THE MINISTRY OF FINANCE

Circular No. 194/2014/TT-BTC dated December 17, 2014 of the Ministry of Finance on amending and supplementing a number of articles of the Circular No. 124/2012/TT-BTC dated July 30, 2012 of the Ministry of Finance guiding the implementation of a number of articles of the Government’s Decree No. 45/2007/ND-CP of March 27, 2007, detailing a number of articles of the Insurance Business Law, and the Government’s Decree No. 123/2011/ND-CP of December 28, 2011, detailing a number of articles of the Law Amending and Supplementing a Number of Articles of the Insurance Business Law and the Circular No. 125/2012/TT-BTC dated July 07, 2012 of the Ministry of Finance on guiding financial regime applicable to insurers, reinsurance businesses, insurance brokers and branches of foreign non-life insurers
Pursuant to the Law on Insurance Business 2000 and the Law amending and supplementing a number of the Law on Insurance Business 2010;
Pursuant to Decree No. 45/2007/ND-CP dated 27 March 2007 of the Government stipulating in detail the implementation of a number of articles of the Law on insurance business;
Pursuant to Decree No. 46/2007/ND-CP dated 27 March 2007 of Government stipulating the financial regulation for insurance enterprises and insurance brokerage enterprises;
Pursuant to Decree No. 123/2011/ND-CP dated 28 December 2011 of the Government stipulating in detail the implementation of a number of articles of the Law amending and supplementing of a number of articles of the Law on insurance business and amending and supplementing of a number of articles of Decree No. 45/2007/ND-CP dated 27 March 2007 of the Government stipulating in detail the implementation of a number of articles of the Law on insurance business;
Pursuant to Decree No. 68/2014/ND-CP dated 09 July 2014 of the Government amending and supplementing of a number of articles of Decree No. 45/2007/ND-CP dated 27 March 2007 of the Government stipulating in detail the implementation of a number of articles of the Law on insurance business;
Pursuant to Decree No. 215/2013/ND-CP dated 23 December 2013 of the Government defining functions, duties, power and organizational structure of the Ministry of Finance;
At the request of Director of the Insurance Supervisory Authority Department,
The Minister of Finance issues the Circular amending and supplementing a number of articles of Circular No. 124/2012/TT-BTC dated 30 July 2012 of the Ministry of Finance guiding the implementation of a number of articles of Decree No. 45/2007/ND-CP dated 27 March 2007 of the Government stipulating in detail the implementation of a number of articles of the Law on insurance business and Decree No. 123/2011/ND-CP dated 28 December 2011 of the Government stipulating in detail the implementation of a number of articles of the Law amending and supplementing a number of articles of the Law on Insurance Business (hereafter referred to as “Circular No. 124/2012/TT-BTC”) and Circular No. 125/2012/TT-BTC dated 30 July 2012 of the Ministry of Finance guiding the financial regulation for insurance enterprises, re-insurance enterprises, insurance brokerage enterprises and branches of foreign non-life insurance enterprises (hereafter referred to as “Circular No.125/2012/TT-BTC”).
Article 1. To amend and supplement a number of articles of Circular No. 124/2012/TT-BTC
1. To supplement item dd, Point 1.2, Clause 1, Article 5 as follows:
 “dd) The provisions specified at item a, b and c, Point 1.2 of this Clause do not apply to the Insurance Broker Joint Stock Company.”
2. To amend Clause 7 of Article 7 as follows:
 “7. Evidences which demonstrate the use right of location where the main office is planned to be located and the establishment of branches of enterprise (if any).”
3. To amend Clause 3, Article 11 as follows:
 “3. Within sixty (60) days after fully receiving valid dossier of the investor, the Ministry of Finance shall issue the Permit of establishment and operation to the insurance enterprises and branches of foreign insurance enterprises under the Form specified in Annex 2 issued with this Circular.”