Circular 23/2016/TT-NHNN amending Circular 16/2010/TT-NHNN guiding the implementation of Decree 10/2010/ND-CP on credit information activities issued by the Governor of the State Bank of Vietnam onion

CIRCULAR

AMENDMENTS TO CIRCULAR NO. 16/2010/TT-NHNN DATED JUNE 25, 2010 BY GOVERNOR OF STATE BANK OF VIETNAM PROVIDING GUIDELINES FOR IMPLEMENTATION OF GOVERNMENT’S DECREE NO. 10/2010/ND-CP DATED FEBRUARY 12, 2010 ON CREDIT INFORMATION SERVICES  

Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Credits Institutions No. 47/2010/QH12 dated June 16, 2010;

Pursuant to the Law on enterprises No. 68/2014/QH13 dated November 26, 2014;

Pursuant to the Law on investment No. 67/2014/QH13 dated November 26, 2014;

Pursuant to the Government’s Decree No. 156/2013/ND-CP dated November 11, 2013 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam (SBV);

Pursuant to the Government's Decree No. 10/2010/ND-CP dated February 12, 2010 on credit information services (hereinafter referred to as “Decree No. 10/2010/ND-CP”);

At the request of the Head of the SBV Banking Supervision Agency;

The Governor of the State Bank of Vietnam promulgates a Circular providing amendments to the Circular No. 16/2010/TT-NHNN dated June 25, 2010 by the Governor of the State Bank of Vietnam providing guidelines for implementation of the Government’s Decree No. 10/2010/ND-CP dated February 12, 2010 on credit information services (hereinafter referred to as “Circular No. 16/2010/TT-NHNN”).

Article 1. Amendments to Circular No. 16/2010/TT-NHNN

1. Clause 1 Article 1 is amended as follows:

“1. Procedures for issuance of Certificate of eligibility to perform credit information-related activities (hereinafter referred to as “Certificate of eligibility”) to credit information companies.”.

2. Clause 2 Article 3 is amended as follows:

 “2. “management staff" includes holders of the titles of Chairperson of Board of Directors, Chairperson of Board of Members, Company’s President, members of Board of Directors, members of Board of Members, general partners, General Director (Director), Deputy General Director (Deputy Director), and holders of other managerial positions competent to act on behalf of the company to enter into its transactions according to the provisions of its Charter and members of Control Board of a credit information company.”.

3. Heading of Chapter II is changed into “THỦ TỤC CẤP GIẤY CHỨNG NHẬN” (“PROCEDURES FOR ISSUANCE OF CERTIFICATE OF ELIGIBILITY”).

4. Article 5 is amended as follows:

“Article 5. Application for Certificate of eligibility

1. An application for Certificate of eligibility includes:

a) The application form made according to Form No. 01/TTTD enclosed herewith; 

b) Enterprise registration certificate;

c) Documents proving the fulfillment of the conditions in Article 7 of Decree No. 10/2010/ND-CP and Government’s regulations amending and superseding these conditions (if any), including:

i) The enterprise’s Charter;

ii) The contract signed with a network service provider;

iii) The list and explanation about information technology and software equipment serving the collection, processing, storage and provision of credit information products;

iv) A commercial bank’s certification of balance on deposit accounts in VND, gold and foreign currencies; a professional valuation service provider's certification of other assets contributed as business capital; or the audit firm's certification of enterprise's charter capital;

v) The list of title holders of the enterprise’s management staff;

vi) Summarized CVs of management staff members made according to form No. 02/TTTD enclosed herewith, accompanied by their qualifications, certificates, certificates of working experience in specialized fields of relevant organizations;

vii) The business plan made according to form No. 03/TTTD enclosed herewith;

viii) The written commitments of commercial banks, made according to form 04/TTTD enclosed herewith, to provide credit information for the enterprise;

ix) The written agreements on collection, processing, storage and provision of credit information signed between the enterprise and credit institutions that have committed to provide credit information.

2. The application for Certificate of eligibility shall be made in five (05) sets and sent directly or by post to SBV (via SBV Banking Supervision Agency), in which:

a) At least two (02) sets of application include:

i) The originals of documents prescribed in Point a, Points c(iii), c(iv), c(v), c(vii) Clause 1 of this Article and summarized CVs of management staff members made according to form No. 02/TTTD;

ii) Copies of other documents prescribed in Clause 1 of this Article. If any copy of the abovementioned documents is not a certified true copy or a copy made from its master register, it must be presented with its original for verification purposes. The person making such verification shall make certification on the verified copy and assume responsibility for his/her certification.

b) Documents included in other sets of application, except those prescribed in Point a Clause 2 of this Article, are photocopies which bear the enterprise’s stamp.”

Article 2. 

Article 4 and Article 11 of Circular No. 16/2010/TT-NHNN are abrogated.

Article 3. Implementation

1. This Circular comes into force from July 01, 2016.

2. This Circular nullifies Clauses 1, 2 Article 1 of the Circular No. 27/2014/TT-NHNN dated September 18, 2014 by the Governor of the State Bank of Vietnam providing amendments to the Circular No. 16/2010/TT-NHNN.

Article 4. Implementation organization

The Chief of Office, Head of SBV Banking Supervision Agency, heads of relevant units affiliated to the State Bank of Vietnam, Directors of branches of the State Bank of Vietnam in provinces and central-affiliated cities, General Director of National Credit Information Center of Vietnam, Chairpersons of the Boards of Directors, Chairpersons of the Boards of Members and General Directors (Directors) of credit information companies, and relevant organizations and individuals shall organize the implementation of this Circular./.

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