Chương V Thông tư 146/2014/TT-BTC: Lợi nhuận và trích lập các quỹ

Chapter V

PROFIT AND SETTING UP FUNDS

Article 13. Operation profit

Operation profit of securities companies, asset management companies shall be the total profit from professional operation, financial activity and other activities

Article 14. Distribution of profits

1. Conditions for the distribution of profits and principles of the distribution of profits shall be complied with the provisions of the Circular guiding the establishment and operation of securities companies, asset management companies and other provisions of the relevant law. Securities companies, asset management companies shall share the profits to members, shareholders after meeting the conditions specified in the law.

2. Operation profit of securities companies, asset management companies after offsetting losses of the last year under the provisions of the Law on Enterprise income tax and pay enterprise income tax shall be distributed as follows

a) Add 5% of the profit to additional reserve fund of charter capital until the balance is equal to 10% of the charter capital;

a) Add 5% of the profit to operational risk and financial reserve funds until the balance is equal to 10% of the charter capital;

3. The remaining profit distribution shall be decided by the Shareholder Meeting / Member Board / Owners of securities companies, asset management companies.

Article 15. The purpose of the Funds

1. Additional reserve fund of charter capital shall be used for annual supplementation of charter capital of the securities company or asset management company as decided by their Shareholder Meeting/ Board Member / Owners . The annual set-up level shall be decided by the Shareholder Meeting / Member Board/ Owners of securities companies, asset management companies under the regulations of the companies.

2. Operational risk and financial reserve funds shall be used to cover the remaining of the property loss and damage incurred in the course of operation after being offset by indemnities paid by the organizations, individuals causing the damage, the insurers. Investor protection fund shall be used for securities firms. Risk reserve and loss indemnity fund shall be used for asset management companies and the provision set up in expense shall be used. Board of Directors /member Board of securities companies, asset management companies shall manage and use this fund.

3. It is strictly forbidden that securities companies, asset management companies use the additional reserve fund of charter capital, and operational risk and financial reserve funds to pay dividends.