This document amends the deadlines and methods for calculating deadlines in two legal regulatory documents of the State Bank of Vietnam concerning cheques and the interbank foreign exchange market, applicable to credit institutions and related entities.
要点
- The State Bank of Vietnam amends the payment validity period of a cheque from 15 days from the date of issuance according to Circular No. 07/TT-NH1 in 1996
- For spot foreign currency transactions (SPOT) at the interbank foreign exchange market, the payment deadline is two working days after the transaction day according to Decision No. 101/1999/QĐ-NHNN13
- The payment validity period of a cheque includes weekends and holidays, and is extended to the next working day if the last day falls on a weekend or holiday
- Payment deadlines for foreign currency transactions do not include weekends and holidays
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DECISION
Amending certain Articles in Circular No. 07/TT-NH1 dated December 27, 1996
and Decision No. 101/1999/QĐ-NHNN13 dated March 25, 1999 of the Governor of the State Bank
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GOVERNOR OF THE STATE BANK
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;
Pursuant to Decree No. 15-CP dated March 2, 1993 of the Government regarding tasks, powers and responsibilities for state management by Ministries and ministerial-level agencies;
Pursuant to Decision No. 188/1999/QĐ-TTg dated September 17, 1999 of the Prime Minister on implementing a 40-hour workweek system;
At the proposal of the Director of the Legal Department.
DECISION
Article 1. Amending certain provisions regarding time limits and methods for calculating time limits in some legal normative documents issued by the State Bank as follows:
1. Point 4, Part I of Circular No. 07/TT-NH1 dated December 27, 1996 guiding the implementation of the Cheque Issuance and Usage Regulation promulgated together with Decree No. 30/CP dated May 9, 1996 is amended as follows:
"The payment validity period for a cheque is 15 days from the date it is issued until it is submitted to the collecting unit. This period includes weekends and holidays.. If the last day of this period falls on a weekend or holiday, the deadline will be extended to the next working day following that weekend or holiday."
2. Clause 1, Article 13 of the Organizational Structure and Operation Regulation for the Interbank Foreign Exchange Market promulgated together with Decision No. 101/1999/QĐ-NHNN13 dated March 25, 1999 of the Governor of the State Bank is amended as follows:
"For spot foreign exchange transactions (SPOT), the payment deadline is two working days after the transaction date (excluding weekends and holidays)."
Article 2. This Decision takes effect fifteen days from its issuance date.
Article 3. The Director of the State Bank’s Office, Directors of Departments under the Legal Department, Heads of Departments and Bureaus directly under the State Bank, Governors of State Bank Branches in provinces and centrally-administered cities, Chairmen of Management Boards, General Managers (Directors) of Credit Organizations are responsible for implementing this Decision.
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