What is the application for voluntary cancellation of exchange membership of the Stock Exchange in Vietnam?
- What is the application for voluntary cancellation of exchange membership of the Stock Exchange in Vietnam?
- What is the latest form of written request for cancellation of exchange membership of the Stock Exchange in Vietnam?
- What are the procedures for voluntary cancellation of exchange membership of the Stock Exchange in Vietnam?
What is the application for voluntary cancellation of exchange membership of the Stock Exchange in Vietnam?
Pursuant to Article 103 of Decree No. 155/2020/ND-CP stipulating the voluntary cancellation of exchange membership, special exchange membership, State Treasury’s voluntary withdrawal from participation in debt instrument trade as follows:
Voluntary cancellation of exchange membership, special exchange membership, State Treasury’s voluntary withdrawal from participation in debt instrument trade
1. The application for voluntary cancellation of exchange membership shall contain:
a) The application form No. 27 in the Appendix hereof;
b) The decision of the Board of Directors, the Board of Members or the company’s owner on voluntary cancellation of the membership, termination of the securities company's securities brokerage, company dissolution, consolidation or merger;
c) The decision of the Board of Directors, the Board of Members or the company’s owner to approve the plan for settlement of liabilities and other unfulfilled obligations to the Stock Exchange.
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Thus, an exchange member of the Stock Exchange who voluntarily cancels his/her membership will need to prepare the following documents:
- Application for cancellation of membership.
- The decision of the Board of Directors, the Board of Members or the company’s owner on voluntary cancellation of the membership, termination of the securities company's securities brokerage, company dissolution, consolidation or merger;
- The decision of the Board of Directors, the Board of Members or the company’s owner to approve the plan for settlement of liabilities and other unfulfilled obligations to the Stock Exchange.
What is the application for voluntary cancellation of exchange membership of the Stock Exchange in Vietnam?
What is the latest form of written request for cancellation of exchange membership of the Stock Exchange in Vietnam?
Currently, the form of written request for cancellation of exchange membership is made according to Form No. 27 of the Appendix issued together with Decree No. 155/2020/ND-CP:
Download the form of written request for cancellation of exchange membership of the Stock Exchange: Click here.
What are the procedures for voluntary cancellation of exchange membership of the Stock Exchange in Vietnam?
Pursuant to Article 104 of Decree No. 155/2020/ND-CP stipulating the procedures for voluntary cancellation of exchange membership as follows:
Procedures for voluntary cancellation of exchange membership, special exchange membership, State Treasury’s withdrawal of participation in debt instrument trade
1. Within 03 working days from the receipt of the satisfactory application, the Stock Exchange shall issue a notification of suspension of transactions, liabilities and other obligations of the member to the Stock Exchange.
The exchange member shall finish the second-time repurchase, resale and repurchase, borrowing and lending transactions between the exchange member and its clients (if any) before the suspension date.
2. Within 24 hours from the receipt of the notification from the Stock Exchange, the exchange member shall announce the suspension of transactions and cancellation of membership.
3. Within 30 days from the receipt of the notification from the Stock Exchange as prescribed in Clause 1 of this Article, the member shall fulfill its obligations as notified.
4. Within 05 working days from the day on which the member fulfills its obligations as prescribed in Clause 3 of this Article, the Stock Exchange shall issue a decision on membership cancellation.
5. During the period over which transactions are suspended to cancel the exchange membership, the securities company must not sign contracts to open securities trading accounts; must not renew contracts with clients to make transactions through the trading system of the Stock Exchange; finalize and transfer accounts at the request of the clients (if any).
6. Procedures for the State Treasury to voluntarily withdraw from debt instrument trade are the same as the procedures specified in Clauses 1, 2, 3, 4 of this Article.
Thus, the processing time for voluntary cancellation of membership of the Stock Exchange is 03 working days from the date of receipt of a complete and valid application.
After that, the Stock Exchange shall issue a notification of suspension of transactions, liabilities and other obligations of the member to the Stock Exchange.
Within 24 hours from the receipt of the notification from the Stock Exchange, the exchange member shall announce the suspension of transactions and cancellation of membership.
Within 30 days from the receipt of the notification from the Stock Exchange, the member shall fulfill its obligations as notified.
Within 05 working days from the day on which the member fulfills its obligations, the Stock Exchange shall issue a decision on membership cancellation.
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