtain an import permit for raw gold.

2. Within twenty (20) working days from the date of receiving complete and valid documents from the enterprise, the State Bank of Vietnam branch in the province/city shall forward the application file for consideration of issuing an import permit for raw gold to the State Bank of Vietnam (Department of Foreign Exchange Management). The file includes:

a) A document from the State Bank of Vietnam branch in the province/city expressing its opinion on whether the enterprise meets the conditions stipulated in Article 3 of this Circular, including compliance with laws on quality management of jewelry and artisanal gold circulating in the market and the consistency between the enterprise's production plan for jewelry and artisanal gold and its import needs;

b) The enterprise’s application for a permit.

3. Within seventeen (17) working days from the date of receipt of the file from the State Bank of Vietnam branch in the province/city, the State Bank of Vietnam shall issue a notification approving or rejecting the permit and send it to the State Bank of Vietnam branch in the province/city.

4. Within three (3) working days from the date of receipt of the notification from the State Bank of Vietnam, the Director of the State Bank of Vietnam branch in the province/city shall issue or reject (with clear reasons) the import permit for raw gold for jewelry and artisanal gold production (in accordance with Form 15 of this Circular).

5. The validity period of the import permit for raw gold for jewelry and artisanal gold production shall be determined based on the enterprise's production plan for jewelry and artisanal gold and shall not exceed twelve (12) months from the date of issuance.

6. Quarterly or when necessary, based on reports from enterprises as stipulated in Clause 3, Article 20 of this Circular, the State Bank of Vietnam branch in the province/city shall review and verify relevant documents related to the import of raw gold for jewelry and artisanal gold production.

17. Amend and supplement Clause 1 of Article 18 as follows:

"1. Documents and materials in the file specified in Section 3 of this Circular must be original or certified copies issued from the original book or certified copies in accordance with the provisions of the law or copies presented together with the original for verification. In cases where the applicant submits certified copies presented together with the original for verification, the verifier is responsible for confirming the accuracy of the copy compared to the original."

18. Supplement Section 4a after Section 4 as follows:

"Section 4a

FILES AND PROCEDURES FOR TERMINATING BUSINESS OPERATIONS

IN GOLD BUYS AND SELLS AND PRODUCTION OF JEWELRY AND ARTISANAL GOLD

Article 18a. Files and procedures for terminating business operations in gold buys and sells

1. In case an enterprise or credit organization voluntarily discontinues its trading activities in gold bars

a) The enterprise or credit organization shall submit to the State Bank of Vietnam a dossier including:

(i) A document requesting the voluntary termination of business operations in gold buys and sells, specifying the reasons;

(ii) Original Business License for gold buys and sells of the enterprise or credit institution;

(iii) Original documents that are integral parts of the Business License for gold buys and sells of the enterprise or credit institution (if any);

b) Within fifteen (15) working days from the date of receiving complete and valid files from the enterprise or credit institution, the Governor of the State Bank of Vietnam shall issue a Decision terminating the business operations in gold buys and sells of the enterprise or credit institution (in accordance with Form 19 of this Circular).

2. In case an enterprise or credit organization is required to discontinue its trading activities in gold bars

a) Based on inspection and supervision results or proposals from competent state agencies, the Department of Foreign Exchange Management shall submit to the Governor of the State Bank of Vietnam for issuing a Decision terminating business operations in gold buys and sells (in accordance with Form 19 of this Circular);

b) Within a maximum of five (5) working days from the date of receipt of the State Bank of Vietnam's Decision on terminating business operations in gold buys and sells, the enterprise or credit institution shall return the original Business License for gold buys and sells and the original documents that are integral parts of the license (if any), and simultaneously terminate business operations in gold buys and sells.

Article 18b. Files and procedures for terminating business operations in jewelry and artisanal gold production

1. In case an enterprise voluntarily discontinues its production activities of jewelry and art gold

a) The enterprise shall submit to the State Bank of Vietnam branch in the province/city where the enterprise is headquartered a file including:

(i) A document requesting the voluntary termination of business operations in jewelry and artisanal gold production, specifying the reasons;

(ii) Original Certificate of Eligibility for jewelry and artisanal gold production of the enterprise;

(iii) Original documents that are integral parts of the Certificate of Eligibility for jewelry and artisanal gold production of the enterprise (if any);

b) Within fifteen (15) working days from the date of receiving complete and valid files, the Director of the State Bank of Vietnam branch in the province/city shall issue a Decision terminating business operations in jewelry and artisanal gold production of the enterprise (in accordance with Form 20 of this Circular).

2. In case an enterprise is required to discontinue its production activities of jewelry and art gold

a) Based on inspection and supervision results or proposals from competent state agencies, the Director of the State Bank of Vietnam branch in the province/city shall issue a Decision terminating business operations in jewelry and artisanal gold production of the enterprise (in accordance with Form 20 of this Circular);

b) Within a maximum of five (5) working days from the date of receipt of the State Bank of Vietnam branch in the province/city's Decision on terminating business operations in jewelry and artisanal gold production, the enterprise shall return the original Certificate of Eligibility for jewelry and artisanal gold production and the original documents that are integral parts of the certificate (if any), and simultaneously terminate business operations in jewelry and artisanal gold production.

19. Amend and supplement Article 19 as follows:

“Article 19. Reporting Obligations of the State Bank Branches in Provinces and Cities

1. Quarterly and annually, the State Bank of Vietnam branch in the province/city shall compile and report to the Governor of the State Bank of Vietnam (through the Department of Foreign Exchange Management) the situation of managing gold business activities in the area (in accordance with Form 12 of this Circular).

