THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No. 99/2004/TT-BTC
Hanoi, October 19, 2004
 CIRCULAR
GUIDING THE IMPLEMENTATION OF THE GOVERNMENT’S DECREE NO. 43/2001/ND-CP OF AUGUST 1, 2001 PRESCRIBING THE FINANCIAL REGIME FOR INSURANCE ENTERPRISES AND INSURANCE BROKERAGE ENTERPRISES
 
Pursuant to December 9, 2000 Insurance Business Law No. 24/2000/QH10;
Pursuant to the Government's Decree No. 43/2001/ND-CP of August 1, 2001 prescribing the financial regime for insurance enterprises and insurance brokerage enterprises;
Pursuant to the Government's Decree No. 77/2003/ND-CP of July 1, 2003 defining the functions, tasks, powers and organizational structure of the Finance Ministry;
The Ministry of Finance hereby provides the following detailed guidance:
 
I. CHARTER CAPITAL
1. The provisions on charter capital of insurance enterprises or insurance brokerage enterprises shall comply with Article 5 of the Government's Decree No. 43/2001/ND-CP of August 1, 2001 prescribing the financial regime for insurance enterprises and insurance brokerage enterprises.
2. Contributed charter capital of insurance enterprises or insurance brokerage enterprises is the charter capital amount actually contributed by the owners to the enterprises.
3. Within 15 days after the date they are granted the establishment and operation licenses, insurance enterprises or insurance brokerage enterprises must contribute a charter capital at a level not lower than the legal capital level prescribed in Article 4 of the Government’s Decree No. 43/2001/ND-CP of August 1, 2001 prescribing the financial regime for insurance enterprises and insurance brokerage enterprises.
4. Throughout the process of operation, insurance enterprises and insurance brokerage enterprises must maintain their charter capital at a level not lower than the legal capital level prescribed in Article 4 of the Government’s Decree No. 43/2001/ND-CP of August 1, 2001 prescribing the financial regime for insurance enterprises and insurance brokerage enterprises. If, for any reasons, their charter capital decreases to a level lower than the legal capital level prescribed in Article 4 of the Government’s Decree No. 43/2001/ND-CP of August 1, 2001, insurance enterprises or insurance brokerage enterprises must make additions to the contributed charter capital so that it is not lower than the said legal capital level.