THE STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No. 14/2006/QD-NHNN
Hanoi, April 04, 2006
 
DECISION
ON THE AMENDMENT, SUPPLEMENT OF SEVERAL ARTICLES OF THE REGULATION ON THE ORGANIZATION AND OPERATION OF THE BOARD OF DIRECTORS, CONTROLLERS COMMITTEE, GENERAL DIRECTORS (DIRECTORS) OF NON-BANKING CREDIT INSTITUTIONS ISSUED IN CONJUNCTION WITH THE DECISION NO. 516/2003/QD-NHNN DATED 26/05/2003 OF THE GOVERNOR OF THE STATE BANK
THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on State Bank of Vietnam No.01/1997/QH10 dated 12/12/1997 and the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam No.10/2003/QH11 dated 17/6/2003;
- Pursuant to the Law on Credit Institutions No.02/1997/QH10 dated 12/12/1997; the Law on the amendment, supplement of several articles of the Law on Credit Institutions No.20/2004/QH11 dated 15/6/2004;
- Pursuant to the Decree No.52/2003/ND-CP dated 19/5/2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
- Pursuant to the Decree No.16/2001/ND-CP dated 02/05/2001 of the Government on the organization and operation of Finance Leasing Companies; the Decree No.65/2005/ND-CP dated 19/5/2005 of the Government on the amendment, supplement of several articles of the Decree No.16/2001/ND-CP dated 02/5/2001 of the Government on the organization and operation of Finance Leasing Companies;
- Pursuant to the Decree No.79/2002/ND-CP dated 04/10/2002 of the Government on the organization and operation of Finance Companies;

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Upon the proposal of the Director of Banks and Non-banking Credit Institution Department,
 
DECIDES:
Article 1. To amend, supplement several articles of the Regulation on the organization and operation of the Board of Directors, Controllers Committee, General Director (Director) of Non-banking Credit Institutions issued in conjunction with the Decision No.516/2003/QD-NHNN dated 26/5/2003 of the Governor of the State Bank, as follows:
1. To repeal Paragraph 3 Article 1
2. To amend Paragraph 4, Paragraph 6 of Article 3 as follows:
“4. Who has been a member of the Board of Directors or the General Director (Director) of an enterprise which has been declared bankrupt, except for cases provided for in the Law on Enterprise bankruptcy”.
“6. Who is one of subjects to be banned in accordance with provisions of the Law on Enterprises, the Ordinance on Officers, Civil Servants and the Law on anti-corruption.”
3. To amend Paragraph 4 Article 9 as follows:
“4. A Chairman of the Board of Directors shall not be permitted to participate in the Board of Directors or participate in the management of another Credit Institution, except for the case as provided for in Paragraph 5, Article 37 of the Law on Credit Institutions.”

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4. To amend Paragraph 1 Article 17 as follows:
“1. The Controllers' Committee shall consist of 03 members at least, but not in excess of 05 members and there is a permanent member at least. The number of members of Controllers' Committee and permanent members shall be stipulated by the Chairman of the Board of Director of the General Corporation, or the Board of Directors of credit institution, or the Chairman of the Board of Directors of a non-banking credit institution with foreign invested capital and stated in the Charter of the non-banking credit.”
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