THE GOVERNMENT
-------
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
----------
No: 161/2006/ND-CP
Hanoi, December 28, 2006
 
DECREE
PROVIDING FOR CASH PAYMENT
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the December 12, 1997 Law on the State Bank of Vietnam and June 17, 2003 Law No. 10/2003/QH11 Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to the December 12, 1997 Law on Credit Institutions and June 15, 2004 Law No. 20/2004/QH11 Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
At the proposal of the Governor of the State Bank of Vietnam,
DECREES:
Article 1.- Governing scope
This Decree provides for cash payment limits, cash transaction charges and withdrawals of Vietnam dong cash in large quantity in transaction and payment in Vietnam.
Article 2.- Subjects of application
Subject to the application of this Decree are:
1. Payment service-providing organizations, state treasuries.
2. State budget-funded agencies and organizations, and organizations using state capital.
3. Other organizations and individuals having cash transactions with payment service-providing organizations.
Article 3.- Cash payment limits
1. State budget-funded agencies and organizations and organizations using state capital shall make non-cash payments to beneficiaries, except for those payments permitted to be made in cash via state treasuries.
2. If beneficiaries have no accounts at payment service-providing organizations or state treasuries, state budged-funded agencies and organizations and organizations using state capital may pay them cash.
3. For payments below cash payment limits, state budget-funded agencies and organizations and organizations using state capital may pay cash to beneficiaries.
Article 4.- Cash transaction charges collected by payment service-providing organizations
Payment service-providing organizations may collect charges for cash transactions at their units. Cash transactions charge rates shall be set and publicized by payment service-providing organizations in accordance with the State Bank's regulations.
Article 5.- Withdrawal of cash in large quantity
Payment service-providing organizations and state treasuries may agree with organizations and individuals on the withdrawal of cash in large quantity and on the advance notification of such withdrawal.
Click Download to see full text