Chapter X
IMPLEMENTATION CLAUSES
Article 309. Effect
1. This Decree comes into force from January 01, 2021.
2. This Decree supersedes:
a) The Government's Decree No. 58/2012/ND-CP dated July 20, 2012 detailing and guiding the implementation of a number of articles of the Law on Securities and the Law on Amendments to the Law on Securities;
b) The Government's Decree No. 60/2015/ND-CP dated June 26, 2015 on amendments to Decree No. 58/2012/ND-CP;
c) The Government’s Decree No. 86/2016/ND-CP dated July 01, 2016 on conditions for securities investment and business;
d) Pursuant to the Government’s Decree No. 71/2017/ND-CP dated business administration of public companies.
3. This Decree abolishes Article 13 and Article 14 of the Government’s Decree No. 151/2018/ND-CP dated November 07, 2018.
Article 310. Transition clauses
1. The public companies specified in Clause 4 Article 135 of the Law on Securities No. 54/2019/QH14 may offer shares to existing shareholders according to their holdings in the form of public securities offering specified in this Decree.
2. A public company that is following procedures for delisting may offer shares to existing shareholders according to their holdings in the form of public securities offering specified in this Decree until SSC issues the notification of delisting.
3. The regulations of Clause 2 Article 19 of this Decree will be applied after 02 years from the effective date of this Decree.
4. Public companies having treasury shares that are purchased before the effective date of the Law on Securities No. 54/2019/QH14 may sell them or use them as bonus shares in accordance with the Law on Securities No. 70/2006/QH11, which is amended by the Law on Securities No. 62/2010/QH12 and their elaborating documents. These companies must not repurchase their own shares until the previously purchased treasury shares have been settled, except the case of repurchase of shares specified in Clause 2 Article 36 of the Law on Securities No. 54/2019/QH14.
5. In case the GMS of a public company approves its delisting in accordance with Clause 4 Article 135 of the Law on Securities No. 54/2019/QH14, the company shall submit the application for delisting to SSC in accordance with Article 39 of the Law on Securities No. 54/2019/QH14 within 30 days from the day on which the approval is granted by the GMS.
6. A public company specified in Clause 5 Article 135 of the Law on Securities No. 54/2019/QH14 shall submit the application for delisting to SSC in accordance with Article 39 of the Law on Securities No. 54/2019/QH14 within 90 days from its effective date.
7. Public companies that have had their shares have been listed or registered before the effective date of the Law on Securities No. 54/2019/QH14 but that fail to satisfy the conditions that have to be satisfied by public companies specified in the Law on Securities No. 70/2006/QH11, which is amended by The Law on Securities No. 62/2010/QH12 and its elaborating documents, shall be delisted in accordance with Article 38 and Article 39 of the Law on Securities No. 54/2019/QH14.
8. Equitized enterprises that have been registered on UPCOM before the effective date of the Law on Securities No. 54/2019/QH14 but the completion of public company registration is not confirmed by SSC will be deregistered after 01 year from the effective date of this Decree.
9. Before official inauguration date of VNX and VSDCC prescribed in the Law on Securities No. 54/2019/QH14, members of HNX, HoSE and VSD shall operate, perform the rights and obligations specified in this Decree.
10. After VNX and its subsidiary companies are officially inaugurated according to the Law on Securities No. 54/2019/QH14, the operations specified in this Decree shall be carried out as follows:
a) VNX shall rearrange the securities lists following the road map decided by the Prime Minister;
b) Within 01 year from the official inauguration date of VNX and its subsidiary companies, members of HNX and HoSE shall keep performing the rights and obligations of members of VNX and apply for membership with VNX.
11. After the effective date of this Decree, State Treasury may keep participating in debt instrument transaction without having to re-apply for registration with VNX and its subsidiary companies.
12. Regulations of Point e, Point h and Point o Clause 1 Article 120 of this Decree shall be applied after 01 year from the effective date of this Decree.
13. Within 03 years from the effective date of this Decree, securities clearing, settlement by central counterparty clearing shall be carried out in accordance with this Decree. Before that, regulations of the Law on Securities No. 70/2006/QH11, which is amended by the Law on Securities No. 62/2010/QH12 and its elaborating documents, shall apply.
14. Members of VSDCC may participate in securities clearing and settlement as if direct clearing members as prescribed by this Decree within 12 months after the central counterparty clearing is officially deployed. After this, only clearing members may participate in securities clearing and settlement.
15. From the effective date of this Decree, the operational risk management funds specified in Clause 3 Article 156 of this Decree will replace the operational risk management fund and derivative payment risk management fund specified in Decree No. 122/2017/ND-CP. The balance the operational risk management fund and derivative payment risk management fund of VSDCC before the effective date of this Decree shall be fully transferred to the operational risk management fund specified in Clause 3 Article 156 of this Decree.
16. Securities that have been registered at VSDCC and used as collateral in secured transactions at Property and Transaction Registration Centers of National Secured Transaction Registry affiliated to the Ministry of Justice do not have to be registered at VSDCC as prescribed in this Decree. Changes, correction of errors and cancellation of registration of secured transactions of these securities shall be carried out at Property and Transaction Registration Centers of National Secured Transaction Registry affiliated to the Ministry of Justice in accordance with regulations of law on registration of security interests.
17. Securities companies that signed contracts for provision of the services specified in Clause 3 Article 86 of the Law on Securities No. 54/2019/QH14 before its effective date but are not licensed for provision of issuance guarantee may keep executing these signed contracts.
18. The organizations that contribute capital to private funds that were established before the effective date of the Law on Securities No. 54/2019/QH14 and do not fall into the cases specified in Clause 1 Article 11 of the Law on Securities may keep holding a quantity fund certificates that is corresponding to the capital contributed to the funds.
19. The organizations that have signed contracts to act as fund certificate distribution agents of public funds that are established before the effective date of this Decree may keep executing these contracts and apply for registration of fund certificate distribution in accordance with Article 219 and Article 220 of this Decree within 01 year from the effective date of this Decree.
20. Every public company shall formulate its company's charter, internal regulations on company administration, operating regulations of the Board of Directors, the Board of Controllers in accordance with the Law on Enterprises No. 59/2020/QH14, the Law on Securities No. 54/2019/QH14, this Decree and relevant legislative documents, submit them to the earliest GMS for approval after the effective date of this Decree.
Article 311. Organization of implementation
Ministers, heads of ministerial-level agencies, heads of governmental agencies, Presidents of the People’s Committees of provinces are responsible for the implementation of this Decree./.
Tìm kiếm
Nghị định 155/2020/NĐ-CP (Bản Word)
Nghị định 155/2020/NĐ-CP (Bản Pdf)