Chapter I
GENERAL PROVISION
Article 1. Governing scope
1. This Decree provides for the issuance of the Government's Bonds, Bonds guaranteed by the Government and Bonds of local Government denominated in Vietnam Dong and in foreign currency within the territory of the Socialist Republic of Vietnam.
2. This Decree shall not govern:
a. The Bonds issued by the Credit Institutions in accordance with provisions of the Law on Credit Institutions;
b. The Bonds issued by enterprises under the method of self-borrowing, self-payment in accordance with the Law on the State owned enterprises and the Law on Enterprises;
Article 2. Interpretation
1. Government's Bond shall be a kind of debt securities, which are issued by the Government with term face value, interest and confirmation by the Government of its repayment obligation to Bonds' owners.
2. Bond guaranteed by the Government shall be a kind of debt securities, which are issued by enterprises to mobilize capital for projects designated by the Prime Minister, for which investors are guaranteed by the Government of the timely payment of issuing organizations. In case where issuing organizations fail to perform their repayment obligation (principals, interests) at the maturity date, the Government shall be responsible for the performance of the debt repayment in lieu of issuing organizations.
3. The Bond of local Government shall be a kind of debt securities, which are issued by the provincial people's committee with term, face value and confirmation by local Governments of their debt repayment obligation to Bonds' owners.
4. Issuing organization shall be a legal entity, which borrows funds by issuing Bonds in accordance with provisions of this Decree.
5. Bond issue shall mean the sale of Bonds to buying subjects.
6. Bond placement shall be an act of direct delivery of Bonds to and collection of funds from each buying subject by the issuing organization.
7. Underwriting shall mean a process whereby an underwriting organization assists the issuing organizations in completing procedures prior to the issue of Bonds to the securities market, distribute Bonds to investors, undertake to buy Bonds for resale or to buy the remaining bonds that are not yet distributed.
8. Bonds auction shall be the selection of organizations, which or individuals participating in the auction, who fully satisfy requirements of the issuing organization.
9. Issuing agents shall mean the entrustment made by the issuing organization to another organization to perform the sale of Bonds to investors.
10. Bonds custody shall mean the deposit made by Bond's owners of their Bonds at an organization, which is permitted to preserve, maintain Bonds so that such organization performs rights relating to the Bonds for their owners.
11. Agent for Bonds payment shall mean the authorization made by an issuing organization to another organization to perform the payment of Bond principals and interests at the due date.
12. Mortgage shall mean the delivery of Bonds by their owners to an organization or individual to hold for the security of the performance of their civil obligations.
Article 3. Bond issuer
1. The issuer of Government's Bonds shall be the Government;
2. The issuer of Bonds guaranteed by the Government shall be enterprises;
3. The issuer of local Government's Bonds shall be provincial People's Committees.
Article 4. Classification of Bonds
1. Government Bonds shall include:
a. Treasury Bills;
b. Treasury Bonds;
c. Bonds for central Government's projects;
d. Investment Bonds;
dd. Foreign currency Bonds;
e. Government's Bonds for the construction of Motherland.
2. Bonds guaranteed by the Government.
3. Local Government's Bonds.
Article 5. Issue and payment currency
1. Bonds shall be issued and paid in Vietnam Dong or freely convertible foreign currencies;
2. The issuance of foreign currency Bonds shall only be applicable to cases, which are provided for in Section V, Chapter II of this Decree.
3. Currency used for the payment of Bonds shall be the currency, which is used for issuance.
Article 6. Forms of issuance
Bonds shall be issued in form of non-bearer or bearer certificates or book-entry.
Article 7. Face value of bonds
1. The face value of Bonds, which are issued and paid in Vietnam Dong, shall be 100,000 Dong at the minimum. The Minister of Finance shall provide for specific face value.
2. The face value of Bonds, which are issued and paid in foreign currencies, shall be stipulated specifically for each issue.
Article 8. Bonds buying subjects
Bonds buying subjects shall be Vietnamese organizations, individuals or Vietnamese, who permanently reside in foreign countries, foreign organizations, which and individuals, who are lawfully working and living in Vietnam. Organizations of Vietnam shall not be permitted to use sources of expenditure granted by the State Budget to buy Government's Bonds.
Article 9. Fees for the issue, payment of Bonds
Organizations that underwrite the bonds issue, provide auction services, act as agents, undertake the entrustment in organizing the issue and payment of Bonds shall be entitled to fees in accordance with provisions of the Finance Ministry.
Article 10. Underwriting organizations, issuing agents
Organizations that underwrite or act as agents for cases of bonds issue under the method of underwriting or issuing agents shall be Securities Companies, Investment Funds, Finance Companies, Banks, which are legally operating in Vietnam.
Article 11. Listing and transaction
1. Government's Bonds, local Government's Bonds shall be bought, sold in the monetary market or discounted, mortgaged at the State Bank in accordance with provisions of applicable laws.
2. Government's Bonds, Bonds guaranteed by the Government and local Government's Bonds shall be listed and transacted in the securities market in accordance with provisions of applicable laws.
Article 12. Bonds custody and deposit
Bond's owners shall be entitled to make the custody of their Bonds at organizations permitted to engage in securities custody, or to deposit their Bonds at the State Treasury, commercial banks for preservation. Fees for the custody and deposit of Bonds shall be provided for by the Finance Ministry.
Article 13. Redemption of Bonds by issuing organizations
Issuing organizations shall have the right to redeem Bonds, which have been issued prior to their maturity.
Article 14. Interests of Bond's owners
1. To be guaranteed by the issuing subjects of the full and timely payment of Bond principals and interests upon their maturity.
2. To be entitled to use their Bonds for sale, presentation, donation, inheritance or mortgage, discount
3. To be exempted from income tax for incomes from Bonds in accordance with provisions of applicable laws.
Article 15. Limits for repayment and circulation of Bonds
Bonds shall not be used for replacement of money in circulation or performance of financial obligations toward the State Budget.
Article 16. Lost or damaged Bonds
Counterfeit Bonds, non-bearer Bonds, which are lost or torn to pieces, damaged, the shape and content of which are not retained, shall not be repaid.
Bearer Bonds, which are lost, torn to pieces, damaged, shall be repaid by the issuing organizations upon their maturity if persons who lost the Bonds can prove their ownership over their bonds, and these bonds have not yet been taken advantage of for repayment.
Article 17. Counterfeiting or taking advantage of Bonds
All acts of misusing or counterfeiting Bonds shall be dealt with in accordance with applicable laws
Tìm kiếm
Nghị định 141/2003/NĐ-CP về việc phát hành trái phiếu Chính phủ, trái phiếu được Chính phủ bảo lãnh và trái phiếu chính quyền địa phương (Bản Word)