Chapter III

HANDLING OF VIOLATIONS AND IMPLEMENTATION PROVISIONS

Article 24.- The following acts are strictly prohibited:

1. Issuing negotiable instruments in contravention of the provisions of Article 9 of this Decree;

2. Counterfeiting or modifying negotiable instruments, thus falsifying the rights and obligations of the concerned parties;

3. Failing to pay negotiable instruments or obstructing the payment of negotiable instruments when they are presented on time at the prescribed place;

4. Transferring negotiable instruments, which have already expired or have been refused to be accepted;

5. Signing negotiable instruments ultra vires.

Article 25.- Handling of violations

Any persons violating the provisions of this Decree shall, depending on the nature and seriousness of their violations, be administratively sanctioned or examined for penal liability; and, if causing damage, pay compensation therefor according to law provisions.

Article 26.- Implementation effect

1. This Decree takes effect 15 days after its signing.

2. The Governor of the Vietnam State Bank shall have to guide the implementation of this Decree.

3. The ministers, the heads of the ministerial-level agencies, the heads of the agencies attached to the Government, the presidents of the People’s Committees of the provinces and centrally-run cities shall, within the scope of their respective functions, tasks and powers, have to guide the implementation of this Decree.