| MINISTRY OF FINANCE -------- No:.212/2012/TT-BTC | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom - Happiness --------------- Hanoi, December 05, 2012 |
CIRCULAR
GUIDING THE ESTABLISHMENT, ORGANIZATION AND OPERATION OF FUND MANAGEMENT COMPANY
Pursuant to the Securities Law dated June 29, 2006;
Pursuant to the Law amending and supplementing a number of Articles of the Law on Securities dated November 24, 2010;
Pursuant to the Law on Enterprises dated November 29, 2005;
Pursuant to the Decree No.58/2012/ND-CP dated July 20, 2012 of the Government detailing and guiding the implementation of a number of Articles of the Law on Securities and the Law Amending and Supplementing a Number of Articles of the Law on Securities;
Pursuant to the Decree No.118/2008/ND-CP of November 27, 2008 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
At the request of the Chairman of the State Securities Commission;
The Minister of Finance issues the Circular on the establishment, organization and operation of the fund management company.
Chapter I
GENERAL PROVISIONS
Article 1. Scope and subjects of governing
1. This Circular provides for the establishment, organization and operation of the fund management company and the activities of the concerned organizations and individuals in the territory of the Socialist Republic of Vietnam.
2. Except for the licensed fund management companies, the other organizations may not receive capital or property entrusted to manage the securities portfolio; may not raise capital and assets to establish, manage securities investment fund in accordance with provisions of the Securities Law.
Article 2. Interpretation of terms
In addition to the terms explained in the Decree No.58/2012/ND-CP of July 20, 2012 of the Government detailing and guiding the implementation of a number of Articles of the Law on Securities and the Law Amending and Supplementing a number of Articles of the Law on Securities, in this Circular, the terms below are construed as follows:
1. Executive Board consists of Director (General Director), Deputy Directors (Deputy General Director).
2. Valid copy means a copy certified in accordance with law.
3. Fund management company means the enterprise operating securities business, providing service of securities investment fund management, securities portfolio management and securities investment consultancy.
4. Entrusting customer representatives mean the chairman of the fund representative board, chairman of the Management Board of securities investment company, the legal representative of property entrusting organization authorized by general meeting of investors, the fund representative board, the general meeting of shareholders of securities investment company, the Management Board of securities investment company, property entrusting organization authorized to perform its rights under the provisions of the fund charter, charter of securities investment company, investment management contract, the company charter and the provisions of law.
