THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 30/2006/QD-BTC

Hanoi, May 12, 2006

 

DECISION

 

SUPPLEMENTING THE REGULATION ON ORGANIZATION AND OPERATION OF SECURITIES INVESTMENT FUNDS AND FUND MANAGEMENT COMPANIES, PROMULGATED TOGETHER WITH THE FINANCE MINISTER'S DECISION NO. 73/2004/QD-BTC OF SEPTEMBER 3, 2004

THE MINISTER OF FINANCE

Pursuant to the Government's Decree No. 77/2003/ ND-CPofJuly 1, 2003, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Government's Decree No. 144/ 2003/ND-CP of November 28, 2003, on securities and securities market;

At the proposal of the chairman of the State Securities Commission,

DECIDES:

Article 1.- To supplement Article 12a prescribing public funds' increase of capital to Chapter II of the Regulation on organization and operation of securities investment funds and fund management companies, promulgated together with the Finance Minister's Decision No. 73/2004/QD-BTC of September 3,2004, as follows:

1. Conditions for public funds' increase of capital

a/ The increase of capital is provided for in the fund's charter;

b/ The fund operates at a profit for two consecutive years prior to the year it applies for permission for capital increase;

c/ The fund management company neither faces any administrative sanction nor commits any criminal violation within two years;

d/ Fund certificates are issued to the fund's current investors under the form of the right to buy fund certificates. The fund certificate price for the fund's current investors is decided by the investors' congress on the basis of the fund's net asset value.

e/The plan on additional issuance of fund certificates must be fair and transparent, protect the investors' benefits, observe law provisions and be approved by the investors' congress.

2. Dossiers of application for permission for public funds' increase of capital

2.1. Dossiers of application for permission for public funds' increase of capital shall consist of:

a/Application for permission for public funds' capital increase;

b/ The draft prospectus which clearly describes the plan on additional issuance of fund certificates and the plan on the use of capital raised from the additional issuance of fund certificates;

c/ The resolution of the investors' congress approving the increase of capital and the plan on additional issuance of fund certificates to increase capital;

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