Procedure for Approval trực tiếp bóng đá euro hôm nay Capital Contribution, Share Purchase trực tiếp bóng đá euro hôm nay Credit Institutions in Accordance with Circular 25/2024/TT-NHNN

Circular 25/2024/TT-NHNN regulates the procedures for approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions

On June 28, 2024, the Governor trực tiếp bóng đá euro hôm nay the State Bank trực tiếp bóng đá euro hôm nay Vietnam issued Circular 25/2024/TT-NHNN, regulating the conditions, dossiers, sequence, and procedures for the approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions.

Circular 25/2024/TT-NHNN applies to the following subjects:

- Commercial banks, consolidated finance companies, and specialized finance companies (hereinafter collectively referred to as credit institutions).

- Organizations and individuals involved in capital contribution, share purchase, debt conversion into equity, and equity capital trực tiếp bóng đá euro hôm nay credit institutions.

Procedures for approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions under Circular 25/2024/TT-NHNN (Image from the Internet)

Which agency has the authority to approve the capital contribution and share purchase by credit institutions?

According to Article 4 trực tiếp bóng đá euro hôm nay Circular 25/2024/TT-NHNN, authority to approve capital contribution and share purchase by credit institutions is specified as follows:

Authority to approve capital contribution and share purchase by credit institutions

1. The Governor trực tiếp bóng đá euro hôm nay the State Bank considers and approves capital contribution and share purchase into other enterprises operating in the fields specified at point b, clause 1, Article 1 trực tiếp bóng đá euro hôm nay this Circular and debt conversion into equity capital as specified at point d, clause 1, Article 1 trực tiếp bóng đá euro hôm nay this Circular.

2. Chief Inspector, banking supervision considers and approves the capital contribution and share purchase for the establishment, acquisition trực tiếp bóng đá euro hôm nay subsidiaries, and associates as specified at points a and c, clause 1, Article 1 trực tiếp bóng đá euro hôm nay this Circular.

Thus, the authority to approve the capital contribution and share purchase by credit institutions includes:

- Governor trực tiếp bóng đá euro hôm nay the State Bank:

+ Considers and approves the capital contribution and share purchase trực tiếp bóng đá euro hôm nay commercial banks into other domestic enterprises operating outside the fields trực tiếp bóng đá euro hôm nay insurance, securities, remittances, gold, factoring, credit card issuance, consumer credit, intermediary payment services, credit information.

+ Considers and approves the conversion trực tiếp bóng đá euro hôm nay debt into equity to handle bad debts trực tiếp bóng đá euro hôm nay commercial banks in domestic enterprises operating outside the fields trực tiếp bóng đá euro hôm nay insurance, securities, remittances, gold, factoring, credit card issuance, consumer credit, intermediary payment services, credit information.

- Chief Inspector, banking supervision considers and approves capital contribution, share purchase trực tiếp bóng đá euro hôm nay:

+ Commercial banks to:

(i) Establish, acquire subsidiaries, and associates in domestic enterprises operating in the fields trực tiếp bóng đá euro hôm nay securities underwriting, securities brokerage; management, distribution trực tiếp bóng đá euro hôm nay securities investment fund certificates; securities portfolio management and stock buying, selling; insurance; debt management and asset exploitation; remittances; gold; intermediary payment services; credit information.(ii) Acquire subsidiaries and associates in domestic enterprises operating in the fields trực tiếp bóng đá euro hôm nay financial leasing; factoring; consumer credit; credit card issuance.

+ Consolidated finance companies to establish, acquire subsidiaries, and associates operating in the fields trực tiếp bóng đá euro hôm nay insurance, securities, debt management, and asset exploitation; specialized finance companies to contribute capital, purchase shares to establish, acquire subsidiaries, and associates operating in the field trực tiếp bóng đá euro hôm nay debt management and asset exploitation.

What are the specific procedures for approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions?

According to Article 7 trực tiếp bóng đá euro hôm nay Circular 25/2024/TT-NHNN, the procedures for approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions are specified as follows:

Procedures for approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions

1. Credit institutions shall prepare 01 set trực tiếp bóng đá euro hôm nay dossiers as specified in Article 6 trực tiếp bóng đá euro hôm nay this Circular, submit directly or via postal services to the headquarters trực tiếp bóng đá euro hôm nay the State Bank (One-Stop Department). If the dossier is incomplete or invalid, within 10 days from the date trực tiếp bóng đá euro hôm nay receipt trực tiếp bóng đá euro hôm nay the dossier, the State Bank shall request the credit institution to supplement the dossier in writing.

2. Within 45 days from the date trực tiếp bóng đá euro hôm nay receipt trực tiếp bóng đá euro hôm nay the complete and valid dossier, the State Bank or the Agency trực tiếp bóng đá euro hôm nay Banking Inspection and Supervision shall give written approval or disapproval trực tiếp bóng đá euro hôm nay the capital contribution, share purchase, and conversion trực tiếp bóng đá euro hôm nay debt into equity trực tiếp bóng đá euro hôm nay the credit institution; if disapproved, the State Bank or the Agency trực tiếp bóng đá euro hôm nay Banking Inspection and Supervision shall provide written reasons for disapproval.

3. Within 12 months from the date trực tiếp bóng đá euro hôm nay written approval, the credit institution must complete the capital contribution, share purchase, and conversion trực tiếp bóng đá euro hôm nay debt into equity. Beyond this time limit, if the credit institution has not completed the capital contribution, share purchase, and conversion trực tiếp bóng đá euro hôm nay debt into equity, the written approval by the State Bank or the Agency trực tiếp bóng đá euro hôm nay Banking Inspection and Supervision shall automatically expire.

The procedures for approval trực tiếp bóng đá euro hôm nay capital contribution and share purchase by credit institutions are as follows:

Step 1: Prepare the dossier

- Credit institutions shall prepare 01 set trực tiếp bóng đá euro hôm nay dossiers as specified in Article 6 trực tiếp bóng đá euro hôm nay Circular 25/2024/TT-NHNN, submit directly or via postal services to the headquarters trực tiếp bóng đá euro hôm nay the State Bank (One-Stop Department).

- If the dossier is incomplete or invalid, within 10 days from the date trực tiếp bóng đá euro hôm nay receipt trực tiếp bóng đá euro hôm nay the dossier, the State Bank shall request the credit institution to supplement the dossier in writing.

Step 2: Receive the dossier

Within 45 days from the date trực tiếp bóng đá euro hôm nay receipt trực tiếp bóng đá euro hôm nay the complete and valid dossier, the State Bank or the Agency trực tiếp bóng đá euro hôm nay Banking Inspection and Supervision shall provide written approval or disapproval trực tiếp bóng đá euro hôm nay the capital contribution, share purchase, and conversion trực tiếp bóng đá euro hôm nay debt into equity trực tiếp bóng đá euro hôm nay the credit institution;

Note: If disapproved, the State Bank or the Agency trực tiếp bóng đá euro hôm nay Banking Inspection and Supervision shall provide written reasons for disapproval.

Step 3: Complete the dossier

Within 12 months from the date trực tiếp bóng đá euro hôm nay written approval, the credit institution must complete the capital contribution, share purchase, and conversion trực tiếp bóng đá euro hôm nay debt into equity.

Beyond this time limit, if the credit institution has not completed the capital contribution, share purchase, and conversion trực tiếp bóng đá euro hôm nay debt into equity, the written approval by the State Bank or the Agency trực tiếp bóng đá euro hôm nay Banking Inspection and Supervision shall automatically expire.