Decision No. 59/2006/QD-NHNN issues the Regulation on the Purchase and Sale of Debts by Credit Institutions, applicable to credit institutions and effective from the date of publication in the Official Gazette. This Decision replaces Decision No. 140/1999/QD-NHNN.
Scope of application
Credit institutions
Key points
- Credit institutions → are permitted to purchase and sell debts according to the regulation issued by the State Bank.
- This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
- Decision No. 140/1999/QD-NHNN is replaced by this new Decision.
🌐 Social impact of this document
- Positive impact: Enhances the activities of purchasing and selling debts by credit institutions, helping to handle bad debts more effectively.
- Negative impact: May impose additional procedural and management burdens on credit institutions.
❓ Frequently asked questions
When does this Decision apply?
This Decision takes effect fifteen days from the date of publication in the Official Gazette.
How are credit institutions permitted to purchase and sell debts?
Credit institutions are permitted to purchase and sell debts according to the regulation issued by the State Bank.
Which decision is replaced by this Decision?
Decision No. 140/1999/QD-NHNN of the Governor of the State Bank is replaced by this new Decision.
What is the duration of effectiveness of this Decision?
This Decision becomes effective from the date of publication in the Official Gazette and does not specify a specific duration.
What procedures must credit institutions follow when purchasing and selling debts?
Specific procedures for purchasing and selling debts are stipulated in the regulation issued by the State Bank. There is no detailed information about these procedures in this document.
Full text
Pursuant to …;
Issuing the Regulation on the Purchase and Sale of Debts by Credit Institutions
_________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Civil Code 2005;
Based on the Law on the State Bank of Vietnam 1997; the Law Amending and Supplementing Certain Articles of the Law on the State Bank of Vietnam 2003;
Based on the Law on Credit Institutions 1997; the Law Amending and Supplementing the Law on Credit Institutions 2004;
Pursuant to Decree No. 52/2003/ND-CP dated May 19, 2003, issued by the Government, detailing the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Credit Department,
DECISION:
Article 1. The attached to this Decision is the Regulation on the Purchase and Sale of Debts by Credit Institutions.
Article 2. This Decision takes effect 15 days from the date of publication in the Official Gazette. This Decision replaces Decision No. 140/1999/QĐ-NHNN14 dated April 19, 1999 of the Governor of the State Bank of Vietnam issuing the Regulation on the Purchase and Sale of Debts by Credit Institutions.
Article 3. The Heads of the Office, Directors of the Credit Department, Heads of relevant units under the State Bank of Vietnam, Governors of the State Bank of Vietnam branches in provinces and centrally governed cities, Chairmen of the Management Boards, General Managers (Directors) of credit institutions are responsible for implementing this Decision./.
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