CIRCULAR

ON DESTROYING MONEY OF STATE BANK OF VIETNAM

Pursuant to Law on State Bank of Vietnam dated June 16, 2010;

Pursuant to Decree No. 16/2017/ND-CP dated February 17, 2017 of Government on functions, tasks, powers and organizational structure of State Bank of Vietnam;

Pursuant to Decree No. 40/2012/ND-CP dated May 2, 2012 of Government on issuance of money, preservation and transport of valuable property and valuable papers in system of State Bank, foreign banks’ branches and credit institutions;

At request of Director General of Department of Issuance and Treasury,

Governor of State Bank of Vietnam promulgates Circular on destroying money of State Bank of Vietnam.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Circular prescribes destroying of banknotes (cotton and polymer) and metal money unqualified for circulation or suspended from circulation (hereinafter referred to as “defective money”).

Article 2. Regulated entities

1. Council for destroying money of State Bank of Vietnam (hereinafter referred to as “Council for destroying money”);

2. Council for supervising money destruction of State Bank of Vietnam (hereinafter referred to as “Supervision council”);

3. Entities affiliated to State Bank of Vietnam and organizations and individuals related to destroying money and supervising money destruction.

Article 3. Entitlement to decide on destroying money

1. Based on figures of money unqualified for circulation and money suspended from circulation at Central money vault, Director General of Department of Issuance and Treasury shall request Governor of State Bank of Vietnam to decide on time, amount and value of money to be destroyed.

2. Council for destroying money shall destroy money at Department of Issuance and Treasury in Hanoi (hereinafter referred to as “northern destroying body”) and Sub-department of Issuance and Treasury in Ho Chi Minh City (hereinafter referred to as “southern destroying body”).

Governor of State Bank of Vietnam shall decide on cases of destroying money at other places.

Article 4. Rules of destroying money

1. Ensure absolute safety regarding State assets and secret in destroying money.

2. Defective money shall be tallied and selected for specimen to enable Chairpersons of Council for destroying money to determine tally rate of each money type to be destroyed.

3. Destroy all money received from Central money vault after receiving tally and classification results of Council for destroying money.

4. Money cannot be restored and used after being destroyed and turned into scraps.

Article 5. Methods of destroying money

1. Defective money in form of paper shall be destroyed by specialized shredders.

2. Defective money in form of metal shall be destroyed by melting or specialized destruction machines.

Chapter II

ORGANIZATION, TASKS AND POWERS OF COUNCIL FOR DESTROYING MONEY

Article 6. Council for destroying money

1. On a yearly basis, Governor of State Bank of Vietnam shall decide to establish Council for destroying money, consisting of:

a) Chairperson: Director General of Department of Issuance and Treasury;

b) 1 Standing vice Chairperson: Deputy Director General of Department of Issuance and Treasury shall be directly in charge of northern destroying body;

c) 1 Vice Chairperson: Deputy Director General of Department of Finance – Accounting;

d) 1 Vice Chairperson: Director General of Sub-department of Issuance in Ho Chi Minh City shall be directly in charge of southern destroying body;

e) Members shall consist of heads and/or vices of Department of Issuance and Treasury; Deputy Director General, heads and/or vices of Sub-department of Issuance and Treasury in Ho Chi Minh City. In which, 1 member shall act as secretary of Council for destroying money and 2 members shall act as secretaries at northern and southern destroying body.

2. Specialized teams shall assist the Council for destroying money; 4 specialized teams shall be established at each destroying body as specified in Article 10 of this Circular.

Article 7. Tasks of Council for destroying money

1. The Council for destroying money shall direct and organize implementation of destroying money at destroying bodies according to this Circular under supervision of the Supervision council to ensure absolute safety in destroying money.

2. Adopt measures to promptly deal with flaws and errors that arise when destroying money.

3. Organize, produce final assessment and propose methods of commendation and actions taken against violations in destroying money.

4. Preserve documents related to destroying money as per the law.

Article 8. Tasks and powers of Chairperson of Council for destroying money

1. Be responsible to Governor of State Bank of Vietnam and to the law for destroying money of State Bank of Vietnam.

2. Issue regulations on operation of Council for destroying.

3. Jointly direct and operate; develop operation plans and programs of Council for destroying money; decide on tally rate of each type of defective money.

4. Assign Vice Chairpersons and members of the Council for destroying money; organize structure and tasks of specialized teams according to Article 10 of this Circular.

