THE MINISTRY OF FINANCE
Circular No. 123/2015/TT-BTC dated August 19, 2015 of the Ministry of Finance guiding the foreign investment activities on Vietnam securities market
Pursuant to the Law on Securities dated June 29, 2006;
Pursuant to the Law on Amendments and Supplements to several articles of the Law on Securities dated November 24, 2010;
Pursuant to the Law on Enterprise dated November 26, 2014;
Pursuant to the Law on Investment dated November 26, 2014;
Pursuant to the Law on Electronic Transaction dated November 29, 2005;
Pursuant to the Government's Decree No. 215/2013/ND-CP dated December 23, 2013 on defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to the Government's Decree No. 58/2012/ND-CP dated July 20, 2012 on providing specific provisions and guidance on the implementation of several articles of the Law on Securities and the Law on Amendments and Supplements to several articles of the Law on Securities;
Pursuant to the Government's Decree No. 60/2015/ND-CP dated June 26, 2015 on amending and supplementing several articles of the Government's Decree No. 58/2012/ND-CP dated July 20, 2012 on providing specific provisions and guidance on the implementation of several articles of the Law on Securities and the Law on Amendments and Supplements to several articles of the Law on Securities;
Pursuant to the Government's Decree No. 64/2007/ND-CP dated April 10, 2007 on applying information technology to operations of Government agencies;
After considering the request of the Chairman of the State Securities Commission;
The Minister of Finance hereby issues the Circular on providing guidance on foreign investment activities on Vietnam’s securities market.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of adjustment and subject of application
1. This Circular shall provide guidance on securities investing and trading activities, and the rate of securities ownership by foreign investors on Vietnam's securities market, exclusive of the following investing activities:
a) Investing activities stipulated in Article 22, 27 and 28 of the Investment Law;
b) Contribution of capital to and trading of shares of companies other than public companies, or capital contributions to limited liability companies, except for contribution of capital, purchase of shares, capital contributions in securities trading organizations and securities investment funds.
2. This Circular shall apply to the following entities:
a) Foreign investors;
b) Economic organizations of which more than 51% of the charter capital is held by foreign investors;
c) Depository banks, securities trading organizations;
d) Issuing organizations and public companies;
dd) Other related organizations or individuals.
