THE STATE BANK
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, December 21, 2006
PROMULGATING THE REGULATION ON DEBT PURCHASE AND SALE BY CREDIT INSTITUTIONS
THE GOVERNOR OF THE STATE BANK
Pursuant to the 2005 Civil Code;
Pursuant to the 1997 Law on the State Bank of Vietnam and the 2003 Law Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to the 1997 Law on Credit Institutions and the 2004 Law Amending and Supplementing the Law on Credit Institutions;
Pursuant to the Government's Decree No. 52/2003/ND-CP of May 19, 2003, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the director of the Credit Department,
Article 1.- To promulgate together with this Decision the Regulation on debt purchase and sale by credit institutions.
Article 2.-This Decision takes effect 15 days after its publication in "CONG BAO." This Decision replaces the State Bank Governor's Decision No. 140/1999/QD-NHNN14 of April 19, 1999, promulgating the Regulation on debt purchase and sale by credit institutions.
Article 3.- The director of the Office, the director of the Credit Department and heads of concerned units under the State Bank, directors of the State Bank's provincial/municipal branches, chairmen of managing boards, and general directors (directors) of credit institutions shall implement this Decision.
FOR THE STATE BANK GOVERNOR
Nguyen Dong Tien
ON DEBT PURCHASE AND SALE BY CREDIT INSTITUTIONS
(Promulgated together with the State Bank Governor's Decision No. 59/2006/QD-NHNN of December 21, 2006)
Article 1.- Scope of application
This Regulation provides for the purchase and sale of debts by credit institutions (including their organizations tasked to purchase and sell debts) which are established and operate under the Law on Credit Institutions, with respect to debts owed by their clients.
Article 2.- Subjects of application
1. Credit institutions established and operating under the Law on Credit Institutions.
2. Credit institutions' organizations tasked to purchase and sell debts.
3. Companies for purchase and sale of enterprises' debts and assets.
4. Other domestic and foreign organizations and individuals.
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