Vietnam: What components does the dossier of request to change the location of the head office of a credit institution that is a cooperative?
- What components does the dossier of request to change the location of the head office of a credit institution that is a cooperative in Vietnam?
- What is the procedure for changing the location of the head office of a credit institution that is a cooperative carried out in Vietnam?
- How is the principle of submitting a dossier of request to change the location of the head office of a credit institution a cooperative in Vietnam?
What components does the dossier of request to change the location of the head office of a credit institution that is a cooperative in Vietnam?
The dossier of change of head office location of a cooperative bank is specified in Article 6 of Circular 05/2018/TT-NHNN (amended by Clause 4 Article 1 of Circular 22/2022/TT-NHNN), specifically as follows:
Change of head office location
1. A dossier of request includes:
a) A written request for approval to change the location of the head office according to the form in Appendix 02 issued together with this Circular;
b) Resolution of the General Meeting of Members approving the change of the location of the head office;
c/ Documents and documents proving that the credit institution being a cooperative has the right to use or legally own its head office at the new location.
Accordingly, a dossier of application to change the location of the head office of a credit institution that is a cooperative includes:
- A written request for approval to change the location of the head office according to the form in Appendix No. 02 issued together with Circular 22/2022/TT-NHNN.
- Resolution of the General Meeting of Members approving the change of the location of the head office;
- Documents and documents proving that the credit institution is a cooperative with the right to use or legally own its head office at the new location.
Vietnam: What components does the dossier of request to change the location of the head office of a credit institution that is a cooperative?
What is the procedure for changing the location of the head office of a credit institution that is a cooperative carried out in Vietnam?
Procedures for changing the location of the head office of a credit institution being a cooperative are specified in Clause 2 Article 6 of Circular 05/2018/TT-NHNN as follows:
Change of head office location
...
2. Order of implementation of approval procedures:
a) A credit institution being a cooperative shall make a dossier as prescribed in Clause 1 of this Article and send it to the State Bank. In case the dossier is incomplete, within 03 working days from the date of receipt of the dossier, the State Bank shall request in writing the credit institution being a cooperative to supplement the dossier;
b) Within 20 days from the date of receipt of a complete and valid dossier, the State Bank shall issue a decision on amending and supplementing the license for the location of the head office of the credit institution being a cooperative; in case of refusal, the State Bank shall respond in writing and clearly state the reasons.
Thus, a credit institution being a cooperative shall change the location of its head office in the following order:
- A credit institution being a cooperative shall make a dossier as prescribed in Clause 1 of this Article and send it to the State Bank.
In case the dossier is incomplete, within 03 working days from the date of receipt of the dossier, the State Bank shall request in writing the credit institution being a cooperative to supplement the dossier;
- Within 20 days from the date of receipt of a complete and valid dossier, the State Bank shall issue a decision on amending and supplementing the license for the location of the head office of the credit institution being a cooperative; in case of refusal, the State Bank shall respond in writing and clearly state the reasons.
In addition, within 12 months from the date on which the State Bank issues a decision to amend and supplement the license, a credit institution being a cooperative must operate at the new location. After this time limit, the credit institution being a cooperative does not operate at the new location, decides to amend and supplement the expired license.
How is the principle of submitting a dossier of request to change the location of the head office of a credit institution a cooperative in Vietnam?
Pursuant to the provisions of Article 4 of Circular 05/2018/TT-NHNN on this content as follows:
- A document of a credit institution being a cooperative requesting the State Bank of Vietnam or the State Bank of a branch of a province or centrally-run city to approve a request to change the location of its head office signed by the legal representative of the credit institution being a cooperative. In case the authorized representative signs, the dossier must contain a written authorization made in accordance with the provisions of law.
- The dossier is established in 01 set in Vietnamese.
- In case the document in the dossier is a copy but not a certified copy, the copy is issued from the original book, when submitting the dossier, the original must be presented for comparison, the collator must sign the confirmation of the copy and be responsible for the accuracy of the copy compared to the original.
- A credit institution being a cooperative shall send by post or directly submit a dossier of request for approval of the changes, the expected list of personnel is as follows:
+ Cooperative Bank to the State Bank of Vietnam;
+ The People's Credit Fund shall send the State Bank to the branch of the province or centrally-run city where the head office is located.
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