2. Quarterly, the State Bank of Vietnam branch in provinces and cities shall report to the State Bank of Vietnam (Department of Foreign Exchange Management) on the situation regarding issuance, recovery, and adjustment of certificates of eligibility for manufacturing jewelry and decorative gold products in the preceding month (in accordance with Form 12a attached hereto), along with copies of such certificates, decisions on adjusting certificates of eligibility for manufacturing jewelry and decorative gold products, and decisions on recovering certificates of eligibility for manufacturing jewelry and decorative gold products.

3. Quarterly and annually, the State Bank of Vietnam branch in provinces and cities shall compile and report to market management agencies and tax authorities on the situation regarding purchases of raw gold by enterprises within their jurisdiction in the preceding month for coordinated monitoring and inspection.

4. When issuing import permits for raw gold for the production of jewelry and decorative gold products, or when issuing or adjusting temporary import permits for raw gold for re-exporting products, the State Bank of Vietnam branch in provinces and cities shall send one copy to the State Bank of Vietnam (Department of Foreign Exchange Management).

5. The deadlines for submitting periodic reports as stipulated in Clause 1, 2, and 3 of this Article are as follows:

a) For monthly reports: the tenth day of the following month;

b) For quarterly reports: the twentieth day of the first month of the following quarter;

c) For annual reports: the twentieth day of January of the following year.”

20. Amend and supplement Article 20 as follows:

“Article 20. Reporting Responsibilities of Enterprises and Credit Institutions Engaged in Gold Trading

1. On a daily, monthly, or annual basis, or as necessary, enterprises and credit institutions that have been granted licenses for trading in gold bars shall report to the State Bank of Vietnam on the situation of buying and selling gold bars. Daily reports shall be sent to the State Bank of Vietnam (Department of Foreign Exchange Management) in accordance with Form 10a attached hereto. Monthly and annual reports shall be sent to the State Bank of Vietnam (Department of Foreign Exchange Management, Banking Inspection and Supervision Agency) and the State Bank of Vietnam branch in provinces and cities in accordance with Form 10 attached hereto.

2. On a quarterly or annual basis, or as necessary, enterprises engaged in gold trading shall report to the State Bank of Vietnam branch in provinces and cities on the situation of gold trading in accordance with the following provisions:

a) Enterprises that have been granted certificates of eligibility for manufacturing jewelry and decorative gold products shall report on their production activities (in accordance with Form 11 attached hereto); Report on compliance with legal regulations on measurement in gold trading and quality management of jewelry and decorative gold products circulating in the market (in accordance with Form 22 attached hereto);

b) Enterprises engaged in gold trading that have contracts for processing jewelry and decorative gold products for foreign countries and have been granted permits for temporarily importing raw gold for re-exporting products shall report on the situation of importing raw gold, producing, and exporting jewelry and decorative gold products (in accordance with Form 7 attached hereto).

3. On a monthly, quarterly, or annual basis, or as necessary, enterprises that have been granted permits for importing raw gold for manufacturing jewelry and decorative gold products shall report to the State Bank of Vietnam branch in provinces and cities on the implementation of importing raw gold for manufacturing jewelry and decorative gold products, production, and consumption of jewelry and decorative gold products made from imported raw gold (in accordance with Form 6 attached hereto).

4. The deadlines for submitting periodic reports as stipulated in Clause 1, 2, and 3 of this Article are as follows:

a) For daily periodic reports: 14:00 on the next working day;

b) For monthly periodic reports: the fifth day of the following month;

c) For quarterly periodic reports: the fifteenth day of the first month of the following quarter;

d) For annual periodic reports: the fifteenth day of January of the following year.

5. Within five working days from the end of the contract for processing jewelry and decorative gold products for foreign countries, enterprises engaged in gold trading that have such contracts and have been granted permits for temporarily importing raw gold for re-exporting products shall report to the State Bank of Vietnam branch in provinces and cities on the implementation of the contract, accompanied by a liquidity statement of the contract with confirmation by customs.

6. In cases where the contents of the report as stipulated in Clause 1 of this Article are regulated under the statistical reporting system applicable to credit institutions, credit institutions shall submit reports in accordance with the statistical reporting system applicable to credit institutions.”

21. Supplement the annexes attached to Circular 16/2012/TT-NHNN with the following annexes: Annex 1a, Annex 3a, Annex 3b, Annex 7a, Annex 10a, Annex 12a, Annex 18, Annex 19, Annex 20, Annex 21, Annex 22.

Article 2.

1. Repeal Clause 1 of Article 4 of Circular 16/2012/TT-NHNN.

2. Replace the phrase "customs declaration form" with the phrase "list of customs declaration forms" in Clause 4 of Article 10, Clause 5 of Article 13, Clause 4 of Article 14, Annex 8, and Annex 9 of Circular 16/2012/TT-NHNN.

3. Replace Annexes 6, 7, 10, 11, 12, 13, 16, and 17 attached to Circular 16/2012/TT-NHNN with Annexes 6, 7, 10, 11, 12, 13, 16, and 17 attached to this Circular.

Article 3. Implementation Provisions:

1. This Circular takes effect from February 15, 2016.

2. The Director of the Office, the Head of the Foreign Exchange Management Department, the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam branches in provinces and centrally governed cities, the Chairmen of the Management Boards, the Chairmen of the Member Councils, and the General Directors (Directors) of credit organizations and businesses engaged in gold trading shall be responsible for organizing the implementation of this Circular./.