Decision 44 stipulating the regulation on registration and payment of individual corporate bond transactions in Vietnam
I have a question about Decision 44 stipulating the regulation on registration and payment of individual corporate bond transactions in Vietnam - Mr. Quang (Ha Noi).
Decision 44 stipulating the regulation on registration and payment of individual corporate bond transactions in Vietnam
On July 3, 2023, the Vietnam Securities Depository Center issued Decision 44/QD-VSD in 2023 on the Regulation on registration, depository and payment for individual corporate bond transactions.
The regulations on registration, depository and payment for individual corporate bond transactions are applicable to the following types of individual corporate bonds:
- Individual corporate bonds have been issued since Decree 153/2020/ND-CP took effect.
- Individual corporate bonds issued before the effective date of Decree 153/2020/ND-CP have outstanding balance and bond issuance plan with regulations on bond registration at the Corporation Vietnam Securities Depository and Clearing VSDC, approved to register bonds under the service provision contract between VSDC and the private bond issuer.
What are cases of cancellation of registration of individual corporate bonds in Vietnam?
Pursuant to Article 12 of the Regulation on registration, depository and payment of transactions of individual corporate bonds issued together with Decision 44/QD-VSD in 2023 stipulating cases of cancellation of registration of individual corporate bonds in Vietnam as follows:
(1) Bonds to maturity;
(2) The issuer redeems all bonds before the maturity date;
(3) The issuer swaps all bonds before maturity;
(4) The issuer converts all bonds before maturity;
(5) The bond issuer has its enterprise registration certificate or license for establishment and operation in a specialized field revoked;
(6) HNX detects that the issuer is falsifying transaction registration documents, forging transaction registration change documents;
(7) The bond issuer ceases to exist due to dissolution or bankruptcy or the division or separation of the enterprise.
What is the time limit to process the application for deregistration of individual corporate bonds when the bonds come to maturity in Vietnam?
Pursuant to Clause 1 Article 14 of the Regulation on registration, depository and payment of transactions of individual corporate bonds issued together with Decision 44/QD-VSD in 2023 stipulating regulations on handling dossiers of individual corporate bonds deregistration as follows:
Processing individual corporate bonds deregistration dossiers
1. Processing time
1.1. For the cases specified in Clauses 1, 2, 4, 5, Article 13 of this Regulation, the time limit for VSDC to consider and process the application for deregistration of bonds is within 5 working days from the day following. date VSDC receives the issuer's file. The date VSDC receives the issuer's dossier 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 limit for VSDC to consider and process the bond deregistration dossier is within 02 working days from the day immediately following the day VSDC receives the decision to cancel the bond registration for trading bonds of HNX.
1.3. For the case specified in Clause 3, Article 13 of this Regulation, time for VSDC to consider and handle deregistration of bonds:
a) In case the swap code has not been registered at VSDC: Within 05 working days from the day immediately following the date VSDC receives the application for deregistration from the issuer. The date VSDC receives the dossier is specified in Clause 7 Article 3 of this Regulation.
b) In case the swap code has been registered at VSDC: Within 05 working days from the day immediately following the date VSDC receives the additional registration dossier from the issuer. The date VSDC receives the dossier is specified in Clause 7 Article 3 of this Regulation; The effective date of deregistration of swapped bonds coincides with the effective date of additional registration of swap bonds.
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Pursuant to Clause 1 Article 13 of the Regulation on registration, depository and payment of transactions of individual corporate bonds issued together with Decision 44/QD-VSD in 2023 stipulating cases for cancellation of registration for bonds until the deadline as follows:
Dossier to cancel registration of individual corporate bonds
1. Dossier for deregistration of bonds to maturity includes:
a) Application for deregistration of bonds (Form 07/DK-TPRL);
b) A copy of HNX's decision on cancellation of bond trading registration;
...
Thus, the processing time for the application for deregistration of individual corporate bonds when the bonds come to maturity is 05 working days from the day immediately following the date on which the Vietnam Securities Depository and Clearing Corporation receives the issuer's dossier.
The date the Vietnam Securities Depository and Clearing Corporation received the issuer's dossier was as follows:
+ In case of direct submission of documents: The date according to the signature and receipt in the official dispatch book of VSDC;
+ In case of sending documents by post: Is the date of receipt according to the official dispatch stamp of VSDC;
+ In case of sending documents through VSDC's electronic communication portal: The date when the depository member, the organization opens the account directly and the issuer confirms the submission of the dossier on the electronic communication portal of VSDC.
Best regards!