Article 9. Tasks and powers of Vice Chairpersons; members and members acting as secretaries of Council for destroying money

1. Vice Chairperson of the Council for destroying money

a) Comply with assignment and direction of the Chairperson of Council for destroying money.

b) Assist Chairperson of the Council for destroying money in directing and coordinating implementation of money destroying tasks.

c) Standing Vice Chairperson shall act on behalf of the Chairperson of Council for destroying money to be responsible for directing and coordinating operation of the Council for destroying money upon being assigned.

d) Vice Chairpersons in charge of destroying bodies shall assign each members, team leaders, vice leaders and members of specialized teams in destroying bodies under their management; approve plans for receiving defective money from Central money vault of the destroying bodies.

2. Members and members acting as secretaries of the Council for destroying money

a) Be responsible for Chairperson of the Council for destroying money for assigned tasks.

b) Members acting as secretaries of the Council for destroying money are tasked with monitoring and producing reports on destroying money on a regular and irregular basis; providing advice for Chairperson of the Council for destroying money regarding implementing policies related to benefits of officials and workers participating in destroying money; producing reports on violations against regulations on destroying money; cooperating with secretaries of the Council for destroying money in fulfilling necessary procedures serving intermediately and ultimately concluding destroying money.

Article 10. Tasks of specialized teams

1. Team for assigning, receiving and preserving defective money (hereinafter referred to as “Team 1”): Receive defective money from the Central money vault to store in defective money storage; transport to Team for tallying and Team for destroying money; preserve money sent by other specialized teams; receiving and storing money qualified for circulation selected from tallying defective money.

2. Team for tallying defective money (hereinafter referred to as “Team 2”): Receive money from Team 1, tally each note (piece) and deal with surplus, deficit, mix, counterfeit money and money qualified for circulation before transporting to Team for shredding; tally each note (piece) in case of surplus, deficit or stacks (bags) that are improperly sealed or packed which are discovered during assignment and receipt.

3. Team for shredding (hereinafter referred to as “Team 3”): Shred the defective money received from Team 1 and Team 2 by specialized devices and recall shredded materials.

4. Team for related affairs (hereinafter referred to as “Team 4”): Conduct administrative, accounting and inventory affairs; request purchase of materials serving destroying money.

5. Each specialized team shall have its own leader and second-in-command decided by Vice Chairperson of the money destroying body.

Article 11. Tasks of leaders of specialized teams

1. Comply with assignment of Vice Chairperson in charge of the destroying body and be responsible to the Council for destroying money for assigned tasks.

2. Directly guide and organize implementation of guaranteeing safety to assets under management of their team according to Article 10 this Circular.

3. Upon detecting violations and exploitation to asset appropriateness, leaders shall cooperate with supervising officials in making records and reporting to Council for destroying money and Supervision Council for timely actions.

Article 12. Officials and workers participating in destroying money

1. Officials and workers participating in destroying money must be qualified for their titles as per the law and shall be managed by regulations on classification and management of officials, public employees and workers affiliated to State Bank of Vietnam, Labor Code and relevant law provisions.

2. If necessary, Department of Issuance and Treasury shall cooperate with Department of Personnel and Organization in requesting the Governor of State Bank of Vietnam to summon officials and workers in all entities affiliated to State Bank of Vietnam to participate in destroying money.

Chapter III

SPECIFIC REGULATIONS ON DESTROYING MONEY

Article 13. Management of defective money vault

1. Management of defective money vault shall comply with management of money vault and cash preservation of State Bank of Vietnam for Central money vault.

2. Individuals managing defective money vault

a) 3 following individuals shall participate in managing defective money vault at each destroying body: 1 member of the Council for destroying money, 1 accounting employee and 1 keeper of defective money vault.

b) Individuals managing defective money vault shall be decided by Governor of the State Bank of Vietnam.

c) Responsibilities of individuals managing defective money vaults

 (i) The member of the Council for destroying money shall be responsible for organizing management and ensuring safety to assets and operation defective money vault; tasked with keeping keys to 1 lock pad of the outer doors of the money vault; directly unlocking and locking doors to supervise entry and exit and preserve assets in the defective money vaults; directly list and sign for confirmation on money records and records monitoring each type of asset, inventory records and vault access cards.

 (ii) Accounting employee shall be responsible for managing and supervising entry and exit and preserving assets in the defective money vault; tasked with managing and keeping keys to 1 lock pad of the outer doors of the money vault; directly unlocking and locking doors to allow asset entry and exit, preserving defective money vault; examining and comparing figures between accounting books and money records to ensure consistency; directly participating in inventory and signing for confirmation on money records and records monitoring each type of asset, inventory records and vault access cards.

