Decision No. 950/2002/QD-NHNN on supplementing and amending Article 13 of the Regulation on Revoking Licenses for Establishing and Operating People's Credit Funds and Liquidating People's Credit Funds under the supervision of the State Bank issued together with Decision No. 101/2000/QD-NHNN dated March 29, 2000.

Pursuant to …;

REGARDING THE SUPPLEMENTATION AND AMENDMENT OF THE PROVISIONS IN ARTICLE 13 OF THE REGULATIONS ON THE REVOCATION OF LICENSES FOR THE ESTABLISHMENT AND OPERATION OF RURAL CREDIT COOPERATIVES AND THE LIQUIDATION OF RURAL CREDIT COOPERATIVES UNDER THE SUPERVISION OF THE STATE BANK ISSUED PURSUANT TO DECISION NO. 101/2000/QĐ-NHNN17 DATED MARCH 29, 2000

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GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Organizations dated December 12, 1997;

Pursuant to the Cooperative Society Law dated March 20, 1996;

BASED ON THE GOVERNMENT DECREE NO. 15/CP DATED MARCH 2, 1993 ON THE TASKS, POWERS, AND RESPONSIBILITIES FOR STATE MANAGEMENT OF MINISTRIES AND GOVERNMENT AGENCIES EQUIVALENT TO MINISTRIES;

Pursuant to Decree No. 48/2001/NĐ-CP dated August 13, 2001 of the Government on the organization and operation of People's Credit Funds;

At the proposal of the Director of the Department of Cooperative Credit Organizations,

Pursuant to …;

Article 1. SUPPLEMENT AND AMEND THE PROVISIONS IN ARTICLE 13 OF THE REGULATIONS ON THE REVOCATION OF LICENSES FOR THE ESTABLISHMENT AND OPERATION OF RURAL CREDIT COOPERATIVES AND THE LIQUIDATION OF RURAL CREDIT COOPERATIVES UNDER THE SUPERVISION OF THE STATE BANK ISSUED PURSUANT TO DECISION NO. 101/2000/QĐ-NHNN17 DATED MARCH 29, 2000 OF THE GOVERNOR OF THE STATE BANK AS FOLLOWS:

"ARTICLE 13. THE MAXIMUM PERIOD FOR LIQUIDATING A RURAL CREDIT COOPERATIVE SHALL NOT EXCEED SIX MONTHS FROM THE DATE THE DECISION REVOKING THE LICENSE FOR ESTABLISHMENT AND OPERATION BECOMES EFFECTIVE. IF THE LIQUIDATION PERIOD NEEDS TO BE EXTENDED BEYOND THE MAXIMUM PERIOD, THE LIQUIDATION BOARD MUST REPORT TO THE PEOPLE'S COMMITTEE OF THE PROVINCE OR CITY AND THE STATE BANK FOR CONSIDERATION AND DECISION ON EXTENDING THE LIQUIDATION PERIOD. EACH EXTENSION PERIOD SHALL NOT EXCEED SIX MONTHS."

Article 2. THIS DECISION SHALL TAKE EFFECT 15 DAYS FROM THE DATE OF SIGNATURE.

Article 3. THE HEAD OF THE OFFICE, THE DIRECTOR OF THE DEPARTMENT OF COOPERATIVE CREDIT ORGANIZATIONS, THE HEADS OF THE UNITS RELATED TO THE STATE BANK, THE DIRECTORS OF THE STATE BANK BRANCHES IN PROVINCES AND CENTRAL CITIES, THE CHAIRPERSONS OF THE MANAGEMENT BOARDS OF RURAL CREDIT COOPERATIVES AT THE LOCAL LEVEL, AND THE RURAL CREDIT COOPERATIVES AT THE NATIONAL LEVEL ARE RESPONSIBLE FOR IMPLEMENTING THIS DECISION.