Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Friday, December 6, 2019
Tags: deposit
National Innovation Center to be built under special mechanism National Innovation Center to be built under special mechanism
All activities related to construction and formulation of management and operation model of the National Innovation Center would not undergo normal procedures but follow a special and fast-track process.
Corporate liability for offenses against the economic management order in Vietnam Corporate liability for offenses against the economic management order in Vietnam
The 2015 Penal Code (revised in 2017) (the Code) is Vietnam’s first and only code that holds commercial legal persons criminally liable for committing criminal acts. This is a breakthrough in the country’s criminal justice policy and leads to a substantial change in the general perception about crime and punishment. It also applies various penalties to commercial legal persons found liable for crimes[1], including three principal penalties (fine, suspension from operation, and termination of operation), three additional penalties (prohibition from doing business or operating in certain areas, prohibition from raising capital, and fine, when not imposed as a principal penalty), and five judicial measures (confiscation of objects and money directly related to the crime; return of property, redress of or compensation for damage; coerced public apology; coerced restoration to the original state; and coerced application of measures to redress and prevent further consequences).
SBV to reduce reserve requirement ratios on bank deposits SBV to reduce reserve requirement ratios on bank deposits
Credit institutions that take part in the central bank’s plan on supporting the restructuring of ailing credit institutions would be allowed to halve reserve requirements for all types of deposits.
Regulations on conversion of bank bonds into stocks drafted Regulations on conversion of bank bonds into stocks drafted
The State Bank of Vietnam (SBV) is revising Circular 34 of 2013 on issuance of promissory notes, bills, deposit certificates and domestic bonds by credit institutions and foreign bank branches.
Government increases fines for multi-level marketing violations Government increases fines for multi-level marketing violations
The Government has recently issued Decree 141 revising a number of articles of the decrees on sanctioning of administrative violations in multi-level marketing.
Void contracts under current private law of Vietnam Void contracts under current private law of Vietnam
Invalid contracts in general and void contracts in particular are provided in the 2015 Civil Code (the 2015 Code) on the basis of adhering to the principles of recognition, respect, protection and guarantee of civil rights; the fundamental principles of the civil law; and the principles on performance of civil rights and limitations on performance of civil rights. This article deals with some issues on void contracts under the current private law of Vietnam.
New strategy enhances independence of the central bank New strategy enhances independence of the central bank
The Strategy for development of the banking sector up to 2030 has been recently approved by the Prime Minister, setting forth major objectives for operations of the credit institution system as well as state management responsibilities of the State Bank. Below is an interview granted by Deputy Governor of the State Bank Nguyen Kim Anh to Thoi bao Ngan hang (Banking Times) about the Strategy.
Luật điều ước quốc tế - LAW ON TREATIES Luật điều ước quốc tế - LAW ON TREATIES
The Law on Treaties was passed on April 9, 2016, by the XIIIth National Assembly of the Socialist Republic of Vietnam at 11th session. This Law has 10 Chapters with 84 Articles, prescribes the conclusion, reservation, amendment and supplementation, extension, termination, renunciation, withdrawal, suspension of implementation of treaties, deposit, archival, making of certified copies, publication, registration, and organization of implementation of treaties, It came into force on July 1, 2016 To meet the need of readers to learn the Law on Treaties in 2016, the National Political Publishing House collaborates with the Editorial Board of the Vietnam Law & Legal Forum magazine under Vietnam News Agency (the sole agency authorized to translate “Cong Bao” into English) to publish the Vietnamese – English bilingual Law on Treaties. The English translation is reference only. We have the honor of introducing this book to readers.
Duty break for temporary imports for re-export Duty break for temporary imports for re-export
This Article provides in detail goods temporarily imported by an enterprise for re-export which are exempt from import duty.
New Criminal Procedure Code better protects human rights New Criminal Procedure Code better protects human rights
Though promulgated in 2015, the new Criminal Procedure Code took effect on January 1, 2018, like the 2015 Penal Code (revised in 2017). This article browses specific changes in the Code designed to better protect human rights and citizens’ rights in criminal proceedings