 (iii) Keeper of the defective money vault shall be responsible for ensuring absolute safety for assets in the money vault; managing and keeping keys to 1 lock pad of the inner doors of the money vault; receiving and transporting defective money adequately and promptly according to legal and legitimate accounting books; recording each type of defective money, vault access cards and other documents; recording and preserving documents adequately, coherently and accurately; arranging and preserving assets in vault neatly and scientifically.

3. In case an individual managing defective money vault takes a break according to policies, takes a business trip or study trip for less than 15 working days, Chairperson of the Council for destroying money (for northern destroying body) and Vice Chairperson of the Council for destroying money (for southern destroying body) shall consider and assign another individual as substitution. Governor shall decide in case of taking a break for 15 working days or more.

Article 14. Extraction from Central money vault to Council for destroying money

1. Based on quantity and value of each type of defective money in Decision of Governor of State Bank of Vietnam and plans for receiving money of each destroying body, Department of Issuance and Treasury shall order transportation to enable Department of Finance – Accounting (for northern destroying body) and Agency for Accounting – Financial Affairs affiliated to Sub-department of Issuance of Treasury (for southern destroying body) and produce records of extracting defective money from the Central money vault to defective money vault.

2. Based on documents on extracting defective money, Central money vault shall produce records on money assignment and receipt and assign defective money to each destroying body.

Article 15. Regulations on receipt and preservation of defective money

1. Leader of Team 1 shall receive money assigned by the Central money vault to store defective money packed in packages (boxes) sealed with lead, the sealing paper must be fully specified with details specified in regulations on sealing cash of State Bank of Vietnam under internal supervision of Department of Issuance and Treasury.

2. Defective money while being stored must be classified and arranged scientifically without changing packing conditions of defective money.

3. Based on records of extracting defective money, Council for destroying shall select a random amount of money according to tally rate of each type of money approved by Chairperson of the Council for destroying money, hand over to Team 1 and to Team 2 to tally each note (piece); the remaining amount of money that does not require tallying shall be handed over to Team 3 for shredding.

Article 16. Regulations on tallying defective money

1. Based on records of extracting defective money, individuals managing defective money vault shall extract the money to enable Team 1 to hand over to Team 2 under internal supervision of Department of Issuance and Treasury.

2. Leader of Team 2 shall receive the money in packages (boxes) with whole seal and lead intact, the sealing paper must fully include details according to regulations on sealing case of State Bank of Vietnam and assign each accountant under supervision of the Supervision council following methods below:

a) Assign each stack of 10 banknotes and back of metal money with seal intact and each seal must contain all details according to regulations on sealing cash.

With respect to deformed money unqualified for circulation: assignment and receipt in packages and bags bearing seals according to regulations on packing and sealing deformed money.

b) With respect to packages (bags) containing less than 1,000 notes (pieces), individual packages and bags which bear seals, the seals must contain all details according to regulations and law.

3. Accountants after receiving all money packages (bags) assigned by the leaders shall sign for confirmation in internal records for money receipt, tally to determine quantity of notes (pieces), identify any surplus, deficit, mix, counterfeit money and money unqualified for circulation. If a pack (bag) contains adequate quantity of notes (pieces) with correct type of money as specified on the seal, remove the seal and pack a new pack (bag) with new seal.

4. Rules of packaging money and metal money after tallying the notes (pieces).

a) For notes: use 1 note in a stack to wrap around the stack along its width, put 10 stacks into 1 pile, use a band (spandex, nylon, etc.) to tightly wrap 2 times around the pile along the width and 1 time around the pile along the length, apply seal on whichever side the knot is on.

With respect to deformed notes that cannot be packed as above: put 1,000 notes in 1 fabric bag and use (spandex, nylon, etc.) band to tighten the opening and apply seal close to the knot at the bag opening.

b) With respect to metal money, put 1,000 pieces in fabric bag and use (spandex, nylon, etc.) band to tighten the opening and apply seal close to the knot at the bag opening. Metal money bag shall be contained in boxes and sealed as follows:

 (I) 1 box of VND 5,000: 50 bags;

 (ii) 1 box of VND 2,000, VND 1,000 and VND 500: 75 bags;

 (iii) 1 box of VND 200: 100 bags;

c) Upon applying seals to money piles (bags), separate 2 ends of the band. The seal of money bags (boxes), piles (bags) must fully include details namely date of tallying, type of money, number of notes (pieces), total amount and signatures of tallying individuals.

