What is securities transfer at the request of customers at the Vietnam Securities Depository Center?

What is securities transfer at the request of customers at the Vietnam Securities Depository Center?

Pursuant to Article 20 of the Securities Operations Regulations issued with Decision 114/QD-VSD in 2021 regulating securities transfers at the request of customers at the Vietnam Securities Depository as follows:

1. VSD transfers securities from a customer's account at one depository participant to the same customer's account at another depository participant at the customer's request in the following cases:

a. Customers need to close a depository account at one depository participant to switch to make transactions at another depository participant (Transfer to finalize account);

b. The customer needs to transfer all securities owned on the account and derivative rights (if any) determined to be owned by the customer at one depository participant to that customer's own account at another depository participant (Transfer all securities and rights);

c. The customer needs to transfer the entire amount of one/several stock codes on the account and derivative rights (if any) determined to be owned by the customer at a depository member to that customer's own account at other depository participants (Transfer of part of securities and rights);

d. The customer needs to transfer a portion of the quantity of one/some stock codes on the customer's account at one depository participant to that customer's own account at another depository participant (Partial transfer of securities).

2. Transfer securities at the request of the organization that opens an account directly from the organization that opens an account directly's securities depository account at VSD to the organization that opens an account directly's own securities depository account at the depository member and vice versa.

3. Documents for securities transfer according to Clauses 1 and 2 of this Article include:

a. Request for securities transfer of depository member/organization that opens an account directly of the transferring party (Form 21/LK of this Regulation) (03 copies);

b. Request for finalization of the customer's depository account (Form 22A/LK or Form 22B/LK of these Regulations) in case of transfer to finalize the account (02 copies); Request for transfer of all securities of the customer (Form 23A/LK or Form 23B/LK of these Regulations) in case of transfer of all securities (02 copies); Request for transfer of part of the customer's securities (Form 24A/LK or Form 24B/LK of these Regulations) in case of transfer of part of securities and rights or part of securities (02 copies);

4. In case the customer's rights of the depository consultant/organization that opens an account directly arise while the file is being processed at VSD, VSD notifies the depository consultant/organization that opens an account directly to supplement the documents specified in Point a, Clause 3 of this Article.

5. Depository Member/organization that opens an account directly transfer party must control and be responsible for declaring the number of securities, type of securities (free transfer and conditional transfer) and arising rights identified as belonging to the owner. of the investor requesting a transfer.

6. VSD's processing time for transfer documents is 01 working day for documents specified in Clauses 3 and 4 of this Article from the date of receipt of complete and valid documents.

What are cases of transferring deposited securities not associated with transfer of ownership at the Vietnam Securities Depository Center?

According to Article 19 of the Securities Operations Regulations issued with Decision 114/QD-VSD in 2021, it regulates cases of depository securities transfer not associated with transfer of ownership at the Vietnam Securities Depository Center as follows: 

VSD transfers deposited securities outside the securities trading system not associated with ownership transfer in the cases specified in Clause 2, Article 22 of Circular 119/2020/TT-BTC.

What is implementation of cases of depository securities transfer associated with ownership transfer at the Vietnam Securities Depository Center?

In Article 18 of the Securities Operations Regulations issued with Decision 114/QD-VSD in 2021, it regulates cases of depository securities transfer associated with transfer of ownership at the Vietnam Securities Depository Center to be carried out as follows:

Cases of depository securities transfer associated with ownership transfer specified in Clause 2, Article 6 of Circular 119/2020/TT-BTC are implemented in accordance with the provisions of the Regulation on registration and transfer of securities ownership. 

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