Decision No. 425/2005/QD-NHNN on amending Clause 3, Article 7 and Clause 3, Article 18 of the Regulation on the organization and implementation of tasks related to State foreign exchange reserves management issued together with Decision No. 653/2001/QD-NHNN dated May 17, 2001 of the Governor of the State Bank of Vietnam.

Pursuant to …;

Amending Clause 3, Article 7 and Clause 3, Article 18 of the Regulation on the organization and implementation of tasks related to State foreign exchange reserves management issued pursuant to Decision No. 653/2001/QĐ-NHNN dated May 17, 2001 of the Governor of the State Bank of Vietnam Pursuant to Decree No. 86/1999/NĐ-CP dated August 30, 1999 of the Government on State foreign exchange reserves management;At the proposal of the Head of the Foreign Exchange Management Department and the Director of the Trading Department of the State Bank of Vietnam.

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;

Pursuant to the Law on Issuing Legal Normative Documents 1996; the Law Amending and Supplementing Certain Provisions of the Law on Issuing Legal Normative Documents 2002;

Pursuant to Decree No. 52/2003/ND-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank;

To amend certain contents of the Regulation on the organization and implementation of tasks related to State foreign exchange reserves management issued pursuant to Decision No. 653/2001/QĐ-NHNN dated May 17, 2001 of the Governor of the State Bank of Vietnam as follows:

1. Clause 3, Article 7 shall be amended as follows:

Pursuant to …;

Article 1. A"3. Investment decision authority:

a. The Director of the Trading Department is authorized to decide on investments with a value equivalent to less than 30,000,000 US dollars (thirty million US dollars);

b. The Head of the Management Board decides on investments with a value equivalent to 30,000,000 US dollars (thirty million US dollars) or more."

2. Clause 3, Article 18 shall be amended as follows:

"3. Decide on investment plans and investments with a value equivalent to 30,000,000 US dollars (thirty million US dollars) or more."

The Head of the Management Board for State foreign exchange reserves, the Heads of the Foreign Exchange Management Department, Monetary Policy Department, General Supervision Department, Accounting-Finance Department, Office Director, Legal Affairs Department are responsible for implementing this decision.

   (Signed)

Article 2. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

Article 3.   Le Duc Thuy