Circular No. 69/2023/TT-BTC Amending and Supplementing Certain Articles of Circular No. 57/2021/TT-BTC dated July 12, 2021, issued by the Minister of Finance, concerning the roadmap for restructuring the stock trading market, bond trading market, derivatives securities trading market, and other types of securities trading markets.

CIRCULAR

AMENDMENTS AND SUPPLEMENTS TO CERTAIN ARTICLES OF CIRCULAR NO. 57/2021/TT-BTC DATED JULY 12, 2021 ISSUED BY THE MINISTER OF FINANCE ON THE TIMETABLE FOR REORGANIZING THE STOCK MARKET, BOND MARKET, DERIVATIVE SECURITIES MARKET, AND OTHER TYPES OF SECURITIES MARKETS MONTH 7 YEAR 2021 OF THE MINISTER OF FINANCE REGULATING THE TIMETABLE FOR REORGANIZING THE STOCK MARKET, BOND MARKET, DERIVATIVE SECURITIES MARKET, AND OTHER TYPES OF SECURITIES MARKETS SECURITIES, MARKET DERIVATIVE SECURITIES TRADING AND MARKET FOR TRADING OTHER TYPES OF SECURITIES

On the basis of Securities Law dated November 26, 2019;

Decree No. Decree No. 155/2020/NĐ-CP dated December 31, 2020 of the Government detailing the implementation of certain provisions of Securities Law;

Decree No. Decree No. 14/2023/NĐ-CP dated April 20, 2023 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decision No. Decision No. 37/2020/QĐ-TTg dated December 23, 2020 of the Prime Minister on the establishment, organization, and operation of the Vietnam Stock Exchange;

At the proposal of the Chairman of the State Securities Commission;

The Minister of Finance issues this Circular amending and supplementing certain Articles of Circular No. Circular No. 57/2021/TT-BTC dated July 12, 2021 of the Minister of Finance regulating the timetable for reorganizing the stock market, bond market, derivative securities market, and other types of securities markets.

Article 1. Amend and supplement certain articles of Circular No. 57/2021/TT-BTC dated July 12, 2021 of the Minister of Finance regulating the timetable for reorganizing the stock market, bond market, derivative securities market, and other types of securities markets.

2. Amending and supplementing Clause 1, Clause 2, and Clause 4 of Article 6 as follows:

"1. By no later than December 31, 2026, the Ho Chi Minh City Stock Exchange shall unify the organization of the stock market, fund certificates, and warrant markets for listed securities, the stock market of organizations registered for trading in accordance with the Securities Law and guiding documents."

2. Amend Points c, d, đ, e of Clause 2, Article 4 as follows:

"c) Before July 1, 2025: The Ho Chi Minh City Stock Exchange shall accept and review the listing registration files of new stocks of organizations meeting the listing conditions stipulated in Decree No. 155/2020/NĐ-CP dated December 31, 2020 detailing the implementation of certain provisions of the Securities Law (hereinafter referred to as Decree No. 155/2020/NĐ-CP) and having a subscribed charter capital at the time of listing registration of 120 billion VND or more;"

d) From July 1, 2025: The Ho Chi Minh City Stock Exchange shall accept and review the listing registration files of new stocks of organizations meeting the listing conditions stipulated in Decree No. 155/2020/NĐ-CP;

đ) By no later than December 31, 2025: The Ho Chi Minh City Stock Exchange shall complete the acceptance of shares of organizations listed from the Hanoi Stock Exchange;

e) By no later than December 31, 2026: The Ho Chi Minh City Stock Exchange shall complete the acceptance of shares of organizations registered for trading from the Hanoi Stock Exchange."

3. Amend Points b, c, d, e of Clause 3, Article 4 as follows:

"b) Before July 1, 2025: The Hanoi Stock Exchange shall accept and review the listing registration files of new stocks of organizations meeting the listing conditions stipulated in Decree No. 155/2020/NĐ-CP and having a subscribed charter capital at the time of listing registration of 30 billion VND or more;

c) From July 1, 2025: The Hanoi Stock Exchange shall not accept the listing registration files of new stocks of organizations;

d) By no later than December 31, 2025: The Hanoi Stock Exchange shall complete the transfer of shares of organizations listed from the Hanoi Stock Exchange to the Ho Chi Minh City Stock Exchange;

e) By no later than December 31, 2026: The Hanoi Stock Exchange shall complete the transfer of shares of organizations registered for trading from the Hanoi Stock Exchange to the Ho Chi Minh City Stock Exchange. After completing the transfer of shares of organizations registered for trading from the Hanoi Stock Exchange to the Ho Chi Minh City Stock Exchange, the Hanoi Stock Exchange shall not accept new trading registration files of organizations."

4. Amend Clause 2, Article 7 as follows:

"2. In cases where organizations have submitted listing registration files for stocks to the Hanoi Stock Exchange before July 1, 2025 but have not been approved for listing, the Hanoi Stock Exchange shall be responsible for transferring the listing registration files of organizations to the Ho Chi Minh City Stock Exchange before July 8, 2025 so that the Ho Chi Minh City Stock Exchange can continue to process the listing registration files of organizations in accordance with the law."

Article 2. Transitional Provisions

In cases where the listing registration files accepted by the Ho Chi Minh City Stock Exchange of organizations with a subscribed charter capital at the time of listing registration under 120 billion VND but not yet approved for listing up to the date this Circular takes effect, the Ho Chi Minh City Stock Exchange shall be responsible for transferring the listing registration files of organizations to the Hanoi Stock Exchange for continued processing of the listing registration files in accordance with the law.

The deadline for transferring the registration listing dossier is no later than five working days from the date this Circular takes effect.

Article 3. Implementation Provisions

1. This Circular takes effect from December 30, 2023.

2. In cases where the legal normative documents cited for application in this Circular are amended, supplemented, or replaced, they shall be applied according to the amended, supplemented, or replaced documents.

3. The Vietnam Stock Exchange, the Hanoi Stock Exchange, the Ho Chi Minh City Stock Exchange, listed organizations, organizations registered for trading, public companies, and other related organizations and individuals are responsible for implementing this Circular./.