Chapter II
OPERATIONS OF REPRESENTATIVE OFFICES OF FOREIGN SECURITIES COMPANIES AND FOREIGN FUND MANAGEMENT COMPANIES IN VIETNAM
Article 10. Scope of operations, rights and obligations of a representative office and its employees
1. The scope of operations of a representative office shall comply with Clauses 2, 3 Article 78 of the Law on Securities.
2. Rights and obligations of a representative office:
a) It is allowed to open a foreign currency account or VND account converted from a foreign currency at a commercial bank that is licensed to provide foreign exchange services in Vietnam and shall only use this account for its operations. Opening, use and closure of an account by the representative office shall comply with regulations of relevant laws;
b) It is allowed to recruit both Vietnamese and foreign persons to work at its premises in accordance with regulations of the law of Vietnam. Within 30 days from the date of recruitment of foreign persons to work at the representative office in Vietnam, the parent company or the representative office (with the authorization of the parent company) shall give a notification of such recruitment, enclosed with written approval given by competent authorities as prescribed in the Labor Code, to SSC;
c) It has its own seal under the law of Vietnam and shall only use this seal on transaction documents made within the ambit of rights and functions of the representative office;
d) It shall only perform operations according to the contents and within the period specified in the certificate of registration of operation of a representative office; shall not trade securities in Vietnam; shall not manage assets and investments for investors, including investments made by the parent company in Vietnam, and perform other securities trading activities in Vietnam;
dd) It shall perform other rights and obligations as regulated by the laws.
Article 11. Date of official operation
Within 15 days from the date of its official operation, the representative office shall provide SSC with a notice of operation made according to the form in Appendix V enclosed herewith and documents certifying its completion of information disclosure obligations as prescribed in the Law on Securities.
Article 12. Reporting and document retention by a representative office
1. During its operation, a representative office shall submit quarterly and annual reports on its operations to SSC. Such reports are prepared according the form in the Appendix I enclosed herewith.
2. The periodic reports mentioned in Clauses 1 of this Article shall be submitted within the following time limits:
a) A quarterly report shall be submitted within 20 days from the end of the quarter;
b) An annual report shall be submitted within 90 days from the end of the year.
3. The closing dates of the periodic reports mentioned in Clauses 1 of this Article are provided for as follows:
a) A quarterly report shall include data from the first day to the last day of the reporting quarter;
b) An annual report shall include data from January 01 to December 31 of the reporting year;
c) If the operating period of a new representative office is less than a reporting period, the reporting period shall commences on the date on which it is issued with certificate of operation registration and ends on the last day of the reporting period.
4. The representative office may submit periodic reports to SSC in either electronic or paper form.
5. The representative office shall keep documents at its premises in an adequate, accurate and timely manner, and update all information and data related to its operations. The representative office shall promptly provide information, documents or explanations about issues concerning its operations and operations of the parent company in Vietnam’s securities market at the request of SSC.
Tìm kiếm
Thông tư 97/2020/TT-BTC do Bộ trưởng Bộ Tài chính ban hành (Bản Word)
Thông tư 97/2020/TT-BTC do Bộ trưởng Bộ Tài chính ban hành (Bản Pdf)