THE STATE BANK
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, December 29, 2006
PROMULGATING THE REGULATION ON DISCOUNT AND REDISCOUNT OF NEGOTIABLE INSTRUMENTS BY CREDIT INSTITUTIONS FOR THEIR CLIENTS
THE STATE BANK GOVERNOR
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 a Number of Articles of the Law on Credit Institutions;
Pursuant to the 2005 Law on Negotiable Instruments;
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 Monetary Policy Department,
Article 1.-To promulgate together with this Decision the Regulation on discount and rediscount of negotiable instruments by credit institutions for their clients.
Article 2.-This Decision takes effect fifteen days after its publication in "CONG BAO."
Article 3.-The director of the Office, the director of the Monetary Policy Department and heads of units under the State Bank of Vietnam, directors of the State Bank's provincial/municipal branches, chairmen of management boards and general directors (directors) of credit institutions shall implement this Decision.
FOR THE STATE BANK GOVERNOR
Nguyen Dong Tien
ON DISCOUNT AND REDISCOUNT OF NEGOTIABLE INSTRUMENTS BY CREDIT INSTITUTIONS FOR THEIR CLIENTS
(Promulgated together with the State Bank Governor's Decision No. 63/2006/QD-NHNN of December 29, 2006)
Article 1.- Scope of regulation
This Regulation provides for the discount and rediscount of negotiable instruments by credit institutions for their clients in Vietnamese territory.
Article 2.- Subjects of application
1. Credit institutions which are established and operate under the Law on Credit Institutions and conduct operations of discounting and rediscounting negotiable instruments under the Law on Negotiable Instruments.
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