THE PRIME MINISTER

Decision No. 16/2013/QD-TTg of March 4, 2013 on the State Bank of Vietnam’s purchase and sale of gold bars on the domestic market
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the June 16, 2010 Law on the State Bank of Vietnam;
Pursuant to the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold trading activities;
Pursuant to the Government’s Decree No. 86/1999/ND-CP of August 30, 1999, on management of state foreign exchange reserves;
At the proposal of the Governor of the State Bank of Vietnam;
The Prime Minister promulgates the Decision on the State Bank of Vietnam’s purchase and sale of gold bars on the domestic market.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation and subjects of application
This Decision regulates the State Bank of Vietnam’s gold bar purchase and sale activities on the domestic market (below referred to as the State Bank) with credit institutions and businesses licensed to purchase and sell gold bars (below referred to as licensed credit institutions and businesses).
Article 2. Principles of the State Bank’s gold bar purchase and sale
1. Based on objectives of the monetary policy in each period, the State Bank may purchase or sell gold bars to intervene in and stabilize the domestic gold market and purchase gold bars to supplement to state foreign exchange reserves.
2. The State Bank shall carry out gold bar trading with licensed credit institutions and businesses according to its periodical gold bar purchase and sale plan.
3. The State Bank’s determination of the prices of buying and selling gold bars with licensed credit institutions and businesses on the domestic market must comply with the State Bank’s regulations in conformity with each form of gold bar purchase and sale as stipulated in Article 6 of this Decision.

Article 3. Rights and responsibilities of the State Bank