Decision No. 472/2000/QD-NHNN Regarding amendments and supplements to certain points in Circular No. 02/2000/TT-NHNN7 dated February 24, 2000 guiding the implementation of Decision No. 170/1999/QD-TTg dated August 19, 1999 of the Government Prime Minister

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Regarding amendments and supplements to certain points of Circular No. 02/2000/TT-NHNN7 dated February 24, 2000 guiding the implementation of Decision No. 170/1999/QĐ-TTg dated August 19, 1999 of the Government Prime Minister on encouraging overseas Vietnamese to transfer money back to Vietnam

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1999 and the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;

Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;

Pursuant to Decision No. 170/1999/QĐ-TTg dated August 19, 1999 of the Government Prime Minister on encouraging overseas Vietnamese to transfer money back to Vietnam;

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

DECISION:

Article 1. Amend Point 2.2, Clause 2, Section II of Circular No. 02/2000/TT-NHNN7 dated February 24, 2000 of the State Bank of Vietnam guiding the implementation of Decision No. 170/1999/QĐ-TTg dated August 19, 1999 of the Government Prime Minister on encouraging overseas Vietnamese to transfer money back to Vietnam as follows:

1. Replace the application form for permission to provide foreign currency receipt and payment services (Annex I) prescribed in subpoint a with the application form prescribed in the attached Annex to this Decision.

2. Delete the phrase "competent authority" in subpoint e and amend it as follows: "the opinion of the Branch of the State Bank of Vietnam in the same province or centrally administered city regarding the economic organization providing foreign currency receipt and payment services."

Article 2. THIS DECISION SHALL TAKE EFFECT 15 DAYS FROM THE DATE OF SIGNATURE.

Article 3. The Director of the Office, the Inspector General of the State Bank of Vietnam, Heads of Departments and Bureaus related to the State Bank of Vietnam, Directors of Branches of the State Bank of Vietnam in provinces and centrally administered cities, General Directors (Directors) of credit organizations permitted to engage in foreign exchange activities, and General Directors (Directors) of economic organizations permitted to provide foreign currency receipt and payment services within their respective functions shall be responsible for implementing this Decision.

Appendix I

NAME OF ECONOMIC ORGANIZATION

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

...date month year

APPLICATION FOR PERMISSION TO PROVIDE FOREIGN CURRENCY RECEIPT AND PAYMENT SERVICES

a.Total number of economic organizations acting as agents for paying foreign currencies at the beginning of Quarter ... Year 200...:

Name of economic organization:...

Establishment decision number (if applicable)...

Issuing authority ...date ...month...year...

Business registration certificate number:...

Issuing authority ...date...month ...year

Main office located at:...

Telephone: ...fax number:

Based on the conditions for being permitted to provide foreign currency receipt and payment services stipulated by the State Bank of Vietnam, we have signed a principle agreement with the foreign counterpart on ...day...month...year (or established a representative office, branch company abroad) to provide foreign currency receipt and payment services for remitters from abroad at the following locations:

1. Address (Specify address, telephone, fax)

2.

3.

..................................

We request the State Bank of Vietnam (Department of Foreign Exchange Management) to consider granting permission to ... (name of economic organization) to provide foreign currency receipt and payment services.

We hereby commit to comply with all current regulations on foreign exchange management of the Vietnamese government and accept responsibility under the law for any violations committed by our unit.

Attached documents: General Director (Director)

- Establishment Decision (if applicable) and business registration (signed and stamped)

business registration;

- Proposal for foreign currency receipt and payment services;

- Principle agreement with foreign counterpart;

- Opinion of the State Bank of Vietnam Branch in the province or centrally administered city regarding permission to provide foreign currency receipt and payment services;