THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 03/2006/QD-NHNN
Hanoi, January 18, 2006
 
DECISION
ON GOLD TRADING VIA OVERSEAS ACCOUNTS
THE GOVERNOR OF THE STATE BANK
Pursuant to the December 12, 1997 Law on the State Bank of Vietnam and the June 17, 2003 Law Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to the December 12, 1997 Law on Credit Institutions and the June 15, 2004 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the Government's Decree No. 52/2003/ND-CP of May 19, 2003, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Foreign Exchange Management Department,
 
DECIDES:
Article 1.- Governing scope and subjects
This Decision governs the trading in gold via overseas accounts by credit institutions licensed to conduct foreign exchange operations and engaged in gold trading activities (hereinafter called credit institutions for short) and gold-trading enterprises.
Article 2.- Interpretation of terms
1. "Gold trading via overseas accounts" means gold trading via overseas gold accounts in transactional forms according to international practice.
2. "Gold position of credit institutions" means the gold balance on overseas gold accounts of credit institutions.
3. "Gold position of gold-trading enterprises" means the gold balance on overseas gold accounts of enterprises.
4. "Converted gold position price" means the buying price at the opening time of credit institutions or gold-trading enterprises.
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