Application for opening a depository account for valuable papers according to the law in Vietnam

Application for opening a depository account for valuable papers according to the law in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What are valuable papers?

According to Clause 1, Article 3 of Circular 16/2022/TT-NHNN, valuable papers are evidence confirming debt repayment obligations between the issuer of valuable papers and the owners of valuable papers within a certain term, interest payment conditions, and other conditions. Valuable papers include: book-entry valuable papers (in the form of book entries or electronic data) and certificate-type valuable papers.

2. Application for opening a depository account for valuable papers according to the law in Vietnam

Specifically, in Clause 1, Article 6 of Circular 16/2022/TT-NHNN, to deposit valuable papers at the State Bank of Vietnam, the members specified in Clause 2, Article 2 of Circular 16/2022/TT-NHNN prepare and send directly or via postal service to the State Bank of Vietnam's head office (one-window department) 01 (one) set of application, including:

- An application form for opening a depository account for valuable papers according to Appendix 1a/LK issued together with Circular 16/2022/TT-NHNN (03 copies);

Application form of seals and signatures of valuable papers depository accounts​

- The registration form of seal, signature using the depository account of valuable papers at the State Bank according to Appendix 1b/LK issued together with Circular 16/2022/TT-NHNN (03 copies);

Registration form for seals and signatures of valuable papers in depository accounts

- Documents proving that the member opening a valuable paper depository account is legally established and operating, including: charter, establishment and operation license, business registration certificate, or other documents as prescribed by law;

- Documents proving the legal representative status of the account opening member's legal representative (the State Bank's decision on approval of the proposed title, the appointment decision), accompanied by the person's identity card, citizen identification card, or valid passport;

- The appointment document or decision, as well as the identity card or citizen identification card or valid passport of the chief accountant or person in charge of accounting, who controls the transaction documents with the State Bank;

- If the legal representative or chief accountant authorizes another person (including re-authorization, if any), members opening a depository account must provide the authorized person's appointment decision and power of attorney in accordance with Appendix 7/LK issued in conjunction with Circular 16/2022/TT-NHNN, along with the authorized person's identity card, citizen identification card, or valid passport.

Authorization document

The work authorization letter of the person authorized by the chief accountant must have the signature of the representative of the account holder;

In the event that a member has provided the State Bank (Transaction Office) with personal information (people's identity card number, citizen identification number, or passport number) of the legal representative, chief accountant, or authorized person that can be mined on the National Database of Population, members are not required to provide the papers specified at Points c, d, dd, e, Clause 1, Article 6 of Circular 16/2022/TT-NHNN.

3. Conditions for valuable papers to be deposited at the State Bank of Vietnam

Conditions for valuable papers to be deposited at the State Bank are specified in Clause 2, Article 4 of Circular 16/2022/TT-NHNN, specifically as follows:

- Under the legal ownership of the member;

- Belongs to the valuable papers specified in Clause 1, Article 4 of Circular 16/2022/TT-NHNN;

- The right to receive principal and interest has not been finalized at maturity;

- Valuable papers of the type of depository certificate at the State Bank must be intact, not torn, damaged, not changed in color, not faded with pattern images, letters, numbers, not crumpled, crushed, smudged, dirty, erased.

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