| THE GOVERNMENT ----------- | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness ------------------ |
| No. 141/2003/ND-CP | Hanoi, November 20, 2003 |
DECREE
ON THE ISSUANCE OF THE GOVERNMENT'S BONDS, BONDS GUARANTEED BY THE GOVERNMENT AND BONDS OF LOCAL GOVERNMENT
THE GOVERNMENT
Pursuant to the Law on Government's Organization dated 25 December, 2001;
Pursuant to the Law on the State Budget dated 16 December, 2002;
Upon the proposal of the Minister of Finance;
DECREES:
Chapter I
GENERAL PROVISION
Article 1. Governing scope
1. This Decree provides for the issuance of the Government's Bonds, Bonds guaranteed by the Government and Bonds of local Government denominated in Vietnam Dong and in foreign currency within the territory of the Socialist Republic of Vietnam.
2. This Decree shall not govern:
a. The Bonds issued by the Credit Institutions in accordance with provisions of the Law on Credit Institutions;
b. The Bonds issued by enterprises under the method of self-borrowing, self-payment in accordance with the Law on the State owned enterprises and the Law on Enterprises;
Article 2. Interpretation
1. Government's Bond shall be a kind of debt securities, which are issued by the Government with term face value, interest and confirmation by the Government of its repayment obligation to Bonds' owners.
2. Bond guaranteed by the Government shall be a kind of debt securities, which are issued by enterprises to mobilize capital for projects designated by the Prime Minister, for which investors are guaranteed by the Government of the timely payment of issuing organizations. In case where issuing organizations fail to perform their repayment obligation (principals, interests) at the maturity date, the Government shall be responsible for the performance of the debt repayment in lieu of issuing organizations.
