Press Release on issuance of Circular No.03/2017/TT-NHNN
The Governor of the State Bank of Vietnam (SBV) issued Circular No. 03/2017/TT-NHNN on June 6, 2017 to revise a number of articles of Circular No.16/2012/TT-NHNN dated May 25, 2012 on guiding several articles of Decree No.24/2012/ND-CP dated April 3, 2012 of the Government on gold trading management. Circular No. 03/2017/TT-NHNN will take effect from July 22, 2017.
The Circular includes 4 Articles with main substances as follows:
The Circular revises Articles 8 of Circular No.16/2012/TT-NHNN stipulating specific dossiers of requesting Certificate of eligibility for gold jewelry and crafts production, including (i) Application for requesting Certificate of eligibility for gold jewelry and crafts production; (ii) Enterprise Registration Certificate and documents indicating that enterprises registered gold jewelry and crafts production; (iii) Document or dossiers proving the ownership or the right of using manufacturing place; list of equipments for gold jewelry and crafts production.
The Circular supplements Article 9 of Circular No.16/2012/TT-NHNN stipulating specific dossiers of requesting Certificate of gold bullion trading for two cases: granting to enterprises and granting to credit institutions.
The Circular amends Article 9a of Circular No.16/2012/TT-NHNN stipulating specific dossiers of requesting adjustment of Certificate of gold bullion trading for four cases: (i) changing in enterprise information as written in Certificate of gold bullion trading, (ii) changing in name and address of gold bullion trading points, (iii) adding gold bullion trading points, (iv) requesting termination of gold bullion trading activities at licensed points.
The Circular revises Article 19 of Circular No.16/2012/TT-NHNN stipulating responsibility for reports of SBV municipal and provincial branches.
Moreover, the Circular abolishes Item 3 of Article 10 of Circular No.16/2012/TT-NHNN and Items 3, 5, 6 and 19 of Article 1, Appendix 1a promulgated with Circular No.38/2015/TT-NHNN dated December 31, 2015 on revising several articles of Circular No.16/2012/TT-NHNN.
The issuance of Circular No. 03/2017/TT-NHNN aims at revising a number of articles of Circular No.16/2012/TT-NHNN, focusing on simplifying administrative procedures through abolishing regulation on dossiers in accordance with Government’s directions on key tasks and measures of improving business environment and national competitive capacity as mentioned in Resolution No.35/NQ-CP dated May 16, 2016 and Resolution No.19-2016/NQ-CP dated April 28, 2016.
Translated by Le Hang