Cases of cancellation of registration of individual corporate bonds in Vietnam

Cases of cancellation of registration of individual corporate bonds in Vietnam (Internet image)

Cases of cancellation of registration of individual corporate bonds in Vietnam

Content mentioned in Decision 44/QD-VSD 2023 on Regulations on registration, depository and payment for individual corporate bond transactions issued by the Vietnam Securities Depository.

VSDC cancels the registration of individual corporate bonds in cases where bonds are canceled from trading registration according to the provisions of Clause 13, Article 1 of Decree 65/2022/ND-CP, specifically:

- Bonds reach maturity;

- The issuing organization repurchases all bonds before maturity;

- The issuer swaps all bonds before maturity;

- The issuer converts all bonds before maturity;

- The bond issuing organization has its business registration certificate or license for establishment and operation in a specialized field revoked;

- HNX discovered that the issuer forged transaction registration documents and forged transaction registration change documents;

- The bond issuer ceases to exist due to dissolution or bankruptcy or a business division or separation.

Application for cancellation of registration of individual corporate bonds

1. Registration cancellation documents for bonds reaching maturity include:

- Request for cancellation of bond registration (Form 07/DK-TPRL);

- Copy of HNX's Decision on canceling bond trading registration;

2. Registration cancellation documents for bonds fully repurchased by the issuer before maturity include:

- Request for cancellation of bond registration (Form 07/DK-TPRL);

- Copy of HNX's Decision on canceling bond trading registration;

- Copy of documents proving that the issuing organization has announced information about the repurchase of all bonds before maturity.

3. Registration cancellation documents for bonds fully swapped by the issuer before maturity include:

3.1. In case the bond code to be exchanged has not been registered at VSDC

The issuing organization must register for swap bonds at the Vietnam Securities Depository and Clearing Corporation according to the provisions of Clause 12, Article 1 of Decree 65/2022/ND-CP. Issuing organizations submitting applications for cancellation of registration for swapped bonds at VSDC include:

- Request for cancellation of bond registration (Form 07/DK-TPRL);

- Copy of HNX's Decision on canceling trading registration for swapped bonds;

- Copy of documents proving that the issuing organization has announced information about the entire bond swap before maturity.

3.2. In case the bond code receiving the swap has been registered at VSDC

Issuing organizations do not have to submit documents to cancel bond registration at VSDC. The cancellation of the registration of swapped bonds is carried out by VSDC based on:

- Documents notifying the issuer's exercise of bond exchange rights;

- Application for additional registration of additional bonds issued for swap;

- Copy of HNX's Decision on canceling trading registration for swapped bonds;

4. Registration cancellation dossier for bonds fully converted by the issuer before maturity includes:

- Request for cancellation of bond registration (Form 07/DK-TPRL);

- A copy of the written report to the State Securities Commission on the results of stock issuance due to the conversion of convertible bonds and a copy of the State Securities Commission's document announcing receipt of the issuance results (in case a public company issues shares);

- Copy of HNX's Decision on canceling bond trading registration;

- Copies of documents proving that the issuer has disclosed information related to the conversion.

5. Registration cancellation dossier for an issuer that ceases to exist due to dissolution or bankruptcy or divides or splits the business/issuing organization and has its business registration certificate revoked or license to establish and operate in a specialized field, including:

- Request for cancellation of bond registration (Form 07/DK-TPRL);

- Resolution of the General Meeting of Shareholders/Decision of the Board of Members/Company Owners approving the dissolution, bankruptcy, division, or separation of the enterprise;

- Valid copies of legal documents related to dissolution, bankruptcy, division, separation of businesses, revocation of business registration certificate or establishment license, and operating in the specialized field of the issuing organization: Business registration certificate from the Department of Planning and Investment after division or separation; Document from a competent state agency on the dissolution/bankruptcy/split-up of an enterprise; Court decision on enterprise dissolution/bankruptcy (in case of dissolution/bankruptcy according to court decision); Decision to revoke the Certificate of Business Registration from the Business Registration Authority or licensing authority (in case of dissolution due to revocation of the Business Registration Certificate or license for establishment and operation in a specialized field);

- Copy of HNX's Decision on canceling bond trading registration;

- Commitment documents of relevant parties (newly established companies after division, separation, and separated companies) to ensure full payment of debts and other property obligations (in case of division or separation of a business)/Document committing the issuing organization to ensure payment of all debts and other property obligations and not be in the process of resolving disputes in Court or Arbitration (in case of enterprise dissolution).

6. Documents for canceling bond registration in case HNX detects that the issuer falsified transaction registration documents or forged documents to change transaction registration:

The registration cancellation was carried out by VSDC based on HNX's Decision on canceling bond trading registration due to the issuer forging trading registration documents or forging trading registration change documents.

Duong Chau Thanh

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE