Decision No. 50/2010/QD-TTg on the issuance of mechanisms for handling risky debts at the Vietnam Social Policy Bank

Decision No. 50/2010/QD-TTg of the Government Chairman promulgates mechanisms for handling risky debts at the Vietnam Social Policy Bank, effective from September 10, 2010. This decision replaces previous regulations and provides specific guidance on how to handle debts at risk due to objective reasons of borrowers.

适用范围

The Vietnam Social Policy Bank, competent authorities, Minister of Finance, Heads of Ministries equivalent to Ministries, Heads of agencies under the Government, Chairmen of People's Committees of provinces and centrally governed cities, Chairman of the Board of Directors and General Director of the Vietnam Social Policy Bank.

要点

• The Vietnam Social Policy Bank shall handle risky debts due to objective reasons of borrowers according to the provisions set forth in the Regulation issued together with this Decision.
• Competent authorities shall examine and handle risky debts due to objective reasons of borrowers before September 10, 2010.
• The Minister of Finance shall be responsible for guiding the implementation of this Decision.
• The Government Chairman, ministries equivalent to ministries, Heads of agencies under the Government, Chairmen of People's Committees of provinces and centrally governed cities, Chairman of the Board of Directors and General Director of the Vietnam Social Policy Bank shall be responsible for implementing this Decision.
• This Decision takes effect from September 10, 2010 and replaces Decision No. 69/2005/QD-TTg.