Chapter VI
THE SECURITIES REGISTRATION, CLEARING PAYMENT AND CUSTODY
Article 60.- The registration, clearing payment and custody
1. The securities registration, clearing payment and custody shall be carried out in accordance with the regulations of the State Securities Commission.
2. Before issuing securities to the public, an issuing organization shall have to register securities at the Securities Trading Center and the Stock Exchange.
3. Securities issued before the effective date of this Decree shall have to be re-registered in accordance with the regulations of the State Securities Commission before being traded at the Securities Trading Center and/or the Stock Exchange.
Article 61.- The contents of securities registration, clearing payment and custody
The securities registration, clearing payment and custody shall include the following activities:
1. Registration of securities;
2. Clearing payment of securities transactions;
3. Preservation of securities certificates;
4. Book-entry accounting of securities by opening securities custody accounts for clients;
5. Transfer and settlement of securities;
6. Other services provided under the authorization of clients who have their securities in custody.
Article 62.- The conditions for securities custody activities
1. An organization engaged in the securities custody activities must be a bank or a securities firm which meet criteria of capital, material and technical facilities and professional expertise as prescribed by the State Securities Commission and be granted a license for securities custody activities by the State Securities Commission.
2. An organization that has been granted a license for securities custody activities shall be allowed to participate in the registration and clearing payment activities at the Securities Trading Center and the Stock Exchange.
Article 63.- The management of clients' assets
1. An organization engaged in the securities custody activities, the Securities Trading Center or the Stock Exchange shall have to manage assets of each client in separation from its own assets.
2. An organization engaged in the securities custody activities, the Securities Trading Center or the Stock Exchange shall not be allowed to consider the clients' assets under its management its own assets and use them to settle its debts.
Article 64.- The suspension of securities custody activities and withdrawal of licenses therefor
1. A securities custody organization shall be suspended from securities custody activities if it violates stipulations in Articles 56, 58, 60, 62 and 63 of this Decree.
2. A securities custody organization shall have its securities custody license withdrawn if it has already been suspended from securities custody activities, but failed to mend its violations within prescribed time limit.
Article 65.- The fees for securities registration, clearing payment and custody
The securities registration, clearing payment and custody fees shall be set by the State Securities Commission after consulting the Ministry of Finance.
Tìm kiếm
Nghị định 48/1998/NĐ-CP (Bản Word)