What are regulations on revenues and expenses of Vietnam Exchange?

What are regulations on revenues and expenses of VNX?

Pursuant to Article 4 of the Decree 59/2021/ND-CP stipulating revenues and expenses of VNX as follows:

1. VNX shall manage its revenues and other incomes in accordance with Article 30 of the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015 prescribing state capital investments in enterprises, use and management of capital and assets in enterprises and its guiding, amending and superseding documents (if any). Revenues of VNX include:

a) Operating revenues, including revenues from management of members and those from other operations as prescribed by law;

b) Revenues from provision of services, including information services, technological infrastructure services for the securities market, and other services as prescribed by law;

c) Revenues and incomes from investments in its subsidiaries, including after-tax profits after setting aside funds as prescribed in subsidiaries, differences between the owner's equity and the charter capital of the subsidiary, financial incomes and other incomes as prescribed by law.

2. VSDCC shall manage its revenues and other incomes in accordance with Article 30 of the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015 prescribing state capital investments in enterprises, use and management of capital and assets in enterprises and its guiding, amending and superseding documents (if any). Revenues of VSDCC include:

a) Operating revenues, including revenues from management of members; registration of securities; depositing of securities; transfer of securities between trading accounts; provision of corporate action services; transfer of ownership of securities not through the trading system; provision of settlement agent services for government's debt instruments, government-backed bonds and municipal bonds; provision of clearing and settlement for securities transactions, management and transfer of positions between trading accounts, management of margins, post-transaction error rectification, delay of settlement dates, and change to cash payment; registration of collateral for securities registered at VSDCC and revenues from other operations as prescribed by law;

b) Revenues from provision of services, including information services and other services as prescribed by law;

c) In addition to financial incomes and other incomes as prescribed by the Law on management and use of state capital invested in manufacturing and business operations of enterprises, VSDCC is allowed to record interests on deposits earned from payment of dividends, principal and interest amounts of government’s debt instruments, government-backed bonds, municipal bonds and other securities, and exercise of call options for securities as its financial incomes.

What are regulations on revenues and expenses of VSDCC?

Pursuant to Article 5 of the Decree 59/2021/ND-CP stipulating revenues and expenses of VSDCC as follows:

1. VNX and VSDCC shall manage its expenses in accordance with Article 30 of the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015 prescribing state capital investments in enterprises, use and management of capital and assets in enterprises and its guiding, amending and superseding documents (if any).

2. When determining its taxable incomes, VSDCC may include the following expenses in its deductible expenses, including:

a) Contributions to the operational risk management fund as prescribed in Clause 3 Article 156 of the Government’s Decree No. 155/2020/ND-CP dated December 31, 2020 on elaboration of some articles of the Law on Securities and its guiding, amending and superseding documents (if any). Contributions to the operational risk management fund shall be made quarterly. At the end of the fiscal year, the residual balance of the operational risk management fund shall be carried forward to the following year;

b) Revenues from transfer of ownership of securities not through the trading system transferred to subsidiaries of VNX.

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