Where is headquarter of Vietnam Securities Depository and Clearing Corporation located?

Where is headquarter of Vietnam Securities Depository and Clearing Corporation located?

Pursuant to Article 1 of Decision 26/2022/QD-TTg stating:

1. Vietnam Securities Depository and Clearing Corporation is a State-owned enterprise organized and managed in the form of a one-member limited liability company in which 100% of charter capital is held by the State; has legal status, has its own seal; may open accounts in Vietnam dong and foreign currencies at the State Treasury and domestic commercial banks, foreign bank branches; Independent accounting, implementation of financial regulations, statistical reporting, accounting, auditing, information disclosure, and financial obligations as prescribed by law.

a) International transaction name: Vietnam Securities Depository and Clearing Corporation.

b) Abbreviated name: VSDC.

c) The General Directorate of Vietnam Securities Depository and Clearing Corporation has its head office in Hanoi and a branch in Ho Chi Minh City.

2. Vietnam Securities Depository and Clearing Corporation inherits all rights and responsibilities of the Vietnam Securities Depository Center in accordance with the law; exercise the rights and perform the obligations as prescribed in the Law on Securities, the Law on Enterprises, the Law on the management and use of state capital invested in production and business at the enterprise and relevant provisions of law; carry out enterprise registration according to the provisions of the Law on Enterprises.

According to this Article, the head office of Vietnam Securities Depository and Clearing Corporation is located in Hanoi andhas a branch in Ho Chi Minh city.

What are responsibilities of the State Securities Commission for Vietnam Securities Depository and Clearing Corporation?

In Article 6 of Decision 26/2022/QD-TTg, the organization of implementation is as follows:

1. Ministry of Finance:

a) To exercise the rights and perform the obligations of the owner's representative agency towards the Vietnam Securities Depository and Clearing Corporation in accordance with the Law on management and use of state capital invested in securities; Exporting and doing business at enterprises, Law on Securities, Law on Enterprises, Decree No. 59/2021/ND-CP dated June 18, 2021 of the Government stipulating a number of specific contents on financial management mechanism, evaluating the performance of the Vietnam Stock Exchange, Vietnam Securities Depository and Clearing Corporation, this Decision and guiding documents, amending, supplementing and replacing (if any).

b) Issuing, amending and supplementing the Charter of organization and operation of Vietnam Securities Depository and Clearing Corporation at the request of the Board of Members of Vietnam Securities Depository and Clearing Corporation and the opinion of the Chairman of the State Securities Commission.

c) Submitting to competent authorities for promulgation or amending, supplementing or replacing legal documents on financial management mechanism and performance evaluation of the Vietnam Securities Depository and Clearing Corporation.

2. State Securities Commission

a) Approving the regulations on professional activities and membership for the General Corporation of Vietnam Securities Depository and Clearing Corporation to promulgate in accordance with the provisions of the securities law.

b) Manage and supervise professional activities of Vietnam Securities Depository and Clearing Corporation in accordance with the securities law.

c) The Chairman of the State Securities Commission has opinions on the personnel being the Chairman of the Board of Members, the General Director of the Vietnam Securities Depository and Clearing Corporation before the appointment of the Minister of Finance; dismissed in accordance with the Law on Securities.

d) The Chairman of the State Securities Commission has opinions on the Charter of organization and operation of the Vietnam Securities Depository and Clearing Corporation before the Minister of Finance promulgates it in accordance with the provisions of the Law on Securities. 

3. Ministries, ministerial-level agencies, Governmental agencies and relevant agencies shall, according to their functions and tasks, implement this Decision in accordance with law.

4. The People's Committee of Hanoi and the People's Committee of Ho Chi Minh City shall assume the prime responsibility for, and coordinate with the Ministry of Finance in, performing the local state management of Vietnam Securities Depository and Clearing Corporation and its branches in accordance with the law.

According to this Article, the State Securities Commission in Vietnam has the following responsibilities:

- Approving the regulations on professional operations and membership for the Vietnam Securities Depository and Clearing Corporation to promulgate in accordance with the securities law.

- Manage and supervise professional activities of Vietnam Securities Depository and Clearing Corporation in accordance with the provisions of securities law.

- The Chairman of the State Securities Commission shall have an opinion on the personnel being the Chairman of the Board of Members, the General Director of the Vietnam Securities Depository and Clearing Corporation before the appointment or exemption of the Minister of Finance under the provisions of the Securities Law.

- The Chairman of the State Securities Commission shall give opinions on the Charter on organization and operation of the Vietnam Securities Depository and Clearing Corporation before the Minister of Finance promulgates it in accordance with the provisions of the Law on Securities.

What is implementation of adjustment of charter capital of Vietnam Securities Depository and Clearing Corporation? 

Article 3 of Decision 26/2022/QD-TTg stipulates the charter capital of Vietnam Securities Depository and Clearing Corporation as follows:

1. The charter capital of the Vietnam Securities Depository and Clearing Corporation is VND 1,000 billion, which is determined by the equity of the Vietnam Securities Depository Center according to the audited financial statements. paid before the date on which the Vietnam Securities Depository and Clearing Corporation is granted the Certificate of Business Registration.

2. The adjustment of charter capital of Vietnam Securities Depository and Clearing Corporation shall comply with the law on management and use of state capital invested in production and business in enterprises.

As such, adjustment of charter capital of Vietnam Securities Depository and Clearing Corporation shall comply with the law on management and use of state capital invested in production and business in enterprises. 

Best Regards!