Decree No. 61/SL in 1947 prohibits the export or import of capital without permission from the Minister of Finance or authorized agency, and prescribes penalties for violations.
Scope of application
Individuals, businesses, and organizations involved in exporting or importing capital
Key points
- Any person wishing to export or import capital must obtain permission from the Minister of Finance or an authorized agency (Article 1)
- Types of assets considered as capital include currency, foreign exchange receipts, bank receipts, and private receipts (Article 2)
- Violators will be fined three times the amount of intended exported or imported capital or imprisoned for one to two years; repeat offenders may face imprisonment from six months to five years (Article 3)
- Procedures for inspection, acceptance, and prosecution of violations are within the jurisdiction of the Minister of Finance (Article 3)
- The Minister of Finance shall issue a decree detailing the implementation of this Decree (Article 4)
🌐 Social impact of this document
- To help control capital inflows and outflows, prevent financial market manipulation
- Increase burden on individuals and businesses due to the need for permission and penalties for violations
❓ Frequently asked questions
What permit is required to export or import capital?
Permission from the Minister of Finance or an authorized agency is required.
Which assets are considered capital under this Decree?
Includes currency, foreign exchange receipts, bank receipts, and private receipts.
What penalties apply for violating this Decree?
A fine three times the amount of intended exported or imported capital or imprisonment from one to two years; repeat offenders may face imprisonment from six months to five years.
Who is responsible for managing and prosecuting violations?
Within the jurisdiction of the Minister of Finance.
Are there any detailed regulations regarding the implementation of this Decree?
The Minister of Finance will issue a decree detailing its implementation.
Full text
DECREE-LAW
OF THE CHAIRMAN OF THE GOVERNMENT OF THE DEMOCRATIC REPUBLIC OF VIETNAM
NUMBER 61 DATED JULY 5, 1947
THE CHAIRMAN OF THE GOVERNMENT
CONSIDERING the current situation;
AT THE REQUEST of the Minister of Finance;
AFTER CONSULTING with the Standing Committee of the National Assembly and after reaching an agreement in the Council of Ministers;
ENACTS:
Article 1
From now on, it is prohibited to export or import capital without permission from the Minister of Finance or a body authorized by the Minister of Finance.
Article 2
The following items are considered as capital: foreign currencies, Indochinese and Vietnamese (paper money or gold coins, silver dollars), exchange receipts, bank certificates, private certificates, etc...
Article 3
Anyone violating this decree-law shall be punished:
1- A fine of three times the amount of capital intended for export or import,
2- Imprisonment from one month to two years, or either of these penalties.
For repeat offenses, imprisonment may range from six months to five years.
The inspection and prosecution of violations of this decree-law shall follow the procedures set forth in the current customs law, except that negotiation is always within the jurisdiction of the Minister of Finance.
Article 4
A decree by the Minister of Finance will establish the details for implementing this decree-law.
Article 5
This decree-law shall take effect immediately in accordance with Article 14 of the Decree-Law dated October 10, 1945.
Article 6
The Ministers of Finance, Interior, and Justice are hereby instructed to enforce this decree-law.
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