Decision No. 156/2003/QD-BTC on the first drive issuance of Goverment Bonds for investment in a number of important traffic and irrigation works in the country

OFFICIAL Gi\ZETTE: DECISION No. 156/2003/QD-BTC OF SEPTEMBER 24, 2003 ON THE FIRST-DRIVE ISSUANCE OF GOVERNMENT BONDS FOR INVESTMENT IN A NUMBER OF IMPORTANT TRAFFIC AND IRRIGATION WORKS OF THE COUNTRY THE MINISTER OF FINANCE Pursuant to the Government's Decree No. 77/ 2003/ND-CP of July 1, 2003 defining the functions, tasks, powers and 01ganizational structure of the Ministry of Financo; Pursuant to the Government's Decree No. 25/CP of April 5, 1995 defining the tasks, powers and organizational structure of the State Treasury under the Ministry of Finance; Pursuant to the Government's Decree No. 01/ 2000/ND-CP of January l 8, 2000 promulgating the Regulation on the issuance of Gov(~rnment bonds; Pumuant to the F'ri, ne Ministor's Decision No. 1 B2/ 2003/QD-TTg of September 5, 2003 on the issuance of Government boncts for investment in fl number of important traffic nnd irrigation works of thn country; Treasury, DECIDES: Article 1.- To issue Government bonds in the first drive with a value of VN D 3,000 b ii I ion for investment in a number o1 important tramc and irrigation works of the country. Article 2. - Govern rnent bonds sh al I be issued and paid in Vietnam dong, and in form of certificates or book entries. Bond certificates include registered and bearer ones; pre-printed with different denominations of VND 100,000, VND 200,000, VN D 500,000, VND 1 ;000,000, VND .2,000,000, VND 5,000,000, VND 10,000,000, VN D 20,000,000, VND 50,000,000 and VND 100,000,000. Article 3. - The modes of issuance of Government bonds 1. Issuance through the system of State Treasuries nationwide. l.1, The bond buyers shall include Vietnameso organizations aod citizens; overseas Vietnamese; foreigners working and residing in Vietnam; and foreign organizations operating in the Vietnamese territory, except for those being members of the market for bidding for and underwriting of Government bonds. Vietnamese organizations rnust not use funding allocated from the State budget to purchase Government bonds. l .2. Bond term:!'> yoars. 1 .3. Bond interest rain: !l.!'i¾/yoar, fixed for the whole torrn of :i yo: n;, and paid ,1l Urn ond of oach At tl1e rropo',(•1/ o( l/1P qnneral dirvctor nf tho Stnte yam. "1.4. Issuance duration: Beginning from October 1 fj, 2003 and end i no before Ooce rn b o 1· 3 "1 , 200:1. 2. Bidding through the Securitlc~, Trading Centers: 2 .1 . Subjects eligible to participate in the bidding for the Government bonds are members of the market for bidding fot" Government bonds through Securities Trading Centers. Organizations and individuals wishing to purchase Government bonds through bidding shall register with the organizations licensed to trade at securities market. 2.2. Bond term: 5 years and 1 O years. or interesti,, the bonct owners do not come to got the payrnont, :,uch principals or interests shall he reserved f0r rotund to the bond owners whnn they need lo qot tho payment; interest shall not be calculated for the principatized amounts and tor thH over-mature period. Article 5.- Government bond owners shall enjoy the following rights and preforences: 5.1. To be entitled to transfer, donate, bequeath or use in pledges in credit relations. 5.2. To be entitled to purchase, self and trade in bonds listed at the Securities Trading Centers through 2.3. Interest rates shall be formed through the the Securities Trading Centers. bidding results. 2.4. Issuance time: From October 10, 2003. 3. Issuance underwriting: 3.1. Subjects eligible to participate in issuance underwriting of Government bonds are organizations permitted to underwrite Government bonds according to the current regulations. 3.2. Bond term: 5 years and ~ 0 years. 3.3. Bond interest rates shall be formed through agreements between 1;1nderwriting organizations and the Central State Treasury. 3.4. Issuance time: From October 10, 2003. 5.3. Bond owners being credit institutions shall be entitled to trade in bonds on the monetary market, discount and rediscount bonds according to the State Bank's regulations. 5.4. Bond owners being individuals shall be exempt from personal income tax for their incomes from bond Interests and enjoy free-of-charge bond custody at the system of State Treasuries. Article 6.- The general director of tho °Zitate Treasury shall have to: 6.1. Organize the issuance of Government bonds by the modes prescribed in Article 3 of th is Decision. 6.2. Take initiative in administering the volume, Article 4.~ Principles for payment of principals and term and interest rate of Government bonds issued interests of Government boncts: by the modes prescribed at Points 2 and 3, Artlcle 3 of thii, Decision within the volume limit and inter-est 4.1. Bond principals shall bo paid in lurnp surn upon thetr maturity. 4.2, Bond intorestH shall be paid onco a yoar. If upon tho bond mallffily for payment of principal:; r,1t1,l brar.l<nf Apr roved by the Fimu1ce Minister. o.3. Heport on, account and settle Governmont bond rovonues and payments ar.cordino to the proscribed ro~Jin10:i, Article 7.- l his Uocision takes effect as frorn the olfective date of the Prirne Minister's Decision No. ·\ B2/?.003/QD-TTg of Septernber 5, ?.OOJ. The general director of the State Streasury, the heads of the concerned units under and attached to tlw Financu Ministry, and the directors of the State Treasury offices in Hanoi and Ho Chi Minh city shall tiave to implement this Decision. Minister of Finance NGUYEN SINH HUNG