5. While tallying, if any amount of surplus, deficits, mixed, counterfeit money or money qualified for circulation is found in money piles (bags), accountants must inform officials supervising tally of the Supervision council, leaders or employees to supervise, monitor and deal with excess, deficits and witnesses (if any) to examine again and sign for confirmation on the back side of the seal papers of money piles (bags) and sign in records for monitoring surplus and deficits in tally.

6. Individuals supervising and dealing with surplus and deficits in Team 2 shall be assigned with an amount of advance by the Council for destroying money from Team 1 with accurate value to fill in the piles (bags) with missing notes (pieces), money qualified for circulation and counterfeit money, the advance amount shall be monitored in records and accounted on a daily basis under supervision of the Council for destroying money and sent to defective money vault. Remaining advance amount shall be destroyed in the last day when money of the same value is destroyed.

7. Preserve money during break time and mid-day break.

Before break time and mid-day-break, the pile (bag) that is being tallied shall be temporarily closed with (spandex, nylon, rubber, etc.) band; piles (bags) that have been tallied and not tallied must be separated and stored independently.

Doors to the tallying rooms must be locked and sealed with signatures of leaders of Team 2 and supervisory officials of the Supervision council.

8. Handling at the end of the working day

a) Accountants shall assign leaders of Team 2 with amount of money that has been tallied and not yet tallied within the day (if any) and sign on internal records for receipt. Leaders of Team 2 shall pack packages (boxes), apply seal or place in trolley with locks and seal bearing signatures of leaders of Team 2 and leaders of Team for supervising tally to send to defective money vault. Assignment and receipt between accountants and leaders of Team 2 can be conducted multiple times per day.

b) Produce records for confirming and consolidating surplus and deficit money in piles (bags) of defective money in each State Bank of Vietnam of provinces and central-affiliated cities, State Bank of Vietnam’s Operation Office, each credit institutions and local State Treasury together with seal schedules and sealing papers. For counterfeit money mixed in money that is being tallied, produce separate records and deal with as per the law.

c) Leaders of Team 2 shall produce records confirming results of tallying defective money, which determines total amount of money that has been tallied, not tallied, deficit, mixed, money qualified for circulation mixed with defective money or counterfeit money detected via tallying with signatures of leaders of Team for supervising tally.

d) Money with mixed type, counterfeit money and money qualified for circulation shall be recorded for monitor under supervision of the Supervision council and sent to defective money vault.

dd) Doors to tallying rooms must be locked and sealed with signatures of leaders of Team 2 and supervisory officials of the Supervision council.

Article 17. Regulations on shredding

1. Based on records for extracting defective money, leaders of Team 3 shall receive money from Team 1 and Team 2 in form of piles (bags) with whole seal as specified in Clause 2 and Clause 4 Article 16 of this Circular.

2. Shred the amount money received with specialized destruction machines to turn money into scraps; collect and preserve the scraps in the right place as per the law.

3. During break time and mid-day break, amount of money that is not yet shredded shall be arranged separately and neatly. Doors to shredding rooms must be locked and sealed with signatures of leaders of Team 3 and supervisory officials of the Supervision council.

4. At the end of each working day, leaders of Team 3 shall produce records confirming results of total money destroyed with confirming signatures of leaders of Team for supervising money shredding; the amount of money that is not shredded within the day (if any) shall be placed in bags (boxes), sealed or placed in trolleys with locks and seal of leaders of Team for supervising money shredding by leaders of Team 3 and send to defective money vault.

5. Director General of Department of Issuance and Treasury shall provide guidelines for destroying notes and metal money with specialized destruction machine.

Article 18. Regulations on ensuring security and safety to defective money vault, areas for assigning, receiving, tallying and shredding money

1. Areas for assigning, receiving, tallying and shredding money must have separate doors with sturdy locks; during break time or mid-day break, officials and workers must not stay at workplaces, leaders shall be the last persons to leave, lock and seal the doors with their signatures and signatures of supervisory officials. During working hours, employees who destroy money that enter and exit areas above must sign for confirmation in the records for supervision.

2. Employees who shred money in Team 1, 2 or 3 shall be responsible for guaranteeing safety for assets within their management.

