THE STATE BANK GOVERNOR

Pursuant to Vietnam State Bank Law No. 01/1997/QH10 and Credit Institution Law No. 02/1997/QH10 of December 12, 1997;

Pursuant to the Government�s Decree No. 15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries and ministerial-level agencies;

Pursuant to the Prime Minister�s Decision No. 150/2001/QD-TTg of October 5, 2001 on the establishment of debt management and asset exploitation companies under commercial banks;

At the proposal of the Director of the Department for Banks and Non-Bank Credit Institutions,

DECIDES:

1. Article 1.-

1. Commercial banks may establish debt management and asset exploitation companies under their management, which have the legal person status and conduct independent cost-accounting with their own capital.

2. Commercial banks prescribed in Clause 1 of this Article include:

a/ State-run commercial banks;

b/ State- and people-run joint-stock commercial banks (hereafter called joint-stock commercial banks).

Article 2.- The chairmen of the managing boards of the commercial banks (hereafter called the chairmen of the managing boards) shall decide on the establishment of debt management and asset exploitation companies after obtaining the written approval of the State Bank.

Chapter II

SPECIFIC PROVISIONS

Section I. CONDITIONS FOR THE ESTABLISHMENT OF DEBT MANAGEMENT AND ASSET EXPLOITATION COMPANIES

Article 3.- Commercial banks may establish debt management and asset exploitation companies according to the provisions of Article 1 of this Regulation if they fully meet the following conditions:

1. Having operated for at least 3 years since the date of operation commencement;

2. Having demand for the establishment of debt management and asset exploitation companies.

Section II. DOSSIERS AND PROCEDURES OF APPLICATION FOR APPROVAL OF THE ESTABLISHMENT OF DEBT MANAGEMENT AND ASSET EXPLOITATION COMPANIES

Article 4.- Dossiers of application for approval of the establishment of debt management and asset exploitation companies comprise:

1. The document of the Managing Board�s chairman or the person authorized by the Managing Board�s chairman, requesting the State Bank Governor to approve the establishment of the debt management and asset exploitation company of the bank, which briefly states the necessity, name, location, contents and scope of operation of the debt management and asset exploitation company;

2. The written authorization (in case of authorization) of the Managing Board�s chairman;

3. The Shareholders General Assembly�s resolution (for joint-stock commercial banks) on the establishment of the debt management and asset exploitation company;

4. The scheme on establishment of the debt management and asset exploitation company, signed by the chairman of the Managing Board of the commercial bank or the authorized person, which clearly states the necessity of establishment of the company, contents and scope of operation, the projected organizational structure, and operation plans in the first 3 years;

5. The draft charter on organization and operation of the debt management and asset exploitation company;

6. The written opinions of the manager of the State Bank�s branch in the province or city (for joint-stock commercial banks), where the joint-stock commercial bank plans to locate the office of the debt management and asset exploitation company, on the establishment of the debt management and asset exploitation company of the bank (except the case where the joint-stock commercial bank plans to locate the office of the debt management and asset exploitation company in the same province or city where the joint-stock commercial bank is headquartered).

Article 5.- Order and procedures of application for the State Bank�s approval of the establishment of debt management and asset exploitation companies:

1. The State-run commercial bank, which sets up the debt management and asset exploitation company, shall make dossiers according to the provisions of Article 4 of this Regulation and send them to the State Bank (the Department for Banks and Non-Bank Credit Institutions).

2. The joint-stock commercial bank, which sets up the debt management and asset exploitation company, shall make dossiers according to the provisions of Article 4 of this Regulation and send them to the State Bank�s branch in the province or city where the joint-stock commercial bank is headquartered.

Within 15 working days after receiving the complete dossiers, the State Bank�s branch in the province or city where the joint-stock commercial bank is headquartered must give its written opinions on the establishment conditions prescribed in Article 3, on the dossiers of application for establishment prescribed in Article 4, of this Regulation, and send them to the State Bank (the Department for Banks and Non-Bank Credit Institutions).

3. Within 30 working days after receiving the complete dossiers, the State Bank shall examine them and give its written opinions approving or disapproving the establishment of the debt management and asset exploitation company of the commercial bank.

2. Article 6.-