As stipulated in Finance Minister’s Decision No. 87/2007/QD-BTC of October 22, promulgating the Regulation on securities registration, deposit, clearance and payment, the ownership transfer of securities registered with the Securities Depositary Center must be effected on the following principle: Securities owners who have made registrations with the Securities Depositary Center but not yet deposited their securities and wish to transfer the ownership of such securities are required to deposit securities into the Depositary Center for conducting transactions for securities purchase and sale through the Stock Exchange or the Securities Trading Center.
The Securities Depositary Center may effect the transfer of ownership of undeposited securities via securities trading at the Stock Exchange or the Securities Trading Center in the following cases: donation or inheritance of securities under the civil law; odd lot securities trading under securities and securities market law; redemption of preferred stocks by issuing organizations from their employees upon termination of labor contracts.
Each member of the Securities Depositary Center may open only one securities depository account at the Center for conducting transactions in deposited securities and may not open depository accounts at other members of the Center.
An insurance company with 100% foreign capital that makes investment in the securities market shall open two securities depository accounts at a depository member for separate management of investments from its own capital and insurance premiums.-