Decision No. 731/2004/QĐ-NHNN issues the Interim Regulation on Leasing Operation Activities of Financial Leasing Companies, detailing the applicable subjects, conditions, and procedures for implementing these activities.
Scope of application
Financial leasing companies
Key points
- Financial leasing companies are permitted to carry out leasing operation activities in accordance with the provisions of this Decision (Article 1).
- Leasing operation activities shall only apply to investment projects with large capital investments, long-term capital recovery periods, and high technical requirements (Article 2).
- Financial leasing companies must meet the minimum statutory capital requirement of 10 billion VND to conduct leasing operation activities (Article 3).
- The procedure for registering leasing operation activities includes submitting an application to the State Bank and obtaining a license after review (Article 4).
- Financial leasing companies must comply with regulations on risk management and internal auditing during the implementation of leasing operation activities (Article 5).
🌐 Social impact of this document
- Creating favorable conditions for financial leasing companies to expand their business operations.
- Helping to attract investment capital into large-scale, long-term, and technically demanding projects.
- Requiring companies to have strong financial capacity to ensure safety in operations.
- Strengthening state management over the leasing operation sector.
❓ Frequently asked questions
Which financial leasing companies are permitted to carry out leasing operation activities?
Only financial leasing companies meeting the minimum statutory capital requirement of 10 billion VND are permitted to do so.
For which investment projects are leasing operation activities applicable?
They apply to investment projects with large capital investments, long-term capital recovery periods, and high technical requirements.
What must a company do to obtain a license for leasing operation activities?
Submit an application to the State Bank after meeting the prescribed conditions.
Full text
|
STATE BANK OF VIETNAM VIETNAM ------------
Number: 731/2004/QĐ-NHNN |
SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness ----------------------------------
Hanoi, June 15, 2004 |
DECISIONOF THE HEAD OF THE STATE BANK
Issuing Interim Regulations on Leasing Operation Activities of Financial Leasing Companies
---------------------------
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank No. 01/1997/QH10, the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003.
Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of Ministries and Ministerial-Level Agencies;
Pursuant to Decree No. 16/2001/NĐ-CP dated May 2, 2001 of the Government on the Organization and Operation of Financial Leasing Companies;
Considering the need for leasing operation activities of financial leasing companies;
At the proposal of the Director of the Department of Banks and Non-Bank Credit Institutions;
Pursuant to …;
Article 1: These Interim Regulations on Leasing Operation Activities of Financial Leasing Companies are hereby adopted along with this Decision.
Article 2This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
Article 3The Heads of the Office, Directors of the Department of Banks and Non-Bank Credit Institutions, Heads of Units under the State Bank, Governors of the State Bank Branches in provinces and centrally-administered cities, Chairmen of the Boards of Directors and General Managers (Directors) of Financial Leasing Companies are responsible for implementing this Decision.
Download
The original file of this document is being updated. Please read the full text and check back later.
Relations map
Click a document to open. A red border = a relation that changes validity.
Translations
This document is available in the following languages: