THE STATE BANK OF VIETNAM
Circular No. 16/2012/TT-NHNN of May 25, 2012, guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities
Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;
Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions;
Pursuant to the Government’s Decree No. 96/2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities;
At the proposal of the director of the Foreign Exchange Management Department,
The Governor of the State Bank of Vietnam promulgates this Circular guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities.
Section 1
GENERAL PROVISIONS
Article 1. Scope of regulation
This Circular guides the manufacture of gold jewelry and art crafts; gold bar trading; and export and import of gold material by enterprises and credit institutions under the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities (below referred to as Decree No. 24/2012/ND-CP).
Article 2. Subjects of application
This Circular applies to enterprises and credit institutions engaged in gold business activities in the Vietnamese territory and other related organizations and persons.
Section 2
CONDITIONS FOR OBTAINING GOLD MATERIAL EXPORT OR IMPORT LICENSES
Article 3. Conditions for a manufacturer of gold jewelry and art crafts to obtain a gold material import license
1. Having an enterprise registration certificate indicating the business line of manufacture of gold jewelry and art crafts.
2. Having a certificate of eligibility for manufacture of gold jewelry and art crafts granted by the State Bank of Vietnam (below referred to as the State Bank).
3. Its gold material import demand matching its plan on manufacture of gold jewelry and art crafts.
