THE MINISTRY OF FINANCE
Circular No. 91/2013/TT-BTC of June 28, 2013, guiding the registration of establishment, organization and operation of Vietnam-based representative offices of foreign securities trading organizations and Vietnam-based branches of foreign fund management companies
Pursuant to the June 28, 2006 Law on Securities;
Pursuant to the November 24, 2010 Law Amending and Supplementing a Number of Articles of the Law on Securities;
Pursuant to the Government’s Decree No. 58/2012/ND-CP of June 20, 2012, detailing and guiding 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 Government’s Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
At the proposal of the Chairman of the State Securities Commission,
The Minister of Finance promulgates the Circular to guide the registration of establishment, organization and operation of Vietnam-based representative offices of foreign securities trading organizations and Vietnam-based branches of foreign fund management companies.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation and subjects of application
1. This Circular guides the registration of establishment, organization and operation of Vietnam-based representative offices of foreign securities trading organizations and Vietnam-based branches of foreign fund management companies.
2. Subjects of application include: Vietnam-based representative offices of foreign securities trading organizations (below referred to as representative offices); Vietnam-based branches of foreign fund management companies (below referred to as branches); and individuals and organizations involved in the registration of establishment, organization and operation of Vietnam-based representative offices and branches.
Article 2. Interpretation of terms
In this Circular, the terms below are construed as follows:
1. Valid copy means a copy of a document which is notarized or certified in accordance with Vietnamese law.
2. Vietnam-based branch of a foreign fund management company means a dependent unit of such company (parent company), which has no legal person status and has its parent company taking responsibility before Vietnamese law for all of its activities in Vietnam.
3. Parent company means a securities trading organization established in a foreign country and registering the operation of a Vietnam-based representative office or a foreign fund management company established in a foreign country and registering the establishment of a Vietnam-based branch. The parent company takes responsibility before Vietnamese law for all activities and obligations of their Vietnam-based representative offices or branches.
Click download to view the full text
