Vietnam: In what forms are ownership to valuable papers transferred?

15:08, 03/01/2014

This content is specified in Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam providing for the domestic issuance of promissory notes, bills, deposit certificates, bonds by credit institutions, foreign bank branches.

Currently, promissory notes, bills, deposit certificates, bonds (hereinafter called valuable papers) shall be an evidence that confirms the debt repayment obligation between the issuing credit institution, foreign bank branch and the buyer of valuable paper in a certain period of time, interest payment conditions and other conditions.

hinh thuc chuyen quyen so huu giay to co gia, Thong tu 34/2013/TT-NHNN

According to Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam, ownership to valuable papers may be transferred in the following forms:

- Buying, selling, offering, giving, exchanging and inheriting in accordance with provisions of applicable laws.

- As for convertible bonds that are issued in private placements, warrants issued in conjunction with such bonds shall not be transferred within a minimum period of 01 year from the finishing date of issue, except for the case of transferring among professional securities investors.

Moreover, procedures of transferring valuable papers, dealing with risky cases (wrinkled up, torn off, lost and other risks) shall be stipulated by the credit institutions, foreign bank branches in compliance with the provisions of applicable laws, with their business features and conditions and ensuring the legal rights of valuable paper owners.

View full text at Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam, effective from February 14, 2014.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

34 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn