Decree No. 214/2013/ND-CP on amending and supplementing several articles of the Government’s Decree No. 103/2008/ND-CP dated September 16, 2008, on compulsory insurance for civil liability of motor vehicle owners

 THE GOVERNMENT

Decree No. 214/2013/ND-CP dated December 20, 2013 of the Government on amending and supplementing several articles of the Government’s Decree No. 103/2008/ND-CP dated September 16, 2008, on compulsory insurance for civil liability of motor vehicle owners

Pursuant to the December 25, 2001 Law on Organization of the Government;

Pursuant to the December 09, 2000 Law on Insurance Business and the Law amending and supplementing a number of articles of Law on Insurance Business, dated November 24, 2010;

At the proposal of the Minister of Finance;

Government promulgates Decree amending and supplementing several articles of the Government’s Decree No. 103/2008/ND-CP dated September 16, 2008, on compulsory insurance for civil liability of motor vehicle owners,

Article 1. To amend and supplement several articles of the Government’s Decree No. 103/2008/ND-CP dated September 16, 2007, on compulsory insurance for civil liability of motor vehicle owners as follows:

1. Clause 2 Article 4 is amended as follows:

"2. Insurance enterprises shall deduct at least 1% of annually collected premiums of compulsory insurance for civil liability of motor vehicle owners as contributions to the Motor Vehicle Insurance Fund”.

2. Clause 9 Article 20 is amended as follows:

"9. To deduct 1% of annually collected premiums of compulsory insurance for civil liability of motor vehicle owners as contributions to the Motor Vehicle Insurance Fund.”

3. Clause 5 Article 21 is amended as follows:

“To promulgate the mechanism of management, use, payment and finalization of the motor vehicle insurance fund.”