Application for the issue of the License for establishment and operation in cases of amalgamation and merger of investment companies in Vietnam

Application for the issue of the License for establishment and operation in cases of amalgamation and merger of investment companies in Vietnam (Internet image)

Article 28 of Circular 227/2012/TT-BTC stipulates that the application for the issue of the License for establishment and operation in cases of amalgamation and merger of investment companies in Vietnam sent to the State Securities Commission includes:

documents for requesting the State Securities Commission to grant a license to establish and operate a merged securities investment company or to adjust the license to establish and operate a merged securities investment company include:

• The written request for the issue/adjustment of the License for establishment and operation, made in accordance with the template in Annex 11 enclosed with this Circular, enclosed with the original Licenses for establishment and operation of the transferor companies;

• The decision of the General meeting of shareholders on the amalgamation or merger, including the meeting minutes and resolution of General meeting of shareholders;

• The list of creditors that request the repayment, and the amount payable to them; the list of shareholders that request the share repurchase, the amount of shares to be repurchased, and the payment;

• In an amalgamation, the following documents must be included: the charter, the prospectus of the amalgamated company, the depository and supervision contracts passed by General meeting of shareholders;

• The list of shareholders, members of the Board of Directors, the Director of the transferee company, made in accordance with the templates in Annex 15 enclosed with this Circular, and other relevant documents as prescribed in Point e and Point g Clause 1 Article 88 of the Decree 58/2012/ND-CP.

Note: This dossier is made into one (01) original set with an electronic data file attached. The original dossier is sent directly to the State Securities Commission or sent by post. Within fifteen (15) days from the date of receipt of complete and valid dossiers, the State Securities Commission shall issue a license for establishment and operation to the merged securities investment company or adjust the license for establishment and operation to the merged securities investment company. In case of refusal, the State Securities Commission shall respond in writing and state the reasons.

More details can be found in Circular 227/2012/TT-BTC, which comes into force from July 1, 2013.

Le Vy

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