EXPIRATION OF CIRCULARS AND DECISIONS IN SECURITIES, INSURANCE BUSINESS AND BANKING

31 August, 2020

To comply with current laws and reduce administrative procedures, on April 17th 2020, the Ministry of Finance issued Circular No. 28/2020/TT-BTC abolishing a number of legal documents promulgated by The Minister of Finance in the field of Securities, Insurance business, Banking and finance (“Circular 28”). Specifically as follows:

In Securities, Circular 28 abolishes Circular No. 194/2009/TT-BTC dated October 2nd, 2009 of the Ministry of Finance guiding public offers to acquire shares in public companies or fund certificates in public closed-end securities investment funds.

In Insurance business, Circular 28 abolishes all six (06) legal documents, namely:

  1. Decision No. 99/2005/QD-BTC dated December 22nd, 2005 of the Minister of Finance promulgating rules, fee schedules and compulsory insurance liability level of people business in transporting visitors, flammable and explosive goods on inland waterways.
  2. Circular No. 99/2011/TT-BTC dated July 7th 2011 of the Minister of Finance guiding the financial management of pilot export credit insurance
  3. Circular No. 121/2011/TT-BTC dated August 17th 2011 of the Ministry of Finance guiding several articles of the Prime Minister’s Decision No. 315/QD-TTg dated March 1st 2011 on piloting agricultural insurance during 2011 – 2013.
  4. Circular No. 101/2012/TT-BTC dated June 20th 2012 of the Ministry of Finance stipulating some finance issues for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTg dated March 1st 2011 on piloting agricultural insurance during 2011 – 2013.
  5. Circular No. 57/2013/TT-BTC dated May 6th 2013 of the Ministry of Finance amending and supplementing Circular No. 121/2011/TT-BTC dated August 17th 2011 of the Ministry of Finance guiding several articles of the Prime Minister’s Decision No. 315/QD-TTg dated March 1st 2011 on piloting agricultural insurance during 2011 – 2013.
  6. Circular No. 96/2013/TT-BTC dated July 23th  2013 of the Ministry of Fincance amending and supplementing the Circular No. 121/2011/TT-BTC dated August 17th 2011 of the Ministry of Finance guiding several articles of the Prime Minister’s Decision No. 315/QD-TTg dated March 1st 2011 on piloting agricultural insurance during 2011 – 2013 and the Circular No. 101/2012/TT-BTC June 20th 2012 of the Ministry of Finance stipulating some finance issues for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTg dated March 1st 2011 on piloting agricultural insurance during 2011 – 2013.

In Banking and Finance, Circular 28 abolishes all two (02) legal documents, namely:

  1. Circular No. 105/2007/TT-BTC dated August 30th 2007 of the Ministry of Finance guiding on the handling of risk for investment credit capital and export credit of the state.
  2. Circular No. 35/2012/TT-BTC dated March 2nd 2012 of the Ministry of Finance guiding a number of article of Decree No. 75/2011/NĐ-CP of the Government, dated August 30th 2011 on investment and export credit of the state.

Commencing the effective date of Circular 28 (June 2nd, 2020), nine (09) legal documents mentioned above will be abolished.

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