3. When entering defective money vault, areas for assigning, receiving, tallying and destroying money employees who is involved in destroying money and relevant individuals must put on name tags, wear uniforms provided by Council for destroying money and Supervision council; do not use means of communications, recording devices, bags, suitcases, cash, flammable or explosive material.

For cases of individuals not tasked with destroying money, entering and exiting defective money vault, areas for assigning, receiving, tallying and destroying money require written permission of Vice Chairperson in charge of the destroying bodies.

4. Director General of Department of Issuance and Treasury shall provide requirements for equipment and doors to ensure safety for areas specified in Clause 1 of this Article.

5. Vice Chairperson in charge of destroying bodies shall assign management and use of daily keys , preserve spare keys to doors for assigning, receiving, tallying, destroying and other internal doors within the areas for destroying money (if any); keys to money storing devices (safes, containers, trolleys) in writing for relevant individuals.

Chapter IV

DEALING WITH SURPLUS AND DEFICIT OF DEFECTIVE MONEY, INVENTORY, ACCOUNTING, CONSOLIDATION AND REPORT

Article 19. Dealing with surplus and deficit of defective money

1. During assignment and receipt of defective money, in case of discovering bags (boxes) with extra or less piles (bags), mixed with piles (bags) of other value or bags (boxes) are improperly packed, both parties shall promptly produce records under supervision of supervisory officials and deal with any surplus, deficit and mix (if any) according to applicable regulations and law of State Bank of Vietnam.

In case discovering a pile (bag) contains inadequate amount of stacks or bears inadequate seal, both parties shall promptly produce records under supervision of supervisory officials and transfer to Team 2 to tally notes (pieces) and deal with any surplus, deficit and mix (if any) according to applicable regulations and law of State Bank of Vietnam.

2. On a monthly basis, based on records of tallying, schedules of total surplus and deficit of each province and central-affiliated city and State Bank of Vietnam’s Operation Office, Council for destroying money shall send schedules and records of surplus and deficit together with sealed packs (bags) with surplus or deficit money to State Bank of Vietnam of each province and central-affiliated city; send schedules of total surplus and deficit to Department of Finance – Accounting, determine amount differences in surplus or deficit to inform State Bank of Vietnam and State Bank of Vietnam’s Operation Offices of provinces and central-affiliated cities “Có” (suffice) or “Nợ" (debt).

3. Dealing with surpluses and deficits in State Bank of Vietnam in provinces and central-affiliated cities, SBV’s Operation Offices, credit institutions and foreign banks’ branches with for each individual whose name is on the seal of piles (bags), packs (boxes) shall comply with applicable regulations and law of State Bank of Vietnam.

Article 20. Dealing with mixed money, counterfeit money and money qualified for circulation via tallying

1. Mixed money unqualified for circulation, money suspended from circulation and counterfeit money detected via tallying shall be destroyed at the end of the destroy period.

2. Money qualified for circulation deteceted via tallying shall be transported to Issuance reserve funds at Central money vault at the end of the destroy period.

Article 21. Inventory of defective money vault

1. Defective money stored in vault shall be examined once a month on the last working day of the month. Inventory shall be implemented by Vice Chairperson in charge of destroying bodies, members of Council for destroying money managing money vault, heads of money destroying agency and employees performing accounting tasks for defective money vault; additional assistants may be summoned for inventory under supervision of Supervision council.

2. Inventory method shall comply with applicable regulations on cash inventory of State Bank of Vietnam.

3. Records of inventory shall be made into 5 copies: Council for destroying money shall keep 4 copies; Supervision council shall keep 1 copy.

Article 22. Income and expenditure on destroying money

1. On a yearly basis, Department of Issuance and Treasury and Sub-department of Issuance and Treasury shall consolidate and produce estimates of income and expenditure on destroying money and send to Department of Finance – Accounting as per the law.

2. Income and expenditure on destroying money shall be accounted according to applicable regulations and law.

Article 23.  Documents monitoring defective money

1. Entry and exit of money between Central money vault and Council for destroying money, internal assignment and receipt between specialized teams shall be fully, promptly and accurately monitored according to applicable accounting policies.

2. Keepers of defective money shall open record books to monitor general and specific sessions of entry and exit of money types; open vault cards to monitor each type of money in the vault.

3. Leaders of Team 2 and Team 3 shall open record books to monitor general and specific sessions of money types (entry, exit, other) of each team, advance amount; produce final reports on tally results and destroying results on a monthly basis, quarterly basis and yearly basis.

4. Assignment and receipt of money between specialized teams shall be made into records for money assignment and receipt, records for monitor and fully signed for confirmation.

