Processing Time for Dossiers on the Cancellation of Registration of Private Corporate Bonds for Issuers with Falsified Dossier of Registration for Transaction
What are the 07 cases of cancellation of registration of privately placed corporate bonds?
According to Article 12 of the Regulation on registration, depository, and settlement of privately placed corporate bond transactions issued together with Decision 44/QD-VSD year 2023, the 07 cases of cancellation of privately placed corporate bond registration are stipulated as follows:
(1) The bond reaches maturity;
(2) The issuing organization repurchases all bonds before maturity;
(3) The issuing organization exchanges all bonds before maturity;
(4) The issuing organization converts all bonds before maturity;
(5) The issuing organization's business registration certificate or specialized operational license is revoked;
(6) HNX discovers that the issuing organization forged transaction registration documents or altered registration documents;
(7) The issuing organization ceases to exist due to dissolution or bankruptcy or undergoes a split or merger.
Processing time for canceling the registration of privately placed corporate bonds for organizations that falsify registration documents? (Image from the Internet)
What documents are included in the dossier for canceling the registration of privately placed corporate bonds?
According to Article 13 of the Regulation on registration, depository, and settlement of privately placed corporate bond transactions issued together with Decision 44/QD-VSD year 2023, the dossier for canceling the registration of privately placed corporate bonds includes the following documents:
(1) Dossier for bond cancellation upon maturity:
- Application for bond deregistration;- Copy of the HNX Decision on bond transaction deregistration;
(2) Dossier for bond cancellation where the issuing organization repurchases all bonds before maturity:
- Application for bond deregistration;- Copy of the HNX Decision on bond transaction deregistration;- Copy of the document proving the issuing organization has disclosed information about the repurchase of all bonds before maturity.
(3) Dossier for bond cancellation where the issuing organization exchanges all bonds before maturity:
Case 1: The bond code to be exchanged has not been registered at VSDC
The issuing organization must register the bond to be exchanged at the Vietnam Securities Depository and Clearing Corporation in accordance with Clause 12 Article 1 of Decree 65/2022/ND-CP. The issuing organization submits the bond cancellation dossier for the exchanged bond at VSDC, including:
- Application for bond deregistration;- Copy of the HNX Decision on bond transaction deregistration for the exchanged bond;- Copy of the document proving the issuing organization has disclosed information about the exchange of all bonds before maturity.
Case 2: The bond code to be exchanged has been registered at VSDC
The issuing organization does not have to submit the bond cancellation dossier at VSDC. The bond cancellation is implemented by VSDC based on:
- Notification dossier for exercising the right to exchange bonds of the issuing organization;- Additional registration dossier for newly issued bonds to be exchanged;- Copy of the HNX Decision on bond transaction deregistration for the exchanged bond;
(4) Dossier for bond cancellation where the issuing organization converts all bonds before maturity:
- Application for bond deregistration;- Copy of the report to SSC on the results of issuing shares from the conversion of convertible bonds and a copy of SSC's document acknowledging receipt of the issuance results (for public companies issuing shares);- Copy of the HNX Decision on bond transaction deregistration;- Copy of the document proving the issuing organization has disclosed information related to the conversion.
(5) Dossier for bond cancellation for issuing organizations that cease to exist due to dissolution or bankruptcy or undergo a split or merger/the issuing organization has its business registration certificate or specialized operational license revoked, include:
- Application for bond deregistration;- Resolution of the General Meeting of Shareholders/Decision of the Members' Council/Company Owner approving the dissolution, bankruptcy, split, merger of the enterprise;- Certified copies of legal documents related to the dissolution, bankruptcy, split, merger, revocation of the business registration certificate, or specialized operational license of the issuing organization:+ Business registration certificate from the Department of Planning and Investment after the split or merger;+ Official document from the competent state agency regarding the dissolution/bankruptcy/split of the enterprise;+ Court decision on dissolution/bankruptcy (in case of dissolution/bankruptcy by court decision);+ Decision to revoke the business registration certificate from the Business Registration Authority or licensing body (in case of dissolution due to revocation of the business registration certificate or specialized operational license);
- Copy of the HNX Decision on bond transaction deregistration;- Commitment documents from the involved parties (newly established companies after the split, merger, and the split company) ensuring the payment of all debts and other property obligations (in case of a split, merger), or assurance from the issuing organization guaranteeing the payment of all debts, other property obligations, and that no dispute is being settled at court or arbitration (in case of dissolution).
(6) Dossier for bond cancellation in case HNX discovers the issuing organization falsified transaction registration documents or altered registration documents:
The bond cancellation is implemented by VSDC based on the HNX Decision on bond transaction deregistration due to falsified transaction registration or altered registration documents by the issuing organization.
Processing time for the dossier to cancel the registration of privately placed corporate bonds for organizations that falsified registration documents?
According to Clause 1, Article 14 of the Regulation on registration, depository, and settlement of privately placed corporate bond transactions issued together with Decision 44/QD-VSD year 2023, the processing time for privately placed corporate bond deregistration dossiers is stipulated as follows:
Processing of privately placed corporate bond deregistration dossiers
1. Processing Time
1.1. For the cases specified in Clauses 1, 2, 4, 5 of Article 13 of this Regulation, the time for VSDC to review and process the bond deregistration dossier is within 05 working days from the day immediately after VSDC receives the issuing organization’s dossier. The day VSDC receives the dossier from the issuing organization is specified in Clause 7 Article 3 of this Regulation.
1.2. For the case specified in Clause 6, Article 13 of this Regulation*, the time for VSDC to review and process the bond deregistration dossier is within 02 working days from the day immediately after VSDC receives the HNX Decision on bond transaction deregistration.*
1.3. For the case specified in Clause 3, Article 13 of this Regulation, the time for VSDC to review and process bond deregistration:
a) In the case the bond code to be exchanged has not been registered at VSDC: Within 05 working days from the day immediately after VSDC receives the bond deregistration dossier from the issuing organization. The day VSDC receives the dossier is specified in Clause 7 Article 3 of this Regulation.
b) In the case the bond code to be exchanged has been registered at VSDC: Within 05 working days from the day immediately after VSDC receives the additional registration dossier from the issuing organization. The day VSDC receives the dossier is specified in Clause 7 Article 3 of this Regulation; The effective date for deregistration of the exchanged bond coincides with the effective date for additional registration of the exchanged bond.
...
According to Clause 6, Article 13 of the Regulation on registration, depository, and settlement of privately placed corporate bond transactions issued together with Decision 44/QD-VSD year 2023, the case of the issuing organization falsifying registration documents is stipulated as follows:
Dossier for deregistration of privately placed corporate bonds
...
6. Dossier for bond deregistration in case HNX discovers the issuing organization has falsified transaction registration documents or altered registration documents
Thus, the processing time for the dossier to cancel the registration of privately placed corporate bonds for the case where the issuing organization falsified registration documents is 02 working days from the day immediately after VSDC receives the HNX Decision on bond transaction deregistration.
LawNet