Decision No. 456/2003/QD-NHNN On Amending and Supplementing Clause 1 of Article 1 of the Interbank Electronic Payment Settlement Regulations issued together with Decision No. 1557/2001/QD-NHNN dated December 14, 2001 of the Governor of the State Bank of Vietnam.

Pursuant to …;

Regarding the amendment and supplementation of Clause 1, Article 1 of the Inter-bank Electronic Payment Settlement Regulations issued together with Decision No. 1557/2001/QĐ-NHNN dated December 14, 2001 of the Governor of the State Bank of Vietnam

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;

Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating functions, tasks, powers, and organizational structure of Ministries and Ministerial-Level Agencies;

Pursuant to Decree No. 64/2001/NĐ-CP dated September 20, 2001 of the Government on payment activities through service providers;

Pursuant to Decision No. 44/2002/QĐ-TTg dated March 21, 2002 of the Prime Minister on the use of electronic documents as accounting vouchers for accounting and payment of funds by service providers;

At the proposal of the Director of the Accounting and Finance Department,

Pursuant to …;

Article 1. Amending and supplementing Clause 1, Article 1 of the "Inter-bank Electronic Payment Settlement Regulations" issued together with Decision No. 1557/2001/QĐ-NHNN dated December 14, 2001 of the Governor of the State Bank of Vietnam as follows:

"1. These regulations govern the electronic payment settlement activities through computer networks for transactions denominated in Vietnamese Dong (VND) between banks and other organizations providing payment services operating within the territory of Vietnam that have accounts opened at a unit of the State Bank of Vietnam, organized and chaired by such unit of the State Bank of Vietnam for electronic payment settlement.

a. The amount of money for inter-bank electronic payment settlement:

- For payment orders between banks within the scope of a provincial or municipal area, there is no limit on the amount.

- For inter-bank electronic payment settlement orders to be transferred to banks in different provincial or municipal areas, the maximum amount is the lower value set by the Governor of the State Bank of Vietnam for each period.

b. All debt transfers in inter-bank electronic payment settlement must be authorized in advance: member banks must sign debt transfer contracts with each other and must notify the chairing bank in writing before implementation."

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

Article 3. The Director of the Office, Heads of the Accounting and Finance Department, the Head of the Banking Information Technology Department, Heads of units under the State Bank of Vietnam, Directors of the State Bank of Vietnam Trading Departments, Directors of State Bank of Vietnam Branches in provinces and centrally governed cities, General Directors (Directors) of Banks, and Heads of other organizations providing payment services are responsible for implementing this Decision./.