Article 24. Consolidation and report

1. On a monthly basis, quarterly basis and yearly basis, Council for destroying money shall consolidate figures regarding destroying money and results of destroying money at each destroy body, report to Chairperson of Council for destroying money and send to Supervision council.

2. At the end of the year of destroying money, destroying bodies shall consolidate figures and produce records of results of total money destroyed at each body with confirmation of the Supervision council.

The records shall be made into 5 copies: 1 copy for Department of Finance – Accounting, 2 copies for Department of Issuance and Treasury, 1 copy for Supervision council and 1 copy at the destroying body.

3. Council for destroying money shall produce final reports on destroying money of the whole year and present to Governor of State Bank of Vietnam. The reports include:

a) Organization of destroying money;

b) Figures of defective money actually destroyed;

c) Compliance with regulations and law on destroying money and operation regulations;

d) Recommendations and propositions.

4. On a yearly basis, Governor of State Bank of Vietnam shall produce reports on destroying money and send to Prime Minister and Ministry of Finance.

Chapter V

RESPONSIBILITIES AND BENEFITS OF OFFICIALS AND EMPLOYEES PARTICIPATING IN DESTROYING MONEY

Article 25. Responsibilities of officials and employees participating in destroying money

1. Upon working in defective money vault, areas for assigning, receiving, tallying and destroying money, officials and employees participating in destroying money are responsible for complying with working regulations and rules prescribed by Chairperson of Council for destroying money and regulations under this Circular.

2. Entities specified in Article 2 of this Circular shall be responsible for implementation of regulations and law on protecting Government secret in destroying money.

Article 26. Benefits of officials and employees participating in destroying money

Member of Council for destroying money, officials and employees participating in destroying money shall benefit from allowances for destroying money and other benefits according to applicable guiding documents of State Bank of Vietnam in addition to salaries and wages as per the law.

Article 27. Commendations and taking actions against violations

1. Groups and individuals with outstanding achievements in destroying money shall be commended according to applicable regulations of State Bank of Vietnam on emulation and commendation.

2. Groups and individuals violating regulations under this Circular shall be disciplined depending on nature and seriousness of the violations. In case of causing loss of money, compensate and be sanctioned as per the law.

3. If officials and employees participating in destroying money corrupts or exploits to steal assets, they must compensate 100% of the assets’ value and be discharged or criminally prosecuted as per the law.

Chapter VI

RESPONSIBILITIES OF ENTITIES AFFILIATED TO STATE BANK

Article 28. Responsibilities of Department of Issuance and Treasury

1. Developing and requesting Governor of State Bank of Vietnam to approve plans for destroying money unqualified for circulation and money suspended from circulation.

2. Requesting Governor of State Bank of Vietnam to establish Council for destroying money and assigning members to manage defective money vault.

3. Cooperating with Supervision council and Council for destroying in destroying money as per the law.

4. Guiding procedures of assignment, receipt, tally and destroying of notes, metal money and records, documents and reports used in destroying money.

5. Making statement and settlement of income and expenditure serving destroying money as per the law.

6. Requesting Governor of State Bank of Vietnam to approve schemes of selling scraps of defective money and cooperating with relevant entities in organizing implementation.

Article 29. Responsibilities of Internal Audit Department

Taking charge and cooperating with relevant entities in supervising destroying money according to Governor of State Bank of Vietnam on supervising destroying money unqualified for circulation and money suspended from circulation.

Article 30. Responsibilities of Department of Personnel and Organization

Acting as contact point and cooperating with Department of Issuance and Treasury in requesting Governor of State Bank of Vietnam in adopting procedures for recruiting contract workers; summoning officials and employees from entities affiliated to State Bank of Vietnam for destroying money.

Article 31. Responsibilities of Department of Finance - Accounting

1. Organizing implementation of accounting of destroying money.

2. Guiding accounting affairs in destroying money.

Chapter VII

IMPLEMENTATION

Article 32. Entry into force

1. This Circular comes into force from May 15, 2020.

2. This Circular replaces Circular No. 27/2012/TT-NHNN dated September, 2012 of Governor of State Bank of Vietnam on destroying money.

Article 33. Responsibilities for implementation

Chief of Office, Director General of Department of Issuance and Treasury, General Director of Internal Accounting Department, General Director of Department of Finance – Accounting, General Director of Department of Personnel and Organization and heads of entities affiliated to State Bank of Vietnam are responsible for implementation of this Circular.

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