THE GOVERNMENT

Decree No. 11/2012/ND-CP of February 22, 2012, amending and supplementing a number of articles of the Government’s Decree No. 163/2006/ND-CP of December 29, 2006, on secured transactions
THE GOVERNMENT
Pursuant to the June 14, 2005 Civil Code;
Pursuant to the December 25, 2001 Law on Organization of the Government;
At the proposal of the Minister of Justice,
DECREES:
Article 1. To amend and supplement a number of articles of the Government’s Decree No. 163/2006/ND-CP of December 29, 2006, on secured transactions, as follows:
1. To amend and supplement Clauses 1 and 9, Article 3 as follows:
“1. Securing party means a party that uses its/his/her assets, land use rights or prestige or commits to performing a job for the secured party to secure the performance of its/his/her or others’ civil obligations. A securing party may be a pledgor, mortgagor, security deposit payer, collateral payer, escrow payer, guarantor or grassroots socio-political organization, for case of trust.”

“9. Valuable papers mean stocks, bonds, bills of exchange, promissory notes, bonds of credit, deposit certificates, checks, fund certificates and other law-prescribed valuable papers which, according to law, are monetizable and tradable.”