DECISION NoDECISION No. 139/1999/QD-TTg OF JUNE 10, 1999 ON THE RATES OF FOREIGN PARTIES� PARTICIPATION IN VIETNAM�S SECURITIES MARKET
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government of September 30, 1992;
Pursuant to Decree No. 48/1998/ND-CP of July 11, 1998 of the Government on Securities and Securities Market;
At the proposal of Chairman of State Securities Commission;
DECIDES
Article 1.- Foreign organizations and individuals may hold at most 20% of the total number of circulating shares of an issuing organization, and/or investment fund certificates of a securities investment fund, in which, a foreign organization may hold a maximum of 7% and a foreign individual may hold a maximum of 3%.
Article 2.- Foreign organizations and individuals may hold 40% of the total number of the circulating bonds of an issuing organization, in which, a foreign organization may hold 10% and foreign individual, 5% at most.
Article 3.- The maximum capital contribution proportion of the foreign parties to a joint-venture securities company is 30%.
Article 4.- This Decision takes effect 15 days after its signing.
Article 5.- The ministers, the heads of ministerial-level agencies, the heads of agencies attached to Government, the presidents of the People�s Committees of the provinces and centrally-run cities shall have to implement this Decision.
Prime Minister
PHAN VAN KHAI