Highlight of Notable Documents for Last Week (from April 09 - 14)

1. Appointment Dossier for Chief Accountant and Accounting Personnel

The Ministry of Home Affairs issued Circular 04/2018/TT-BNV providing regulations on the appointment dossier for chief accountants and accounting personnel, effective from May 15, 2018, as follows:

- Resume;- Copy of degrees or professional certificates in accounting as required for the appointed position;- Copy of chief accountant training certification;- Confirmation letter from accounting units where the appointee has worked regarding the actual time serving as a chief accountant (Form No. 01/GXN) or accountant (Form No. 02/GXN) for the appointment of a chief accountant; confirmation (Form No. 02/GXN) for the appointment or arrangement of accounting personnel;- Written proposal for the appointment of a chief accountant or accounting personnel, signed and sealed by the head of the accounting unit.

In the case of re-appointment of a chief accountant or accounting personnel, the dossier must include an additional self-assessment and evaluation of work results during the term holding the position of chief accountant or accounting personnel.

1. Notes on Preparing Dossiers for Changes in Microfinance Organizations

The Circular 10/2018/TT-NHNN issued by the State Bank of Vietnam stipulates dossiers, procedures, and approval processes for changes in microfinance organizations.

When preparing and submitting dossiers for changes in the company (such as name, head office location; charter capital; scope and duration of activities; etc.), microfinance organizations should note:

- The written request for approval from the State Bank of Vietnam must be signed by the legal representative of the microfinance organization. If signed by an authorized person, the dossier must include a legally valid authorization document;- The dossier for approval of the change must be prepared in a single set in Vietnamese. Copies of documents, degrees, and translated materials from foreign languages must be authenticated in accordance with the law;- For documents that are copies but not certified copies or copies issued from the original record, the original must be presented for verification when submitting the dossier.

Details can be found in Circular 10/2018/TT-NHNN, which takes effect from June 1, 2018.

1. 09 Minimum Information Requirements for AIS Installation on Vessels

The Ministry of Transport issued Circular 17/2018/TT-BGTVT stipulating the management and exploitation of automatic identification system (AIS) information for vessels.

The AIS equipment installed on vessels must contain the following minimum information:

- Vessel identification code;- Vessel name;- IMO number, call sign (if any);- Type of vessel;- Dimensions of the vessel (length, width);- Position, speed, and direction of the vessel.

As per the regulations, the vessel owner and captain are responsible for:

- Maintaining the AIS equipment operation 24/7 to transmit AIS messages;- Immediately notifying the maritime authority or the inland waterway authority under the Vietnam Inland Waterways Administration if the AIS equipment is found to be malfunctioning;- Immediately notifying the maritime or inland waterway authority under the Vietnam Inland Waterways Administration if there are changes to basic information such as the vessel identification code, vessel name, IMO number, etc.;- Recording the operation and exploitation of AIS equipment in the vessel's logbook.

Circular 17/2018/TT-BGTVT is effective from July 1, 2018.

1. Proposal for Fundraising by Issuing Virtual Currency

This is the directive of the Prime Minister of the Government of Vietnam in Directive 10/CT-TTg regarding the enhancement of management over activities related to Bitcoin and other similar virtual currencies.

To minimize risks and promptly detect and handle violations related to virtual currencies, the Prime Minister requests the following focal tasks for relevant agencies:

- State Bank of Vietnam: Direct credit institutions and providers of intermediary payment services not to engage in unlawful transactions involving virtual currencies;- Ministry of Finance: Propose measures regarding fund-raising activities through the issuance of virtual currencies (ICOs);- Ministry of Public Security: Strengthen investigation, detection, and prompt handling of violations related to virtual currencies such as multi-level marketing, online fraud; posing as virtual currency investment and business to misappropriate assets, money laundering, and terrorism financing through virtual currencies.

Directive 10/CT-TTg was issued on April 11, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE