THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 71/2001/TT-BTC
Hanoi, August 28, 2001
 
CIRCULAR
GUIDING THE IMPLEMENTATION OF THE GOVERNMENT’S DECREE No. 42/2001/ND-CP OF AUGUST 1, 2001 DETAILING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE INSURANCE BUSINESS LAW
Pursuant to Insurance Business Law No. 24/2000/QH10 of December 9, 2000;
Pursuant to the Government’s Decree No. 42/2001/ND-CP of August 1, 2001 detailing the implementation of a number of articles of the Insurance Business Law;
Pursuant to the Government’s Decree No. 178/CP of October 28, 1994 defining the tasks, powers and organizational structure of the Ministry of Finance;
The Ministry of Finance hereby provides the following detailed guidance:
I. ESTABLISHMENT AND OPERATION OF INSURANCE ENTERPRISES AND INSURANCE BROKERAGE ENTERPRISES
1. Dossiers of application for establishment and operation licenses (hereinafter called licenses for short)
1.1 Dossiers of application for licenses of insurance enterprises shall comply with the provisions of Article 64 of the Insurance Business Law. Dossiers of application for licenses of insurance brokerage enterprises shall comply with the provisions of Clauses 1, 2, 3 and 4, Article 64 of the Insurance Business Law.
1.2 Dossiers of application for licenses of insurance enterprises and insurance brokerage enterprises shall be made in three sets each, including one set of original documents and two sets of copies. Dossiers of application for licenses of foreign-invested insurance enterprises or insurance brokerage enterprises shall be made in three sets, each consisting of one Vietnamese version and one English version. Of these three sets one consists of original documents and two others consist of copies. Organizations and individuals applying for licenses (hereinafter called investors for short) shall be accountable for the accuracy of their application dossiers.
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