THE GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 109/2005/ND-CP
Hanoi, August 24, 2005
DECREE
ON DEPOSIT INSURANCE AMENDING AND ADDING TO A NUMBER OF ARTICLES OF DECREE 89/199/ND-CP OF THE GOVERNMENT DATED 1 SEPTEMBER 1999
THE GOVERNMENT
Pursuant to the Law on Organization of the Government dated 25 December 2001;
Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated 12 December 1997 and the Law amending the Law on Credit Institutions No. 20/2004/QH11 dated 15 June 2004; On the proposal of the Governor of the State Bank;
DECREES:
Article 1. To amend and add to a number of articles of Decree No. 89-1999-ND-CP of the Government dated 1 September 1999 on deposit insurance as follows:
1. To amend and add to article 2 as follows:
"1. It shall be mandatory for credit institutions and institutions other than credit institutions which are permitted to carry on a number of banking activities in accordance with the Law on Credit Institutions which receive deposits from organizations and individuals to participate in compulsory deposit insurance.
2. Institutions participating in deposit insurance shall publicly post notification of their deposit insurance at their head offices and transaction places."
2. To amend and add to article 3 as follows:
"Deposits to be insured shall be Vietnamese dong deposited by depositors being individuals, family households, co-operative groups, private enterprises and partnerships with institutions which participate in deposit insurance, except for the following cases:
(a) Deposits of depositors who are shareholders owning more than ten (10) per cent of the charter capital or holding more than ten (10) per cent of the shares with voting rights of the institution which participates in insurance of such deposits;
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